🧵 From PET Bottles to Penny Stock: Harish Textile’s Loopy Tale
Date of Publishing -
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At a Glance
Harish Textile Engineers Ltd is a micro-cap company making textile processing machinery, polyester staple fiber (recycled from PET bottles), and some niche non-woven fabric products. The stock is up from its ₹48 lows to ₹66, but FY25 saw a red flag audit, qualified opinions, debenture defaults, and a liquidity crunch. Should we call this sustainable innovation or textile turbulence?
1. 🎬 Intro: Promoter Holding Down, P/E Up – This Microcap Is Confusing AF
₹22 Cr market cap company with a P/E of 91.7. Yes, 91.
Promoters once held 65.9%, now down to 48.1%. Exit route? You decide.
Sales? Up just 9.56% over 5 years. Not exactly compounding brilliance.
FY25 audit note? 👇 “Liquidity crunch. Rights issue cancelled. Negative working capital. Debenture default.” Basically, Textile Titanic meets creative compliance.
2. 🧺 WTF Do They Even Do?
Harish Textile’s product bouquet:
Textile Machinery – Sells finishing, drying, and coating machinery across India + exports to 25 countries (including UK).
Regenerated Polyester Staple Fiber (RPSF) – Made from recycled PET bottles. ESG bros, assemble!
Non-woven Fabrics – Supplies for hygiene, filtration, and auto interiors.
Side Hustle – Trading in non-ferrous metals. Because why not?
They operate 3 segments but act like 13. Diversified? Maybe. Diluted? Definitely.
