Hikal announced that the Board of Directors of the Company at its meeting held on 18 June 2020, has recommended a Final dividend of Rs.0.20 per share (i.e.10%), subject to the approval of the shareholders.

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Net profit of Hikal declined 26.60% to Rs 24.47 crore in the quarter ended March 2020 as against Rs 33.34 crore during the previous quarter ended March 2019. Sales declined 17.16% to Rs 374.10 crore in the quarter ended March 2020 as against Rs 451.58 crore during the previous quarter ended March 2019.

For the full year,net profit declined 18.08% to Rs 84.43 crore in the year ended March 2020 as against Rs 103.06 crore during the previous year ended March 2019. Sales declined 6.74% to Rs 1462.12 crore in the year ended March 2020 as against Rs 1567.74 crore during the previous year ended March 2019.

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Hikal will hold a meeting of the Board of Directors of the Company on 18 June 2020.

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Hikal announced the successful development of Favipiravir Active Pharmaceutical ingredient (API) and its intermediates. Favipiravir is a generic version of Avigan of Fujifilm Toyama Chemical Co., Japan, a subsidiary of Fujifilm Corporation. Favipiravir has demonstratedactivity against influenza viruses and has been approved in Japan for the treatment of novel influenza virus infections. It is in various stages of clinical trials in many countries as an experimental treatment of COVID-19.

The company is in discussion with potential partners to supply the API and its intermediates.

Hikal has developed this API in a record amount of time to make the product available for treatment of COVID-19.

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