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Hester Biosciences Limited (524669) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Hester Biosciences Limited ₹1,295, price ₹2,141, upside -39.5%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Healthcare · IN · ISIN INE782E01017

HB Broad data Sep 24, 2026

Hester Biosciences Limited

524669 · BSE

Stretched ValuationQuality growthStrong overvaluation with only moderate quality.

!Fair value ₹1,295 · Strongly overvalued (−39.5%)
✓Quality 65/100
!Mixed Growth (revenue 5y +11.2 %/yr)
✓Solidly profitable · 13.9% net margin (TTM)
✓Low debt
✓0.3% dividend yield · Well covered
!Moderate moat 64/100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹3,188 ₹1,250 Fair Value ₹1,295 Apr 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ₹1,250 – ₹3,188 · fair‑value band ₹676.88 – ₹1,777 · the ₹2,141 price screens above the ₹1,295 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Hester Biosciences Limited manufactures and trades in veterinary vaccines and health products in India. It operates through Poultry healthcare, Animal Healthcare, and Others segments.

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Hester Biosciences Limited manufactures and trades in veterinary vaccines and health products in India. It operates through Poultry healthcare, Animal Healthcare, and Others segments. The Poultry Healthcare segment vaccines for diseases such as fowl pox, Newcastle disease, infectious bronchitis, and others; feed supplements, such as growth tonic, toxin binder, and herbal supplement; disinfectants for farms and equipment; and sanitizers. The Animal Healthcare segment vaccines for large animals against Goat Pox, Peste des Petits Ruminants, and Brucellosis disease; anti-infective, antiparasite, non-steroidal anti-inflammatory, and anthelmintic drugs; food supplements, including growth tonic, mineral mixture, fertility supplement, and bypass fat; farms and equipment disinfectants; and udder management services. It also offers ELISA & PCR diagnostic kits; NDV and IBV ELISA kits for sero-monitoring of poultry; and PCR molecular diagnostic kits for various diseases. The company also exports its products. Hester Biosciences Limited has a collaboration agreement with Indian Institute of Technology Guwahati to develop vaccine against COVID-19. The company was founded in 1987 and is headquartered in Ahmedabad, India.

Stock analysis

Hester Biosciences Limited (524669) currently trades at ₹2,141, while our model-based Fair Value estimate is ₹1,295, 39.5% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹647.70 per share, and 0 of the 26 models we run sit above the ₹2,141 price.

Bear case: the Economic Profit group reads lowest at ₹177.98, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Scenario range: ₹676.88 (bear) to ₹1,777 (bull), the price of ₹2,141 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 65/100 (solid quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Hester Biosciences Limited reported revenue of ₹3.1B in FY2025 versus ₹2.1B in FY2021, a compound +9.8%/yr. Reported net income was ₹275M in FY2025, compounding −5.5%/yr from FY2021.

Key figures

Market cap ₹18.2B (≈ $189M) · P/E ratio 70.3 · P/S ratio 6.21 · EPS (TTM) ₹31.13 · Dividend yield 0.3% · Net margin 8.8% · Return on equity 14.1% · Return on assets (EBIT) 7.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 14% below its 52-week high and 70% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −19% fair-value upside, at −39%, 524669 screens richer than that median.

Fair Value models

Bear ₹676.88 Fair Value ₹1,295 Bull ₹1,777
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹24.53 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF ₹337.54 ₹639.50 ₹1,081 77
Growth DCF ₹327.03 ₹584.41 ₹931.99 76
Residual Income ₹281.47 ₹291.65 ₹322.55 76
All 26 models by family
DCF Models
FCF DCF ₹337.54 ₹639.50 ₹1,081 77
Owner Earnings ₹112.98 ₹275.91 ₹513.98 72
5Y Revenue Exit ₹326.84 ₹667.72 ₹1,129 69
5Y EBITDA Exit ₹460.72 ₹946.44 ₹1,559 72
5Y P/E Exit ₹334.88 ₹684.47 ₹1,084 68
10Y Revenue Exit ₹310.47 ₹606.38 ₹1,057 64
10Y EBITDA Exit ₹399.11 ₹781.95 ₹1,367 65
10Y P/E Exit ₹327.37 ₹616.92 ₹1,024 61
Earnings-Based
Graham-Dodd ₹219.73 ₹1,062 ₹1,462 64
Lynch FV ₹283.87 ₹405.52 ₹527.18 61
PEG = 1.0 ₹283.87 ₹405.52 ₹527.18 57
EPV ₹142.82 ₹177.98 ₹206.52 74
Dividend Discount
Gordon GGM ₹42.32 ₹70.88 ₹91.99 68
DDM Multi-Stage ₹42.32 ₹67.22 ₹76.25 67
Multiples
P/E Multiple ₹533.16 ₹710.88 ₹888.60 63
P/S Multiple ₹411.99 ₹549.32 ₹686.65 58
P/B Multiple ₹411.99 ₹549.32 ₹686.65 55
EV/EBIT ₹527.57 ₹753.50 ₹979.43 65
EV/EBITDA ₹615.35 ₹870.54 ₹1,126 67
EV/Revenue ₹333.54 ₹540.86 ₹748.19 53
Asset-Based
NCAV (Graham) ₹184.71 ₹247.51 ₹369.41 54
Growth DCF
Growth DCF ₹327.03 ₹584.41 ₹931.99 76
Rev-Margin DCF ₹326.84 ₹660.56 ₹1,097 70
Economic Profit
Residual Income ₹281.47 ₹291.65 ₹322.55 76
ROIC Compounder ₹142.82 ₹177.98 ₹206.52 72
Growth Earnings
Growth-Adj P/E ₹453.39 ₹647.70 ₹842.01 67

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Quality Score breakdown

Overall quality 65/100

Of which business quality 61 · Market factors (momentum, volatility) 59

Profitability 41
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.2%
Start year 2020 (pandemic). Over 10 years: +13.2% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.7%
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−4.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.4%
Dividend (yield on the price)0.3%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.23% → 15%

524669 screens overvalued: fair value 39% below the price. Compare with Merck KGaA →

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Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Cite: Fair Value Calculator (2026). "Hester Biosciences Limited Fair Value". https://www.fairvalue-calculator.com/stock/524669

Frequently asked questions

Is Hester Biosciences Limited (524669) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹1,295 versus a price of ₹2,141, about −39% upside (overvalued).
What is the fair value of 524669?
Our model-based fair value for Hester Biosciences Limited is ₹1,295 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹2,141.
What is the quality score of 524669?
Hester Biosciences Limited has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Hester Biosciences Limited (524669)?
Our model-based price target is the fair value of ₹1,295 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario ₹676.88, optimistic scenario ₹1,777. It is a calculation from audited fundamentals, not an analyst target.
What is the Hester Biosciences Limited stock forecast for 2026?
Our models put fair value at ₹1,295, about −39% upside versus a price of ₹2,141 (overvalued). Cautious scenario ₹676.88, optimistic scenario ₹1,777. The calculation is refreshed regularly with new filings.
What is the revenue of Hester Biosciences Limited (524669)?
Hester Biosciences Limited reported trailing-twelve-month revenue of about ₹1.9B (latest available figure, as of Sep 24, 2026).
Does Hester Biosciences Limited pay a dividend?
Hester Biosciences Limited currently shows a dividend yield of about 0.31% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Hester Biosciences Limited (524669)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hester Biosciences Limited it is ₹1,295 per share (as of Sep 24, 2026), against a price of ₹2,141. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hester Biosciences Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 524669 trades above its calculated fair value: price ₹2,141, fair value ₹1,295, a gap of about −39% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 524669?
No. The price is what the market pays today (₹2,141); the fair value is what the company's own numbers justify (₹1,295). For Hester Biosciences Limited the two are ₹845.20 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hester Biosciences Limited worth?
The market values Hester Biosciences Limited at about ₹18.2B (market capitalisation, as of Sep 24, 2026). Per share that is ₹2,141; our models calculate a fair value of ₹1,295 per share.
What do the bullish and bearish scenarios say about 524669?
Our models span a range for Hester Biosciences Limited: cautious scenario ₹676.88, base ₹1,295, optimistic ₹1,777 per share (as of Sep 24, 2026, price ₹2,141). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 524669 from its 52-week high?
Hester Biosciences Limited trades at ₹2,141, about 14% below its 52-week high of ₹2,502 and 70% above the low of ₹1,263 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,295 is for.
Which stocks are comparable to Hester Biosciences Limited?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Limited, Sun Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Hester Biosciences Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹2,141, calculated fair value ₹1,295 (−39%), Quality Score 65/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 524669 calculated?
We run Hester Biosciences Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹1,295, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Hester Biosciences Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Hester Biosciences Limited (524669)?
The closing price on Oct 1, 2026 was ₹2,141. Our model-based fair value is ₹1,295, about −39% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hester Biosciences Limited right now?
The price sits above even our optimistic bull case (₹1,777). The favourable scenario is already priced in. The model range is unusually wide (₹676.88 to ₹1,777). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Hester Biosciences Limited

How large is the market capitalisation of Hester Biosciences Limited (524669)?
The market capitalisation of Hester Biosciences Limited is ₹18.2B (≈ $189M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Hester Biosciences Limited (524669)?
The price-to-earnings ratio of Hester Biosciences Limited is 70.3. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Hester Biosciences Limited (524669)?
The price-to-sales ratio of Hester Biosciences Limited is 6.21 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hester Biosciences Limited (524669)?
Earnings per share at Hester Biosciences Limited are ₹31.13 (price ÷ EPS = P/E 70.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hester Biosciences Limited (524669)?
The dividend yield of Hester Biosciences Limited is 0.3% (payout 21.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hester Biosciences Limited (524669)?
The net margin of Hester Biosciences Limited is 8.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Hester Biosciences Limited (524669)?
The return on equity (ROE) of Hester Biosciences Limited is 14.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Hester Biosciences Limited (524669)?
On an EBIT basis the return on assets of Hester Biosciences Limited is 7.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Hester Biosciences Limited (524669)?
The operating margin of Hester Biosciences Limited is 24.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hester Biosciences Limited (524669)?
Revenue at Hester Biosciences Limited is growing +19.5% versus a year earlier (3y avg +9.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Hester Biosciences Limited (524669)?
Earnings per share at Hester Biosciences Limited are growing +7.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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