Hikal enters into a deal with German co
Hikal has entered into a long term manufacturing agreement with Bayer CropScience AG, Germany, for manufacture and supply of active ingredients for crop protection products.
By INDIATIMES NEWS NETWORK |
MUMBAI: Hikal has entered into a long term manufacturing agreement with Bayer CropScience AG, Germany, for manufacture and supply of active ingredients for crop protection products. Bayer CropScience AG is a subsidiary of Bayer AG, Germany which is one of the world's leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and plant biotechnology.
Hikal has set up a new state-of-the-art multi purpose plant at Taloja, Maharashtra to manufacture these products. Signing of this agreement will have substantial impact on the crop protection business of the company in coming years.
Net profit was Rs 14.8 crore compared to Rs 9 crore previous year, a growth of 64 per cent.
The board declared an interim dividend of 30 per cent. Consolidated nine months performance of the pharmaceutical business recorded net sales to Rs 107.8 crore against Rs 62.2 crore in the previous year and the crop protection business was at Rs 112.2 crore from Rs 105.3 crore in the previous year. On Tuesday, Hikal shares closed down 2.98 per cent at Rs 372.80 on BSE.
Hikal has set up a new state-of-the-art multi purpose plant at Taloja, Maharashtra to manufacture these products. Signing of this agreement will have substantial impact on the crop protection business of the company in coming years.
Net profit was Rs 14.8 crore compared to Rs 9 crore previous year, a growth of 64 per cent.
The board declared an interim dividend of 30 per cent. Consolidated nine months performance of the pharmaceutical business recorded net sales to Rs 107.8 crore against Rs 62.2 crore in the previous year and the crop protection business was at Rs 112.2 crore from Rs 105.3 crore in the previous year. On Tuesday, Hikal shares closed down 2.98 per cent at Rs 372.80 on BSE.
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