On June 16, Heranba Industries shares surged 5% as the company protected seven Central Insecticide Board registrations in May 2023.

At 10:07 am, the stock was trading at Rs 404.90, up 3.05%, on the BSE. The share was trading with volumes of 11,125 shares so far, as associated with its five-day average of 42,984 shares, indicating a decline of 74%.

The company expended Rs 41 crore on capital expenditure at their Sarigam facility during the first half of FY23 and will outlay a further Rs 100 crore in the second half of FY23. The commercial manufacture of technical grade pesticides and mediates from the Sarigam facility is expected to originate from Q1FY24, totalling a meaningful contribution to the firm’s overall revenues.

The management imagines the domestic agrochemical industry in the second half of FY23 amid outstanding moisture retaining to the late withdrawal of the southwest monsoon, advanced reservoir levels and an increase in the minimum selling price of Rabi crops for the future 2023-2024 season.

The agrochemical firm manufactures Synthetic Pyrethroids, and it arbitrates in India. It has 4 manufacturing facilities across India and a varied business network in India and across the globe.

The Gujarat Pollution Control Board recently withdrew its closure order for the company’s facilities in Vapi.
Some analysts are optimistic about Heranba Industries, as the business has a varied product range, robust margins, a strong balance sheet, volume expansion and further opportunities from off-patent goods in vastly regulated markets.