Hikal Limited (524735) fair value: what the stock is really worth
We calculate from audited financials what Hikal Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range ₹147.05 – ₹697.55 · fair‑value band ₹77.77 – ₹178.28 · the ₹224.90 price screens above the ₹132.36 fair value. Dashed = 300-day average. As of Sep 13, 2026.
Hikal Limited, together with its subsidiaries, manufactures and sells various chemical intermediates, specialty chemicals, and active pharma ingredients to pharmaceutical, food, animal healthcare, biotech, crop protection, and specialty chemicals and biocides companies. It operates in two segments, Pharmaceuticals and Crop Protection.
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Hikal Limited, together with its subsidiaries, manufactures and sells various chemical intermediates, specialty chemicals, and active pharma ingredients to pharmaceutical, food, animal healthcare, biotech, crop protection, and specialty chemicals and biocides companies. It operates in two segments, Pharmaceuticals and Crop Protection. The Pharmaceuticals segment produces active pharmaceutical ingredient (APIs). The Crop Protection segment manufactures pesticides and herbicides. The company collaborates with other companies and offer solutions in contract research, custom synthesis, and custom manufacturing of intermediates and APIs. It also provides specialty biocides and antimicrobial actives, as well as additives for leather, paint coatings, paper, water treatment, personal care, building materials, and textile industries. The company was founded in 1988 and is headquartered in Navi Mumbai, India.
Stock analysis
Hikal Limited (524735) currently trades at ₹224.90, while our model-based Fair Value estimate is ₹132.36, implying the stock looks roughly 69.9% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹163.27 per share, and 4 of the 26 models we run sit above the ₹224.90 price.
Bear case: the Dividend Discount group reads lowest at ₹17.29, and 22 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹77.77 (bear) to ₹178.28 (bull), the price of ₹224.90 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 60/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hikal Limited reported revenue of ₹18.6B in FY2025 versus ₹17.2B in FY2021, a compound +2.0%/yr. Reported net income was ₹908M in FY2025, compounding −9.1%/yr from FY2021.
Key figures
Market cap ₹27.7B (≈ $291M) · P/E ratio 29.7 · P/S ratio 1.45 · EPS (TTM) ₹7.69 · Dividend yield 0.2% · Net margin 4.9% · Return on equity 11.6% · Return on assets (EBIT) 8.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 54% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −17% fair-value upside, at −41%, 524735 screens richer than that median.
Fair Value models
Bear ₹77.77Fair Value ₹132.36Bull ₹178.28
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 (₹7.29 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.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.
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.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
−2.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.5%
Dividend (yield on the price)0.2%
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.12% → 10%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Drug Manufacturers - Specialty & Generic · 612 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−44% · Below median
Profitability
Return on equity (TTM)12% · Above median
Return on assets7% · Top 25%
Net margin (TTM)6% · Below median
Operating margin (TTM)12% · Above median
Growth and dividend
Revenue growth16% · Top 25%
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity0.29× · Highest 25%
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Hikal Limited Fair Value". https://www.fairvalue-calculator.com/stock/524735
Frequently asked questions
Is Hikal Limited (524735) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of ₹132.36 versus a price of ₹224.90, about −41% upside (overvalued).
What is the fair value of 524735?
Our model-based fair value for Hikal Limited is ₹132.36 (as of Sep 13, 2026), built from audited fundamentals. The current price: ₹224.90.
What is the quality score of 524735?
Hikal Limited has a Quality Score of 60/100. 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 Hikal Limited (524735)?
Our model-based price target is the fair value of ₹132.36 (as of Sep 13, 2026) from 26 valuation models. Cautious scenario ₹77.77, optimistic scenario ₹178.28. It is a calculation from audited fundamentals, not an analyst target.
What is the Hikal Limited stock forecast for 2026?
Our models put fair value at ₹132.36, about −41% upside versus a price of ₹224.90 (overvalued). Cautious scenario ₹77.77, optimistic scenario ₹178.28. The calculation is refreshed regularly with new filings.
What is the revenue of Hikal Limited (524735)?
Hikal Limited reported trailing-twelve-month revenue of about ₹15.1B (latest available figure, as of Sep 13, 2026).
Does Hikal Limited pay a dividend?
Hikal Limited currently shows a dividend yield of about 0.18% relative to its recent price (as of Sep 13, 2026).
What is the intrinsic value of Hikal Limited (524735)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hikal Limited it is ₹132.36 per share (as of Sep 13, 2026), against a price of ₹224.90. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hikal Limited stock overvalued or undervalued in 2026?
As of Sep 13, 2026, 524735 trades above its calculated fair value: price ₹224.90, fair value ₹132.36, a gap of about −41% (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 524735?
No. The price is what the market pays today (₹224.90); the fair value is what the company's own numbers justify (₹132.36). For Hikal Limited the two are ₹92.54 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hikal Limited worth?
The market values Hikal Limited at about ₹27.7B (market capitalisation, as of Sep 13, 2026). Per share that is ₹224.90; our models calculate a fair value of ₹132.36 per share.
What do the bullish and bearish scenarios say about 524735?
Our models span a range for Hikal Limited: cautious scenario ₹77.77, base ₹132.36, optimistic ₹178.28 per share (as of Sep 13, 2026, price ₹224.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 524735?
Hikal Limited trades at a price-to-earnings ratio of 29.7 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹132.36 is built from several models across several years. Other multiples: P/B 1.7, P/S 1.4, EV/EBITDA 9.2.
How solid is the balance sheet of Hikal Limited (524735)?
Balance-sheet figures for Hikal Limited (as of Sep 13, 2026): return on equity 11.6%, debt of 0.29 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 524735 from its 52-week high?
Hikal Limited trades at ₹224.90, about 20% below its 52-week high of ₹282.44 and 54% above the low of ₹145.95 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of ₹132.36 is for.
Which stocks are comparable to Hikal Limited?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, 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 Hikal Limited stock attractive at the current price?
The data as of Sep 13, 2026: price ₹224.90, calculated fair value ₹132.36 (−41%), Quality Score 60/100, 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 524735 calculated?
We run Hikal 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 ₹132.36, 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 15.8 % above its aggregate fair value. Hikal 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 should I pay attention to with Hikal Limited right now?
The price sits above even our optimistic bull case (₹178.28). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹77.77 to ₹178.28) leaves room in how you read the outcome.
Key figures of Hikal Limited
How large is the market capitalisation of Hikal Limited (524735)?
The market capitalisation of Hikal Limited is ₹27.7B (≈ $291M). 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/S ratio of Hikal Limited (524735)?
The price-to-sales ratio of Hikal Limited is 1.45 (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 Hikal Limited (524735)?
Earnings per share at Hikal Limited are ₹7.69 (price ÷ EPS = P/E 29.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hikal Limited (524735)?
The dividend yield of Hikal Limited is 0.2% (payout 5.2%). 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 Hikal Limited (524735)?
The net margin of Hikal Limited is 4.9% (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 Hikal Limited (524735)?
The return on equity (ROE) of Hikal Limited is 11.6% (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 Hikal Limited (524735)?
On an EBIT basis the return on assets of Hikal Limited is 8.7% (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 Hikal Limited (524735)?
The operating margin of Hikal Limited is 12.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hikal Limited (524735)?
Revenue at Hikal Limited is growing +15.8% versus a year earlier (3y avg −1.4%). 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 Hikal Limited (524735)?
Earnings per share at Hikal Limited are growing +319% versus a year earlier. How much earnings per share grew versus a year earlier.
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