1. At a Glance
A niche animal health company with a global vaccine footprint, Hester Biosciences claims dominance in PPR and Goat Pox vaccines. But with PE near 60, flat profit growth, and some working capital acrobatics, the real question is: Can this cow-cure king milk growth again?
2. Introduction with Hook
If big pharma is the corporate jungle, Hester is that veterinarian who walked in with a needle, jabbed a goat, and walked out with 75% global market share in PPR vaccines.
- Global PPR vaccine share: 75%
- Indian Goat Pox market share: 70%
- FY25 net profit: ₹29 Cr vs FY22’s ₹39 Cr
In short: They own the goat, but can they scale the herd?
3. Business Model (WTF Do They Even Do?)
Hester Biosciences is one of India’s few pure-play animal healthcare companies operating in 4 verticals:
- Poultry Vaccines (2nd largest in India)
- Poultry Health Products
- Animal Vaccines (Goat Pox, PPR = Dominator)
- Animal Health Products
Also offers:
- Mastitis control programs for cattle
- Diagnostic lab support for poultry farms
- Seroprofiling
