HIKAL LIMITED

Hikal Limited, incorporated on July 8, 1988, has emerged as one of the preferred partners for global companies in segments such as pharmaceuticals, crop protection, animal health, biocides, and specialty chemicals. The Company is engaged in the manufacturing of various chemical intermediates, specialty chemicals, active pharma ingredients and contract research activities. The Company has 5 manufacturing facilities across three states in India. It supply products to customers across the globe in the US, Japan, Europe, Canada, South East Asia, LATAM, India and RoW. Apart from this, it specialize in manufacturing APIs and intermediates in pharmaceutical division. Within pharmaceutical division, it offer human health and animal health products. Hikal commenced its first project in 1991 at its first greenfield site at M.I.D.C., Mahad with the manufacture of intermediates for agrochemical industry. It also bagged first big contract with Hoechst. During 1996, Company came with public issue to part finance the expansion project of Thiabendazol. It achieved another milestone when Merck & Co., USA chose Hikal as a partner to outsource Thiabendazole (TBZ, a fungicide). Since the capacity at Mahad was inadequate, Hikal built second greenfield site, a state-of-the-art manufacturing facility at Taloja in 1997. The Company has been accorded Export House status by the Government of India. It set up a new manufacturing facility near Mumbai in collaboration with Merck & Co Inc, USA, for the manufacture of a post-harvest fungicide. It received the prestigious '5 star Safety Award' from British Safety Council' UK for high standards maintained at the Taloja Site. During 1999-2000, the company has acquired an Agrochemical manufacturing site at Panoli, Gujarat from Novartis India Limited. The Company's status as an Export House has been elevated to that of a Trading House. In 2001, it entered the pharmaceuticals business, when it acquired the R&D Unit and Bulk Drug Manufacturing Facility of Wintac Ltd at Bangalore in Karnataka. In 2004, it built a brand new API plant post-acquisition and received USFDA certification. The Bangalore API Plant approved by USFDA and Australian TGA. During 2004-05, A 100% EOU plant for pharamaceutical intermediates is being set up. This unit is expected to be operational in the first half of the coming year. During 2004-05, the company is establishing a state-of-the-art R&D facility in Pune and this research facility is expected to be operational in early 2006. In Aug. 2004, the company has entered into an agreement with Bayer CropScience AG to manufacture and supply Agro biochemical intermediates and has set up a plant to manufacture this products in Mahad Plant. In 2005, the company made an agreement with Crompton Corporation, USA to manufacture and market a New Generation Crop protection product. In Nov. 2005, the company entered into a JV agreement with a subsidiary company of Sinochem Corporation, China. During 2005-2006, the company made a strategic investment in Jiangsu Chemstar Industries Co (a subsidiary company of Sinochem Corporation China 'A Fortune 500 company). The company acquired 10% stake in the year. The companies production capacity of Crop protection products and Pharmaceutical products stood at 4436 MTn and 180 MT respectively. The Company commenced export of Gabapentine to the US and Canada markets during FY 2006-07. It acquired Marsing & Co. A/S, Denmark and commenced marketing and distribution of APIs in various countries. The Company increased investment to 16% in Jiangsu Chemstar Industries Co. Ltd., (a subsidiary company of Sinochem Corporation, China 'A FORTUNE 500' company) in FY'2007. During the year, it started supply of new Crop Protection product to one of the leading multinational companies. In Pharma plant, its existing Intermediate products registered increase in volumes and two new Pharma products were manufactured at Panoli site. R&D unit labs got upgraded and two new labs were added during the year 2007-08. In 2008, the Company established Acoris Research Ltd., a contract research facility at the International Biotech Park, Pune, which is fully operational. In 2009, it expanded manufacturing capabilities. Construction of the new multi-purpose active ingredients plant for crop protection at the Taloja site was completed. It commissioned several new multipurpose API plants at the US FDA approved site in Bangalore. It commissioned a new multipurpose pharma intermediates plant at Panoli. Long-term contracts with global life sciences companies had a substantial impact on business. It signed long-term contract for a patented molecule with a leading multinational company. As per the Scheme of Arrangement effective from 1st April 2012, the Research and Development activity of Acoris demerged with Hika. Acoris formerly a subsidiary is now a division of Hikal and further strengthened its capabilities, both in terms of manpower as well as technical capabilities. During the year 2013, it signed a manufacturing agreement with a specialty US based food ingredient company. It completed initial supplies for advanced intermediates to one of the largest U.S. biotech companies. It signed a contract with a leading Japanese company to develop different peptides using their proprietary technology. In December 2016, Company sold its stake in subsidiary, Hikal International B.V. In 2017, it sold the R&D unit in Bangalore. The Company issued Bonus Shares on 26 June 2018 in the ratio of 1:2 i.e. one bonus equity share of Rs. 2/- each fully paid-up for every two existing equity shares of Rs. 2/- each fully paid-up held by the members. In 2023, new product launches in the antidiabetic therapeutic area gained significant traction among global customers. The Company made significant progress on the multi-year Animal Health project with a leading global innovator on developing product portfolio. The new Animal Health Multi-Purpose facility commissioned at Panoli, Gujarat in FY 2024.