Hikal Share Price

Hikal Limited, together with its subsidiaries, manufactures and sells various chemical intermediates, specialty chemicals, and active pharma ingredients to pharmaceutical, biotechnology, life sciences, animal health, crop protection, and specialty chemicals indusries. It operates through two segments, Pharmaceuticals and Crop Protection. The company also manufactures pesticides and herbicides and offers solutions in contract research, custom synthesis, and custom manufacturing of intermediates and active ingredients. Hikal share price on the NSE and BSE is a reflection of how market participants respond to a company’s performance and broader business developments within its industry. It captures the sentiment of the investors based on financial results, operational updates, macroeconomic factors, and trends specific to sectors. Movements in the Hikal share price͏ reveal how the market evaluates the company’s current position and its future prospects, making ͏it a key indicator of market perception across various industries.

Hikal stock price is influenced by various factors such as earnings, order book growth, product mix, regulatory approvals, and global demand cycles. In the longer run, strategies such as capacity expansion, research and development, and client relationship management affect stock market sentiments. All these factors must be closely monitored to have an idea about the Hikal stock price movements.

Hikallive share price provides real-time information about the last price traded, bid price, ask price, and volume traded. These indicators represent trading activity and liquidity and the reaction of investors to corporate announcements, quarterly results, and sector news. Constant ͏monitoring of Hikal live price helps observe short-term price fluctuations and understand how the stock is moving in relation to the broader market.

Furthermore, monitoring the Hikal share͏ price today helps investors understand real-time market sentiment, price volatility, and trading behaviour. It allows market participants to evaluate short-term performance, identify possible entry or exit points, and respond to news, quarterly results or sector trends that may affect the company’s valuation and overall investment outlook.

Hikal Limited Company Fundamentals

Hikal Limited Company Background

Hikal offers solutions across the life sciences value chain. The company delivers world-class active ingredients, intermediates, and research-led services to global pharmaceutical, animal health, biotechnology, crop protection, and specialty chemicals organisations. Established in 1988, Hikal has built a reputation as a trusted partner for complex manufacturing and innovation-driven requirements. Its pharmaceutical business supports customers with active pharmaceutical ingredients, custom manufacturing, intermediates, and advanced intermediates, aligned to international quality standards. In crop protection, the company supplies active ingredients, advanced intermediates, and intermediates that support sustainable agricultural solutions. Through its Research and Technology capabilities, Hikal undertakes process development, new product development, and contract and custom development for diverse applications. Manufacturing operations span five facilities across India, located in Maharashtra at Taloja and Mahad, Gujarat at Panoli, and Karnataka at Jigani, supported by a dedicated Research and Technology centre in Pune. These facilities undergo regular inspections by multinational clients and global regulatory authorities. Hikal also holds distinction as the first Indian life sciences company to receive the Responsible Care® certification from the International Council of Chemical Associations, reflecting its commitment to safety standards.

Hikal Limited Company Product Lines

Pharmaceuticals

• Active Pharmaceutical Ingredients (APIs) for human therapeutics (multiple therapeutic categories including anti-infective, anti-inflammatory, cardiovascular, etc.)
• Intermediates and advanced intermediates for API synthesis
• Custom Manufacturing & Contract Development services (CDMO) from grams to tonne scale
• Animal health APIs and intermediates (anti-tick, anti-parasitic, NSAIDs, hormones)

Crop Protection

• Active ingredients for Crop Protection (insecticides, fungicides, herbicides)
• Advanced intermediates and intermediates for agrochemical synthesis
• Custom synthesis and custom manufacturing partnerships for crop protection innovators

Specialty Chemicals

• Specialty chemical actives such as biocides, antimicrobial agents
• Chemical additives for leather, coatings, paper, water treatment, personal care, textiles

Research & Technology Services

• Process Development & Optimization
• New Product Development
• Contract and custom development chemistry support

Hikal Limited Company Revenue Model

Primary Revenue Streams

• Pharmaceuticals Division – Sale of APIs, intermediates and CDMO services (largest revenue contributor).
• Crop Protection Division – Sale of crop protection actives, intermediates and custom manufacturing.
• Specialty Chemicals & Biocides – Sale of niche specialty chemical products.
• Research, Licensing & Development Services – Fees from bespoke R&D and process development engagements.

Business Model Characteristics

• B2B Supply – Focus on business-to-business supply to global pharma, biotechnology, animal health and crop protection companies.
• CDMO Focus – Contract Development and Manufacturing Organisation services provide scaled, fee-based revenue.
• Regulatory Filings & Approvals – Revenue supported by registrations (DMFs, CEPs) in regulated markets.
• Product Export & Global Partnerships – Export-led model with diversified global customer base in regulated and emerging markets

Hikal Limited Geographic Presence

Operational Manufacture & R&D

• India – Five manufacturing sites (Taloja & Mahad in Maharashtra; Panoli in Gujarat; Jigani in Karnataka) and a Research & Technology Centre in Pune.

Global Markets Served

• India Domestic Market – Significant revenue share.
• North America (USA & Canada) – Office/market presence with subsidiary Hikal LLC for customer support.
• Europe (including EU regulated markets) – API and crop protection registrations; large export base.
• South East Asia & Other Regions – Export and partner engagement across multiple territories.
• Japan & Latin America – Presence via regulatory filings and customer relationships.

Hikal Limited Leadership

Some of the key leaders of Hikal Limited as of January 2026 are

• Jai Hiremath – Founder and Executive Chairman
• Sameer Hiremath – Vice Chairman and Managing Director
• Sugandha Hiremath – Director
• Amit Kalyani – Independent Director
• Shivani Bhasin Sachdeva – Independent Director
• Shrikrishna Adivarekar – Independent Director
• Berjis Desai – Independent Director
• V. Ramachandra Kaundinya – Independent Director
• Ravi Kapoor – Independent Director
• Ranjana S. Salgaocar – Independent Director
• Sarangan Suresh – Senior Vice President – Operations
• Anish Swadi – Senior President – Animal Health & Business Transformation
• Kuldeep Jain – Chief Financial Officer
• Manoj Mehrotra – President – Pharmaceuticals
• Vimal Kulshrestha – President – Crop Protection
• Ratish Jha – President – Human Resources

Hikal Limited Key Milestones

• 1988: Hikal Limited incorporated on 8 July, marking its entry into life sciences, fine chemicals, and contract research.
• 1991: Commenced first project at the greenfield site in M.I.D.C. Mahad, Maharashtra, manufacturing intermediates for the agrochemical industry; secured its first major contract with Hoechst.
• 1996: Came out with a public issue to partly finance the Thiabendazole (TBZ) expansion project; selected by Merck & Co., USA, as an outsourcing partner for TBZ.
• 1997: Commissioned a second greenfield, state-of-the-art manufacturing facility at Taloja, Maharashtra; received Export House status from the Government of India and the British Safety Council’s 5 Star Safety Award for the Taloja site.
• 1999–2000: Acquired the agrochemical manufacturing site at Panoli, Gujarat, from Novartis India Limited; Export House status upgraded to Trading House.
• 2001: Entered the pharmaceuticals business by acquiring the R&D unit and bulk drug manufacturing facility of Wintac Ltd. at Bangalore, Karnataka.
• 2004: Built a new API plant at Bangalore and received USFDA approval; the plant was also approved by the Australian TGA.
• 2004–05: Set up a 100% EOU plant for pharmaceutical intermediates and initiated development of a state-of-the-art R&D centre in Pune.
• 2004–2005: Entered agreements with Bayer CropScience AG and Crompton Corporation, USA; signed a JV agreement with a Sinochem Corporation subsidiary.
• 2005–06: Made a strategic investment in Jiangsu Chemstar Industries Co., China; expanded crop protection and pharmaceutical production capacities.
• 2006–07: Commenced exports of Gabapentin to the US and Canada; acquired Marsing & Co. A/S, Denmark, to strengthen global API marketing.
• 2007–08: Increased stake in Jiangsu Chemstar Industries; launched new crop protection products; expanded R&D laboratory infrastructure.
• 2008: Established Acoris Research Ltd., a contract research facility at the International Biotech Park, Pune.
• 2009: Expanded manufacturing across Taloja, Bangalore, and Panoli; signed long-term contracts for patented molecules with global innovators.
• 2012: R&D activities of Acoris demerged and integrated into Hikal as a division, strengthening in-house research capabilities.
• 2013: Signed manufacturing and development agreements with US biotech, food ingredient, and Japanese specialty companies.
• 2016: Divested stake in Hikal International B.V.
• 2017: Sold the Bangalore R&D unit.
• 2018: Issued bonus shares in the ratio of 1:2.
• 2023: Achieved strong traction for new antidiabetic products and advanced multi-year animal health projects.
• 2024: Commissioned a new Animal Health multi-purpose manufacturing facility at Panoli, Gujarat.
• 2025: Entered specialty chemicals with new portfolios and launched sub-brands HiZenn (Personal Care) and HiFend (Biocides).

Industry Perspective

Hikal Limited operates within the global life sciences and chemicals industry, spanning active pharmaceutical ingredients (APIs), crop protection chemicals, and specialty chemicals. The active pharmaceutical ingredients market is a major growth segment of the pharmaceutical industry, with global market value expected to expand from approximately USD 172.6 billion in 2024 to USD 360 billion by 2035, at an estimated CAGR of around 6.9% (2025–2035), driven by rising demand for complex therapies, biologics, and generics production. Other forecasts suggest the API market could reach USD 425 billion by 2035 at a ~5.9% CAGR (2026–2035). The crop protection chemicals industry — critical to global agriculture — is projected to grow from around USD 77.7 billion in 2025 to over USD 117 billion by 2035 with a ~4.2% CAGR (2025–2035), driven by global food demand and sustainable crop protection innovation. Meanwhile, the specialty chemicals market is one of the largest chemical sectors globally, anticipated to rise from roughly USD 1.4 trillion in 2025 to USD 2.2 trillion by 2035, at a ~5.0% CAGR (2025–2035), supported by diversification across industrial applications. These trends highlight multi-billion-dollar expansion prospects and sustained industry growth, underscoring robust future demand for Hikal’s core business areas.

Hikal Limited Stock Market Presence: Listings & Index Representation

Hikal listed on the BSE (Bombay Stock Exchange) on 10 January 1995 and NSE (National Stock Exchange) on 14 February 2001, after commencing operations in 1988.

Hikal Limited is an established entity in the Indian stock market, listed on major exchanges such as NSE (HIKAL) and BSE (524735). Its inclusion in prominent indices like S&P BSE Healthcare, BSE 1000, BSE Next 250 Microcap, Nifty Microcap 250 Index, Nifty Total Market, S&P BSE MidSmallCap, S&P BSE SmallCap, and S&P BSE AllCap underscores the company’s significance in India’s specialty chemicals and pharma sector.

The Hikal stock price is tracked by investors. Its inclusion in these indices reflects its market capitalisation and operational scale in APIs and agrochemicals. Listing on NSE and BSE ensures liquidity, while index presence can drive institutional holdings and benchmark tracking in the chemical and pharmaceutical sectors.

Hikal Limited Share Performance and Share Price History

The Hikal share price on NSE and BSE reflects its position as a leading player in the pharmaceutical and agrochemical space. Performance is driven by order inflows, capacity utilization, product approvals, and raw material costs. Investors compare Hikal share price today with sectoral indices and peer companies to gauge relative performance.

These underlying factors are often visible through real market movements across different periods. Similar trends are observed during earnings-driven movements. Broader sector strength has also played a role in supporting the Hikal share price. In addition to operational and sector-led factors, corporate actions can also have a significant impact on Hikal share price movements short-term even when the company’s fundamentals remain strong. This shows how corporate actions can trigger short-term swings.

While short-term movements reflect events and announcements, longer-term valuation trends are visible through Hikal share price 52-week high and low, providing context beyond daily or weekly changes. The stock reached a 52-week high of INR 456.75 and a low of INR 193, capturing the impact of earnings cycles, growth expectations, and sector sentiment, providing context for the stock’s historical performance.

Hikal’s stock performance reflects the trading behaviour of a company operating within the global chemical and pharma industry. The company’s diversified portfolio across pharma and agrochemicals and its focus on CRAMS have shaped its Hikal share price history. Over time, the stock has shown volatility, marked by periods of sharp gains and phases of consolidation.

The early 2000s witnessed strong growth, with the Hikal share price increasing by 300.19% in 2003. The period between 2009 and 2012 also saw significant gains, with rises of 81.63% in 2009 and 117.38% in 2012, driven by strong earnings growth and market expansion. The Hikal stock price experienced a major rally of 218.03% in 2021, supported by robust sector demand and strong financial performance, reaching an all-time high of INR 698.52 in September 2021.

Conversely, the Hikal share price faced declines in several years due to specific challenges. It decreased by 46.19% in 2008 amid the global financial crisis and by 35.35% in 2011 due to industry-wide pressures. More recently, the Hikal share price fell by 22.28% in 2022 and 24.01% in 2023, reflecting normalization post the 2021 peak, margin pressures, and broader market corrections. The stock declined by 43.43% in 2025 and 14.26% year-to-date in 2026, influenced by weaker earnings, subdued sectoral sentiment, and global economic uncertainties.

Over longer investment horizons, the Hikal share price has delivered returns of 15.33% over five years and 102.18% over ten years, highlighting periods of growth aligned with industry cycles. The Hikal stock price showed resilience during the COVID-19 pandemic, with a 42.79% gain in 2020, supported by demand for pharmaceutical ingredients.

Hikal Limited Investor Relevance And Portfolio Role

Hikal is a constituent in healthcare, small-cap, and microcap portfolios, offering exposure to the pharmaceutical and agrochemical manufacturing sector. Inclusion in indices like S&P BSE Healthcare and Nifty Microcap 250 underscores its relevance in India’s chemical industry. Its business model in CRAMS and APIs makes it a strategic holding for investors seeking sector-specific exposure.

Hikal equity is held by a mix of domestic and international institutional investors. Top institutional stakeholders include Kalyani Group Pvt. Ltd., Castilia Life Sciences Private Limited, Tata Asset Management Pvt. Ltd, BF Investment Limited, ICICI Prudential Asset Management Company Limited, The Government Pension Fund – Norway, Theleme India Master Fund Limited, Theleme Partners LLP, Norges Bank Investment Management, and Dimensional Fund Advisors LP.

Prominent mutual fund holders include Tata Mutual Fund – Tata Small Cap Fund, ICICI Prudential Mutual Fund – ICICI Prudential Pharma Healthcare And Diagnostics Fund, Government Pension Fund Global, Tata Mutual Fund – Tata India Pharma & Healthcare Fund, DFA Investment Dimensions Group Inc. – Emerging Markets Core Equity 2 Portfolio, Dimensional Emerging Markets Value Fund, DFA Investment Trust Company – Emerging Markets Small Cap Series, Motilal Oswal Mutual Fund – Motilal Oswal Nifty Microcap 250 Index Fund, WisdomTree Trust – WisdomTree India Earnings Fund, and American Century ETF Trust – Avantis Emerging Markets Equity ETF. This investor base underscores the stock’s role in thematic and sectoral portfolios.

Hikal’s stock is also monitored for technical indicators and volatility. The beta of Hikal share price measures its volatility relative to the market. Key beta values include a long-term beta of 2.08, a daily one-month range beta of 1.12, a daily three-month range beta of 0.901, a weekly one-year range beta of 0.764, a weekly two-year range beta of 1.11, a two-week two-year range beta of 1.26, and a monthly two-year range beta of 2.26. These figures indicate varying levels of sensitivity to market movements across different time frames, which investors consider for portfolio risk assessment.

Hikal Limited Sectoral Relevance and Peer Positioning

Hikal’s sector relevance stems from its integrated operations in pharmaceutical APIs and agrochemicals, establishing it as a key player supporting India’s specialty chemical ecosystem. Peer comparisons with Divi’s Laboratories, Sudarshan Chemical Industries, Neuland Laboratories, Alkyl Amines Chemicals, and Laurus Labs focus on product verticals, client relationships, export dependence, and research capabilities rather than short-term stock moves. These benchmarks help investors assess operational niche, efficiency, and growth visibility. Institutional tracking of regulatory compliance, capacity expansion, and global supply chain trends further highlights Hikal’s positioning within India’s broader chemical and pharmaceutical export markets.

Hikal’s sectoral importance is also reflected in financial and market metrics that demonstrate its scale and valuation cycles. Hikal P/E ratio demonstrates how the market values the company’s earnings. The ratio has shown significant variation, from 8.77 in 2012 to 54.3 in 2025. It spiked to 132.16% in 2022 to 30.6, eased to 43.9 in 2023, and was 48.5 in 2024, reflecting market reassessment of growth and margin prospects aligned with chemical sector trends and the Hikal earnings visibility.

Alongside valuation, Hikal EPS highlights operational performance. EPS increased from INR 3.54 in 2007 to INR 15.72 in 2022, indicating periods of strong earnings growth. However, EPS declined to INR 7.10 in 2023 and was INR 6.20 in 2024, with a TTM EPS of negative INR 1.78 in 2025, reflecting profitability challenges and sectoral headwinds impacting recent performance relative to peers.

Hikal market cap underscores its prominence within the small to mid-cap segment. Market capitalization grew from INR 7.07 billion in 2007 to a peak of INR 64.94 billion in 2021, before adjusting to INR 23.86 billion in 2026. This valuation trajectory attracts thematic institutional interest and reflects its standing within the specialty chemical and pharmaceutical manufacturing segment.

Finally, Hikal’s earnings trajectory demonstrates cyclicality tied to industry demand. Earnings rose from INR 1.91 billion in 2019 to a peak of INR 2.99 billion in 2021, followed by a decline to INR 1.23 billion in 2022. Earnings recovered to INR 1.72 billion in 2024 before a TTM drop to INR 0.80 billion in 2025. These trends reflect the company’s sensitivity to global demand, pricing power, and operational efficiency relative to other chemical and pharma companies in India.

Summary

Hikal Limited is a pharmaceutical and agrochemical company listed on Indian stock exchanges. The Hikal share price is influenced by sector-specific factors, financial metrics, and market sentiment. Its inclusion in various indices and its ownership by institutional investors highlight its role in sectoral portfolios. The company’s financial history, including earnings, EPS, and market cap, provides context for its stock performance and positioning within the competitive specialty chemicals industry.