Highnoon Laboratories Limited (HINOON) financial ratios

Highnoon Laboratories Limited earned a net margin of 14.9% in FY2025 against a five-year average of 14.2% (Pharmaceuticals median 9.4%). Return on equity was 32.3%, compared with a sector median of 21.7%. The current ratio stood at 3.03× and debt was 5.8% of equity. Cash took about 115 days to cycle through receivables, inventory and payables.

FY2025 vs the Pharmaceuticals median

Gross margin: 54.9%; Sector median 37.0%
Operating margin: 22.8%; Sector median 17.3%
Net margin: 14.9%; Sector median 9.4%
Return on equity (ROE): 32.3%; Sector median 21.7%
Return on assets (ROA): 22.5%; Sector median 11.7%
Current ratio: 3.03×; Sector median 1.79×
Debt to equity: 5.8%; Sector median 5.8%
Asset turnover: 1.51×; Sector median 1.26×
Dividend payout ratio: 51.3%; Sector median 32.8%

Median of the 14 companies in the sector with the figure for their latest fiscal year.

HINOON financial ratios (annual) (Rs mn)
Rs mn	FY2025 * Jan – Dec 2025	FY2024 * Jan – Dec 2024	FY2023 Jan – Dec 2023	FY2022 * Jan – Dec 2022	FY2021 Jan – Dec 2021	FY2020 * Jan – Dec 2020	FY2019 Jan – Dec 2019	FY2018 Jan – Dec 2018	FY2017 Jan – Dec 2017	FY2016 * Jan – Dec 2016	FY2015 Jan – Dec 2015	FY2014 Jan – Dec 2014	FY2013 Jan – Dec 2013	FY2012 * Jan – Dec 2012	FY2011 * Jan – Dec 2011	FY2010 * Jan – Dec 2010	FY2009 * Jan – Dec 2009	FY2008 Jan – Dec 2008	FY2007 Jan – Dec 2007	FY2006 Jan – Dec 2006
Profitability
Gross margin	54.9%	50.8%	47.5%	51.8%	50.2%	49.0%	46.8%	47.2%	47.8%	46.9%	47.5%	44.8%	40.9%	41.6%	31.0%	34.3%	36.5%	36.1%	45.2%	41.5%
EBITDA margin	24.4%	21.7%	18.4%	21.7%	19.3%	19.6%	16.2%	15.8%	16.5%	17.1%	17.5%	14.2%	12.0%	12.1%	10.9%	10.1%	12.7%	11.5%	10.7%	12.3%
Operating margin	22.8%	20.3%	17.1%	20.3%	17.8%	18.1%	14.6%	14.0%	14.8%	15.1%	15.3%	11.5%	8.8%	8.8%	8.1%	7.2%	9.7%	8.4%	7.4%	8.4%
Pre-tax margin	23.8%	20.3%	17.0%	21.8%	18.7%	18.7%	15.1%	14.2%	15.0%	15.4%	15.1%	11.2%	7.7%	6.5%	4.9%	4.0%	6.1%	4.6%	4.9%	6.2%
Net margin	14.9%	13.8%	12.4%	15.6%	14.3%	13.8%	11.1%	9.8%	10.2%	10.4%	10.0%	7.4%	5.2%	4.2%	3.1%	3.1%	4.6%	4.0%	3.4%	4.3%
Effective tax rate	37.4%	32.4%	27.1%	28.2%	23.8%	26.3%	26.9%	31.3%	31.9%	32.7%	33.6%	34.4%	33.0%	34.6%	35.9%	21.5%	24.4%	14.4%	30.8%	31.9%
Returns
Return on equity (ROE)	32.3%	31.0%	27.7%	36.4%	35.3%	36.7%	31.8%	28.0%	29.1%	32.4%	34.3%	26.2%	17.3%	12.9%	12.5%	11.9%	17.3%	14.3%	12.6%	14.9%
Return on assets (ROA)	22.5%	21.2%	19.0%	25.6%	24.7%	25.9%	23.3%	20.0%	19.1%	20.1%	20.8%	15.4%	9.5%	6.4%	5.6%	4.8%	7.0%	6.1%	5.3%	6.1%
Return on invested capital (ROIC)	30.3%	29.7%	25.7%	34.1%	32.9%	34.2%	30.9%	26.7%	27.3%	30.8%	33.2%	24.8%	15.1%	11.9%	11.3%	11.3%	18.5%	19.6%	13.8%	11.5%
Liquidity
Current ratio	3.03×	3.02×	3.43×	3.28×	3.59×	4.05×	4.32×	5.14×	3.80×	2.90×	2.70×	2.25×	2.45×	1.76×	1.64×	1.41×	1.26×	1.22×	1.20×	1.20×
Quick ratio	1.86×	1.94×	1.82×	1.72×	2.23×	2.20×	1.90×	2.38×	1.85×	1.41×	1.06×	0.97×	0.60×	0.43×	0.48×	0.40×	0.35×	0.36×	0.26×	0.36×
Leverage
Debt to equity	5.8%	11.6%	14.3%	10.3%	6.3%	11.8%	4.4%	5.7%	6.6%	7.7%	2.5%	5.6%	10.9%	36.9%	41.3%	86.9%	97.1%	86.5%	76.5%	78.2%
Debt to capital	5.5%	10.4%	12.5%	9.3%	6.0%	10.5%	4.2%	5.3%	6.2%	7.2%	2.4%	5.3%	9.8%	27.0%	29.2%	46.5%	49.3%	46.4%	43.4%	43.9%
Debt to assets	4.1%	7.9%	9.8%	7.2%	4.5%	8.1%	3.2%	4.2%	4.6%	4.8%	1.6%	3.3%	6.5%	18.7%	20.3%	35.6%	38.0%	36.6%	32.6%	32.7%
Assets to equity	1.44×	1.46×	1.45×	1.43×	1.43×	1.41×	1.36×	1.40×	1.52×	1.60×	1.64×	1.70×	1.82×	2.00×	2.23×	2.50×	2.46×	2.35×	2.37×	2.46×
Efficiency
Asset turnover	1.51×	1.54×	1.54×	1.64×	1.73×	1.88×	2.11×	2.05×	1.87×	1.94×	2.08×	2.10×	1.84×	1.52×	1.78×	1.51×	1.51×	1.54×	1.57×	1.42×
Receivable days days	50	40	41	30	16	13	14	14	11	6	7	9	11	16	11	10	15	15	15	23
Inventory days days	153	146	158	155	131	135	122	115	124	126	118	107	120	143	104	142	144	137	157	139
Payable days days	87	76	66	65	48	40	30	16	23	42	65	47	20	35	22	10	11	18	23	19
Cash conversion cycle days	115	110	133	119	99	108	105	113	113	90	60	69	111	124	93	141	147	134	149	144
Dividends
Dividend payout ratio	51.3%	46.9%	64.9%	0.0%	0.0%	0.0%	37.2%	39.1%	41.9%	0.0%	30.0%	30.1%	40.9%	52.4%	59.1%	49.9%	35.9%	28.1%	56.0%	25.0%
Earnings retention rate	0.49×	0.53×	0.35×	1.00×	1.00×	1.00×	0.63×	0.61×	0.58×	1.00×	0.70×	0.70×	0.59×	0.48×	0.41×	0.50×	0.64×	0.72×	0.44×	0.75×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

HINOON: frequently asked questions

What is HINOON's EPS?

Highnoon Laboratories Limited reported basic earnings per share of Rs 77.92 for FY2025 (Jan – Dec 2025). Over the trailing twelve months (TTM to Jun 2026) EPS was Rs 74.77.

What is HINOON's P/E ratio?

At the closing price of Rs 931.97 on 16 Oct 2026, HINOON trades at a P/E of 12.5× based on EPS of Rs 74.77 (TTM to Jun 2026).

Does HINOON pay dividends?

Yes. Highnoon Laboratories Limited declared a dividend of Rs 50.00 per share for FY2025. It has paid a dividend in each of the last 20 years. At Rs 931.97 that is a dividend yield of 5.4%.

What was HINOON's revenue and profit in FY2025?

Highnoon Laboratories Limited reported revenue of Rs 27.7 bn and profit attributable to shareholders of Rs 4.1 bn for FY2025 (Jan – Dec 2025).

What is HINOON's book value per share?

Highnoon Laboratories Limited's book value per share was Rs 259.57 at the end of FY2025. The shares trade at 3.83× book value.

Information only, not investment advice.