Ahmedabad

Gujarat headquartered Hester Biosciences today said its net profit is up by 56% in Q4 of FY 2015-16. Company said it has recommended a final dividend of Rs. 1.10 per share. The company also announced that commercial production in its Nepal plant will commence from August this year.

According to company’s statement, Hester has reported a Net Sales of INR 28.18 Cr in Q4FY16 as compared to INR 23.36 Cr for the previous corresponding period, thereby registering a growth of 21%. Net Profit for Q4FY16 is recorded at INR 5.50 Cr as against INR 3.54 Cr for the previous corresponding period, thereby registering a growth of 56%. Earnings Per Share for the Q4FY16 is at INR 6.47 as against INR 4.16 for Q4FY15.

The statement further said, the board of directors had declared and paid and interim dividend of INR 3 per equity share (30%) on 10 March 2016. Further, the board has recommended a final dividend of INR 1.10 per equity share (11%) for the financial year 2015-16, subject to the approval of the shareholders.

The company said it has achieved its primary objective of improving the bottom line in the financial year. The main drivers for the improvement in the bottom line have been better inventory management, stricter credit controls and shift in the product mix. The sales in the poultry division grew at 6.41% while the large Animal divisions have shown a growth of 73.21%. Domestic sales grew by 6% while exports grew by 73.66%

On its Nepal plant the company said, trial production has commended at the Nepal Plant and the commercial production would commence from August 2016.

– DeshGujarat