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Shares of the small-cap agrochemical company Heranba Industries plunged as much as 10.80 per cent, falling to their 52-week low of Rs 280.35 apiece on the National Stock Exchange during intraday trading on Friday, February 14, 2025. The fall in the company's share price came after the announcement of the company’s financial results for the third quarter of the fiscal year 2024-25 (Q3FY25).
Heranba Industries, in an exchange filing, said that during Q3FY25, it reported a loss of Rs 10.19 crore, compared to a profit (attributed to the owner of parent) of Rs 13.92 crore reported during the same quarter of the previous fiscal year. However, the company’s revenue jumped 13.9 per cent year-on-year (Y-o-Y) to Rs 341.3 crore during the quarter under review, up from Rs 299.7 crore. On the flip side, the company's total expenses climbed 21 per cent year-on-year to Rs 348.94 crore in Q3FY25, up from Rs 288.43 crore reported in Q3FY24.
The company’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) during Q3FY25 dropped 38.1 per cent Y-o-Y to Rs 12.53 crore, down from Rs 20.24 crore in Q3FY24.
Commenting on the quarterly results, Raghuram K. Shetty, managing director of Heranba Industries, said, "Our export business was affected by weak export demand and falling prices. We are dedicated to accelerating revenue growth and productivity efforts in order to achieve significant margin expansion, and we continue to view FY25 as a crucial acceleration point in Heranba’s trajectory."
Heranba Industries is an agrochemical company in India. The company manufactures synthetic pyrethroids and their intermediates in India, and has six manufacturing facilities across the country. The company enjoys a wide network of businesses in India as well as internationally. Heranba Industries has a market capitalisation of Rs 1,126.58 crore on the NSE as of February 14, 2025.
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Shares of Heranba Industries have dropped nearly 26 per cent in the last six months and nearly 20 per cent in the last year.
Heranba Industries shares have a 52-week range of Rs 562 - Rs 271.45 apiece on the NSE.
Heranba Industries shares continued to trade lower on Friday. At around 1:26 PM, the company’s shares were seen trading at Rs 283 per share, down 9.96 per cent from their previous close of Rs 314.30 on the NSE. A combined total of nearly 0.40 million equity shares of Heranba Industries, estimated to be worth around Rs 11.66 crore, were exchanged on the BSE and NSE.
At the same time, the benchmark equity indices were trading lower. The BSE Sensex was quoted at around 75,663.63, down 475.34 points or 0.62 per cent, and the NSE Nifty50 traded lower by 185.95 points or 0.81 per cent at around 22,845.45.
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