HARRMALAYA
Harrisons Malayalam financials
- Market cap
- ₹343 Cr
- Sector
- Capital Goods
What Harrisons Malayalam Limited does
Harrisons Malayalam Limited operates tea and rubber estates across South India, growing and harvesting its own tea and rubber as well as sourcing bought leaf/bought rubber for processing. It runs multiple tea factories (including Achoor, Surianalle and Lockhart) that manufacture orthodox and CTC tea, and also cultivates fruits, spices and other crops on its plantations. The company trades and exports tea and rubber, and holds a wholly owned subsidiary, Malayalam Plantations Limited.
Segments
- Tea
- Rubber
- Fruits, Spices & Other Crops
- Own-garden tea harvested
- 9,824 MT (FY25)
- Bought-leaf tea processed
- 2,095 MT (FY25)
- Own-garden rubber harvested
- 4,800 MT (FY25)
- Bought rubber processed
- 3,062 MT (FY25)
- Employees
- Over 7,000
- Women in workforce
- 57%
Quarterly results
Q1 FY27: revenue up 7.3%, net profit down 33.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 137 | 142 | 137 | 116 | 134 −2% | 141 −1% | 147 +8% | 125 +7% |
| EBITDA | 7 | 14 | 7 | 8 | -1 −109% | 9 −37% | 9 +31% | 6 −31% |
| Net profit | 4 | 11 | 5 | 6 | 6 +56% | 8 −32% | 9 +76% | 4 −34% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −11.3% 1Y
1Y: ₹209.46 on 10 Sept 2025 → ₹185.81. High ₹230.9 (23 Apr 2026), low ₹156.91 (21 Jan 2026).
Financials, as filed
Revenue grew 3.5% a year over 3 years, FY23 to FY26. Operating margin narrowed to 4.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹487 Cr | ₹488 Cr | ₹514 Cr | ₹539 Cr |
| Operating profit | ₹27 Cr | ₹10 Cr | ₹24 Cr | ₹25 Cr |
| Operating margin | 5.6% | 2.1% | 4.6% | 4.6% |
| Interest | ₹12 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr |
| Depreciation | ₹4 Cr | ₹6 Cr | ₹7 Cr | ₹7 Cr |
| Net profit | ₹18 Cr | ₹-7 Cr | ₹15 Cr | ₹29 Cr |
| Net margin | 3.6% | -1.5% | 2.9% | 5.4% |
| Cash from operations | ₹31 Cr | ₹33 Cr | ₹23 Cr | ₹25 Cr |
| Free cash flow | ₹18 Cr | ₹26 Cr | ₹20 Cr | ₹17 Cr |
| ROCE | 12.0% | 5.0% | 11.0% | 12.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹18 Cr | ₹18 Cr | ₹18 Cr | ₹18 Cr | ₹18 Cr | ₹18 Cr |
| Reserves | ₹97 Cr | ₹120 Cr | ₹138 Cr | ₹125 Cr | ₹147 Cr | ₹160 Cr |
| Borrowings | ₹99 Cr | ₹89 Cr | ₹95 Cr | ₹98 Cr | ₹114 Cr | ₹111 Cr |
| Other liabilities | ₹192 Cr | ₹193 Cr | ₹194 Cr | ₹221 Cr | ₹224 Cr | ₹212 Cr |
| Total liabilities | ₹407 Cr | ₹420 Cr | ₹445 Cr | ₹463 Cr | ₹502 Cr | ₹502 Cr |
| Fixed assets | ₹285 Cr | ₹286 Cr | ₹291 Cr | ₹298 Cr | ₹295 Cr | ₹296 Cr |
| Capital work in progress | ₹22 Cr | ₹36 Cr | ₹58 Cr | ₹72 Cr | ₹98 Cr | ₹105 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹100 Cr | ₹98 Cr | ₹97 Cr | ₹93 Cr | ₹110 Cr | ₹102 Cr |
| Total assets | ₹407 Cr | ₹420 Cr | ₹445 Cr | ₹463 Cr | ₹502 Cr | ₹502 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 6% to 21,529.
- Promoters
- 54.1%
- FIIs
- 0.0%
- DIIs
- 0.1%
- Public
- 45.8%
Since Jun 2025
- DIIs +0.03 pp
- Public −0.02 pp
- FIIs +0.01 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 54.1%, FIIs 0.1%, DIIs 0.1%, Public 45.8%.Dec '23: Promoters 54.1%, FIIs 0.1%, DIIs 0.1%, Public 45.7%.Mar '24: Promoters 54.1%, FIIs 0.1%, DIIs 0.1%, Public 45.7%.Jun '24: Promoters 54.1%, FIIs 0.0%, DIIs 0.1%, Public 45.8%.Sep '24: Promoters 54.1%, FIIs 0.1%, DIIs 0.1%, Public 45.7%.Dec '24: Promoters 54.1%, FIIs 0.1%, DIIs 0.1%, Public 45.7%.Mar '25: Promoters 54.1%, FIIs 0.2%, DIIs 0.1%, Public 45.7%.Jun '25: Promoters 54.1%, DIIs 0.1%, Public 45.8%.Sep '25: Promoters 54.1%, DIIs 0.1%, Public 45.8%.Dec '25: Promoters 54.1%, DIIs 0.1%, Public 45.8%.Mar '26: Promoters 54.1%, DIIs 0.1%, Public 45.8%.Jun '26: Promoters 54.1%, FIIs 0.0%, DIIs 0.1%, Public 45.8%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Harrisons Malayalam Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rainbow Investments Limited | 24.96% | unchanged |
| Vayu Associates LLP (Formerly Vayu Udaan Aircraft LLP) | 20.56% | unchanged |
| Swallow Associates LLP | 5.48% | unchanged |
| Hitesh Ramji Javeri | 3.09% | unchanged |
| Investor Education And Protection Fund Authority | 2.48% | unchanged |
| Harsha Hitesh Javeri | 1.91% | unchanged |
| Trade Apartments Limited | 1.14% | unchanged |
| Harshvardhan Ramprasad Goenka | 0.30% | unchanged |
| Trivikram Khaitan, Trustee of HML TRUST NO.IV | 0.24% | unchanged |
| Trivikram Khaitan, Trustee of HML TRUST NO.V | 0.24% | unchanged |
| Trivikram Khaitan, Trustee of HML TRUST NO.VI | 0.24% | unchanged |
| Trivikram Khaitan, Trustee of HML TRUST NO.II | 0.24% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Harrisons Malayalam Limited
Guides on how to read this kind of business and the numbers that matter.