- The dispute between Baba Kalyani and his sister Sugandha Hiremath escalates with a fresh court suit involving division of family assets, including Hikal Limited.
- Hikal Limited, a listed entity, operates in diversified sectors including pharmaceuticals, crop protection, and animal healthcare, with a notable revenue of Rs 2,028 crore in FY23.
- Despite the ongoing dispute, Hikal’s operational performance remains stable, with recent debt-funded capital expenditure for expansion projects aimed at strengthening its financial position and enhancing coverage metrics.
The feud between Baba Kalyani, Chairman of Bharat Forge, and his sister Sugandha Hiremath intensifies as their family embarks on legal proceedings seeking division of assets, including shares in Hikal Limited. This dispute has implications for Hikal, a diversified company operating in pharmaceuticals, crop protection, and animal healthcare. Despite the discord within the family, Hikal’s financial performance has remained resilient, boasting a substantial revenue of Rs 2,028 crore in FY23.
Amidst the ongoing legal battle, Hikal Limited continues its operations undeterred, focusing on strategic initiatives to bolster its market presence and financial strength. Recent debt-funded capital expenditure has facilitated expansion projects, including multipurpose crop protection and animal healthcare facilities, aimed at enhancing revenue streams and coverage metrics. While the company’s stock performance has been relatively subdued, Hikal remains steadfast in its commitment to driving sustainable growth and delivering value to stakeholders amidst challenging circumstances.
