Hester Biosciences Limited , a prominent player in the animal healthcare sector, has announced a significant change in its top management. The company's Chief Financial Officer (CFO), Divyesh Maru, has submitted his resignation, set to take effect on November 13, 2025.

Key Details of the Resignation

Transition Period and Company Response

The early announcement of Maru's departure, nearly two years in advance, provides Hester Biosciences with ample time to ensure a smooth transition of financial leadership responsibilities. This extended notice period is likely to facilitate a comprehensive handover process and allow the company to conduct a thorough search for a suitable replacement.

In its official communication to the stock exchanges, Hester Biosciences expressed gratitude for Maru's contributions during his tenure as CFO. The company has not yet announced any plans regarding Maru's successor.

Regulatory Compliance

The resignation was disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Hester Biosciences has duly informed both the BSE Limited and the National Stock Exchange of India Limited about this development.

Impact on Hester Biosciences

While leadership changes can often lead to short-term uncertainties, the extended transition period in this case may help mitigate potential disruptions to the company's financial operations. Investors and stakeholders will likely be watching closely for announcements regarding Maru's successor and any potential shifts in financial strategy.

As Hester Biosciences navigates this transition, the company's ability to maintain financial stability and continue its growth trajectory will be of key interest to market observers and shareholders alike.

Hester Biosciences Limited , a leading animal health company in India, has announced its financial results for the second quarter and first half of fiscal year 2026, revealing a mixed performance across its business segments.

Consolidated Performance Highlights

For Q2 FY26, Hester Biosciences reported:

• Consolidated revenue from operations declined 15% year-over-year to INR 709.69 million
• Profit after tax (PAT) surged 71% to INR 143.31 million
• EBITDA increased 7% to INR 235.97 million, with EBITDA margin expanding to 33% from 26% in Q2 FY25

For H1 FY26, the company achieved:

• Consolidated revenue from operations decreased 7% year-over-year to INR 1,550.74 million
• PAT nearly doubled, growing 99% to INR 316.27 million
• EBITDA rose 19% to INR 497.76 million, with margin improvement to 32% from 25% in H1 FY25

Segment Performance

Poultry Healthcare Division

• Q2 FY26 revenue grew 18% to INR 480.16 million
• H1 FY26 revenue increased 10% to INR 896.68 million
• Growth driven by volume gains and sustained demand for core vaccines

Animal Healthcare Division

• Q2 FY26 revenue declined 50% to INR 164.90 million
• H1 FY26 revenue fell 41% to INR 383.12 million
• Decline attributed to delays in government-led immunisation programs for PPR and Lumpy Skin Disease

Operational Highlights

• Received market authorization for the H9N2 vaccine, strengthening the poultry vaccine portfolio
• Maintained stable gross profit margins at approximately 68% on a standalone basis
• Implemented cost optimization measures and operational discipline to mitigate impact of lower sales volumes

Subsidiary Performance

Hester Nepal

• Q2 FY26: Net loss of INR 10.99 million on revenue of INR 5.49 million
• H1 FY26: Net profit of INR 8.20 million on revenue of INR 56.28 million
• Performance impacted by timing of institutional orders and temporary disruptions in Nepal

Hester Africa

• Q2 FY26: Net profit of INR 48.20 million on revenue of INR 59.89 million
• H1 FY26: Net profit of INR 103.22 million on revenue of INR 232.16 million
• Profit growth supported by improved operational discipline and favorable foreign exchange movements

Management Commentary and Outlook

Rajiv Gandhi, CEO & Managing Director, commented on the results: "While our consolidated revenues faced headwinds due to delays in government immunization programs, our focus on operational efficiency and cost management has yielded significant bottom-line growth. The Poultry Healthcare Division continues to perform well, and we are optimistic about the growth potential of our newly authorized H9N2 vaccine."

The company outlined several strategic initiatives:

1. Reducing dependence on tender-based revenues to build a more balanced and resilient portfolio
2. Deepening presence across commercial, private, and export markets
3. Leveraging the H9N2 vaccine authorization to explore new export opportunities
4. Driving innovation, margin stability, and sustainable growth through product diversification and geographic expansion

Market Position

Hester Biosciences maintains strong market positions:

• World's largest manufacturer and supplier of PPR vaccine with approximately 75% global market share
• Over 70% market share in Goat Pox vaccine in India
• Second-largest poultry vaccine manufacturer in India with approximately 35% market share

The company expects to regain momentum in the Animal Healthcare Division as government immunization programs resume, particularly in Q4 FY26.

Conclusion

Despite facing challenges in the Animal Healthcare segment, Hester Biosciences has demonstrated resilience through its diversified portfolio and operational efficiency. The significant improvement in profitability, coupled with strategic initiatives and market authorizations, positions the company for potential growth in the coming quarters. Investors and stakeholders will be closely watching how the company navigates the evolving market dynamics and executes its growth strategies.