HARRMALAYAIndustrials

Harrisons Malayalam Limited

Rubber · ISIN INE544A01019 · BSE 500467 · NSE EQ · FV ₹10
Last price
₹181
+1.12%today
What this company does

Harrisons Malayalam Limited operates in Rubber, part of the Industrials sector. It booked ₹125 cr of revenue in its latest quarter (Q1 FY27) and kept 3.1% of sales as profit. It is the 6th largest of 7 Rubber companies we track, by market value.

In the report:
54out of 100
Equitytale Health Score
Mixed

Healthier than 54% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 51–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
32

At close. Not part of the score.

Profitability & returns39

How much profit it earns on the money it employs

Balance sheet25

How much it owes, and whether earnings cover the interest

Cash quality75

Whether reported profit actually arrives as cash

Growth & consistency58

Whether sales and profit have grown, and how steadily

Valuation66

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 7% vs last year
Promoters hold 54%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 3.1% net margin
! Profit down 34% vs last year

What if I invest in HARRMALAYA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹181 +1.12%
latest close · 2026-09-17
1-year return
-9.7%
52-wk low ₹12952-wk high ₹228
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio21.2Average
LowAverageHigh
P/B ratio1.87Moderate
Below bookModerateHigh
EV / EBITDA12.3Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.8%Fair
WeakFairStrong ▸15%
Return on capital10.1%Fair
WeakFairStrong
Net margin3.1%Thin
ThinDecentStrong
EBITDA margin7.1%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.60Moderate
LowModerateHigh ▸1
Interest cover2.2×Okay
RiskyOkayStrong ▸5×
Current ratio0.45Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹333 cr
Book value
₹97
EPS
₹2.13
latest quarter
Net debt
₹105 cr
owes more than its cash
Enterprise value
₹438 cr
EBITDA
₹35 cr
annualised
EBIT
₹29 cr
annualised
Operating margin
5.8%
Return on assets
3.1%
Earnings yield
4.71%
P/S
0.67
Sales / share
₹270.8
Tax rate
0.0%
Face value
₹10
Shares
1.8 cr
Working capital
₹-116 cr
Current assets
₹97 cr
Current liabilities
₹213 cr
Delivery %
63.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 3 models ₹143 vs market price ₹181 — price is 26% above it
Safety cushion-26.0%(target ≥ +20%)
Models span ₹69₹145, midpoint ₹143
Model ₹143
Price ₹181
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹125 cr
Other Income₹3 cr
Total Income₹128 cr
Cost of Materials₹25 cr
Purchases of Stock-in-Trade₹22 cr
Inventory Change (±)₹-10 cr
Employee Benefit Expense₹47 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹2 cr
Other Expenses₹36 cr
Total Expenses₹124 cr
Profit before Tax₹4 cr
Tax Expense₹0 cr
Net Profit₹4 cr
Net margin on total income3.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹37 cr28.5%
Employee benefit expense₹47 cr36.6%
Finance costs₹3 cr2.6%
Depreciation & amortisation₹2 cr1.3%
Other expenses₹36 cr28.0%
Profit for the period₹4 cr3.1%
Total income ₹128 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue141 cr147 cr125 cr
Total income145 cr153 cr128 cr
Expenses137 cr144 cr124 cr
Profit before tax8 cr9 cr4 cr
Tax0 cr0 cr0 cr
Net profit (owners' share)8 cr9 cr4 cr
Net margin (owners' share, on revenue)5.4%6.2%3.1%
EPS (₹)4.144.942.13
YoY (latest quarter): total income +7.4% · net profit -34.0%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹502 cr
Shareholder equity
₹179 cr
parent shareholders
Total debt
₹108 cr
Cash
₹3 cr
Cash flow · H1 FY26
Operating
₹5 cr
Investing
₹-10 cr
Financing
₹5 cr
Peer comparison
Rubber · by market value
CompanyPriceMarket capP/E
Apcotex Industries Limited₹599₹3,108 cr9.8
Pix Transmissions Limited₹1,725₹2,350 cr11.1
Tinna Rubber and Infrastructure Limited₹1,001₹1,803 cr21.9
GRP Limited₹1,972₹1,052 cr62.6
Rubfila International Limited₹66₹357 cr15.4
Harrisons Malayalam Limitedthis company₹181₹333 cr21.2
Sampann Utpadan India Limited₹24₹118 cr14.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
trailing 12 months
Dividend / share (TTM)
Last dividend
₹1
ex 21 Aug 2014
ActionDetailEx-date
Dividend₹1 / share21 Aug 2014
Dividend₹0.75 / share12 Sep 2013
Dividend₹1.5 / share13 Sep 2012
Who owns it · 2026-06-30
No pledge
Promoter
54.1%
FII / Foreign
0.0%
DII / Domestic
0.1%
Retail / others
45.8%
Smart-money activity
Insider trades
SoldHarsh Vardhan Goenka, Karta, Harsh Anant Goenka HUF · Promoter Group45,000 · ₹63.9 L22 Mar 21
BoughtHarsh Vardhan Goenka · Promoters45,000 · ₹63.9 L22 Mar 21
BoughtTRADE APARTMENTS LTD · Promoter Group53,179 · ₹37.9 L18 Jun 20
Bulk / block deals
SoldWALLFORT FINANCIAL SERVICES LTD · NSE1.00 L @ ₹243.4929 Jul 24
BoughtGRAVITON RESEARCH CAPITAL LLP · NSE1.00 L @ ₹238.639 Jul 24
SoldGRAVITON RESEARCH CAPITAL LLP · NSE1.00 L @ ₹238.929 Jul 24
Stake changes
BoughtVayu Udaan Aircraft LLP alongwith PAC · promoter→ 52.58% · 4.21 L28 Feb 20
SoldSummit Securities Limited alongwith PAC · promoter→ 0.01% · 7.28 L12 Oct 18
BoughtVayu Udaan Aircraft LLP alongwith PAC · promoter→ 18.68% · 7.28 L12 Oct 18
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 23 Sep 2025
See the official result
1
Adoption of the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025 along with the Audited Consolidated Financial Statements for the financial year ended March 31, 2025 together with the Reports of the Board of Directors and the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
28,411 votes for, 48 against
2
Re-appointment of Mr Kaushik Roy (DIN 06513489) as a Director on retirement by rotation.
Backed by 91% of shareholders other than promotersneeded 50%
25,769 votes for, 2,690 against
3
Approval of the re-appointment of Ms. Rusha Mitra (DIN: 08402204) as an Independent Director of the Company for a second term of five consecutive years with effect from February 11, 2026.
Backed by 100% of shareholders other than promotersneeded 75%
28,392 votes for, 67 against
4
Approval of the appointment of M/s. SEP and Associates, Practicing Company Secretaries, Kochi as Secretarial Auditors of the Company for a period of five consecutive years commencing from the financial year 2025-2026 until the financial year 2029-2030 and the remuneration payable to them.
Backed by 100% of shareholders other than promotersneeded 50%
28,411 votes for, 48 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 34 named members
owning 54.1% between them · as of 2026-06-30
Rainbow Investments Ltd24.96%
Vayu Associates LLP (Formerly Vayu Udaan Aircraft LLP)20.56%
Swallow Associates Llp5.48%
Trade Apartments Limited1.14%
Harshvardhan Ramprasad Goenka0.30%
Trivikram Khaitan Trustee of HML Trust No.I0.24%
Trivikram Khaitan Trustee of HML Trust No.II0.24%
Trivikram Khaitan Trustee of HML Trust No.III0.24%
Business done with them
FY2025 · 1 of the group
The company paid ₹0 cr to companies in the promoter group last year — about 0.0% of its ₹514 cr revenue and received ₹0.24 L back from them.
SAREGAMA INDIA LIMITED
Other income from them · Rental charges Income
₹0.24 L
company received

The company also transacted with 16 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.