Penny stock under ₹2: Harshil Agrotech shares were locked in the 5% upper circuit limit after the company revealed its plans to evaluate and sanction the declaration of an interim dividend, broaden its operations into spices processing and export, and consider the issuance of bonus shares.
Harshil Agrotech share price opened at an intraday high of ₹1.32 apiece on the BSE; meanwhile, the stock touched an intraday low of ₹1.31 per share.
A meeting of the board of directors is scheduled to convene on Friday, September 5, 2025, to consider a series of important propositions geared towards increasing shareholder value and broadening its business portfolio, the company said in an exchange filing.
“The proposals under consideration reflect our continued commitment to create sustainable value for our investors while strategically diversifying into high-growth sectors of the agri-business value chain. Expansion into spices processing and exports is a natural extension of our capabilities and offers immense opportunity given the strong global demand for Indian spices,” said Harshil Agrotech.
Recently, the company announced impressive operational and financial results for Q1FY26, which concluded on June 30, 2025. The firm achieved a net profit of ₹6.52 crore for this quarter, in contrast to a net loss of ₹78.30 lakh in Q4FY25 and a profit of ₹90.11 lakh in Q1FY25, reflecting a sevenfold increase year-over-year.
For Q1FY26, revenue from operations surged to ₹59.89 crore, compared to only ₹11.36 crore in revenue recorded for Q1FY25.
Rights Issue
Earlier this year, Harshil Agrotech Limited secured approval for a Rights Issue aimed at raising Rs. 49.38 crore by offering 20.32 crore equity shares priced at Rs. 2.43 each. The offering was made in a 2:5 ratio (2 rights equity shares for every 5 fully paid-up equity shares) for shareholders on the record date of February 5, 2025.
The funds raised from this issue were allocated to satisfy the company’s working capital needs, general corporate endeavors, and expenses related to the issue. The issue was subsequently listed on the BSE after it closed on March 31, 2025. Harshil Agrotech’s Rights Issue was oversubscribed by 1.05 times by the conclusion of the bidding period, with a total bid quantity reported to the BSE of 21,25,66,295 shares. Consequently, the company’s paid-up equity share capital rose from 50,80,00,000 to 71,12,00,000 equity shares.
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