Heranba Industries tanks 20%, hits record low on weak Q3 results

The management said revenue impacted by challenging global macros including prolonged geopolitical concerns, rising inflation in major economies and slowdown in demand.

Shares of Heranba Industries hit a record low of Rs 372.85, as they tanked 20 per cent on the BSE in Monday’s intra-day trade after the company reported 73 per cent year-on-year (YoY) drop in its profit after tax (PAT) of Rs 14.4 crore in December quarter (Q3FY23), due to weak operational performance.

The stock of agrochemical company fell below its previous low of Rs 462.30, touched on January 27, 2023. With today’s decline, it has corrected 61 per cent from its record high level of Rs 945, hit on debut day i.e. March 5, 2021. Heranaba had issued