Hikal Limited

BSE: 524735 NSE: HIKAL
Hikal Limited - chemicals and materials in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN L24200MH1988PTC048028 Incorporated 08 July 1988 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Listed - NSE: HIKAL · BSE: 524735 chemicals and materials
Data last updated
Market Cap
₹2,599 Cr
HIKAL · NSE
Share Price
₹203.18
-3.60% today
Revenue
₹1,713 Cr
FY 2025-26 · -7.9% YoY
EBITDA
₹135 Cr
Margin 7.9%
Net Profit
₹27.20 Cr
FY 2025-26 · -69.8% YoY
P/E (TTM)
63.2x
P/B 2.2x
ROE
2.2%
ROCE 3.4%
Debt / Equity
0.59
Interest cover -217.9x

About Hikal Limited

Data last updated:

Hikal Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the specialty chemicals segment of the chemicals and materials sector. It was incorporated on 08 July 1988 and has been in existence for over 38 years.

Its director Jai V Hiremath and family are #1,673 among India's richest people (2026).

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L24200MH1988PTC048028. Its GSTIN is 27AAACH0383A1Z5 (Maharashtra). The company holds 5 GST registrations, of which 4 are active. Its shares are listed on BSE: 524735 and NSE: HIKAL.

The company has an authorised share capital of ₹75 Cr and a paid-up capital of ₹24.66 Cr. It was formerly known as Hikal Chemical Indusries Limited and Hikal Chemical Indusries Private Limited. It is led by directors including Sameer Jai Hiremath (Managing Director) and Jai Vishwanath Hiremath (Whole-Time Director).

Its last annual general meeting (AGM) was held on 23 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 717/718 Maker Chamber V Nariman Point, Mumbai, Maharashtra, India – 400021.

As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹1,712.6 Cr, a decline of 7.9% compared to the previous year. For the same year it recorded a net profit of ₹27.2 Cr (net margin 1.6%) and EBITDA of ₹135.3 Cr (EBITDA margin 7.9%). The net worth stands at ₹1,198.8 Cr (down 5% YoY). Total assets are valued at ₹1,990.2 Cr (down 5.3% YoY).

The company has about 2,192 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.

As per MCA filings, the company has open charges of ₹1,654.06 Cr and satisfied charges of ₹1,606.36 Cr on record. Court records list 72 cases involving the company, including 40 filed by the company and 32 filed against it; 18 cases are pending.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website hikal.com.

Company Details of Hikal Limited
CIN L24200MH1988PTC048028
Registration Number 048028
Incorporation Date 08 July 1988
ROC Mumbai
Listing Status Listed (BSE: 524735, NSE: HIKAL)
Company Status Active
Date of Last AGM 23 September 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant

Name History

Hikal has undergone 4 name changes throughout its history. The current legal name is Hikal Limited.

Company NameStatus
Hikal LimitedCurrent
Hikal Chemical Indusries LimitedPrevious
Hikal Chemical Indusries Private LimitedPrevious
Hikal Chemical Industries LimitedPrevious
Hikal Chemical Industries Private LimitedPrevious

CIN History

Hikal has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L24200MH1988PTC048028, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L24200MH1988PTC048028Current
U24200MH1988PTC048028Previous
U24200MH1988PLC048028Previous
Key People
Sameer Jai Hiremath Managing Director Jai Vishwanath Hiremath Whole-Time Director Suresh Sarangan Whole-Time Director

Recognitions & Rankings of Hikal

India's Most Valuable Companies 2021 edition · Source: Hurun India
Rank#455
Valuation
₹6,788 Cr
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Website
    hikal.com
  • Social Media
  • Registered Address
    717/718 Maker Chamber V Nariman Point, Mumbai, Maharashtra, India – 400021
  • Industry
    Chemicals and Materials, Specialty Chemicals
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Financials, compliance, directors, charges, ownership and filings for Hikal Limited in one report.

Financials from 2015 Directors & ownership Charges & compliance

Business Activity

The main business activity of Hikal is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products and other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activities. 2 activity segments are registered with the MCA.

Main Activity Group CodeDescription of Main ActivityBusiness Activity CodeDescription of Business ActivityTurnover Percentage
CManufacturingC6Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical productsLocked
CManufacturingC13Other manufacturing including jewellery, musical instruments, medical instruments, sports goods, etc. activitiesLocked
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Business activity turnover details

Turnover share and past changes in activity are in the company report.

  • Turnover contribution
  • Historical classifications
  • Filing-level activity changes

Financials of Hikal Limited

FY 2025-26 filings available

Hikal Limited reported revenue of ₹1,712.6 Cr (down 7.9% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹1,713 Cr
-7.9% YoY
EBITDA
₹135 Cr
-58.8% YoY
Profit After Tax
₹27.20 Cr
-69.8% YoY
Net Worth
₹1,199 Cr
-5.0% YoY
Total Assets
₹1,990 Cr
-5.3% YoY
Total Debt
₹684 Cr
-10.6% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,7131,8601,7852,0231,9431,7201,507
Revenue growth-7.9%+4.2%-11.8%+4.1%+12.9%+14.1%-
EBITDA135328267257341323258
EBITDA margin+7.9%+17.7%+15.0%+12.7%+17.5%+18.8%+17.1%
Profit before tax(78.30)12495.50105219206127
Net profit27.2090.1769.2377.9216013394.79
Net profit margin+1.6%+4.9%+3.9%+3.9%+8.3%+7.7%+6.3%
EPS (₹)(3.95)7.355.646.3613.0210.806.85
Balance sheet
Total assets1,9902,1022,0931,9501,7961,5661,481
Net worth1,1991,2621,1881,1331,068933816
Total debt684765818748675610646
Cash & bank13.8018.0020.8859.5549.0936.8163.57
Net working capital513601602536573569520
Cash flow
Cash from operations302280187315294229285
Cash from investing(145)(136)(174)(292)(284)(156)(164)
Cash from financing(160)(144)(27.00)(7.68)(5.56)(96.87)(101)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue403519494318380552448453
Revenue growth (YoY)+5.9%-6.0%+10.4%-29.7%-6.5%---
Other income10.706.602.801.901.000.503.600.40
EBITDA37.0058.3044.707.2025.1012372.1074.90
EBITDA margin+9.3%+11.3%+9.1%+2.3%+6.8%+22.4%+16.4%+16.6%
Depreciation42.7042.0041.2041.2039.4037.7033.2031.70
Interest14.9014.6015.5014.9017.1017.9018.7018.80
Profit before tax(9.90)8.30(9.20)(47.00)(30.40)68.3023.8024.80
Tax(2.50)(6.10)(3.30)(12.10)(8.00)18.106.606.50
Net profit(7.40)14.40(5.90)(34.90)(22.40)50.2017.2018.30
EPS (₹)(0.60)1.17(0.48)(2.83)(1.82)4.071.391.48
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,7131,8601,7852,0231,9431,7201,507
Revenue growth-7.9%+4.2%-11.8%+4.1%+12.9%+14.1%-
EBITDA135328267257341323258
EBITDA margin+7.9%+17.7%+15.0%+12.7%+17.5%+18.8%+17.1%
Profit before tax(78.20)12495.40105219206127
Net profit27.3090.2769.0877.9216013394.80
Net profit margin+1.6%+4.9%+3.9%+3.9%+8.3%+7.7%+6.3%
EPS (₹)(3.94)7.365.636.3613.0210.806.85
Balance sheet
Total assets1,9902,1022,0921,9501,7961,5661,481
Net worth1,1991,2621,1881,1331,068933817
Total debt684765818748675610646
Cash & bank13.8017.9020.8059.5349.0936.8163.57
Net working capital513602602536573569520
Cash flow
Cash from operations302280187315294229285
Cash from investing(145)(136)(174)(292)(284)(156)(164)
Cash from financing(160)(144)(27.00)(7.68)(5.56)(96.87)(101)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue403519494318380552448453
Revenue growth (YoY)+5.9%-6.0%+10.4%-29.7%-6.5%---
Other income10.706.602.801.901.000.503.600.40
Total expenses366461450311356429376378
EBITDA36.9058.5044.707.4024.8012472.2074.70
EBITDA margin+9.2%+11.3%+9.1%+2.3%+6.7%+22.5%+16.5%+16.6%
Depreciation42.7042.0041.2041.2039.4037.7033.2031.70
Interest14.9014.6015.5014.9017.1017.9018.7018.80
Profit before tax(10.00)8.50(9.20)(46.80)(30.70)68.4023.9024.60
Tax(2.50)(6.10)(3.30)(12.10)(8.00)18.106.606.50

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue403519494318380552448453
Revenue growth (YoY)+5.9%-6.0%+10.4%-29.7%-6.5%---
Other income10.706.602.801.901.000.503.600.40
EBITDA37.0058.3044.707.2025.1012372.1074.90
EBITDA margin+9.3%+11.3%+9.1%+2.3%+6.8%+22.4%+16.4%+16.6%
Depreciation42.7042.0041.2041.2039.4037.7033.2031.70
Interest14.9014.6015.5014.9017.1017.9018.7018.80
Profit before tax(9.90)8.30(9.20)(47.00)(30.40)68.3023.8024.80
Tax(2.50)(6.10)(3.30)(12.10)(8.00)18.106.606.50
Net profit(7.40)14.40(5.90)(34.90)(22.40)50.2017.2018.30
EPS (₹)(0.60)1.17(0.48)(2.83)(1.82)4.071.391.48
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,7131,8601,7852,0231,9431,7201,507
Revenue growth-7.9%+4.2%-11.8%+4.1%+12.9%+14.1%-
Other income12.305.002.455.414.894.983.70
Total expenses1,5771,5311,5181,7661,6021,3981,250
Employee cost270247247222203164157
EBITDA135328267257341323258
EBITDA margin+7.9%+17.7%+15.0%+12.7%+17.5%+18.8%+17.1%
Depreciation16413411810995.6785.2582.46
Interest62.1075.2056.3748.1031.2236.2052.42
Profit before tax(78.30)12495.50105219206127
Tax(29.50)33.0025.9026.9958.0673.2842.14
Net profit27.2090.1769.2377.9216013394.79
Net profit margin+1.6%+4.9%+3.9%+3.9%+8.3%+7.7%+6.3%
EPS (₹)(3.95)7.355.646.3613.0210.806.85
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital24.7024.7024.6624.6624.6624.6624.66
Reserves & surplus1,1741,2381,1631,1091,043909792
Shareholders' funds (net worth)1,1991,2621,1881,1331,068933816
Minority interest0.000.000.000.000.000.000.00
Secured loans552630711663559514551
Unsecured loans13213410684.9911695.9494.92
Total debt684765818748675610646
Total liabilities1,9902,1022,0931,9501,7961,5661,481
Assets
Gross block2,4042,2251,8021,5641,3881,1281,065
Net block1,3331,3641,071948879713735
Capital work in progress94.50121414412295254161
Investments9.509.505.355.3010.910.610.68
Inventories358334304317329267312
Sundry debtors442522550442438486340
Cash & bank balances13.8018.0020.8859.5549.0936.8163.57
Loans & advances70.6012091.6712113889.5658.29
Total current assets884995967939954879775
Total current liabilities371394365403381310255
Net working capital513601602536573569520
Total assets1,9902,1022,0931,9501,7961,5661,481
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash13.0012.7026.7311.447.6431.6811.41
Net cash from operating activities302280187315294229285
Net cash from investing activities(145)(136)(174)(292)(284)(156)(164)
Net cash from financing activities(160)(144)(27.00)(7.68)(5.56)(96.87)(101)
Net change in cash(3.40)0.30(14.03)15.293.80(24.05)20.27
Closing cash13.8018.0020.8859.5549.0936.8163.57
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-7.9%+4.2%-11.8%+4.1%+12.9%+14.1%-
EBITDA growth-58.8%+23.0%+3.9%-24.5%+5.5%+25.3%-
PBT growth-+29.6%-9.4%-51.8%+5.9%+63.1%-15.1%
Net income growth-69.8%+30.3%-11.2%-51.4%+20.5%+40.4%-
Revenue CAGR (3Y)-5.4%-1.4%+1.2%+10.3%+6.9%+9.9%+14.1%
EBITDA CAGR (3Y)-19.3%-1.2%-6.1%-0.1%+4.5%+10.1%+9.9%
Profitability & leverage
Net income margin-2.9%+4.9%+3.9%+3.9%+8.3%+7.7%+5.6%
Return on capital employed+3.4%+9.5%+7.5%+8.2%+14.9%+15.9%+13.4%
Return on net worth+2.2%+7.4%+6.0%+7.1%+16.0%+15.2%+12.1%
Debt / equity0.590.650.670.650.640.720.83
Long-term debt / equity0.300.320.390.350.270.320.38
Interest cover-217.8938.7637.7332.4912.7515.2329.90
Efficiency & per share
Fixed asset turnover0.740.921.061.371.541.571.49
Inventory turnover4.955.835.756.276.525.944.45
Debtors turnover3.553.473.604.604.214.174.37
EPS (₹)(3.95)7.355.646.3613.0210.806.85
Dividend per share (₹)0.601.401.201.201.602.001.20
Book value per share (₹)97.07102.2196.3291.9386.6275.7066.22
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue403519494318380552448453
Revenue growth (YoY)+5.9%-6.0%+10.4%-29.7%-6.5%---
Other income10.706.602.801.901.000.503.600.40
Total expenses366461450311356429376378
EBITDA36.9058.5044.707.4024.8012472.2074.70
EBITDA margin+9.2%+11.3%+9.1%+2.3%+6.7%+22.5%+16.5%+16.6%
Depreciation42.7042.0041.2041.2039.4037.7033.2031.70
Interest14.9014.6015.5014.9017.1017.9018.7018.80
Profit before tax(10.00)8.50(9.20)(46.80)(30.70)68.4023.9024.60
Tax(2.50)(6.10)(3.30)(12.10)(8.00)18.106.606.50
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,7131,8601,7852,0231,9431,7201,507
Revenue growth-7.9%+4.2%-11.8%+4.1%+12.9%+14.1%-
Other income12.305.002.505.414.894.983.70
Total expenses1,5771,5311,5181,7661,6021,3981,250
Employee cost266242244220201164157
EBITDA135328267257341323258
EBITDA margin+7.9%+17.7%+15.0%+12.7%+17.5%+18.8%+17.1%
Depreciation16413411810995.6785.2582.46
Interest62.1075.2056.4048.1031.2236.2052.42
Profit before tax(78.20)12495.40105219206127
Tax(29.50)33.0025.9026.9958.0673.2842.14
Net profit27.3090.2769.0877.9216013394.80
Net profit margin+1.6%+4.9%+3.9%+3.9%+8.3%+7.7%+6.3%
EPS (₹)(3.94)7.365.636.3613.0210.806.85
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital24.7024.7024.7024.6624.6624.6624.66
Reserves & surplus1,1741,2381,1631,1091,043909792
Shareholders' funds (net worth)1,1991,2621,1881,1331,068933817
Secured loans552630712663559514551
Unsecured loans13213410684.9911695.9494.92
Total debt684765818748675610646
Total liabilities1,9902,1022,0921,9501,7961,5661,481
Assets
Gross block2,4042,2251,8021,5641,3881,1281,065
Net block1,3331,3641,071948879713735
Capital work in progress94.50121414412295254161
Investments9.509.505.405.3110.920.620.69
Inventories358334304317329267312
Sundry debtors442522550442438486340
Cash & bank balances13.8017.9020.8059.5349.0936.8163.57
Loans & advances70.6012291.7012113889.5658.29
Total current assets884997966939954879775
Total current liabilities371395364403381310255
Net working capital513602602536573569520
Total assets1,9902,1022,0921,9501,7961,5661,481
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash12.9012.6026.7011.447.6431.6811.41
Net cash from operating activities302280187315294229285
Net cash from investing activities(145)(136)(174)(292)(284)(156)(164)
Net cash from financing activities(160)(144)(27.00)(7.68)(5.56)(96.87)(101)
Net change in cash(3.30)0.30(14.10)15.273.80(24.05)20.27
Closing cash13.8017.9020.8059.5349.0936.8163.57
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-7.9%+4.2%-11.8%+4.1%+12.9%+14.1%-
EBITDA growth-58.8%+23.1%+3.8%-24.5%+5.5%+25.3%-
PBT growth-+29.9%-9.5%-51.8%+5.9%+63.1%-15.1%
Net income growth-69.8%+30.7%-11.3%-51.4%+20.5%+40.4%-
Revenue CAGR (3Y)-5.4%-1.4%+1.2%+10.3%+6.9%+9.9%+14.1%
EBITDA CAGR (3Y)-19.2%-1.2%-6.2%-0.1%+4.5%+10.1%+9.3%
Profitability & leverage
Net income margin-2.8%+4.9%+3.9%+3.9%+8.3%+7.7%+5.6%
Return on capital employed+3.4%+9.5%+7.5%+8.2%+14.9%+15.9%+13.4%
Return on net worth+2.2%+7.4%+6.0%+7.1%+16.0%+15.2%+12.1%
Debt / equity0.590.650.670.650.640.720.83
Long-term debt / equity0.300.320.390.350.270.320.38
Interest cover-218.6638.7437.7832.4912.7515.2329.90
Efficiency & per share
Fixed asset turnover0.740.921.061.371.541.571.49
Inventory turnover4.955.835.756.276.525.944.45
Debtors turnover3.553.473.604.604.214.174.37
EPS (₹)(3.94)7.365.636.3613.0210.806.85
Dividend per share (₹)0.601.401.201.201.602.001.20
Book value per share (₹)97.09102.2096.1691.9386.6275.7066.22
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Board of Directors of Hikal Limited

Hikal has 11 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Shivani Bhasin Sachdeva
Also directs: Gynoveda Femtech Private Limited, Brinton Pharmaceuticals Limited, Brinton Healthcare Limited and 3 more
Director01 Aug 20197 Years 2 MonthsCurrent
Jai Vishwanath Hiremath
Also directs: Castilia Life Sciences LLP, Rushabh Capital Services Private Limited, Zirad Art and Heritage Foundation and 2 more
Whole-Time Director01 Jul 200818 Years 3 MonthsCurrent
Sameer Jai Hiremath
Also directs: Marigold Investment Pvt Ltd, Zirad Art and Heritage Foundation, Acoris Research Limited and 1 more
Managing Director26 May 199927 Years 4 MonthsCurrent
Sugandha Jaidev Hiremath
Also directs: Castilia Life Sciences LLP, Marigold Investment Pvt Ltd, Rushabh Capital Services Private Limited and 1 more
Director05 Feb 199234 Years 8 MonthsCurrent
Amit Babasaheb Kalyani
Also directs: Novel Engineering and Technology Consultants LLP, India Internet Domain LLP, Zephyr Engineering and Technology Consultants LLP and 5 more
Director09 Feb 201214 Years 8 MonthsCurrent
Shrikrishna Kiran Adivarekar
Also directs: Kalyani Investment Company Limited, K V B A & Associates LLP, Nandi Infrastructure Corridor Enterprise Limited
Director22 Dec 20214 Years 10 MonthsCurrent
Showing 6 of 11 current directors. View all directors

Peer Comparison

Hikal Limited is compared with the companies closest to it by revenue in the Chemicals industry (API Manufacturers, Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products). Net profit, margin and employee counts of each company are in the company report.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Kutch Chemical Industries Limited₹1,985.16 Cr (FY 2024)••••••••-33.0%••••New Delhi, Delhi, India
Pfizer Healthcare India Private Limited₹1,981.45 Cr (FY 2025)••••••••4.0%••••Chennai, Tamil Nadu, India
MSN Life Sciences Private Limited₹1,961.87 Cr (FY 2024)••••••••54.0%••••Hyderabad, Telangana, India
Aarti Pharmalabs Limited Listed₹1,857.5 Cr (FY 2024)••••••••-5.0%••••Vapi, Gujarat, India
Morepen Laboratories Limited Listed₹1,829.94 Cr (FY 2025)••••••••7.0%••••Himachal Pradesh, India
TGV Sraac Limited Listed₹1,763.22 Cr (FY 2025)••••••••13.0%••••Kurnool, Andhra Pradesh, India
MSN Pharmachem Private Limited₹1,716.51 Cr (FY 2024)••••••••40.0%••••Hyderabad, Telangana, India
Hikal Limited this company₹1,712.6 Cr (FY 2026)••••••••-7.9%••••Mumbai, Maharashtra, India

Peers are the companies nearest to Hikal by revenue, above and below it, in the Chemicals industry (API Manufacturers, Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.

Auditor Details

Hikal Limited is audited by S R B C & CO LLP for the financial year 2023.

NameStatusAppointment DateCessation Date
S R B C & CO LLPLockedLockedLocked

Complete auditor history: available in the company report

Shareholding Pattern

Shareholding for the quarter ended Sep 2026: promoters hold 68.80%, foreign institutional investors hold 1.00%, domestic institutional investors hold 7.20% and retail and other public shareholders hold 23.00%.

Promoters: 68.80%DII (Domestic Institutional): 7.20%FII (Foreign Institutional): 1.00%Retail & Others: 23.00%
Sep 2026
QUARTER
68.80% Promoters
7.20% DII (Domestic Institutional)
1.00% FII (Foreign Institutional)
23.00% Retail & Others
Promoter holding - history
Now 68.80% · Sep 2026High 68.80% · Dec 2025Low 68.80% · Dec 2025
67%67.8%68.5%69.3%70%Dec 2025Mar 2026Jun 2026Sep 2026Dec 2025: 68.80%Mar 2026: 68.80%Jun 2026: 68.80%Sep 2026: 68.80%68.80%68.80%
Shareholding trend - last 6 quarters
Sep 2026Jun 2026Mar 2026Dec 2025
Promoters68.80%68.80%68.80%68.80%
Public31.20%31.20%31.20%31.20%

Charges & Borrowings

Open charges
₹1,654.06 Cr
Satisfied charges
₹1,606.36 Cr
Breakdown by lending institutions
Others₹1,025.00 Cr
Axis Bank Limited₹385.00 Cr
Hdfc Bank Limited₹75.00 Cr
Uti Bank Ltd₹60.00 Cr
Uti Bank Ltd.₹30.00 Cr
Others₹79.06 Cr
Latest charge details
DateLenderAmountStatus
09 Feb 2026Others₹100 CrOpen
12 Feb 2025Others₹50 CrOpen
01 Aug 2023Others₹375 CrOpen
08 Nov 2022Others₹100 CrOpen
21 Jul 2020Others₹250 CrOpen

Total charge records: 74 View all charges

MSME Payment Delays

Hikal Limited has 21 MSME Form 1 returns on record between 2019 and 2024, listing 7,638 overdue payments to 704 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (5 of 704)

SupplierAmount dueDue sinceReported on
an individual supplier••••••••••••
Surabhi Transport Private Limited••••••••••••
Krishna Mech Seal Engineering••••••••••••
Activaa Technocontrols Private Limited••••••••••••
an individual supplier••••••••••••

Full MSME payment history: available in the company report

Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.

Employees and EPFO Compliance

Hikal Limited has a workforce of 2,192 employees as of Apr 01, 2024.

Employee count
2,192
Active EPFO establishments
7
Employee growth
6.51%

Employee and EPFO history: available in the company report

Group Structure

Hikal has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.

1
Subsidiary companies
Key Subsidiaries
Company NameCINShares Held
Acoris Research LimitedU72100MH2000PLC127909-

Showing major subsidiaries. Total: 1.

Recent Activity

Hikal Limited has 35 board changes on record since 1992: 23 appointments and 12 cessations. The latest: Sandip Ashwinbhai Parikh was appointed as Additional Director on 27 May 2026.

Appointed
Sandip Ashwinbhai Parikh was appointed as Additional Director.
Charges
A charge with Others amounted to Rs. 100.00 Cr with Charge ID 101243236 was registered on 09 Feb 2026.
Charges
A charge with Others of Rs. 375.00 Cr registered on 01 Aug 2023 with Charge ID 100802259 was modified on 11 Dec 2025.
Charges
A charge with Others of Rs. 100.00 Cr registered on 08 Nov 2022 with Charge ID 100645612 was modified on 11 Dec 2025.
Ceased
Berjis Minoo Desai ceased to be Director.
AGM
Hikal Limited last Annual general meeting of members was held on 23 Sep 2025 as per latest MCA records.
Filing
Hikal Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai I.
Charges
A charge with Others amounted to Rs. 50.00 Cr with Charge ID 101056549 was registered on 12 Feb 2025.
Appointed
Suresh Sarangan was appointed as Whole-Time Director.
Ceased
Prakash Vasantlal Mehta ceased to be Director.
Ceased
Unni Kadankote Kannan ceased to be Director.
Appointed
Ranjana Shivanand Salgaocar was appointed as Director.

194 earlier events are listed in the company report.

Credit Ratings, Litigation & Regulatory Alerts

Credit ratings, litigation, and regulatory alerts: available in the company report

Subsidiaries & Group Companies

Corporate group structure: available in the company report

GST Compliance

Hikal has 5 GST registrations: 4 active and 1 cancelled or inactive.

Total GSTINs
5
Active
4
Cancelled / inactive
1
GSTINStateStatusRegistered on
27AAACH0383A1Z5MaharashtraActive01 Jul 2017
27AAACH0383A3Z3MaharashtraActive14 Dec 2017
24AAACH0383A1ZBGujaratActive01 Jul 2017
29AAACH0383A1Z1KarnatakaActive01 Jul 2017

GST registrations and filing compliance: available in the company report

MCA Filings & Documents

MCA filings and documents: available in the company report

Related news

HIKAL: Company Shareholders Approve Sameer Hiremath As Chairman & Managing Director For Five Years Starting October 1.
23 Sep 2026 · Exchange Update
HIKAL: Starts Production At New CGMP Plant In Panoli For Personal Care Items, Entering The Global Beauty Sector; Initial Focus Is On Skin Care With Advanced UV Filters And Customers Are Happy.
22 Sep 2026 · Exchange Update

Frequently Asked Questions

Hikal is an active company based in Mumbai, Maharashtra, India. The company works in specialty chemicals, within the chemicals and materials industry. It was incorporated on 08 July 1988 (38+ years old) and is registered under CIN L24200MH1988PTC048028. Listed on BSE: 524735 and NSE: HIKAL.

Hikal reported revenue of ₹1,712.6 Cr for FY 2025-26 (down 7.9% YoY) based on consolidated financials.

Hikal has 11 current directors:

The latest financial statements of Hikal on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 23 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Hikal is 27AAACH0383A1Z5, registered in Maharashtra. The company has 5 GST registrations in all, of which 4 are active and 1 is cancelled or inactive. Other active GSTINs include 27AAACH0383A3Z3 (Maharashtra), 24AAACH0383A1ZB (Gujarat), 29AAACH0383A1Z1 (Karnataka).

The CIN (Corporate Identification Number) of Hikal is L24200MH1988PTC048028. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Hikal is listed on both BSE (code: 524735) and NSE (symbol: HIKAL).

Hikal has 72 court cases on record: 40 filed by the company and 32 filed against it. 18 are pending. Most are in the high courts.

Hikal was incorporated on 08 July 1988, making it 38+ years old. It is registered with the Registrar of Companies, Mumbai.

The peers of Hikal by revenue are Kutch Chemical Industries Limited, Pfizer Healthcare India Private Limited, MSN Life Sciences Private Limited, Aarti Pharmalabs Limited, Morepen Laboratories Limited and 2 more, all in the Chemicals industry (API Manufacturers, Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).

Sandip Ashwinbhai Parikh was appointed as Additional Director on 27 May 2026. Berjis Minoo Desai ceased to be Director on 01 Oct 2025. Suresh Sarangan was appointed as Whole-Time Director on 01 Apr 2024. Hikal has 35 board changes on record in total.

Hikal has 21 MSME Form 1 returns on record between 2019 and 2024, listing 7,638 overdue payments to 704 micro and small suppliers. The latest return was filed on 26 Apr 2024.

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