Harrisons Malayalam Ltd - Stock Valuation and Financial Performance

BSE: 500467 | NSE: HARRMALAYA | Agriculture | Small Cap

Harrisons Malayalam Share Price

169.20 -0.85 -0.50%
as on 12-Apr'24 10:20

DeciZen - make an informed investing decision on Harrisons Malayalam

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Harrisons Malayalam stock performance -

mw4me loader
P/E Ratio (SA):
116.06
Market Cap:
313.8 Cr.
52-wk low:
113.1
52-wk high:
216.2

Is Harrisons Malayalam Ltd an attractive stock to invest in?

1. Is Harrisons Malayalam Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Harrisons Malayalam Ltd is a average quality company.

2. Is Harrisons Malayalam Ltd undervalued or overvalued?

The key valuation ratios of Harrisons Malayalam Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Harrisons Malayalam Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Harrisons Malayalam Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Harrisons Malayalam:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Harrisons Malayalam Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 3.4%-6.1%-10.2%3.8%6.5%-7.3%10.5%24.8%13.3%11.1%-
Value Creation
Index
-0.8-1.4-1.7-0.7-0.5-1.5-0.30.8-0.1-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 384331285367383354387451472487465
Sales YoY Gr.--13.8%-13.8%28.5%4.6%-7.7%9.5%16.5%4.5%3.2%-
Adj EPS 2.3-19.2-26.20.42.2-13.25.221.911.49.51.5
YoY Gr.--952.4%NANA525.7%-700.5%NA325.6%-47.8%-16.8%-
BVPS (₹) 98.879.75555.556.242.642.862.474.884.684.5
Adj Net
Profit
4.2-35.4-48.30.74.1-24.39.540.521.117.63
Cash Flow from Ops. 25.510.413.521.119.9-733.341.137.531.3-
Debt/CF from Ops. 4.310.98.34.54.8-17.23.42.32.33-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 2.7%4.9%7.9%3.2%
Adj EPS 17.4%34.2%22.7%-16.8%
BVPS-1.7%8.5%25.5%13.2%
Share Price 12.4% 19.2% 6.8% 45.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
1.3-11.6-18.30.43.9-26.612.141.716.711.91.7
Op. Profit
Mgn %
6.2-5.2-11.53.53.3-3.46.112.36.65.62.6
Net Profit
Mgn %
1.1-10.7-16.90.21.1-6.92.594.53.60.6
Debt to
Equity
0.60.81.10.90.91.51.40.80.60.6-
Working Cap
Days
14724626920921023221919518417837
Cash Conv.
Cycle
152213-1050-4-3-4-40

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 22.73%

Debt to equity has declined versus last 3 years average to 0.59

Return on Equity has declined versus last 3 years average to 1.70%

Sales growth has been subdued in last 3 years 7.92%

Sales growth is not so good in last 4 quarters at -6.82%

Latest Financials - Harrisons Malayalam Ltd.

Standalone Consolidated
TTM EPS (₹) 1.5 1.5
TTM Sales (₹ Cr.) 465 465
BVPS (₹.) 84.5 84.4
Reserves (₹ Cr.) 137 137
P/BV 2.01 2.01
PE 116.06 116.41
From the Market
52 Week Low / High (₹) 113.05 / 216.15
All Time Low / High (₹) 3.80 / 390.00
Market Cap (₹ Cr.) 314
Equity (₹ Cr.) 18.5
Face Value (₹) 10
Industry PE 25.1

Management X-Ray of Harrisons Malayalam:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Harrisons Malayalam

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales384331285367383354387451472487
Operating Expenses 360348318354371366364396440460
Manufacturing Costs1018769637166717082100
Material Costs104957911711511594136159142
Employee Cost 124133140145152152165161166178
Other Costs 32333129323233293340
Operating Profit 24-17-331313-1223553127
Operating Profit Margin (%) 6.2%-5.2%-11.5%3.5%3.3%-3.4%6.0%12.3%6.6%5.6%
Other Income 3335966377
Interest 15141414131416141112
Depreciation 6765444444
Exceptional Items 0045000000
Profit Before Tax 5-35-4644-249402318
Tax 1000000000
Profit After Tax 4-35-4644-249402318
PAT Margin (%) 1.1%-10.6%-16.0%1.1%1.2%-6.8%2.4%9.0%4.9%3.7%
Adjusted EPS (₹)2.4-19.1-24.82.22.4-13.15.021.912.49.6
Dividend Payout Ratio (%)42%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 3222872411021047979115138156
Share Capital 18181818181818181818
Reserves 3032682238485606197120138
Minority Interest0000000000
Debt107103968786105105807272
Long Term Debt69594436346758454647
Short Term Debt38435251523947352626
Trade Payables18192832383448435146
Others Liabilities 234244276280293296312310301315
Total Liabilities 681653641501521514544548562589

Fixed Assets

Gross Block510513513282286293301305310319
Accumulated Depreciation808689591316202428
Net Fixed Assets429428424277277280285285286291
CWIP 2218111013223658
Investments 0000000000
Inventories25232225282941353538
Trade Receivables15137814108161411
Cash Equivalents 17993424242
Others Assets192178178181186183194189189189
Total Assets 681653641501521514544548562589

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 2510142120-733413831
PBT 5-35-4644-249402318
Adjustment 21211719161721161112
Changes in Working Capital 12543-1-1-03-1452
Tax Paid -100-1000-1-1-1
Cash Flow From Investing Activity -5-444-7-6-9-11-14-27
Capex -7-539-2-4-2-2-2-14
Net Investments 0000000000
Others 100-5-5-2-8-9-12-14
Cash Flow From Financing Activity -20-14-15-31-1211-23-32-21-5
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 4-2-9-16-139-16-6-27
Interest Paid -15-14-14-14-13-14-16-14-11-12
Dividend Paid -1-200000000
Others -859-11-148-12-9-1
Net Cash Flow 1-83-61-11-12-2
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)2.44-21.41-36.774.024.32-26.4111.7841.6618.1312.09
ROCE (%)6.91-7.6-13.318.748.63-5.0612.8426.7615.712.71
Asset Turnover Ratio0.630.50.440.640.750.680.730.830.850.85
PAT to CFO Conversion(x)6.25N/AN/A5.255N/A3.671.031.651.72
Working Capital Days
Receivable Days11151371012910119
Inventory Days22272923253033312727
Payable Days607010994112114158123109125

Harrisons Malayalam Ltd Stock News

Harrisons Malayalam Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Harrisons Malayalam on 12-Apr-2024 10:20 is ₹169.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 10:20 the market cap of Harrisons Malayalam stood at ₹313.8.
The latest P/E ratio of Harrisons Malayalam as of 12-Apr-2024 10:20 is 116.1.
The latest P/B ratio of Harrisons Malayalam as of 12-Apr-2024 10:20 is 2.01.
The 52-week high of Harrisons Malayalam is ₹216.2 and the 52-week low is ₹113.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Harrisons Malayalam is ₹465.1 ( Cr.) .

About Harrisons Malayalam Ltd

Harrisons Malayalam Limited (HML) is the most successful integrated agricultural operation in South India. One of the oldest - with a history that goes back over hundred and fifty years - it has been a pioneer in corporate farming and has, over this period, established and run plantations for Tea, Rubber, Cocoa, Coffee and a wide variety of Spices. Today the company cultivates thousands of hectare and processes produce from other farmlands in its neighborhood.

The company also produces smaller quantities of a variety of other exotic horticultural crops like Areca nut, Banana, Cardamom, Cocoa, Coffee, Coconut, Pepper and Vanilla as well as limited quantities of Organic tea and spices. The product range includes both CTC and Orthodox Tea, Rubber in concentrated rubber latex, crepe, block and sheet rubber forms. Fresh Pineapple is the other large produce.

As a dominant player in tea exports from South India over its entire history, a position that it maintains even today, the company is a source for quality teas for all the big names in the Tea industry in Europe. Being the industry leader in natural rubber production, HML is known for its high quality natural rubber in the local and export markets.

The company is part of RP-SG and RPG Enterprises one of the largest and well-respected industrial groups in India. The Group has interests in tyres, cables, power transmission, telecommunications, pharmaceuticals, specialty chemicals, retail and consumer marketing, hotel and tourism, entertainment and agri-business.

Business area of the company

The company is principally engaged in plantations having tea and rubber estates in Kerala and Tamil Nadu.

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