Harshdeep Hortico Limited has entered into a Letter of Intent (LOI) with Ugao Agritech Private Limited for the supply of horticulture products during Financial Year 2026-27. The arrangement carries an indicative aggregate value of approximately ₹12 Crore. Ugao Agritech Private Limited, a leading player in the gardening and horticulture sector, proposes to place orders for flowers and pots/planters through this agreement.

The LOI is primarily non-binding in nature, serving as an expression of mutual intent between the parties. It records the understanding that Ugao will procure the specified goods from Harshdeep Hortico Limited. The definitive documentation, including a detailed supply agreement or individual purchase orders, will set out commercial terms such as pricing, delivery schedules, payment terms, quality specifications, and logistics arrangements.

Key Highlights of the Arrangement

The company stated that the proposed business arrangement reflects continued confidence in its product offerings. It is expected to strengthen its position in the horticulture and garden products segment. Actual revenues arising from the arrangement will depend upon purchase orders issued by the buyer from time to time, market demand, and the fulfillment of agreed commercial terms.

This disclosure was submitted to the BSE SME Platform on June 1, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Hitesh Chunilal Shah, Managing Director of Harshdeep Hortico Limited, signed the disclosure.

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.

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.