Hester Biosciences Limited (HESTERBIO) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Hester Biosciences Limited ₹2,009, price ₹2,127, upside -5.6%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 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 Oct 2, 2026.
How to read this chart
60‑month range ₹1,245 – ₹3,180 · fair‑value band ₹1,062 – ₹2,935 · the ₹2,127 price screens above the ₹2,009 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Hester Biosciences Limited manufactures and trades in veterinary vaccines and health products in India and internationally. It operates through two segments, Poultry Healthcare and Animal Healthcare.
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Hester Biosciences Limited manufactures and trades in veterinary vaccines and health products in India and internationally. It operates through two segments, Poultry Healthcare and Animal Healthcare. The company provides poultry vaccines for newcastle disease, infectious bronchitis, infectious bursal, fowl pox, marek's disease, infectious coryza, fowl cholera, inclusion body hepatitis, fowl typhoid, and avian encephalomyelitis. It also offers vaccines for peste des petits ruminants, goat pox, brucella, lumpy skin disease, contagious bovine pleuropneumonia, and contagious caprine pleuropneumonia for cattle, buffalo, sheep, and goats; and diagnostic services. In addition, the company provides animal healthcare products, such as biosecurity solutions, therapeutics, nutritional supplements, and specialised formulations to enhance animal wellness and productivity. Further, it offers various pet care products, including gut health solutions, NSAIDs, joint care formulations, parasiticides, grooming products, and anti-infective formulations; and healthcare products, such as immune boosters, gut health enhancers, farm hygiene, vitamins, minerals, and specialty feed supplements for critical needs comprising disease prevention, growth, and nutritional balance. Additionally, the company provides Silvectant, a hydrogen peroxide and silver nitrate solution for disinfection of poultry sheds; Hestbac, a probiotic supplement to control pathogenic bacteria; Hestflora, a combined probiotic and prebiotic formulation that supports gut health and performance; AmmoStop, a probiotic blend for odour control and respiratory comfort in poultry farms. It also offers INACTIVATED H9N2 vaccine for low pathogenic avian influenza; ICEFT RTU, a ceftiofur formulation for uterine and bacterial infections; and Inomilk Gel, an oral calcium supplement, as well as operates diagnostic labs for poultry. Hester Biosciences Limited was incorporated in 1987 and is headquartered in Mehsana, India.
Stock analysis
Hester Biosciences Limited (HESTERBIO) currently trades at ₹2,127, while our model-based Fair Value estimate is ₹2,009, so the stock looks roughly fairly valued today (gap 5.9%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,339 per share, and 1 of the 26 models we run sit above the ₹2,127 price.
Bear case: the Asset-Based group reads lowest at ₹283.72, and 25 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹1,062 (bear) to ₹2,935 (bull), the price of ₹2,127 sits inside 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.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Hester Biosciences Limited reported revenue of ₹3.3B in FY2026 versus ₹2.4B in FY2022, a compound +9.1%/yr. Reported net income was ₹556M in FY2026, compounding +9.1%/yr from FY2022.
Key figures
Market cap ₹21.1B (≈ $219M) · P/E ratio 13.4 · P/S ratio 2.24 · EPS (TTM) ₹158.83 · Dividend yield 0.5% · Net margin 16.7% · Return on equity 16.6% · Return on assets (EBIT) 10.1%.
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 16% 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 −6%, HESTERBIO screens cheaper than that median.
Fair Value models
Bear ₹1,062Fair Value ₹2,009Bull ₹2,935
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 2026 figures (about 6 months old). Earnings retained since then (₹75.33 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.
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.89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.9%
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.
+7.7%
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.
+9.2%
Start year 2021 (pandemic). Over 10 years: +12.7% a year
Revenue growth 20 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.
+15.1%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+4.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.1%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.10.8% vs 11.8%, steady
Profit margin 2021 to 2026 ⓘ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.27% → 20%
2026 sits 116% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+36.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +30.9% a year for the price.
Compare Hester Biosciences Limited with another stock
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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 · 580 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside−5.6% · Above median
Profitability
Return on equity (TTM)16.6% · Top 25%
Return on assets6.5% · Top 25%
Net margin (TTM)41.6% · Top 25%
Operating margin (TTM)20.4% · Top 25%
Growth and dividend
Revenue growth−8.2% · Below median
Dividend yield (TTM)0.5% · Bottom 25%
Balance sheet
Debt / equity0.25× · Above median
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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Is Hester Biosciences Limited (HESTERBIO) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹2,009 versus a price of ₹2,127, about −6% upside (fairly valued).
What is the fair value of HESTERBIO?
Our model-based fair value for Hester Biosciences Limited is ₹2,009 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹2,127.
What is the quality score of HESTERBIO?
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 (HESTERBIO)?
Our model-based price target is the fair value of ₹2,009 (as of Oct 2, 2026) from 26 valuation models. Cautious scenario ₹1,062, optimistic scenario ₹2,935. 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 ₹2,009, about −6% upside versus a price of ₹2,127 (fairly valued). Cautious scenario ₹1,062, optimistic scenario ₹2,935. The calculation is refreshed regularly with new filings.
What is the revenue of Hester Biosciences Limited (HESTERBIO)?
Hester Biosciences Limited reported trailing-twelve-month revenue of about ₹3.3B (latest available figure, as of Oct 2, 2026).
Does Hester Biosciences Limited pay a dividend?
Hester Biosciences Limited currently shows a dividend yield of about 0.52% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Hester Biosciences Limited (HESTERBIO)?
For today's price to be fair in a discounted-cash-flow model, Hester Biosciences Limited would have to grow free cash flow by +36.3 % per year for five years (discount rate 13.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.2 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of HESTERBIO use?
Our models discount Hester Biosciences Limited at 13.9 %: a base by market capitalisation (micro), damped by beta 0.41, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Hester Biosciences Limited that is +36.3 % per year a year over ten years, using the same discount rate (13.9 %) and the same formula as our fair value.
How much growth has Hester Biosciences Limited (HESTERBIO) delivered so far?
Over the past 5 years revenue at Hester Biosciences Limited grew +9.2 % a year. The price currently implies +36.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Hester Biosciences Limited (HESTERBIO) growing?
The median revenue growth in the sector is +5.1 % a year. That is the yardstick for the growth priced into Hester Biosciences Limited (+36.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hester Biosciences Limited (HESTERBIO)?
The free-cash-flow yield on the price is 2.38 %: that much free cash flow Hester Biosciences Limited produces per unit of market value. When it exceeds the discount rate of our models (13.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hester Biosciences Limited (HESTERBIO)?
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 ₹2,009 per share (as of Oct 2, 2026), against a price of ₹2,127. 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 Oct 2, 2026, HESTERBIO trades above its calculated fair value: price ₹2,127, fair value ₹2,009, a gap of about −6% (fairly valued). 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 HESTERBIO?
No. The price is what the market pays today (₹2,127); the fair value is what the company's own numbers justify (₹2,009). For Hester Biosciences Limited the two are ₹118.24 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 ₹21.1B (market capitalisation, as of Oct 2, 2026). Per share that is ₹2,127; our models calculate a fair value of ₹2,009 per share.
What do the bullish and bearish scenarios say about HESTERBIO?
Our models span a range for Hester Biosciences Limited: cautious scenario ₹1,062, base ₹2,009, optimistic ₹2,935 per share (as of Oct 2, 2026, price ₹2,127). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HESTERBIO?
Hester Biosciences Limited trades at a price-to-earnings ratio of 13.4 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹2,009 is built from several models across several years. Other multiples: P/B 5.9, P/S 6.4, EV/EBITDA 27.7.
How solid is the balance sheet of Hester Biosciences Limited (HESTERBIO)?
Balance-sheet figures for Hester Biosciences Limited (as of Oct 2, 2026): return on equity 16.6%, debt of 0.25 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is HESTERBIO from its 52-week high?
Hester Biosciences Limited trades at ₹2,127, about 16% below its 52-week high of ₹2,534 and 70% above the low of ₹1,254 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2,009 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 Oct 2, 2026: price ₹2,127, calculated fair value ₹2,009 (−6%), 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 HESTERBIO 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 ₹2,009, 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 (HESTERBIO)?
The closing price on Oct 1, 2026 was ₹2,127. Our model-based fair value is ₹2,009, about −6% upside (fairly valued). 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 model range is unusually wide (₹1,062 to ₹2,935). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Where does the earnings growth of Hester Biosciences Limited (HESTERBIO) come from?
Earnings per share at Hester Biosciences Limited grew +7.5 % a year from 2015 to 2026. Broken into its drivers: revenue per share +13.4 %, EBIT margin −4.1 %, tax rate −0.4 %, residual (interest, one-offs) −0.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Hester Biosciences Limited
How large is the market capitalisation of Hester Biosciences Limited (HESTERBIO)?
The market capitalisation of Hester Biosciences Limited is ₹21.1B (≈ $219M). 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 Hester Biosciences Limited (HESTERBIO)?
The price-to-sales ratio of Hester Biosciences Limited is 2.24 (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 (HESTERBIO)?
Earnings per share at Hester Biosciences Limited are ₹158.83 (price ÷ EPS = P/E 13.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hester Biosciences Limited (HESTERBIO)?
The dividend yield of Hester Biosciences Limited is 0.5% (payout 6.9%). 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 (HESTERBIO)?
The net margin of Hester Biosciences Limited is 16.7% (fiscal year 2026). 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 (HESTERBIO)?
The return on equity (ROE) of Hester Biosciences Limited is 16.6% (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 Hester Biosciences Limited (HESTERBIO)?
On an EBIT basis the return on assets of Hester Biosciences Limited is 10.1% (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 (HESTERBIO)?
The operating margin of Hester Biosciences Limited is 20.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hester Biosciences Limited (HESTERBIO)?
Revenue at Hester Biosciences Limited is growing −8.2% versus a year earlier (3y avg +7.7%). 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 (HESTERBIO)?
Earnings per share at Hester Biosciences Limited are growing +459% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hester Biosciences Limited (HESTERBIO) carry?
The net debt of Hester Biosciences Limited is ₹1.9B (fiscal year 2026, ≈ 4.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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