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Heranba Industries Limited (HERANBA)

📊 NSE: HERANBA 🏢 Pesticides / Agrochemicals - Indian 📅 Last Updated: 12/13/2025 22:53

📢 Recent Corporate Announcements

Heranba Industries Submits FY26 Business Responsibility and Sustainability Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 08:48 PM

Heranba Industries Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 pursuant to SEBI regulations. The disclosure highlights that exports accounted for 28.47% of turnover across 85 countries, supported by 4 domestic manufacturing plants and 33 offices. The company maintained a workforce of 881 permanent employees and 314 permanent workers with zero reported product safety recalls or data breaches. This is a routine statutory filing containing no material changes to earnings or business strategy.

Exports contributed 28.47% to total turnover across 85 international destination countries.
The company operates 4 manufacturing plants and 33 offices across 20 Indian states.
Total workforce included 881 permanent employees and 314 permanent workers as of FY26 end.
Reported zero product recalls and zero regulatory penalties relating to product safety during FY26.

💡 This is a routine statutory submission; investors should track upcoming Q2 FY27 results and the operational ramp-up of Sarigam Phase 2 and Saykha facilities.

Heranba Industries Submits FY26 BRSR; Exports Account for 28.47% of Turnover

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 08:44 PM

Heranba Industries Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 pursuant to SEBI Listing Regulations. The disclosures show exports contributed 28.47% of total turnover, serving 85 international countries and 20 domestic states across 4 manufacturing plants. The company reported zero customer complaints regarding data privacy, advertising, or trade practices, and recorded zero product recalls during the fiscal year.

Exports accounted for 28.47% of total turnover, reaching 85 international countries.
Operations span 4 domestic manufacturing plants and 33 offices across 20 Indian states.
Total workforce comprised 881 permanent employees and 914 workers (314 permanent, 600 non-permanent).
Reported zero consumer complaints and zero voluntary or forced product recalls in FY26.

💡 This is a statutory ESG disclosure and does not impact financial guidance; investors should focus on upcoming quarterly operational updates and margin recovery in technicals.

Heranba Industries Convenes 34th AGM on September 28, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 08:15 PM

Heranba Industries Limited has issued the notice for its 34th Annual General Meeting scheduled for Monday, September 28, 2026, via Video Conferencing. Key agenda items include the adoption of FY26 audited financial statements, re-appointment of directors retiring by rotation, and approval of cost auditor remuneration of ₹2,00,000. Shareholders will also vote on the re-appointment of Independent Director Ms. Reshma D Wadkar and Executive Director Mr. Shriraj S Shetty for 5-year terms from November 11, 2026, to November 10, 2031.

34th AGM scheduled for Monday, September 28, 2026 at 04:00 PM IST via Video Conferencing.
Proposed re-appointment of Mr. Shriraj S Shetty as Executive Director for 5 years from Nov 11, 2026, to Nov 10, 2031.
Proposed re-appointment of Ms. Reshma D Wadkar as Non-Executive Independent Director for a second 5-year term.
Ratification of ₹2,00,000 remuneration plus GST for Cost Auditor M/s. Tapan Gaitonde & Co. for FY27.

💡 Eligible shareholders can participate in the e-voting process on the proposed ordinary and special resolutions prior to the AGM on September 28, 2026.

Heranba Infuses ₹24.95 Cr in Wholly Owned Subsidiary Mikusu India via Rights Issue

🟡 NEUTRAL ⭐ 4/10

M&A 📅 03 Sep 2026, 06:38 PM

Heranba Industries has subscribed to a rights issue in its wholly owned subsidiary, Mikusu India Private Limited, for an aggregate investment of ₹24.95 crore. On September 3, 2026, Mikusu allotted 2.495 crore partly paid-up equity shares of ₹10 each at par, with ₹12.475 crore paid upon application/allotment and ₹12.475 crore payable on subsequent calls. Mikusu India, engaged in agrochemical trading, reported FY26 revenue of ₹182.68 crore (compared to ₹152.40 crore in FY25 and ₹92.91 crore in FY24). Heranba continues to retain 100% ownership and control with no change in shareholding structure.

Subscribed to 2,49,50,000 partly paid-up equity shares of ₹10 each at par for ₹24.95 crore.
Upfront payment of ₹12.475 crore completed, with the balance ₹12.475 crore payable on call.
Mikusu India reported steady revenue growth: ₹182.68 crore (FY26) vs ₹152.40 crore (FY25) and ₹92.91 crore (FY24).
Shareholding remains at 100%, with no change in ownership or management control.

💡 Track whether capital infusion in the trading arm supports overall volume growth and margins in consolidated quarterly results.

Heranba Approves Up to ₹25 Cr Capital Infusion in Subsidiary Mikusu India via Rights Issue

🟡 NEUTRAL ⭐ 5/10

M&A 📅 22 Aug 2026, 01:45 PM

Heranba Industries' Board of Directors approved an additional investment of up to ₹25 Crore in its wholly owned subsidiary, Mikusu India Private Limited, via a rights issue. Mikusu India, engaged in trading agrochemical products, reported a turnover of ₹182.68 Crore in FY26, up from ₹152.40 Crore in FY25 and ₹92.91 Crore in FY24. The capital infusion represents ~3.7% of Heranba's current market capitalization (₹668 Crore) and is intended to support Mikusu's operational and growth needs without changing the 100% shareholding structure.

Approved equity capital infusion of up to ₹25 Crore in wholly owned subsidiary Mikusu India Private Limited via rights issue.
Mikusu India's turnover grew to ₹182.68 Crore in FY26 from ₹152.40 Crore in FY25 and ₹92.91 Crore in FY24.
The transaction will be completed in cash with no change in 100% ownership or control.
Investment of ₹25 Crore equals ~3.7% of Heranba's market cap and ~2.6% of net worth.

💡 Track the deployment timeline of the ₹25 Crore infusion and monitor if Mikusu's trading volume growth improves consolidated operating margins in subsequent quarterly results.

Heranba Designates Quality Control Head Punit H. Vyas as Senior Management Personnel

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 22 Aug 2026, 01:07 PM

Heranba Industries Limited announced that its Board of Directors approved the designation of Mr. Punit H. Vyas, currently serving as Head of Quality Control, as Senior Management Personnel (SMP) effective August 22, 2026. Mr. Vyas brings over 25 years of experience in Quality Assurance, Quality Control, and regulatory compliance across agrochemicals and pharmaceuticals, with prior tenures at PI Industries and Navin Fluorine. This is a procedural governance reclassification under SEBI listing regulations with no direct financial impact on the company, which reported a net loss of ₹77.26 Cr on ₹1,594.51 Cr revenue in FY26.

Designation of Mr. Punit H. Vyas as Senior Management Personnel effective August 22, 2026
Executive brings over 25 years of experience in QA/QC and regulatory management across chemical/pharma domains
Prior leadership experience includes roles at PI Industries, Navin Fluorine, and JB Chemicals
Company reported FY26 revenue of ₹1,594.51 Cr and a net loss of ₹77.26 Cr

💡 Track subsequent quarterly financial prints for signs of margin recovery and stabilization across the technicals and formulation businesses.

Heranba Q1 Standalone PAT at ₹9.46 Cr (Down 57% YoY); Approves ₹25 Cr Subsidiary Infusion

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 22 Aug 2026, 12:52 PM

Heranba Industries reported standalone revenue of ₹364.99 crore for the quarter ended June 30, 2026, declining 25.5% YoY from ₹489.84 crore but recovering 3.3% QoQ. Standalone PAT fell 57.0% YoY to ₹9.46 crore compared to ₹22.02 crore in Q1 FY26, though it rebounded into profit from a net loss of ₹12.50 crore in Q4 FY26. Diluted EPS stood at ₹2.37 versus ₹5.50 YoY. Additionally, the Board approved an equity investment of up to ₹25 crore in its wholly owned subsidiary, Mikusu India Private Limited, through a rights issue.

Standalone revenue from operations stood at ₹364.99 Cr, down 25.5% YoY from ₹489.84 Cr
Net profit after tax reached ₹9.46 Cr compared to ₹22.02 Cr in Q1 FY26 and a loss of ₹12.50 Cr in Q4 FY26
Basic and diluted EPS reported at ₹2.37 for the quarter (vs ₹5.50 in Q1 FY26)
Approved rights issue investment of up to ₹25 Cr in wholly owned subsidiary Mikusu India Private Limited

💡 Track capacity ramp-up and export realization trends across the Saykha and Sarigam plants, alongside deployment and return metrics from the ₹25 crore subsidiary investment.

Resignation of VP - Procurement Sunil Singh Effective July 31, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 21 Jul 2026, 05:56 PM

Heranba Industries has announced the resignation of Mr. Sunil Singh, Vice President – Procurement, effective July 31, 2026. As a designated Senior Management Personnel, his departure occurs while the company is navigating a challenging financial period, reporting a TTM net loss of ₹77 Cr and a 53% share price decline over the past year. The procurement function is critical for the company as it attempts to stabilize margins, which stood at a low 4.4% OPM in the TTM period.

Mr. Sunil Singh to cease being Senior Management Personnel effective July 31, 2026
Company reported a significant quarterly net loss of ₹58 Cr in March 2026
TTM revenue stands at ₹1,595 Cr against a market capitalization of ₹728 Cr
Operating profit margins have compressed to 4.4% due to global macro headwinds
Company is currently operationalizing new facilities at Sarigam and Saykha to drive growth

💡 Watch for the appointment of a successor in the procurement role to ensure supply chain continuity as the company ramps up its new ₹730 Cr+ PPE assets.

July 31, 2026: Resignation of Dr. Sunil Kumar as VP - R&D at Heranba Industries

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 20 Jul 2026, 06:17 PM

Heranba Industries has announced the resignation of Dr. Sunil Kumar, Vice President of Research & Development, effective July 31, 2026. Dr. Kumar, classified as Senior Management Personnel, is leaving to pursue outside opportunities. This transition occurs as the company faces financial headwinds, reporting a TTM loss of Rs 77 Cr and a 53.9% share price decline over the past year. The R&D function is critical for Heranba's stated strategy of launching new products to utilize its recently capitalized Rs 730 Cr+ manufacturing assets.

Dr. Sunil Kumar to cease being Senior Management Personnel effective July 31, 2026.
Company reported a significant net loss of Rs 58 Cr in the most recent quarter (Mar 2026).
Heranba is currently managing a TTM net loss of Rs 77 Cr against a TTM revenue of Rs 1595 Cr.
The company is in a transitionary phase following a Rs 730 Cr+ CAPEX cycle in Sarigam and Saykha.

💡 Monitor the company's announcement regarding a successor for the R&D head, as new product registrations are the primary driver for utilizing the expanded Rs 730 Cr+ asset base.

Heranba Industries Reports 100% Demat Shareholding for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 15 Jul 2026, 02:45 PM

Heranba Industries Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar, Bigshare Services Private Limited, confirmed that no requests for dematerialization or rematerialization were received during the quarter ended June 30, 2026. The filing explicitly states that the entire shareholding of the company is already held in dematerialized form. This is a standard administrative disclosure with no impact on financial or operational performance.

Reporting period ended June 30, 2026
100% of the company's shares are held in dematerialized form
Zero requests for dematerialization or rematerialization were processed during the quarter

💡 This is a routine regulatory filing; investors should continue to monitor core business performance and upcoming quarterly earnings results.

Heranba Industries to Close Trading Window from July 1 for Q1 FY27 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Jun 2026, 03:04 PM

Heranba Industries Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is a standard procedure ahead of the declaration of financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are officially announced. The specific date for the board meeting to approve these results will be communicated at a later date.

Trading window closure effective from Wednesday, July 1, 2026.
Closure is related to the financial results for the quarter ended June 30, 2026.
Window will reopen 48 hours after the public declaration of the quarterly results.
Restriction applies to all designated persons, their immediate relatives, and connected persons.

💡 No action is required as this is a routine regulatory compliance filing. Investors should monitor for the future announcement of the board meeting date to track the company's Q1 performance.

Heranba Settles IBC Dispute; NCLT Allows Withdrawal of Insolvency Application

🟢 POSITIVE ⭐ 7/10

LEGAL 📅 10 Jun 2026, 01:21 PM

Heranba Industries has successfully settled its dispute with Haresh Petrochem Private Limited, which had previously filed an insolvency application under Section 9 of the IBC. The National Company Law Tribunal (NCLT), Ahmedabad, passed an order on June 08, 2026, allowing the withdrawal of the application following the settlement. As a result, no Corporate Insolvency Resolution Process (CIRP) has been initiated against the company. This resolution eliminates a significant legal risk that could have impacted the company's operations and credit standing.

NCLT Ahmedabad permitted the withdrawal of the Section 9 IBC application filed by Haresh Petrochem Private Limited.
The matter was settled out of court between Heranba Industries and the applicant.
No Corporate Insolvency Resolution Process (CIRP) was initiated against the company.
The final order disposing of the application was dated June 08, 2026.
The company confirmed there is no material adverse impact on its operations following this order.

💡 Investors can breathe a sigh of relief as the threat of insolvency proceedings has been removed. Continue to monitor the company's cash flow management to ensure no further payment defaults occur.

Heranba Industries Promoters Confirm Nil Encumbrance on Shares for FY 2025-26

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 08 Jun 2026, 07:22 PM

Raghuram K Shetty, representing the promoter group of Heranba Industries Limited, has filed a formal disclosure confirming that no shares held by the promoters or persons acting in concert (PAC) were encumbered during the financial year 2025-2026. This annual declaration is mandatory under Regulation 31(4) of the SEBI (SAST) Regulations. The disclosure lists 12 members within the promoter group, including individuals and HUFs, all of whom maintained zero pledges on their holdings as of March 31, 2026. This transparency indicates that the promoters have not leveraged their equity stakes for personal or business financing.

Promoters and Promoter Group members confirm zero encumbrance on shares for the entire FY 2025-26.
Compliance filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.
The declaration covers 12 distinct promoter entities and individuals including Sams Industries Private Limited.
The disclosure was submitted on April 06, 2026, following the financial year-end of March 31, 2026.

💡 Investors should take this as a positive sign of promoter financial stability and confidence. No action is required as this is a routine but favorable regulatory filing confirming the absence of share pledges.

Heranba Industries Re-appoints M/s. Tapan Gaitonde & Co. as Cost Auditor for FY 2026-27

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 May 2026, 07:07 PM

Heranba Industries Limited has officially re-appointed M/s. Tapan Gaitonde & Co. as the company's Cost Auditor for the Financial Year 2026-27. The decision was approved by the Board of Directors during their meeting on May 28, 2026. The auditing firm brings 15 years of specialized experience in cost records maintenance, internal audits, and tax consultancy. This move ensures the company remains compliant with statutory cost auditing regulations for the upcoming fiscal period.

Re-appointment of M/s. Tapan Gaitonde & Co. as Cost Auditor for the full Financial Year 2026-27.
The appointed firm possesses over 15 years of experience in cost accounting and statutory compliance.
The appointment was approved by the Board of Directors in a meeting held on May 28, 2026.
Compliance maintained under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

💡 This is a routine administrative update with no direct impact on the company's financial health or stock price; no immediate action is required from investors.

Heranba FY26 Revenue Up 17% to ₹1,756 Cr; Q4 Net Loss Widens to ₹12.5 Cr

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 28 May 2026, 06:56 PM

Heranba Industries reported a mixed set of results for FY26, with annual revenue growing 17.4% YoY to ₹1,755.55 crore, though annual net profit declined by 5.8% to ₹50.87 crore. The fourth quarter (Q4FY26) was particularly weak, with revenue falling 10.6% YoY and net losses widening to ₹12.50 crore from a loss of ₹5.28 crore in the previous year's quarter. Financial health concerns have emerged as short-term borrowings doubled to ₹458.05 crore and operating cash flow turned significantly negative at ₹(203.92) crore. Consequently, the board has skipped recommending a dividend for the year.

Full-year FY26 revenue increased 17.4% YoY to ₹1,755.55 crore, but Net Profit fell 5.8% to ₹50.87 crore.
Q4 FY26 standalone net loss widened to ₹12.50 crore compared to a loss of ₹5.28 crore in Q4 FY25.
Short-term borrowings surged to ₹458.05 crore as of March 31, 2026, up from ₹230.46 crore in the previous year.
Net cash flow from operating activities deteriorated to negative ₹203.92 crore from a positive ₹136.71 crore in FY25.
The Board of Directors did not recommend any dividend for the financial year 2025-26.

💡 Investors should exercise caution as the company faces margin pressure from rising raw material costs and a significant increase in debt. The transition to negative operating cash flow and the decision to skip dividends suggest liquidity tightness that warrants close monitoring.

View All HERANBA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total consolidated segment revenue for H1 FY26 reached INR 974.14 Cr, representing a 32.77% growth compared to INR 733.67 Cr in H1 FY25. A major business segment contributed INR 255.30 Cr, or 26.21% of total revenue, during H1 FY26.

Geographic Revenue Split

Export revenue contribution has moderated from 45% in FY23 to approximately 28-30% in FY25 due to global demand slowdown. Domestic revenue is supported by a pan-India network of 9,500+ dealers and 21+ depots.

Profitability Margins

Net profit margins are projected to stabilize at 5-6% in the next fiscal year. Consolidated Profit Before Tax (PBT) for H1 FY26 was INR 18.86 Cr, a 71.67% decline from INR 66.57 Cr in H1 FY25, impacted by a 74% increase in depreciation and a 127% rise in interest costs.

EBITDA Margin

EBITDA margins were suppressed at 5.4% for 9M FY25 due to lower product realizations and macro headwinds. Management targets a recovery to 12-14% EBITDA margin for the next fiscal year.

Capital Expenditure

Property, Plant, and Equipment (PPE) increased to INR 730.59 Cr as of September 30, 2025, from INR 662.34 Cr in March 2025. Significant investments are focused on the Sarigam Phase 2 and Saykha facilities.

Credit Rating & Borrowing

The company maintains a 'CRISIL A/Stable' rating (outlook revised from Positive) and 'CRISIL A1' for short-term facilities. Gearing remains low at 0.07 times, though interest expenses rose to INR 23.88 Cr in H1 FY26 from INR 10.49 Cr YoY.

⚙️ Operational Drivers

Raw Materials

Key raw materials include chemical intermediates for Technicals, Formulations, and Intermediates, which constitute the bulk of the 350+ products commercialized.

Import Sources

Not explicitly disclosed, but the company exports to 65+ countries across Asia, Africa, Middle East, and Southeast Asia, suggesting global sourcing and distribution links.

Capacity Expansion

Sarigam Phase 1 started commercial production in Q2 FY25. Sarigam Phase 2 and the Saykha facility are both expected to commence commercial production by the end of Q4 FY25.

Raw Material Costs

Raw material costs are impacted by lower realizations in the technical business. Provision for doubtful receivables increased to INR 8.26 Cr in H1 FY26 from INR 0.65 Cr YoY, reflecting credit environment challenges.

Manufacturing Efficiency

Manufacturing efficiency is currently impacted by lower realizations and the transitionary phase of new CAPEX; depreciation rose 74% YoY to INR 46.99 Cr as new assets were capitalized.

Logistics & Distribution

Distribution is handled through a network of 9,500+ dealers, supporting domestic revenue growth despite international headwinds.

📈 Strategic Growth

Expected Growth Rate

10.50%

Growth Strategy

Growth will be driven by operationalizing Sarigam Phase 2 and Saykha facilities by Q4 FY25, adding new product registrations, and expanding the customer base. The company aims to leverage its integrated 'Technicals to Formulations' model to capture market share as prices bottom out.

Products & Services

Agrochemical Technicals, Formulations, and Intermediates, including Synthetic Pyrethroids and branded domestic formulations.

Brand Portfolio

Heranba, Mikusu India, Daikaffil Chemicals.

New Products/Services

The company is looking to add new product registrations to drive the 'next wave of growth' following the completion of current CAPEX cycles.

Market Expansion

Expansion into 65+ countries and strengthening the domestic presence through 9,500+ dealers and new manufacturing hubs in Saykha and Sarigam.

Market Share & Ranking

Heranba is one of the leading players in the Indian agrochemicals industry with a diversified product mix.

Strategic Alliances

The group includes subsidiaries Mikusu India Private Limited, Heranba Organics Private Limited, and step-down subsidiary Daikaffil Chemicals India Limited.

🌍 External Factors

Industry Trends

The agrochemical industry is currently in a 'transitionary year' characterized by price bottoming and inventory destocking. Future growth is expected from integrated players with strong registration pipelines.

Competitive Landscape

Competes with other large-scale agrochemical manufacturers in both the technical export market and the domestic branded formulation market.

Competitive Moat

The moat is built on integrated operations (Technicals to Formulations), a massive network of 9,500+ dealers, and a portfolio of 350+ commercialized products, which are difficult for new entrants to replicate quickly.

Macro Economic Sensitivity

Highly sensitive to global agrochemical demand cycles and domestic monsoon patterns affecting the formulation business.

Consumer Behavior

Shift toward branded formulations in the domestic market is supporting revenue, while international B2B customers are currently focused on inventory destocking.

Geopolitical Risks

Challenging global macros and trade conditions have already reduced export revenue share by approximately 15 percentage points since FY23.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by SEBI (LODR) Regulations and agrochemical manufacturing standards, including CIB&RC registrations for new products.

Environmental Compliance

Operations are subject to pollution control norms at GIDC Vapi, Sarigam, and Saykha; no specific ESG cost figures were provided.

Taxation Policy Impact

The company follows Indian Accounting Standards (Ind AS); specific tax rate impacts were not detailed beyond standard corporate tax applications.

Legal Contingencies

Auditors reported no matters causing belief that financial results have not disclosed required information under Regulation 33 of the Listing Regulations.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the timeline for the recovery of international demand, which could keep EBITDA margins suppressed below the 12-14% target if destocking persists.

Geographic Concentration Risk

Approximately 70% of revenue is now domestic, increasing sensitivity to Indian agricultural cycles, while 30% remains exposed to 65+ international markets.