Harrisons Malayalam Ltd (HARRMALAYA) AI Stock Analysis

0 Followers

Harrisons Malayalam Ltd

(NSE:HARRMALAYA)

Select Model

Rating:53Neutral

Price Target:INR 173.00▼(-0.57% Downside)

Action:reiterated

Date:10/14/26

The score is held back primarily by weak technicals (below major moving averages and negative MACD). Financial performance is stable but not strong due to margin compression and volatile free cash flow, while valuation is a modest positive given the relatively low P/E.

Positive Factors

Revenue growth and restored profitabilityRenewed profitability alongside revenue growth indicates that the plantation and processing operations retain earning power after the 2024 loss. If this recovery persists, the company can improve financial resilience and support reinvestment across its tea and rubber estates over the next several quarters.

Negative Factors

Margin compression and thin operating profitabilityFalling profitability and modest EBIT relative to sales indicate that recent revenue growth is not translating fully into operating earnings. Persistent margin pressure could limit the company’s ability to absorb higher plantation costs, commodity volatility, or weaker selling prices.

Harrisons Malayalam Ltd (HARRMALAYA) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 2.88B
Dividend Yield: ―
Average Volume (3M): 633
Price to Earnings (P/E): 11.7
Beta (1Y): 0.80
Revenue Growth: 7.29%
EPS Growth: -18.38%
Country: India
Employees: 6,731
Sector: General
Sector Strength: 55
Industry: Agricultural Farm Products

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, Rubber...

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 ba...

Harrisons Malayalam Ltd Financial Statement Overview

Summary

Financials are mixed: revenue has grown modestly, the company returned to profitability after a 2024 loss, and leverage appears manageable. However, margins have compressed versus earlier years and free cash flow has been uneven, which reduces confidence in the durability of the recovery.

Income Statement

56Neutral

Balance Sheet

62Positive

Cash Flow

52Neutral

Financial statement breakdown
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	466.02M	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	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	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

Technical Analysis SentimentNegative

Last Price174.00

Price Trends

50DMA174.05Negative

100DMA191.64Negative

200DMA191.64Negative

Market Momentum

MACD-0.80Negative

RSI56.58Neutral

STOCH82.73Negative

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 174.00 is above the 20-day moving average (MA) of 165.69, below the 50-day MA of 174.05, and below the 200-day MA of 191.64, indicating a neutral trend. The MACD of -0.80 indicates Negative momentum. The RSI at 56.58 is Neutral, neither overbought nor oversold. The STOCH value of 82.73 is Negative, 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:HARRMALAYA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:GROBTEA	65Neutral	INR 1.06B	13.87	―	0.22%	6.21%	21.92%
IN:UNITEDTEA	63Neutral	INR 2.15B	11.04	―	0.74%	-2.90%	-11.07%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:HARRMALAYA	53Neutral	INR 3.21B	11.73	―	―	7.29%	-18.38%
IN:JAYSREETEA	43Neutral	INR 2.45B	-11.04	―	0.59%	11.55%	-141.17%
IN:NORBTEAEXP	40Underperform	INR 979.28M	260.52	―	―	26.04%	―
IN:PKTEA	34Underperform	INR 2.56B	-95.61	―	0.09%	21.09%	37.14%

* General Sector Average

Performance Comparison

IN:HARRMALAYA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:HARRMALAYA	Harrisons Malayalam Ltd	174.00	-10.00	-5.43%
IN:GROBTEA	Grob Tea Co. Ltd.	914.75	-154.52	-14.45%
IN:JAYSREETEA	Jay Shree Tea & Industries Ltd.	84.83	-12.60	-12.93%
IN:NORBTEAEXP	Norben Tea & Exports Ltd.	63.00	0.12	0.19%
IN:PKTEA	Peria Karamalai Tea & Produce Co. Ltd.	827.00	132.52	19.08%
IN:UNITEDTEA	United Nilgiri Tea Estates Co. Ltd.	430.40	-8.66	-1.97%

Harrisons Malayalam Ltd Corporate Events

Harrisons Malayalam Corrects Director Classification in Revised AGM Filing

Sep 29, 2026

Harrisons Malayalam Ltd convened its 49th Annual General Meeting on September 29, 2026 via video conferencing and other audio-visual means, in line with regulatory circulars from the Ministry of Corporate Affairs and SEBI. The meeting was chaired by...

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 applie...

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.

Date of analysis: Oct 14, 2026

Harrisons Malayalam Ltd AI Stock Analysis