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Harrisons Malayalam Ltd
(HARRMALAYA)
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Rating:63Neutral
Price Target:
₹193.00
▼(-12.47% Downside)
Action:Reiterated
Date:07/14/26
The score is driven primarily by moderate financial performance (profitability and free-cash-flow volatility are key constraints) and supported by strong technical positioning with price trading above key moving averages and positive momentum indicators. Valuation is fair at a mid-range P/E, but lack of dividend-yield data limits additional valuation support.
Positive Factors
Modest Revenue Growth
Continued revenue growth indicates the plantation and processing operations are maintaining demand and generating incremental scale. Although the pace is modest, a growing revenue base can support operating continuity and provide a foundation for improved earnings if margins stabilize over the next several quarters.
Negative Factors
Thin and Compressed Margins
The decline from earlier peak profitability and modest recent EBIT indicate that revenue growth is not translating into strong operating returns. Persistently thin margins leave less room to absorb cost pressure or weaker commodity realization, making durable earnings improvement dependent on better profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Modest Revenue Growth
Continued revenue growth indicates the plantation and processing operations are maintaining demand and generating incremental scale. Although the pace is modest, a growing revenue base can support operating continuity and provide a foundation for improved earnings if margins stabilize over the next several quarters.
Read all positive factors
Harrisons Malayalam Ltd (HARRMALAYA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.34B
Dividend Yield1.58%
Average Volume (3M)880.00
Price to Earnings (P/E)12.2
Beta (1Y)0.87
Revenue Growth2.78%
EPS Growth2.41%
CountryIN
Employees6,731
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)14.69
Shares Outstanding18,455,404
10 Day Avg. Volume465
30 Day Avg. Volume880
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)1.78
Price to Sales (P/S)0.59
P/FCF Ratio52.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Harrisons Malayalam Ltd Business Overview & Revenue Model
Company Description
Harrisons Malayalam Limited, an Indian enterprise established in 1978 and headquartered in Kochi, is primarily engaged in the cultivation and sale of tea and rubber. Its business activities are structured across three principal divisions: Tea, Rub...
How the Company Makes Money
The company makes money primarily by producing plantation commodities on its estates and selling those commodities to customers. Key revenue streams typically include: (1) Tea: revenue from sale of processed tea produced from tea estates (realized...
Harrisons Malayalam Ltd Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.51B | 5.39B | 5.14B | 4.59B | 4.87B | 4.48B |
| Gross Profit | 3.07B | 1.55B | 3.26B | 2.66B | 2.73B | 2.56B |
| EBITDA | 467.28M | 487.28M | 353.18M | 111.41M | 343.61M | 384.97M |
| Net Income | 271.03M | 291.32M | 148.88M | -73.03M | 177.66M | 230.90M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 5.02B | 4.72B | 4.63B | 4.45B | 4.20B |
| Cash, Cash Equivalents and Short-Term Investments | 42.78M | 42.78M | 49.94M | 21.69M | 20.48M | 39.05M |
| Total Debt | 0.00 | 1.11B | 1.03B | 975.58M | 954.80M | 891.31M |
| Total Liabilities | -1.79B | 3.23B | 3.18B | 3.19B | 2.89B | 2.82B |
| Stockholders Equity | 1.79B | 1.79B | 1.54B | 1.44B | 1.56B | 1.38B |
Cash Flow | ||||||
| Free Cash Flow | -60.03M | 60.77M | 63.10M | 107.59M | 33.82M | 205.20M |
| Operating Cash Flow | 53.79M | 153.43M | 233.55M | 329.81M | 312.62M | 375.35M |
| Investing Cash Flow | -102.01M | -203.03M | -160.67M | -218.33M | -273.70M | -141.20M |
| Financing Cash Flow | 47.26M | 77.07M | -78.38M | -109.63M | -58.08M | -214.55M |
Harrisons Malayalam Ltd Technical Analysis
Negative
220.50
Price Trends
205.76
Negative
207.97
Negative
190.73
Negative
Market Momentum
-6.11
Positive
34.98
Neutral
19.41
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HARRMALAYA, the sentiment is Negative. The current price of 220.5 is above the 20-day moving average (MA) of 192.53, above the 50-day MA of 205.76, and above the 200-day MA of 190.73, indicating a bearish trend. The MACD of -6.11 indicates Positive momentum. The RSI at 34.98 is Neutral, neither overbought nor oversold. The STOCH value of 19.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HARRMALAYA.
Harrisons Malayalam Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹2.13B | 10.62 | ― | 0.74% | -8.95% | -11.01% | |
63 Neutral | ₹3.34B | 12.17 | ― | 1.58% | 2.78% | 2.41% | |
61 Neutral | ₹1.09B | 14.24 | ― | 0.21% | 6.21% | 21.92% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹997.15M | -386.36 | ― | ― | 6.94% | -244.24% | |
53 Neutral | ₹3.17B | -62.80 | ― | 0.10% | 9.32% | -184.16% | |
50 Neutral | ₹2.63B | -11.69 | ― | 0.55% | 6.65% | -130.78% |
* General Sector Average
IN:HARRMALAYA
Harrisons Malayalam Ltd
183.10
-25.10
-12.06%
IN:GROBTEA
Grob Tea Co. Ltd.
938.95
-97.19
-9.38%
IN:JAYSREETEA
Jay Shree Tea & Industries Ltd.
89.34
-8.95
-9.11%
IN:NORBTEAEXP
Norben Tea & Exports Ltd.
61.03
12.58
25.96%
IN:PKTEA
Peria Karamalai Tea & Produce Co. Ltd.
936.95
91.90
10.88%
IN:UNITEDTEA
United Nilgiri Tea Estates Co. Ltd.
431.20
-55.69
-11.44%
Harrisons Malayalam Ltd Corporate Events
Harrisons Malayalam Opens SEBI-Mandated Window for Physical Share Transfers
Aug 20, 2026
Harrisons Malayalam Ltd has notified the stock exchanges that it has published newspaper advertisements in Financial Express and Deshabhimani about a SEBI-mandated special window for re-lodgement and transfer of physical securities. The window app...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.