Firmer rubber prices seen

Harrisons Malayalam Ltd, an agricultural enterprise with interests in rubber, tea, coffee, cardamom and others, is likely to see a revenue growth of 15-20 per cent in the present fiscal on the back of firm rubber prices.

“Higher sales in its engineering business amid strong prices in some spices would also boost revenue this fiscal,” Pankaj Kapoor, MD of Harrisons Malayalam said here on the sidelines the UPASI event.

The company saw a top line of Rs 331 crore last fiscal. “Sale proceeds from rubber may rise to Rs 190 crore this fiscal compared with Rs 160 crore during last fiscal,” he said.

The realisation will be higher despite less production as price of the commodity is ruling high as of now, he said.

Harrisons’ tea production during the current year would be 20 million kilogram, up by 7.5 per cent from last year.

“On the export front, we expect to see 30 per cent growth of tea exports to 3 million kg this year,” Kapoor said.

To boost production, the company has also taken up re-plantation in its tea estates in around 170 acres.

“Capital expenditure for this year is pegged at Rs 350 crore,” he said.

Kapoor also said that the company was likely to achieve a slightly higher profit this fiscal as compared to last fiscal.

The company has posted a net profit of Rs 11.47 crore during the last fiscal.