Harshdeep Hortico discusses FY26 growth, new products

Harshdeep Hortico Limited held its Q4 FY26 investor conference call on May 21, 2026, to discuss financial performance and strategic initiatives. The company reported a Profit After Tax (PAT) of ₹681.98 crore for the full year ended March 31, 2026, compared to ₹359.93 crore in the previous year. Revenue from operations for FY26 stood at ₹3606.71 crore, up from ₹2540.79 crore in FY25. The management highlighted robust growth driven by a diversified product portfolio and expanded manufacturing capabilities.

Financial Performance

The financial results for the half-year periods show a consistent upward trend. For H2 FY26, the company recorded a revenue of ₹36.1 crore and a PAT of ₹6.82 crore, with an EBITDA of ₹11.3 crore. This compares to H1 FY26 revenue of ₹32.64 crore, PAT of ₹5.7 crore, and EBITDA of ₹8.45 crore. The company attributed the growth to increased demand across its product lines.

Period	Revenue (₹ Cr)	PAT (₹ Cr)	EBITDA (₹ Cr)
H2 FY26	36.1	6.82	11.3
H1 FY26	32.64	5.7	8.45
H2 FY25	31.52	5.47	9.01
H1 FY25	24.90	4.22	5.95

Operational Expansion and New Products

Harshdeep Hortico has expanded its manufacturing infrastructure by adding facilities in Delhi and Bhiwandi, bringing the total number of factories to three. The company also introduced new verticals, including rotational moulding fountains and AgriShield shade nets. The fountains, a first in India, come with a 10-year warranty and target both domestic and export markets. The shade nets segment, introduced this year, contributed approximately 3% to total revenue.

The company currently holds over 2,000 SKUs and serves 27 states through a network of 13 major distributors and seven showrooms. Exports accounted for about 2% of total revenue, with new markets added in Canada, the USA, and the Netherlands.

Future Outlook

Management expressed optimism for future growth, targeting a 25-30% annual increase if geopolitical conditions stabilize. The company is focusing on expanding its B2B segment, which constitutes 75% of its business, while leveraging its B2C presence for garden furniture and fountains. To support growth, Harshdeep Hortico is investing in solar energy to reduce electricity costs and optimizing its logistics network.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
0.0%	+1.81%	-7.27%	-14.33%	-1.09%	+22.71%

Harshdeep Hortico Limited's Board of Directors convened on May 4, 2026, and approved the audited standalone financial results for the half year and financial year ended March 31, 2026. The statutory audit was conducted by M/s. Kailash Chand Jain & Co., Chartered Accountants (FRN: 112318W), who issued an unmodified opinion on the standalone financial results, as confirmed under Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 11:35 A.M. IST and concluded at 12:05 P.M. IST.

Key Board Decisions

At the meeting, the Board approved several significant resolutions, which are summarised below:

Decision:	Details
Financial Results Approved:	Audited Standalone Financial Results for the half year & financial year ended March 31, 2026
Internal Auditor Appointed:	Mr. Ankit Manilal Gala appointed as Internal Auditor for F.Y. 2026-27
Dividend Recommended:	Rs. 0.25 per equity share of Rs. 10 each (2.5%) for FY 2025-26, subject to shareholder approval
Auditor's Report:	Unmodified opinion issued by M/s. Kailash Chand Jain & Co., Chartered Accountants

Mr. Ankit Manilal Gala, the newly appointed Internal Auditor, holds a commerce graduate degree and has cleared the IPCC Examination from the Institute of Chartered Accountants of India. He brings more than 15 years of experience in accounting and finance. His appointment is effective from May 4, 2026, for F.Y. 2026-2027.

Standalone Financial Performance

Harshdeep Hortico delivered a strong financial performance for FY26. Revenue from operations grew to Rs. 6,870.90 lakhs from Rs. 5,626.76 lakhs in the previous year. Total income for the full year stood at Rs. 6,874.46 lakhs, compared to Rs. 5,641.94 lakhs in FY25. Net profit from continuing operations increased to Rs. 1,252.13 lakhs from Rs. 970.08 lakhs in FY25. The following table presents the key financial metrics for the full year and the most recent half year:

Particulars:	H2 FY26 (Mar 31, 2026) Audited	H1 FY26 (Sep 30, 2025) Unaudited	H2 FY25 (Mar 31, 2025) Audited	FY26 (Mar 31, 2026) Audited	FY25 (Mar 31, 2025) Audited
Revenue from Operations (Rs. Lakhs):	3,606.71	3,264.19	3,145.23	6,870.90	5,626.76
Other Income (Rs. Lakhs):	3.56	-	6.37	3.56	15.18
Total Income (Rs. Lakhs):	3,610.27	3,264.19	3,151.60	6,874.46	5,641.94
Total Expenses (Rs. Lakhs):	2,694.05	2,576.06	2,520.87	5,270.12	4,501.12
Profit Before Tax (Rs. Lakhs):	916.22	688.13	630.73	1,604.34	1,140.82
Total Tax Expenses (Rs. Lakhs):	234.24	117.95	83.22	352.21	170.74
Net Profit from Continuing Operations (Rs. Lakhs):	681.98	570.18	547.51	1,252.13	970.08
Basic EPS (Rs.):	4.24	3.54	3.40	7.78	6.03
Diluted EPS (Rs.):	4.24	3.54	3.40	7.78	6.03

Balance Sheet Highlights

The company's total assets expanded to Rs. 8,092.65 lakhs as at March 31, 2026, from Rs. 5,616.65 lakhs as at March 31, 2025. Shareholders' funds grew to Rs. 5,994.13 lakhs from Rs. 4,742.01 lakhs, driven by an increase in reserves and surplus to Rs. 4,384.72 lakhs from Rs. 3,132.60 lakhs. Key balance sheet items are presented below:

Balance Sheet Item:	March 31, 2026 (Rs. Lakhs)	March 31, 2025 (Rs. Lakhs)
Share Capital:	1,609.41	1,609.41
Reserves and Surplus:	4,384.72	3,132.60
Total Shareholders' Funds:	5,994.13	4,742.01
Total Non-Current Liabilities:	223.52	18.12
Total Current Liabilities:	1,875.00	856.52
Property Plant and Equipment:	1,738.02	1,236.40
Inventories:	3,821.12	2,356.07
Trade Receivables:	1,994.32	1,315.97
Cash and Cash Equivalents:	96.66	220.92
Total Assets:	8,092.65	5,616.65

Cash Flow Summary

For the year ended March 31, 2026, net cash flow from operating activities stood at Rs. 357.44 lakhs, compared to Rs. 576.70 lakhs in the previous year. Cash used in investing activities was Rs. (840.32) lakhs, primarily on account of purchase of property, plant and equipment worth Rs. (851.27) lakhs. Cash generated from financing activities was Rs. 358.62 lakhs, driven by an increase in secured loans of Rs. 385.49 lakhs. The closing balance of cash and cash equivalents was Rs. 96.66 lakhs, compared to Rs. 220.92 lakhs at the start of the year.

Business Segment and Dividend

Harshdeep Hortico operates within a single business segment — the manufacturing of flower pots — as noted in the financial results in accordance with AS 17 "Segment Reporting". The Board has recommended a final dividend of Rs. 0.25 per equity share of Rs. 10 each (2.5%) for FY 2025-26, subject to approval by shareholders at the ensuing Annual General Meeting. Earnings per share (both basic and diluted) for FY26 stood at Rs. 7.78, compared to Rs. 6.03 in FY25, calculated on the weighted average of share capital outstanding during the year.