Price
Financials
Standalone, Rs crore| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1.01 | 3.57 | 2.87 | 3.16 | 3.32 | 11.37 | 24.05 | 25.73 | 2.38 | 59.89 | 42.29 | 7.25 |
| Expenses | 1.00 | 3.04 | 2.66 | 2.93 | 3.31 | 10.18 | 19.06 | 20.38 | 2.95 | 51.07 | 47.49 | 12.60 |
| Operating Profit | 0.01 | 0.53 | 0.21 | 0.23 | 0.01 | 1.19 | 4.99 | 5.35 | -0.57 | 8.82 | -5.20 | -5.35 |
| OPM % | 0.99% | 14.85% | 7.32% | 7.28% | 0.30% | 10.47% | 20.75% | 20.79% | -23.95% | 14.73% | -12.30% | -73.79% |
| Other Income | -0.04 | 0.00 | 0.00 | 0.00 | 0.10 | 0.03 | 0.05 | 0.03 | -0.01 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | -0.03 | 0.53 | 0.21 | 0.23 | 0.11 | 1.22 | 5.04 | 5.38 | -0.58 | 8.82 | -5.20 | -5.35 |
| Tax % | -166.67% | 26.42% | 28.57% | 13.04% | 45.45% | 25.41% | 4.76% | -1.86% | 34.48% | 25.85% | -43.85% | 0.00% |
| Net Profit | 0.01 | 0.39 | 0.16 | 0.20 | 0.05 | 0.90 | 4.80 | 5.48 | -0.78 | 6.53 | -2.91 | -5.36 |
| EPS in Rs | 0.01 | 0.26 | 0.01 | 0.01 | 0.00 | 0.05 | 0.05 | 0.06 | -0.01 | 0.07 | -0.03 | -0.06 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 4 | 13 | 64 | 112 |
| Expenses | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 3 | 12 | 53 | 114 |
| Operating Profit | -0 | -0 | 0 | -0 | -0 | -0 | -1 | -0 | 1 | 1 | 11 | -2 |
| OPM % | 28% | -70% | -950% | -106% | 17% | 8% | 17% | -2.1% | ||||
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0 | -0 | 0 | -0 | -0 | -0 | 1 | -0 | 1 | 1 | 11 | -2 |
| Tax % | -61% | -31% | -100% | -31% | -26% | -22% | 29% | 47% | 20% | 26% | 6% | |
| Net Profit | -0 | -0 | 0 | -0 | -0 | -0 | 1 | -0 | 1 | 1 | 10 | -3 |
| EPS in Rs | -0.11 | -0.19 | 0.05 | -0.17 | -0.16 | -0.23 | 0.57 | -0.14 | 0.36 | 0.04 | 0.11 | -0.03 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 337% | 635% | 73% | ||
| Compounded Profit Growth | 51% | 100% | 272% | -122% | ||
| Stock Price CAGR | % | 17% | -3% | -61% | ||
| Return on Equity | % | % | 17% | 16% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.79 | 0.80 | 11 | 71 | 71 |
| Reserves | -1 | -1 | -1 | -2 | -2 | -2 | -1 | -1 | -0 | 1 | 44 | 48 |
| Borrowings | 3 | 3 | 4 | 4 | 4 | 4 | 0 | 1 | 1 | 1 | 1 | 0 |
| Other Liabilities | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 3 | 11 | 3 | 7 |
| Total Liabilities | 4 | 4 | 4 | 4 | 3 | 3 | 0 | 2 | 4 | 23 | 119 | 126 |
| Fixed Assets | 4 | 4 | 3 | 3 | 3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 2 |
| Other Assets | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 2 | 4 | 20 | 116 | 124 |
| Total Assets | 4 | 4 | 4 | 4 | 3 | 3 | 0 | 2 | 4 | 23 | 119 | 126 |
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -1 | -0 | -0 | -0 | 0 | -0 | -0 | -1 | -0 | 0 | -8 | -44 |
| Cash from Investing Activity | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 5 | -0 | 0 | -2 | -0 |
| Cash from Financing Activity | 1 | 0 | 0 | 0 | -0 | -0 | 0 | -4 | 0 | -0 | 10 | 93 |
| Net Cash Flow | -0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 | -0 | 0 | 0 | 50 |
| Free Cash Flow | -1 | -0 | -0 | -0 | 0 | -0 | -0 | -1 | -0 | -0 | -8 | -44 |
| CFO/OP | 335% | 115% | 96% | -188% | -80% | 4% | 76% | 93% | 247% | 26% | -749% | -391% |
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 419 | 0 | 274 | 388 | 367 | 218 | 267 | |||||
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 85 | ||||
| Days Payable | 18 | |||||||||||
| Cash Conversion Cycle | 419 | 0 | 274 | 388 | 367 | 218 | 334 | |||||
| Working Capital Days | -2,010 | -4,059 | -34,949 | 433 | 67 | 260 | 363 | |||||
| ROCE % | -18% | -15% | -15% | 1% | -12% | -12% | -19% | -45% | -34% | 86% | 16% | 17% |
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 70.03% | 5.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| DIIs | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 29.96% | 94.80% | 99.99% | 100.00% | 100.01% | 99.99% | 99.99% | 99.99% | 99.99% | 99.99% | 100.00% | 100.00% |
| No. of Shareholders | 1,928 | 1,956 | 1,957 | 1,959 | 1,958 | 9,646 | 45,893 | 49,412 | 86,971 | 1,05,765 | 1,14,591 | 1,11,235 |
Fundamentals
Market Cap₹ 22.4 Cr.
Current Price₹ 0.24
Book Value₹ 1.27
ROCE17.4 %
ROE16.4 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)73%
Compounded Profit Growth (TTM)-122%
Standalone figures.
Valuation
Market capRs 18 Cr
Enterprise valueRs -31 Cr
Price to book0.15x
Price to sales0.16x
EV / sales-0.28x
Earnings yield-14.17%
P/E, 3-year average9.69x
P/B, 3-year average0.88x
P/E, 5-year average7.27x
P/B, 5-year average0.44x
Profitability
Operating margin (excl. other income)17.25%
Operating margin (incl. other income)17.50%
EBITDA margin-2.06%
Pre-tax margin-2.07%
Net profit margin-2.25%
Net margin, latest quarter-73.93%
ROE16.44%
ROCE17.39%
ROA14.66%
ROE, 3-year average83.45%
ROCE, 3-year average40.02%
ROA, 3-year average12.86%
ROE, 5-year average-28.38%
ROCE, 5-year average34.70%
ROA, 5-year average13.64%
ROIC (approx.)-3.27%
Tax rate6.48%
Other income / net worth0.14%
Growth
Sales growth (latest year)391.34%
Profit growth (latest year)1198.75%
Sales CAGR, 3 years635.00%
Sales CAGR, 5 years336.70%
Sales growth QoQ-82.86%
Sales growth YoY (latest quarter)-71.82%
Profit growth YoY (latest quarter)-197.81%
Per share
EPS (TTM)Rs -0.04
EPS (latest year)Rs 0.15
EPS (latest quarter)Rs -0.08
EPS, 3-year averageRs 2.55
EPS, 5-year averageRs 3.13
Book value per shareRs 1.62
Sales per shareRs 1.57
Cash flow per shareRs -0.61
Free cash flow per shareRs -0.62
Efficiency
Asset turnover0.53x
Fixed asset turnover1058.83x
Inventory turnover4.31x
Inventory days85 days
Debtor days267 days
Debtors turnover1.37x
Creditor days18 days
Cash conversion cycle334 days
Working capital days363 days
Leverage
Total debtRs 1 Cr
Cash and bankRs 50 Cr
Net debtRs -49 Cr
Debt to equity0.00x
Owners' fund to total sources96.81%
Debt to assets0.46%
Cash flow
Cash from Operating Activity (latest year)Rs -44 Cr
Cash from Investing Activity (latest year)Rs -0 Cr
Cash from Financing Activity (latest year)Rs 93 Cr
Net Cash Flow (latest year)Rs 50 Cr
Free cash flow (latest year)Rs -44 Cr
FCFE (approx.: FCF + change in debt)Rs -44 Cr
Cash from ops / profit, 5 years-4.08x
Statement figures
Net sales (TTM)Rs 112 Cr
Net sales (latest year)Rs 64 Cr
Sales (latest quarter)Rs 7 Cr
Operating profit excl. other income (latest year)Rs 11 Cr
Operating profit (latest quarter)Rs -5 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs -2 Cr
PBDT (TTM)Rs -2 Cr
Profit before tax (TTM)Rs -2 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs -3 Cr
Net profit (latest year)Rs 10 Cr
Net profit (latest quarter)Rs -5 Cr
Depreciation (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 51 Cr
Total expenditure (latest year)Rs 53 Cr
Total income (latest year)Rs 64 Cr
Share capitalRs 71 Cr
ReservesRs 44 Cr
Shareholders' fundsRs 115 Cr
Total assetsRs 119 Cr
Net blockRs 0 Cr
InvestmentsRs 2 Cr
ReceivablesRs 46 Cr
InventoryRs 12 Cr
Other liabilitiesRs 3 Cr
Shares outstanding (crore)71.12
Ownership
Promoter holding0.00% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 0.15 is the lowest in 3.8 years (median 25.63).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 505336 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +0.0% | -2.8% | +2.8 pts |
| 1 month | -3.8% | -6.8% | +2.9 pts |
| 3 months | -21.9% | -7.6% | -14.3 pts |
| 3 years | -3.8% | +14.2% | -18.0 pts |
| 5 years | +127.3% | +27.9% | +99.4 pts |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was -437% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 45% of total assets in 2025 |
| explain | Receivables outrunning sales Receivables grew 501% vs sales +391% in 2025 |
| explain | Share dilution Share count up 369% in a year, 6123% in three |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Dec 2025Sales ₹7 Cr -71.8% vs Dec 2024.
Net loss ₹5 Cr.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Harshil Agrotech Ltd?
Harshil Agrotech Ltd (505336) has a market capitalisation of Rs 22.4 Cr. at the 2026-10-01 close.
What were Harshil Agrotech Ltd's latest quarterly results?
In the Dec 2025 quarter, Harshil Agrotech Ltd sales was Rs 7 Cr (-71.8% vs Dec 2024) with a net loss of Rs 5 Cr.