Hester Biosciences reported poultry drives Q2 as exports face logistic challengesHESTERBIO - 2367 Change: 10.15 (0.43 %)
News: Revenues grew 17.3% YoY to Rs.62.7 crore due to 30.2% growth in poultry segment to Rs.44.7 crore being offset by animal healthcare segment, which de-grew 19.7% YoY to Rs.11.1 crore. EBITDA margins declined 156.8 bps YoY to 28%. Subsequently, EBITDA came in at Rs.17.6 crore (up 11.1% YoY). PAT for the quarter came in at Rs. 10.6 crore vs Rs.6.7 crore in Q2FY21.
Views: Despite exports being impacted due to Covid, Hester posted steady result being partly offset by decline in animal health segment. Going ahead, opportunities panning out from animal vaccines such as classical swine fever, lumpy skin disease (only player) and sheep pox (only player) in the domestic space besides increased focus on health products, growth prospects looks promising for Hester. As the company strengthens its hold in the overall animal healthcare space, the next important aspect would be its progress in the human vaccines space (via maiden Covaxin adjuvant foray) in the long run