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Hikal conducted conference call on 08 August 2023 to discuss the financial results and performance of the company for the quarter ended June 2023. Mr. Sameer Hiremath – Managing Director, Mr. Anish Swadi – Senior President, Business Transformation and Animal Health, Mr. Kuldeep Jain – Chief Financial Officer, Mr. Manoj Mehrotra – President, Pharmaceuticals Business and Mr. Vimal Kulshrestha – President, Crop Protection Business of the company addressed the call.
Highlights of the Concall
- The company mentioned that FY24 has started off on a challenging note due to global macroeconomic pressures and high channel inventories, leading to lower demand across both its businesses. The chemical industry is facing difficulties due to China's opening up and depressed market conditions, specifically in the crop protection end use markets.
- Total revenues have grown by 2.4% in Q1FY24 while volumes have dropped by almost 13% for the quarter compared to the l...
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