Hester Biosciences recommends a final dividend of INR 7 per share

The company declared its consolidated financial report, registering a 44 per cent hike in profit margins for FY19

Hester Biosciences recently released its financial results for Q1FY19 and FY 19. The company has declared a 37 per cent surge in profit for Q4FY19, and 44 per cent profit hike for FY19. It has also registered a 30 per cent and 27 per cent growth in its sales for Q4FY19 and FY19, respectively.

“We have made progress in our objective to systematically reduce the dependency on one division. Exports were a challenge in FY19. We are working upon the same and hope to have a huge upswing in this financial year. Nonetheless, to meet over-all sales targets, we covered up the deficit through domestic sales,” the company stated in a press release.

“The board of directors had declared and paid an interim dividend of INR 2 per equity share (20 per cent) in Q1FY19 as well as on Q2FY19, totaling to INR 4 per equity share (40 per cent). The board has further recommended an additional final dividend of INR 7 per equity share (70 per cent) for FY19, subject to the approval of the shareholders. Total Dividend therefore for FY19 would be INR 11 per equity share (110 per cent) as against the INR 10 per equity share (100 per cent) for FY18,” the press release further added.