Heranba Industries Ltd.

•

₹ 164.882.8%

2026-08-21

heranba.comBSE: 543266NSE: HERANBA

Market Cap₹ 653 Cr.

Current Price₹ 160

High / Low₹ 379 / 155

Stock P/E—

Book Value₹ 190

Price to Book1.01

Dividend Yield0.00 %

ROCE4.5 %

ROE0.3 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.48x)
Working capital cycle has improved - days down from 68 to 44
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (42.0% of PBT)
Company has a low return on equity of 5.8% over last 3 years
Company has a low return on capital employed of 9.1%
Interest coverage is weak at 1.6x - earnings barely cover interest
Total debt has risen sharply - up 114.5% year on year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

ChemicalsChemicalsPesticides & Agrochemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	UPL	568.70	23.77	48007.91	1.05	-73.00	58.52	10181.00	10.47	12.00	13.43
2.	PIIND	2496.00	32.51	37868.84	0.60	244.20	-38.95	1702.30	-10.43	16.00	21.69
3.	SUMICHEM	553.65	47.69	27635.20	0.23	214.51	20.45	1063.35	0.62	23.39	21.94
4.	BAYERCROP	4068.40	329.99	18284.24	3.69	321.60	15.39	1835.00	-4.16	30.08	20.03
5.	SHARDACROP	771.80	11.12	6963.22	1.94	88.02	-38.36	1073.77	9.03	31.10	17.32
6.	DHANUKA	995.20	14.94	4436.43	0.20	75.50	27.94	442.02	20.01	24.44	24.83
7.	RALLIS	211.90	25.10	4120.80	1.42	-14.15	-274.26	507.54	7.70	13.23	-0.56
8.	NACLIND	174.00	329.49	4075.83	0.00	20.84	59.82	383.33	-14.50	6.20	10.80
9.	BHAGCHEM	290.25	136.75	3763.65	0.05	133.29	3249.84	1950.19	1475.55	4.55	15.65
10.	GSPCROP	595.35	28.29	2769.49	0.17	263.94	1111.46	3859.95	1153.27	20.81	11.02
11.	BHARATRAS	1279.90	14.85	2127.33	0.04	372.30	838.73	3381.60	796.03	16.63	15.19
12.	HERANBA	163.20	0.00	653.02	0.00	-58.32	-39.96	319.48	-4.57	4.46	-7.29

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	260	275	424	300	258	296	437	341	335	452	522	301	319
	240	279	380	275	246	256	378	329	349	421	473	289	343
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	3	6	2	2	5	1	3	0	3	13	-3	4	-6
Interest	3	2	2	3	5	5	6	6	14	12	12	12	14
Depreciation	6	6	6	6	8	13	14	14	16	21	26	26	25
	15	-6	38	17	4	24	43	-7	-41	11	8	-22	-68
Tax %	23.73%	9.08%	28.83%	17.73%	119.84%	29.67%	12.30%	-40.51%	-1.29%	43.17%	127.65%	-7.38%	14.27%
Net Profit	0	0	0	0	0	17	38	-10	-42	6	-2	-23	-58
	3	-1	7	3	-0	4	9	-3	-10	2	-0	-6	-14
Equity Capital	40	40	40	40	40	40	40	40	40	40	40	40	40
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	40	40	40	40	40	40	40	40	40	40	40	40	40
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Mar 2023

: 260
: 240
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 3
Depreciation: 6
: 15
Tax %: 23.73%
Net Profit: 0
: 3
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2023

: 275
: 279
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 2
Depreciation: 6
: -6
Tax %: 9.08%
Net Profit: 0
: -1
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 424
: 380
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 2
Depreciation: 6
: 38
Tax %: 28.83%
Net Profit: 0
: 7
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 300
: 275
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 3
Depreciation: 6
: 17
Tax %: 17.73%
Net Profit: 0
: 3
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 258
: 246
Operating Profit: —
OPM %: —
Other Income: 5
Interest: 5
Depreciation: 8
: 4
Tax %: 119.84%
Net Profit: 0
: -0
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 296
: 256
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 5
Depreciation: 13
: 24
Tax %: 29.67%
Net Profit: 17
: 4
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 437
: 378
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 6
Depreciation: 14
: 43
Tax %: 12.30%
Net Profit: 38
: 9
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 341
: 329
Operating Profit: —
OPM %: —
Other Income: 0
Interest: 6
Depreciation: 14
: -7
Tax %: -40.51%
Net Profit: -10
: -3
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 335
: 349
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 14
Depreciation: 16
: -41
Tax %: -1.29%
Net Profit: -42
: -10
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 452
: 421
Operating Profit: —
OPM %: —
Other Income: 13
Interest: 12
Depreciation: 21
: 11
Tax %: 43.17%
Net Profit: 6
: 2
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 522
: 473
Operating Profit: —
OPM %: —
Other Income: -3
Interest: 12
Depreciation: 26
: 8
Tax %: 127.65%
Net Profit: -2
: -0
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 301
: 289
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 12
Depreciation: 26
: -22
Tax %: -7.38%
Net Profit: -23
: -6
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 319
: 343
Operating Profit: —
OPM %: —
Other Income: -6
Interest: 14
Depreciation: 25
: -68
Tax %: 14.27%
Net Profit: -58
: -14
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 40
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	TTM
	1,319	1,257	1,410	1,595
	1,163	1,180	1,312	1,526
Operating Profit	168	91	106	—
OPM %	13	7	7	—
Other Income	12	14	8	8
Interest	8	12	31	50
Depreciation	23	26	57	98
	138	52	18	-71
Tax %	24	34	88	-9
Net Profit	104	34	2	-78
EPS	26	9	1	—
Dividend Payout %	5	14	130	—
Minority Interest	0	0	1	-0
Share of Associates	0	0	0	0
Adjusted EPS	26	9	1	—
Minority Interest	0	0	1	-0
Share of Associates	0	0	0	0
Adjusted EPS	26	9	1	—

Mar 2023

: 1,319
: 1,163
Operating Profit: 168
OPM %: 13
Other Income: 12
Interest: 8
Depreciation: 23
: 138
Tax %: 24
Net Profit: 104
EPS: 26
Dividend Payout %: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 26
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 26

Mar 2024

: 1,257
: 1,180
Operating Profit: 91
OPM %: 7
Other Income: 14
Interest: 12
Depreciation: 26
: 52
Tax %: 34
Net Profit: 34
EPS: 9
Dividend Payout %: 14
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9

Mar 2025

: 1,410
: 1,312
Operating Profit: 106
OPM %: 7
Other Income: 8
Interest: 31
Depreciation: 57
: 18
Tax %: 88
Net Profit: 2
EPS: 1
Dividend Payout %: 130
Minority Interest: 1
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 1
Share of Associates: 0
Adjusted EPS: 1

TTM

: 1,595
: 1,526
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 50
Depreciation: 98
: -71
Tax %: -9
Net Profit: -78
EPS: —
Dividend Payout %: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: -27%
3 Years:: -22%
1 Year:: -50%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 6%
Last Year:: 0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-
Equity Capital	40	40	40
	770	803	801
	89	143	253
Trade Payables	189	290	486
	66	185	211
Total Liabilities	1,154	1,461	1,791
ASSETS	-	-	-
	209	445	662
Capital Work in Progress	72	137	70
	1	2	3
	304	275	337
	0	467	555
Cash & Bank	119	40	55
	450	96	109
Total Assets	1,154	1,461	1,791
Total Debt	89	161	345
Net Working Capital	505	241	173
Contingent Liabilities	37	72	134
Book Value per Share	202.54	210.71	210.15
Face Value	10.00	10.00	10.00
Total Debt	89	161	345
Net Working Capital	505	241	173
Contingent Liabilities	37	72	134
Book Value per Share	202.54	210.71	210.15
Face Value	10.00	10.00	10.00

Mar 2023

Equity Capital: 40
: 770
: 89
Trade Payables: 189
: 66
Total Liabilities: 1,154
: 209
Capital Work in Progress: 72
: 1
: 304
: 0
Cash & Bank: 119
: 450
Total Assets: 1,154
Total Debt: 89
Net Working Capital: 505
Contingent Liabilities: 37
Book Value per Share: 202.54
Face Value: 10.00
Total Debt: 89
Net Working Capital: 505
Contingent Liabilities: 37
Book Value per Share: 202.54
Face Value: 10.00

Mar 2024

Equity Capital: 40
: 803
: 143
Trade Payables: 290
: 185
Total Liabilities: 1,461
: 445
Capital Work in Progress: 137
: 2
: 275
: 467
Cash & Bank: 40
: 96
Total Assets: 1,461
Total Debt: 161
Net Working Capital: 241
Contingent Liabilities: 72
Book Value per Share: 210.71
Face Value: 10.00
Total Debt: 161
Net Working Capital: 241
Contingent Liabilities: 72
Book Value per Share: 210.71
Face Value: 10.00

Mar 2025

Equity Capital: 40
: 801
: 253
Trade Payables: 486
: 211
Total Liabilities: 1,791
: 662
Capital Work in Progress: 70
: 3
: 337
: 555
Cash & Bank: 55
: 109
Total Assets: 1,791
Total Debt: 345
Net Working Capital: 173
Contingent Liabilities: 134
Book Value per Share: 210.15
Face Value: 10.00
Total Debt: 345
Net Working Capital: 173
Contingent Liabilities: 134
Book Value per Share: 210.15
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
	0	107	101
Cash from Investing	0	-241	-239
Cash from Financing	0	62	152
	0	-72	14
Free Cash Flow	0	-221	-100
OCF / Net Profit	0.00	3.11	45.02
Cumulative 5-Year FCF	0	0	0
OCF / Net Profit	0.00	3.11	45.02
Cumulative 5-Year FCF	0	0	0

Mar 2023

: 0
Cash from Investing: 0
Cash from Financing: 0
: 0
Free Cash Flow: 0
OCF / Net Profit: 0.00
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.00
Cumulative 5-Year FCF: 0

Mar 2024

: 107
Cash from Investing: -241
Cash from Financing: 62
: -72
Free Cash Flow: -221
OCF / Net Profit: 3.11
Cumulative 5-Year FCF: 0
OCF / Net Profit: 3.11
Cumulative 5-Year FCF: 0

Mar 2025

: 101
Cash from Investing: -239
Cash from Financing: 152
: 14
Free Cash Flow: -100
OCF / Net Profit: 45.02
Cumulative 5-Year FCF: 0
OCF / Net Profit: 45.02
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-
EPS (₹)	26.09	8.72	0.77
Book Value (₹)	202.54	210.71	210.15
Dividend per Share (₹)	1.25	1.25	1.00
Cash EPS (₹)	31.77	15.15	14.71
PROFITABILITY	-	-	-
Operating Margin %	12.54%	5.96%	6.76%
Net Margin %	7.78%	2.68%	0.16%
ROE %	12.88%	4.17%	0.27%
ROCE %	16.18%	6.79%	4.46%
	9.04%	2.64%	0.14%
EFFICIENCY	-	-	-
Debtor Days	105	121	129
Inventory Days	83	82	77
Payable Days	78	101	150
	109	102	56
FINANCIAL HEALTH	-	-	-
Debt to Equity (x)	0.11x	0.19x	0.41x
Interest Coverage (x)	18.33x	5.23x	1.59x
	2.49x	1.40x	1.20x
GROWTH	-	-	-
Revenue Growth %	0.00%	-4.68%	12.14%
Operating Profit Growth %	0.00%	-46.09%	16.32%
Net Profit Growth %	0.00%	-66.94%	-93.48%
	0.00%	-66.57%	-91.20%
VALUATION	-	-	-
P/E (x)	0.00x	32.50x	277.40x
P/B (x)	0.00x	1.35x	1.01x
Dividend Yield %	0.00%	0.44%	0.47%
	0.00x	13.84x	10.83x

Mar 2023

EPS (₹): 26.09
Book Value (₹): 202.54
Dividend per Share (₹): 1.25
Cash EPS (₹): 31.77
Operating Margin %: 12.54%
Net Margin %: 7.78%
ROE %: 12.88%
ROCE %: 16.18%
: 9.04%
Debtor Days: 105
Inventory Days: 83
Payable Days: 78
: 109
Debt to Equity (x): 0.11x
Interest Coverage (x): 18.33x
: 2.49x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 8.72
Book Value (₹): 210.71
Dividend per Share (₹): 1.25
Cash EPS (₹): 15.15
Operating Margin %: 5.96%
Net Margin %: 2.68%
ROE %: 4.17%
ROCE %: 6.79%
: 2.64%
Debtor Days: 121
Inventory Days: 82
Payable Days: 101
: 102
Debt to Equity (x): 0.19x
Interest Coverage (x): 5.23x
: 1.40x
Revenue Growth %: -4.68%
Operating Profit Growth %: -46.09%
Net Profit Growth %: -66.94%
: -66.57%
P/E (x): 32.50x
P/B (x): 1.35x
Dividend Yield %: 0.44%
: 13.84x

Mar 2025

EPS (₹): 0.77
Book Value (₹): 210.15
Dividend per Share (₹): 1.00
Cash EPS (₹): 14.71
Operating Margin %: 6.76%
Net Margin %: 0.16%
ROE %: 0.27%
ROCE %: 4.46%
: 0.14%
Debtor Days: 129
Inventory Days: 77
Payable Days: 150
: 56
Debt to Equity (x): 0.41x
Interest Coverage (x): 1.59x
: 1.20x
Revenue Growth %: 12.14%
Operating Profit Growth %: 16.32%
Net Profit Growth %: -93.48%
: -91.20%
P/E (x): 277.40x
P/B (x): 1.01x
Dividend Yield %: 0.47%
: 10.83x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.94	74.94	74.94	74.94	74.94	74.94	74.94	74.94	74.94
	0.00	0.40	0.42	0.10	0.05	0.06	0.08	0.07	0.01
	0.00	0.00	0.00	0.00	0.07	0.07	0.07	0.07	0.08
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	25.05	24.65	24.64	24.96	24.94	24.94	24.91	24.92	24.97

Jun 2024

: 74.94
: 0.00
: 0.00
Government: 0.00
: 25.05

Sep 2024

: 74.94
: 0.40
: 0.00
Government: 0.00
: 24.65

Dec 2024

: 74.94
: 0.42
: 0.00
Government: 0.00
: 24.64

Mar 2025

: 74.94
: 0.10
: 0.00
Government: 0.00
: 24.96

Jun 2025

: 74.94
: 0.05
: 0.07
Government: 0.00
: 24.94

Sep 2025

: 74.94
: 0.06
: 0.07
Government: 0.00
: 24.94

Dec 2025

: 74.94
: 0.08
: 0.07
Government: 0.00
: 24.91

Mar 2026

: 74.94
: 0.07
: 0.07
Government: 0.00
: 24.92

Jun 2026

: 74.94
: 0.01
: 0.08
Government: 0.00
: 24.97

Documents

Announcements

Resignation of Director/KMP/SMP
2026-07-21 - Heranba Industries Limited has informed the Exchange about Resignation of Director/KMP/SMP
Resignation of Director/KMP/SMP
2026-07-21 - Heranba Industries Limited has informed the Exchange about Resignation of Director/KMP/SMP

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Feb 2025
TranscriptPPTREC
Nov 2024
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Aug 2024
TranscriptPPTREC