Penny Stock: Industrial Product Harshil Agrotech Ltd is a BSE listed penny stock. Surprisingly, this stock has not seen a single seller since 2023 and has risen by about 2,133% in 12 months. In 2024 alone, the stock has risen by 1,228% so far. The current price of the product Harshil Agrotech share is Rs 56.72. In a year, Harshil’s stock has traveled from a level of just Rs 2 to more than Rs 56. Due to the sharp rise, the company has decided to split its shares in the ratio of 1:10 for the first time. This is in line with the company’s fund raising plan.
consistently giving profits
The company’s market cap on BSE is Rs 61.26 crore. The penny stock has been in the green throughout 2023. The stock was around Rs 4.27 on BSE at the start of 2024 and has gained 1,228.34% as of September 6, 2024. The stock has gained a massive 10,807.69% in 5 years. Harshil’s value-to-equity ratio is lower than its sector despite outperforming its sector last year. However, the stock is overvalued as its value-to-book ratio has ranged from 1x to above 3x and is currently at 5.26x.
company business
Harshil Agrotech Limited was earlier incorporated on November 18, 1972 as Mirchi Technologies (India) Limited. The name of the company was changed from Mirchi Technologies (India) Limited to Harshil Agrotech Limited on September 11, 2023. The company is into industrial design activities and has been covering various industries like fertilizers, chemicals, petrochemicals, power plants, fibers, cement, steel plants, pharmaceuticals, dyes and intermediates, paper and pulp and other allied processing industries since its inception. However, according to ICICI Direct data, in 2023, the company changed its object clause and the new objective of the company is to trade and manufacture agro and its related products.
