Heranba Industries FY26 Results: Revenue up 17.4% to ₹1,755.55 crore, PAT at ₹50.87 crore
- Standalone revenue from operations rose 17.4% YoY to ₹1,755.55 crore in FY26, driven by strong volume growth in domestic technicals
- Standalone PAT declined to ₹50.87 crore from ₹54.00 crore in FY25; EBITDA margin moderated to 7.3% from 8.4%
- Consolidated group reported a Loss After Tax of ₹77.56 crore in FY26 versus PAT of ₹2.25 crore in FY25, impacted by subsidiary losses
- 34th AGM scheduled for September 28, 2026 via VC/OAVM; no dividend recommended for FY2025-26
- Net worth strengthened to ₹973.96 crore; debt-equity ratio rose to 0.49 from 0.26 on fresh borrowings
*this image is generated using AI for illustrative purposes only.
Heranba Industries reported standalone revenue from operations of ₹1,755.55 crore for FY26, a 17.4% increase from ₹1,495.90 crore in FY25, driven by strong volume growth in domestic technicals.
The company's 34th Annual General Meeting is scheduled for Monday, September 28, 2026 at 4:00 PM (IST) through Video Conferencing/Other Audio-Visual Means. The record date for remote e-voting eligibility is September 21, 2026, and the remote e-voting window runs from September 24, 2026 at 9:00 AM to September 27, 2026 at 5:00 PM.
FY26 Financial Performance
Despite healthy revenue growth, profitability remained under pressure from soft price realisations and a shift in product mix. EBITDA margin moderated to 7.3% from 8.4% in FY25, while higher finance costs weighed further on the bottom line.
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Revenue from Operations | ₹1,755.55 crore | ₹1,495.90 crore | +17.4% |
| EBITDA | ₹131.52 crore | ₹128.81 crore | +2.1% |
| EBITDA Margin | 7.3% | 8.4% | -110 bps |
| Profit After Tax | ₹50.87 crore | ₹54.00 crore | -5.8% |
| Net Worth | ₹973.96 crore | ₹926.08 crore | +5.2% |
| Capital Employed | ₹1,000.30 crore | ₹941.86 crore | +6.2% |
| EPS (Basic/Diluted) | ₹12.72 | ₹13.50 | -5.8% |
On a consolidated basis, the group recorded revenue from operations of ₹1,594.99 crore in FY26 against ₹1,409.73 crore in FY25, a growth of 13.1%. The consolidated group reported a Loss After Tax of ₹77.56 crore compared to a Profit After Tax of ₹2.25 crore in FY25, primarily impacted by losses in subsidiary operations, particularly Heranba Organics Private Limited.
Business Vertical Performance
Domestic technicals led growth with sales of ₹781 crore in FY26, accounting for 44% of total sales, up from ₹542 crore (36% share) in FY25. Export technicals remained subdued at ₹304 crore under continued global pricing pressure, while export formulations rose to ₹196 crore from ₹117 crore, aided by new registrations coming into effect.
| Vertical | FY26 Sales (₹ crore) | FY25 Sales (₹ crore) | FY26 Contribution |
|---|---|---|---|
| Technicals (Domestic) | 781 | 542 | 44% |
| Formulations (Domestic) | 475 | 518 | 27% |
| Technicals (Exports) | 304 | 319 | 17% |
| Formulations (Exports) | 196 | 117 | 12% |
Key Financial Ratios
The debt-equity ratio rose to 0.49 from 0.26, reflecting fresh borrowings taken during the year. The net capital turnover ratio improved to 10.55 from 6.75, driven by higher sales and a decrease in working capital.
| Ratio | FY26 | FY25 | Change |
|---|---|---|---|
| Current Ratio | 1.21 | 1.21 | -0.10% |
| Debt-Equity Ratio | 0.49 | 0.26 | +89.89% |
| Return on Equity (ROE) | 5.35% | 5.99% | -10.59% |
| Return on Capital Employed (ROCE) | 7.13% | 8.61% | -17.12% |
| Net Profit Ratio | 2.90% | 3.61% | -19.75% |
| Inventory Turnover Ratio | 5.06 | 4.55 | +11.20% |
AGM Agenda and Corporate Actions
The 34th AGM will transact the following business:
- Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026
- Re-appointment of Sadashiv K. Shetty (DIN: 00038681) as director retiring by rotation
- Re-appointment of Raghuram K. Shetty (DIN: 00038703) as director retiring by rotation
- Ratification of remuneration of ₹2,00,000 plus GST payable to M/s. Tapan Gaitonde & Co., Cost Accountants, for FY2026-27
- Re-appointment of Ms. Reshma D. Wadkar (DIN: 09394615) as Non-Executive Independent Woman Director for a second term of five consecutive years from November 11, 2026 to November 10, 2031
- Re-appointment of Mr. Shiraj S. Shetty (DIN: 06609014) as Whole Time Director designated as Executive Director for five years from November 11, 2026 to November 10, 2031
The Board has not recommended any dividend for FY2025-26. The Register of Members and Share Transfer Books will remain closed from September 22, 2026 to September 28, 2026 (both days inclusive).
R&D and CSR Highlights
Heranba spent ₹7.20 crore on R&D in FY26, representing 0.41% of standalone turnover. The R&D team commercialised 2 herbicide actives, 2 fungicide actives, 1 insecticide active, and 2 advanced intermediates at operational scale during the year, and developed over 20 new formulations.
CSR expenditure for FY26 stood at ₹2.15 crore against a statutory obligation of ₹2.10 crore, covering education infrastructure, health and social awareness, and women empowerment initiatives.
Manufacturing and Operational Highlights
The company operates 7 manufacturing and packaging facilities with aggregate Technicals and Intermediates capacity of 26,700 MTPA and Formulations capacity of 30,000 MTPA, supported by 421 reactors across all facilities. The company holds 1,128 cumulative product registrations across 55 countries, with 269 registrations in pipeline, and exports to 85+ countries.
Historical Stock Returns for Heranba Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.40% | +1.07% | -2.03% | -12.18% | -49.58% | -78.05% |
How does management plan to mitigate the impact of soft price realizations and reverse the declining EBITDA margin trend in FY27?
What specific strategies will Heranba implement to turn around the significant losses reported by subsidiary Heranba Organics Private Limited?
Given the 89% surge in the debt-equity ratio, what is the company's roadmap for deleveraging and managing increased finance costs?
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