Harikanta OverseasShare price, financial results, shareholding and management
- Market cap
- ₹54 cr
- Stock P/E
- 7.5peers 15.6
- Book value
- ₹21.2
- Price to book
- 2.56
- EV / operating profit
- -
- Market cap to sales
- 1.16
- ROCE · FY26
- 47.0%
- ROE · FY26
- 41.2%
- ROE, 3-year average
- 50.0%
- Operating margin · FY26
- 22.7%peers 11.6%
- Sales growth, 3 years
- 45.9%
- Profit growth, 3 years
- 205.7%
- Debt to equity
- 0.17peers 0.47
- Borrowings
- ₹3.6 cr
- Interest cover
- 20.4×
- Cash from business / op. profit
- 26%
- Debtor days
- 109
- Pledged
- 0.00%
- Promoter holding
- 70.66%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 400
- 52-week high / low
- ₹92 / ₹54
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Harikanta Overseas share price chart
Close on 6 Nov 2026 · -6.43% on the day · Vol 18,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -25.1%
- 3 months
- -22.5%
- Traded a day, 20 days
- ₹0.14 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +31% | +62% |
| 3 years, a year | +46% | +206% |
About Harikanta Overseas: business, products and customers
Harikanta Overseas weaves synthetic fabrics in Surat, mainly colourful Ikat fabric used for sarees and traditional dress, and sells them in India and to buyers in Cambodia, Thailand and Bahrain. Its shares trade on BSE SME.
The company purchases dyed and textured polyester yarn and natural fibre yarn in the Surat market and weaves it on jacquard rapier looms into Ikat, dhupion, saree, polyester garment, poly linen and natural fibre fabrics. Its unit at Sai Ram Industrial Estate, Bamroli, Surat runs on plots leased from Nilesh Gotawala and Parulben Gotawala, and its wholly owned subsidiary Harikanta Weaving, with 16 rapier looms, takes overflow work.
Part of the revenue is its own fabric and part is weaving done to order for other firms (contract manufacturing), and it also supplies merchant exporters, helping them with packing and shipping. Until FY24 a large share of the work was weaving for the promoters' own firms; in September 2024 the company bought those firms' looms, the firms agreed not to compete for twenty years, and the company started making the wider range itself. That is why revenue tripled in FY25: the reported growth largely reflects business moved in from the promoters' firms.
Read more about the business
The offer document compares it with two listed synthetic fabric makers, Betex India and Swasti Vinayaka Synthetics, while noting they are not strictly comparable in size. It says some rivals spin their own yarn, which gives them a cost edge.
With the issue money it plans a new factory on plots at Diamond Industrial Park, Sachin, Surat, leased from Hardik Gotawala and Abhishek Gotawala, with new rapier, air-jet and shuttleless looms, and later nylon fabrics and its own yarn processing.
From the Red Herring Prospectus dated 12 May 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 46% a year over three years.
- It earns a high return on the money it uses: ROCE 47% in FY26.
- It has little debt for its size: debt to equity 0.17.
- The promoters own a large part of the company: 70.66%.
To watch
- Ordering of the 38 new looms and completion of the Sachin factory, with commercial production targeted in FY27 (Red Herring Prospectus, May 2026, p.18 and p.70 to 71).
- Whether sales to Cambodia and the top five customers stay steady (Red Herring Prospectus, May 2026, p.105 and p.116).
- Dealings with promoter family firms, including rent, job work and yarn purchases, as reported after listing (Red Herring Prospectus, May 2026, p.42 to 43 and p.118 to 120).
- Launch of nylon fabrics and in-house yarn processing (Red Herring Prospectus, May 2026, p.109 to 110).
- Customers take longer to pay than before: 109 days in FY26, against 50 in FY22.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Harikanta Overseas revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months.
Harikanta Overseas half-yearly results
SME companies report every six months · ₹ crore
| H2FY26 | |
|---|---|
| Sales | 28.77 |
| Expenses | 22.82 |
| Operating profit | 5.94 |
| OPM | 20.7% |
| Interest | 0.30 |
| Depreciation | 0.70 |
| Profit before tax | 5.47 |
| Net profit | 4.21 |
Harikanta Overseas profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 7.14 | 14.83 | 11.11 | 35.17 | 46.08 |
| Expenses | 7.12 | 14.31 | 9.83 | 28.46 | 35.63 |
| Operating profit | 0.02 | 0.52 | 1.28 | 6.71 | 10.45 |
| OPM | 0.3% | 3.5% | 11.5% | 19.1% | 22.7% |
| Other income | 0.18 | 0.16 | 0.16 | 0.33 | 0.64 |
| Interest | 0.02 | 0.13 | 0.09 | 0.19 | 0.48 |
| Depreciation | 0 | 0.20 | 0.23 | 0.69 | 1.32 |
| Profit before tax | 0.18 | 0.35 | 1.12 | 6.16 | 9.29 |
| Tax rate | 27.8% | 25.7% | 26.8% | 28.2% | 23.1% |
| Net profit | 0.12 | 0.25 | 0.82 | 4.42 | 7.14 |
| EPS ₹ | 80 | 5.05 | 16.57 | 6.14 | 9.92 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings per share before FY23 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Harikanta Overseas profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 0.3% | 3.5% | 11.5% | 19.1% | 22.7% |
| Tax rate | 27.8% | 25.7% | 26.8% | 28.2% | 23.1% |
| ROCE | · | 28.8% | 40.9% | 62.0% | 47.0% |
| ROE | · | 31.8% | 52.6% | 56.1% | 41.2% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Harikanta Overseas debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and drew on its cash. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Harikanta Overseas balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.02 | 0.50 | 0.50 | 7.20 | 7.20 |
| Reserves | 0.40 | 0.65 | 1.47 | 6.58 | 13.71 |
| Net worth | 0.42 | 1.15 | 1.97 | 13.78 | 20.91 |
| Borrowings | 0.43 | 1.33 | 1.47 | 3.25 | 3.62 |
| Other liabilities | 1.24 | 2.51 | 3.16 | 7.03 | 10.07 |
| Total liabilities | 2.09 | 4.99 | 6.60 | 24.06 | 34.60 |
| Fixed assets | 0 | 1.24 | 1.04 | 6.55 | 7.11 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.01 | 1.41 | 2.42 | 3.15 | 3.24 |
| Other assets | 2.08 | 2.34 | 3.14 | 14.36 | 24.25 |
Harikanta Overseas cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | · | 1.94 | 0.68 | -0.32 | 2.76 |
| Cash from investing | · | -3.37 | -0.63 | -7.28 | -3 |
| Cash from financing | · | 1.28 | 0.06 | 8.88 | -0.09 |
| Net cash flow | · | -0.15 | 0.11 | 1.28 | -0.33 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 50 | 18 | 43 | 42 | 109 |
| Inventory days | 42 | 4 | 30 | 93 | 59 |
| Days payable | 81 | 55 | 144 | 76 | 93 |
| Cash conversion cycle | 11 | -32 | -71 | 58 | 76 |
| Working capital days | 14 | -39 | -36 | 44 | 81 |
Harikanta Overseas peers and competitors
Listed SME companies in the same industryBy sales, Harikanta Overseas is number 49 of the 62 listed SME companies in textiles & apparels.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| JAKHARIA FABRIC | 73 | 21.7 | 64.2 | 3.3 | 9.8% | 0.21 |
| Panchatv Bharat | 39 | 9.7 | 56.9 | 4 | 11.7% | 1.12 |
| Rachit Prints | 93 | 20.4 | 53.2 | 4.6 | 16.0% | 0.31 |
| Signoria Creation | 64 | 14.9 | 49.3 | 4.3 | 17.1% | 0.88 |
| Vera Synthetic | 43 | 12.1 | 49.2 | 3.5 | 8.5% | 0.00 |
| Harikanta Overseas | 54 | 7.5 | 46.1 | 7.1 | 22.7% | 0.17 |
| Kizi Apparels | 16 | 16.2 | 42.6 | 1 | 5.7% | 0.52 |
| Avax Apparels and Ornaments | 44 | 14.8 | 41.5 | 3 | 11.5% | 0.43 |
| Rajnandini Fashion India | 26 | 4.4 | 37.1 | 5.9 | 23.9% | 0.82 |
| Riyaasat Lifestyle | 107 | 20.7 | 33.4 | 5.2 | 30.5% | 2.26 |
| C P S Shapers | 262 | 2049.7 | 31.3 | 0.1 | 6.7% | 0.30 |
| Median of the 10 others | 54 | 15.6 | 45.9 | 3.8 | 11.6% | 0.47 |
Harikanta Overseas shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders is about the same.
Harikanta Overseas shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| May 26 | Jun 26 | |
|---|---|---|
| Promoters | 70.66% | 70.66% |
| Foreign investors (FIIs) | - | 9.54% |
| Indian institutions (DIIs) | - | 0.46% |
| Number of shareholders | 400 | 400 |
Harikanta Overseas study: the business from its own documents
Read from 3 of the company's own documentsHarikanta Overseas key facts from the filings
Each figure with the document it comes from
- FY25 revenue
- ₹35.2 cr
- Consolidated, up from ₹11.1 cr in FY24 after the promoters' looms moved in; profit after tax ₹4.5 cr against ₹0.8 cr.Red Herring Prospectus, May 2026, p.107
- Eight months to November 2025
- ₹26.1 cr
- Revenue to 30 November 2025, with profit after tax of ₹5.1 cr, already above the whole of FY25.Red Herring Prospectus, May 2026, p.107
- Ikat fabrics
- 75.6%
- Share of revenue in the eight months to November 2025; dhupion fell to 2.0% from 14.4% in FY25 as new fabrics were added.Red Herring Prospectus, May 2026, p.107
- Exports
- 42.0%
- Direct export share of revenue in the eight months to November 2025, plus 22.9% through merchant exporters; Cambodia alone took 34.5% of sales.Red Herring Prospectus, May 2026, p.105
- Top five customers
- 66.5%
- Share of sales in the eight months to November 2025; the largest single customer took 20.8%.Red Herring Prospectus, May 2026, p.116
Show 5 more facts
- Capacity used
- 92.6%
- Of about 12.0 lakh metres a year installed in FY25, after the looms bought from the promoters' firms were added.Red Herring Prospectus, May 2026, p.117
- Expansion from issue
- ₹14.7 cr
- ₹5.4 cr for a new building and ₹9.3 cr for 38 new looms and other machines; no machine orders placed at the time of the prospectus.Red Herring Prospectus, May 2026, p.15 to 16, p.18 and p.70 to 71
- Promoters as landlords
- ₹2.86 lakh a month
- Rent for the Bamroli plots leased from Nilesh and Parulben Gotawala; the Sachin plots for the new factory cost ₹1 lakh a month each from Hardik and Abhishek Gotawala.Red Herring Prospectus, May 2026, p.118 to 120; our arithmetic
- Yarn from a related firm
- 83.9%
- Share of FY24 purchases from Shree Jalaram Export, a firm of a director's relative; the top supplier's share fell to 12.5% by November 2025.Red Herring Prospectus, May 2026, p.42 to 43 and p.115
- Operating cash flow
- ₹-0.15 cr
- In the eight months to November 2025, after ₹-0.43 cr in FY25, even as reported profit rose.Red Herring Prospectus, May 2026, p.39
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it will build a factory of about 44,900 sq. ft. on plots in Sachin, Surat, and install 20 new rapier looms, 10 high speed air-jet looms and 8 high speed shuttleless rapier looms, expecting the work to take six to eight months with commercial production targeted in FY27. It plans to add nylon fabrics, make more natural fibre fabric and process yarn in house, and to use ₹4.75 cr of the issue money for working capital. It also says it wants new customers in existing and new export markets.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Harikanta Overseas earns its money weaving Ikat and other synthetic fabrics in Surat, much of it for export, and its margins rose sharply once the promoters' weaving businesses were brought inside the company.
Its weak spots are dependence on a few buyers and on Cambodia, many dealings with promoter family firms and landlords, and a large factory plan that is not yet built.
AverageCan it set its own prices?Custom designs help it charge more on some orders, but competitors that spin their own yarn can undercut it on cost.
WatchHow strong is it against rivals?Surat has many small weavers and large mills, and the company is small in both groups.
WatchWho are its customers?A handful of buyers, many of them in one export market, take most of the fabric.
AverageDoes it need a lot of money?Borrowings are low, but the planned factory and looms cost far more than its current plant, and operating cash has been slightly negative.
AverageCan it keep finding new work?Looms already run near full, so growth depends on the new factory and on winning buyers for new fabrics such as nylon.
WatchDo good and bad years swing a lot?Sales have moved sharply from year to year, with exports and the shift of work from the promoters' firms both playing a part.
Who runs Harikanta Overseas?
Promoters, directors and officers; tap a name for the background
HGHardik GotawalaPromoter and Managing Director · holds 23.55%
A first director since incorporation in 2018, educated to higher secondary level, with over ten years in textiles; proprietor of Tripura Textile, a silk fabric weaving firm, since 2015. Managing Director from July 2025 for five years, on up to ₹1.5 lakh a month. The prospectus describes Hardik Gotawala as the nephew of Nilesh Gotawala and cousin of Abhishek Gotawala.
Red Herring Prospectus, May 2026, p.104 and p.138 to 139NGNilesh GotawalaPromoter and Whole Time Director · holds 23.55%
A first director, matriculated in 1990, with over thirteen years in textiles; proprietor of Shree Jalaram Enterprise, a silk fabric weaving firm, since 2012, and the person who took over the family power loom business in 1997. Whole Time Director from July 2025 for five years; landlord of most of the Bamroli factory plots.
Red Herring Prospectus, May 2026, p.104, p.118 to 119 and p.138 to 139AGAbhishek GotawalaPromoter and Whole Time Director · holds 23.55%
A first director with a BBA from Veer Narmad South Gujarat University and over six years in textiles; proprietor of Abhishek Tex Fab, a silk fabric weaving firm, since 2019. Whole Time Director from July 2025 for five years; the prospectus states Abhishek Gotawala is the son of Nilesh Gotawala.
Red Herring Prospectus, May 2026, p.104 and p.138 to 139SJShafali JainChief Financial Officer
Holds a Bachelor of Commerce from Veer Narmad South Gujarat University and was a manager at Kotak Mahindra Bank from 2021 to 2025; appointed in May 2025.
Red Herring Prospectus, May 2026, p.146 to 147SMSwati MaluCompany Secretary and Compliance Officer
A Company Secretary since 2012 with a Bachelor of Commerce, earlier at Mohit Industries and Shiven Yarns; appointed in June 2025.
Red Herring Prospectus, May 2026, p.146 to 147SSShreyansh ShahIndependent Director
A Chartered Accountant in practice since 2019 with over six years of experience, who has also passed the ICAI information systems audit assessment.
Red Herring Prospectus, May 2026, p.139SSSefali SanghviIndependent Director
A Company Secretary with commerce and law degrees and over six years in corporate secretarial and legal work, now Company Secretary at Millennia Ceramica.
Red Herring Prospectus, May 2026, p.139HAHarshal AgrawalIndependent Director
A Company Secretary since 2014 with over eleven years in secretarial and compliance roles at several companies, now with Sumilon Polyester and Saj Industries.
Red Herring Prospectus, May 2026, p.139Harikanta Overseas latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 June 2026: promoters unchanged at 70.66%.
Harikanta Overseas announcements
5 on record, latest first; each opens the filing on the exchange
- Company UpdateCertificate under Regulation 74(5) of SEBI (DP) Regulations, 2018PDF ↗
- Insider Trading / SASTIntimation for Closure of Trading WindowPDF ↗
- Company UpdateAppointment of Statutory AuditorPDF ↗
- AGM/EGMDetails of 08th Annual General Meeting Voting Result along with Scrutinizer ReportPDF ↗
- AGM/EGMProceedings of 08th Annual General Meeting of the companyPDF ↗
Harikanta Overseas annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Harikanta Overseas share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Harikanta Overseas' data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 89 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (98,65,740 shares).
- !The FY26 results imply 72,00,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !Earnings per share changes basis between FY22 (₹80.00) and FY23 (₹5.05) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Harikanta Overseas
What does Harikanta Overseas do?
Harikanta Overseas weaves synthetic fabrics in Surat, mainly colourful Ikat fabric used for sarees and traditional dress, and sells them in India and to buyers in Cambodia, Thailand and Bahrain. Its shares trade on BSE SME.
What is the share price of Harikanta Overseas?
₹54.3 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Harikanta Overseas?
₹54 cr at the close on 6 Nov 2026, on 98,65,740 shares.
What is the P/E of Harikanta Overseas?
7.5 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Harikanta Overseas' revenue and profit?
Revenue ₹46 cr and profit after tax ₹7 cr in FY26.
Who are the promoters of Harikanta Overseas?
Hardik Gotawala, Nilesh Gotawala, Abhishek Gotawala; promoters held 70.66% at 30 June 2026.
What is Harikanta Overseas' website?
www.harikantaoverseas.com
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Built from 2 annual reports, 1 offer document, 5 exchange announcements, 2 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.