Multibagger BSE SME IPO Harshdeep Hortico, which made its stock market debut in February 2024, has already doubled allottees’ wealth in less than two years.
Harshdeep Hortico share price was up 0.25 per cent on Friday, ending the session at ₹99 apiece on BSE. The stock has more than doubled from its IPO price of ₹45.
In February last year, Harshdeep Hortico shares got listed at ₹70 apiece on BSE SME, a premium of 55.55 per cent to the issue price of ₹45. Since then, the stock has rallied as much as 82.72 per cent.
The stock has given significant gains in the near-term by surging over 45.78 per cent in six months and 39.34 per cent in one year.
Harshdeep Hortico Q2 results 2025
Harshdeep Hortico reported a 31 per cent year-on-year (YoY) growth in its revenue to ₹32.64 crore in H1 FY2025-26, as compared to the same period last year.
The Profit Before Tax (PBT) rose to ₹6.88 crore from ₹5.10 crore in the corresponding half of the previous fiscal year, marking a 34.91 per cent year-over-year increase.
Similarly, the Profit After Tax (PAT) climbed to ₹5.70 crore as against ₹4.22 crore in H1 FY2024-25, indicating a 34.94 per cent growth.
Harshit Shah, Director at Harshdeep Hortico, was quoted as saying by ANI, that the company’s growth in net profit and prestigious contracts–such as those with Mumbai and Mangalore airports–underscores Harshdeep’s market strength. To support its long-term growth ambitions, the company expanded its manufacturing capabilities with the installation of new rotational and injection moulding machines, increasing total production capacity to 1,440 tonnes per year. This strategic investment is expected to enhance productivity, product quality, and operational efficiency while reinforcing the company’s commitment to sustainability and innovation.
Harshdeep Hortico IPO details
The ₹19 crore SME IPO was open for subscription from January 29 to January 31, 2024, with a price band of ₹42–45 per share. It comprised a completely fresh issue of 42.42 lakh shares, with no offer-for-sale component.
The offering saw overwhelming demand, being subscribed 131 times overall. Retail investors subscribed 98.25 times, non-institutional investors 181.95 times, and qualified institutional buyers (QIBs) 213 times, as per data from Chittorgarh.
Harshdeep Hortico specializes in designing, developing, manufacturing, and supplying a wide range of pots and planters, including plastic indoor and outdoor planters, illuminated, decorative, roto-moulded, and fibre-reinforced plastic (FRP) planters, as well as its Eco series. The company also offers related accessories such as garden hose pipes and watering cans. Recently, it has diversified into the production of roto-moulded outdoor furniture.
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