External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul><li>Hester is one of India’s leading animal healthcare companies &amp; the second largest poultry vaccine manufacturer in the country</li><li>It has a strategic presence in 30+ countries with key markets being India, Nepal and Tanzania.</li><li>Target Price and Valuation: We value Hester at | 2780 (base business at Rs 2712 i.e. 38x FY24E EPS of Rs 71.4 + NPV of Rs 67.8 for Covaxin DS opportunity).</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Hester is one of India’s leading animal healthcare companies &amp; the second largest poultry vaccine manufacturer in the countryIt has a strategic presence in 30+ countries with key markets being India, Nepal and Tanzania.Target Price and Valuation: We value Hester at | 2780 (base business at Rs 2712 i.e. 38x FY24E EPS of Rs 71.4 + NPV of Rs 67.8 for Covaxin DS opportunity).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hester Biosciences: Muted Q3; Launches in Place for Momentum Pick-Up

<p>Despite exports being impacted by air shipment restrictions due to Covid, Hester ended FY21 on a relatively strong note amid strong demand for poultry vaccines and health products in domestic market. Going ahead, opportunities panning out from animal vaccines such as classical swine fever, lumpy skin disease (only player) and sheep pox (only player) in the domestic space besides increased focus on health products, growth prospects look promising for Hester.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Despite exports being impacted by air shipment restrictions due to Covid, Hester ended FY21 on a relatively strong note amid strong demand for poultry vaccines and health products in domestic market. Going ahead, opportunities panning out from animal vaccines such as classical swine fever, lumpy skin disease (only player) and sheep pox (only player) in the domestic space besides increased focus on health products, growth prospects look promising for Hester.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HESTERBIO: Despite exports being impacted by air shipment restrictions due to Covid, Hester ended...

India

Hester Biosciences Limited manufactures Poultry Vaccines.  The company produces live and inactive veterinary vaccines.

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Hester Biosciences (HBIO IN)

Hester Biosciences: Muted Q3; Launches in Place for Momentum Pick-Up

Revenue segment wise: poultry healthcare:73%, animal healthcare: 19%, others:8%; by geography: domestic:81%, exports:10%, others:9% Q3FY22 Results:...

ICICI Securities Limited

HESTERBIO: Despite exports being impacted by air shipment restrictions due to Covid, Hester ended...

Despite exports being impacted by air shipment restrictions due to Covid, Hester ended FY21 on a relatively strong note amid strong demand for...

ICICI Securities Limited

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