---
title: "Harsh Polymers(India) Ltd (514370) — Share Price, Financials & Analysis"
symbol: "514370"
company: "Harsh Polymers(India) Ltd"
canonical: "https://tapetide.com/stocks/514370"
bse_code: "514370"
sector: "Commodities"
industry: "Chemicals & Petrochemicals"
generated_at: "2026-09-13T18:34:52.346Z"
---

# Harsh Polymers(India) Ltd (514370)

Canonical page: https://tapetide.com/stocks/514370

## Company

- **BSE Code:** 514370
- **Sector:** Commodities
- **Industry:** Chemicals & Petrochemicals
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No

## About

Harsh Polymers(India) Limited,incorporated in India, listed on the Bombay Stock Exchange Limited,  the company is engaged in Polymer

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -28.7% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 50% | -31% | -6% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.01 | 0 | 0.01 | 0.02 | 0 | 0 | 0.02 | 0 | 0.01 | 0 | 0 | 0 |
| Operating Profit | -0.01 | 0 | -0.01 | -0.02 | 0 | 0 | -0.02 | 0 | -0.01 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0.01 | 0 | -0.01 | -0.02 | 0 | 0 | -0.02 | 0 | -0.01 | 0 | 0 | 0 |
| Tax % | 0 | — | 0 | 0 | — | — | 0 | — | 0 | — | — | — |
| Net Profit | -0.01 | 0 | -0.01 | -0.02 | 0 | 0 | -0.02 | 0 | -0.01 | 0 | 0 | 0 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.11 | 0.1 | 0.13 | 0.04 | 0.04 | 0.05 | 0.17 | 0.05 | 0.05 | 0.01 |
| Operating Profit | -0.11 | -0.1 | -0.13 | -0.04 | -0.04 | -0.05 | -0.17 | -0.05 | -0.05 | -0.01 |
| Other Income | 0.01 | 0.01 | 0.19 | 0 | 0 | 0.02 | -0.52 | 0 | 0 | 0 |
| Interest | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0.11 | -0.1 | 0.05 | -0.04 | -0.04 | -0.03 | -0.69 | -0.05 | -0.05 | -0.01 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | -0.11 | -0.1 | 0.05 | -0.04 | -0.04 | -0.03 | -0.69 | -0.05 | -0.05 | -0.01 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5.2 | 5.2 | 5.2 | 5.2 | 5.2 | 5.2 | 5.2 | 5.2 | 5.2 | 5.2 |
| Reserves | -4.02 | -4.13 | -4.23 | -4.18 | -4.22 | -4.26 | -4.29 | -4.98 | -5.03 | -5.08 |
| Borrowings | 0.69 | 0.71 | 0.75 | 0.58 | 0.63 | 0.67 | 0.73 | 0 | 0.01 | 0.04 |
| Other Liabilities | 0.01 | 0.01 | 0.02 | 0.03 | 0.03 | 0.03 | 0.03 | 0 | 0.02 | 0.05 |
| Total Liabilities | 1.88 | 1.79 | 1.74 | 1.63 | 1.64 | 1.64 | 1.67 | 0.22 | 0.2 | 0.21 |
| Fixed Assets | 1.5 | 1.46 | 1.45 | 1.34 | 1.35 | 1.35 | 1.38 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0.38 | 0.33 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.22 | 0.2 | 0.21 |
| Total Assets | 1.88 | 1.79 | 1.74 | 1.63 | 1.64 | 1.64 | 1.67 | 0.22 | 0.2 | 0.21 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.04 | -0.09 | -0.04 | -0.03 | -0.04 | -0.03 | -0.03 | -0.1 | -0.05 | -0.05 |
| Cash from Investing Activity | 0.01 | 0.06 | 0.01 | 0.2 | -0.01 | -0.01 | -0.02 | 0.85 | 0 | 0 |
| Cash from Financing Activity | 0.02 | 0.03 | 0.03 | -0.17 | 0.05 | 0.05 | 0.05 | -0.73 | 0.03 | 0.06 |
| Net Cash Flow | -0.01 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0.02 | -0.02 | 0.01 |
| Free Cash Flow | -0.04 | -0.04 | -0.04 | 0.16 | -0.05 | -0.04 | -0.05 | 0.75 | -0.05 | -0.05 |
| CFO/OP | 44 | 82 | 40 | 23 | 100 | 75 | 60 | 59 | 100 | 100 |

### Ratios

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ROCE % | -4.21 | -5.48 | -5.71 | -2.41 | -2.49 | -2.48 | -1.85 | -17.2 | -25 | -29.41 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Dec 2017 |
| --- | --- | --- |
| Promoters | 9.6% | 9.6% |
| DIIs | 0.01% | 0.01% |
| Public | 90.39% | 90.39% |
| No. of Shareholders | 32678 | 32677 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 9.6% | 9.6% | 9.6% | 9.6% | 9.6% | 9.6% | 9.6% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 90.39% | 90.39% | 90.39% | 90.39% | 90.39% | 90.39% | 90.39% |
| No. of Shareholders | 32681 | 32681 | 32678 | 32678 | 32677 | 32677 | 32677 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 6 / 5 / 8

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1191.26 | Buy |
| EMA (10) | 1195.58 | Buy |
| SMA (20) | 1193.5 | Buy |
| EMA (20) | 1209.15 | Sell |
| SMA (50) | 1269.09 | Sell |
| EMA (50) | 1252.82 | Sell |
| SMA (100) | 1311.36 | Sell |
| EMA (100) | 1297.13 | Sell |
| SMA (200) | 1365.85 | Sell |
| EMA (200) | 1356.71 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 46.18 | Neutral |
| MACD (12,26,9) | -22.1 | Buy |
| Stochastic (14,3,3) | 62.13 | Neutral |
| ADX (14) | 26.08 | Buy |
| Williams %R (14) | -38.4 | Neutral |
| ATR (14) | 34.95 | Neutral |
| ROC (12) | 0.97 | Buy |
| Stoch RSI (14) | 85.42 | Sell |
| UO (7,14,28) | 50.44 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 October 2025 - Avi Ansh Textile Limited has informed about Certificate under SEBI (Depositories and Participants) Regulations, 2018 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 October 2025 - Avi Ansh Textile Limited has informed about Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/AVIANSH_08102025183425_intimation_Certificate_Reg_74_5_.pdf) |
| 6 March 2026 - Appointed Mr. Subodh Gupta as Senior Management Personnel effective March 06, 2026; 28 years textile experience. | [Appointment 6 March 2026 - Appointed Mr. Subodh Gupta as Senior Management Personnel effective March 06, 2026; 28 years textile experience.](https://nsearchives.nseindia.com/corporate/AVIANSH_06032026180638_Intimation_SMP.pdf) |
| 5 January 2026 - Submitted RTA certificate dated Jan 02, 2026 for quarter ended Dec 31, 2025 under Regulation 74(5). | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 5 January 2026 - Submitted RTA certificate dated Jan 02, 2026 for quarter ended Dec 31, 2025 under Regulation 74(5).](https://nsearchives.nseindia.com/corporate/AVIANSH_05012026174902_Intimation_Certificate_Reg_74_5__Dec_2025.pdf) |
| 11 November 2025 - Unaudited H1 results to Sept 30,2025: revenue Rs63.07 crore, PAT Rs0.63 crore; IPO proceeds mostly utilized, ₹9.47 lakh outstanding. | [Outcome of Board Meeting 11 November 2025 - Unaudited H1 results to Sept 30,2025: revenue Rs63.07 crore, PAT Rs0.63 crore; IPO proceeds mostly utilized, ₹9.47 lakh outstanding.](https://nsearchives.nseindia.com/corporate/AVIANSH_11112025173039_Outcome_of_Board_meeting.pdf) |
| 11 November 2025 - Statutory auditor certifies ₹2,599.04 lakh IPO proceeds utilization; ₹9.47 lakh unutilized; repayment planned December 2025. | [Utilisation of Funds 11 November 2025 - Statutory auditor certifies ₹2,599.04 lakh IPO proceeds utilization; ₹9.47 lakh unutilized; repayment planned December 2025.](https://nsearchives.nseindia.com/corporate/AVIANSH_11112025173631_covering_utilization_of_issue_proceeds.pdf) |
| 11 November 2025 - Half-year Sept 30, 2025 Reg 32 statement: IPO proceeds Rs25.99 crore; no deviation in utilisation. | [Statement of deviation(s) or variation(s) under Reg. 32 11 November 2025 - Half-year Sept 30, 2025 Reg 32 statement: IPO proceeds Rs25.99 crore; no deviation in utilisation.](https://nsearchives.nseindia.com/corporate/AVIANSH_11112025174705_Intimation_Statement_of_Deviation.pdf) |
| — | [Financial Result For The First Quarter Ended On 30Th June, 2017 8 Feb 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5522a756-cc67-43b4-b50b-83d3be300a6b.PDF) |
| — | [Financial Result For The Quarter And Half Year Ended On 30Th September, 2017 8 Feb 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2ba3e4d6-cffc-469d-a1a9-94f60f1a7437.pdf) |
| — | [Financial Result For Quarter Ended 31St December,2017 8 Feb 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ffbb7c0c-990f-4c53-b6a4-33627e808687.PDF) |
| — | [Financial Result For The First Quarter Ended On 30Th June, 2017 8 Feb 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/2/5522a756-cc67-43b4-b50b-83d3be300a6b.PDF) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27768_AVIANSH_2024_2025_A_6652942_27082025180039.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:34:52.346Z.