Harrisons Malayalam Limited (HML) is a significant part of the renowned Rama Prasad Goenka Group (RPG) / RP-Sanjiv Goenka Group (RP-SG Enterprises), representing one of India's most established plantation companies with a legacy spanning over 100 years. HML stands as a leading plantation company in South India, specializing in the cultivation and processing of tea and natural rubber across extensive estates located in Kerala and Tamil Nadu.
The company was incorporated in 1978. Harrisons Malayalam Ltd was formed when the RPG group acquired and merged Harrisons & Crossfield with Malayalam Plantations. The company operates under the stock codes BSE: 500467 and NSE: HARRMALAYA\*\*.
HML cultivates a significant area of over 7,017 hectares spread across the states of Kerala and Tamil Nadu in South India. It produces over 3.3 million kgs of rubber and 12 million kgs of tea annually. The company's operational footprint includes 13 tea estates in Kerala and Tamil Nadu, producing both CTC and orthodox tea varieties, and 11 rubber plantations in Kerala.
The company cultivates approximately 14,000 hectares in total and processes produce from nearby farmlands. Its primary products are rubber, tea, and pineapple. HML produces approximately 9,000 tons of rubber, 20,000 tons of tea, and 25,000 tons of pineapple annually from its estates.
Beyond its core plantation activities, the company has established and manages plantations for tea, rubber, cocoa, coffee, and a variety of spices. HML is also involved in the trading and export of tea and rubber products.
The company has a market capitalization of ₹408 Crore as per recent data. Its revenue stands at ₹514 Crore with a profit of ₹14.9 Crore for the fiscal year. In Q3 FY25, Harrisons Malayalam Ltd's net profit saw a significant jump of 67.66% compared to the same period last year, reaching ₹11.20 Crore.
The company's financial metrics present a mixed performance. The Stock P/E ratio is 27.4, Book Value is ₹83.3, with ROCE at 11.2% and ROE at 9.99%. The company has delivered a relatively modest sales growth of 5.94% over the past five years. Harrisons Malayalam has an operating revenue of ₹518.18 Crore on a trailing 12-month basis, with an annual revenue growth of 1%.
- Market Cap: ₹408 Crore (as per latest data)
- Revenue (FY): ₹514 Crore
- Profit (FY): ₹14.9 Crore
- Q3 FY25 Net Profit: ₹11.20 Crore (up 67.66% YoY)
- Operating Revenue (TTM): ₹518.18 Crore
- ROE: 9.99%
- ROCE: 11.2%
- Book Value: ₹83.3
HML is a significant employer in rural South India, providing employment to approximately 10,000 people across its tea and rubber plantations. Notably, 60% of its direct workforce are women who benefit from employer welfare activities and community engagement initiatives.
The company has garnered notable recognition for its workplace culture. HML was ranked 17th in India by the Great Place to Work Institute and The Economic Times 2022 survey. In 2021, the company was awarded the 6th rank among Great Places to Work in India and the 16th rank among Great Places to Work in Asia.
Committed to the profitable and sustainable growth of the agro-industry, HML has forged various eco-friendly partnerships. The company holds certifications such as Rain Forest Alliance and Trustea, underscoring its dedication to sustainable agricultural practices and environmental stewardship in its plantation operations.
The plantation industry, particularly natural rubber cultivation, has experienced positive momentum recently. Natural rubber prices have surpassed ₹200/kg for the first time in six months, signaling a positive shift for growers. This price surge is attributed to reduced availability due to the low production season, as noted by Santhosh Kumar, CEO of Harrisons Malayalam Ltd.
The promoter holding stands at 54.1%, indicating strong management control and confidence in the company's future prospects. The company's registered office is located in Cochin, and its plantation activities are primarily situated in Southern India.
Harrisons Malayalam Limited continues to play a vital role in India's plantation sector. It leverages its extensive land holdings, established infrastructure, and experienced workforce to maintain its position as a leading producer of tea and natural rubber in the country.
