Harrisons Malayalam Limited has informed the Exchange regarding Outcome of Board Meeting held on May 25, 2026.
HARRMALAYA · price
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On the reaction day the stock moved 1.7 pts less than Nifty Microcap 250 and 1.2 pts less than its Rubber peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Harrisons Malayalam Limited reported FY2026 standalone profit after tax of Rs 2,915.02 lakhs, nearly doubling from Rs 1,490.06 lakhs in FY2025 - a 95.6% increase. Revenue from operations grew 4.9% to Rs 53,908.42 lakhs from Rs 51,391.40 lakhs. EPS improved to Rs 15.80 from Rs 8.07. The Board also approved a Forensic Audit Report which identified misappropriation of company funds at estate-level by junior employees diverting payments to their own accounts. No material fraud instances were found. Management has initiated disciplinary actions and is strengthening internal controls. The audit opinion remains unmodified. A going concern note highlights that current liabilities exceed current assets, though management states they can meet obligations using credit facilities and expected cash flows.
Strong profit growth is positive for shareholders, but the forensic audit findings of fund misappropriation and the going concern note regarding liquidity mismatch raise governance and financial health concerns that investors should monitor closely.