Harsha Engineers International Limited HARSHA NSEINFRA

Industrials · Tools & Accessories · India

https://www.harshaengineers.com

Harsha Engineers International Limited engages in the manufacture and sale of precision bearing cages and high precision engineered components in India and internationally. It operates through Engineering & Others, and Solar-EPC and O&M segments. The Engineering & Others segment engages in the design, tooling, development, manufacture, procurement, sale, and servicing of bearing cages and stamp components. The Solar-EPC and O&M segment is involved in the engineering, design, development, procurement, construction, erection, installation, commissioning, operation, and maintenance of solar power projects. It also offers brass, steel, and polyamide cages. Its products are used in automotive, industrial, wind, railway, and aerospace components. The company was formerly known as Harsha Engineers International Private Limited and changed its name to Harsha Engineers International Limited in January 2022. Harsha Engineers International Limited was founded in 1986 and is based in Ahmedabad, India.

Market & Price

Market Cap

₹3,615.82 Cr

Current Price

₹397.15

High / Low (52W)

₹438.75 / ₹314.25

Beta

0.60

Valuation

Stock P/E

23.31

Industry PE

27.78

Forward P/E

16.57

PEG Ratio

Book Value

₹144.29

Price to Book

2.75

P/S

2.37

EV/EBITDA

20.32

Dividend Yield

0.34%

Profitability & Returns

ROCE

14.21%

ROE

ROA

Profit Margin

6.92%

Op Margin

11.06%

EPS (Latest Qtr)

₹5.19

EPS (TTM)

₹17.04

Balance Sheet & Liquidity

Debt/Equity

0.24

Quick Ratio

Current Ratio

Debt

₹317.07 Cr

Total Assets

₹2,066.88 Cr

Current Assets

₹1,136.33 Cr

Working Capital

₹698.78 Cr

Ownership

Promoter Holding

76.98%

Chg in Prom Hold

FII / Inst Holding

12.56%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹4,034.78 Cr

Total Revenue (TTM)

₹1,525.85 Cr

EBITDA

₹198.61 Cr

Free Cash Flow

Operating Cash Flow

Shares Outstanding

₹9.10 Cr

Gross Margin

47.30%

Payout Ratio

8.62%

Growth (CAGR)

Revenue 5Y

6.05%

Profit 5Y

7.98%

Revenue (YoY)

20.70%

Earnings (YoY)

25.90%

PROS

No notable strengths flagged.

CONS

In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	HARSHA Harsha Engineers International Limited NSEINFRA	397.15	23.31	₹3,615.82 Cr	0.34%	14.21%	-	6.05%	7.98%
2	LT Larsen & Toubro Limited NIFTY50NSEAIINFRA	4,076.50	34.84	₹5.61 L Cr	0.93%	14.55%	16.95%	16.09%	15.38%
3	ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA	1,804.60	30.96	₹4.16 L Cr	0.42%	11.02%	15.59%	22.93%	34.11%
4	HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU	4,303.80	31.55	₹2.88 L Cr	1.16%	13.80%	23.98%	7.87%	16.08%
5	POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA	38,445.00	172.41	₹1.71 L Cr	0.02%	24.92%	21.04%	22.24%	119.12%
6	INDIGO InterGlobe Aviation Limited NSEINFRA	4,405.00	-	₹1.70 L Cr	0.24%	15.53%	-	44.12%	72.60%
7	CUMMINSIND Cummins India Limited NSEINFRA	5,881.00	68.97	₹1.63 L Cr	1.12%	34.95%	29.45%	16.07%	24.35%
8	CGPOWER CG Power and Industrial Solutions Limited NSEINFRA	917.45	118.99	₹1.44 L Cr	0.14%	19.35%	19.56%	21.67%	7.81%
9	POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA	9,477.50	53.48	₹1.43 L Cr	0.37%	30.44%	24.58%	26.57%	28.11%

Quarterly Results

Figures in INR.

Metric	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	372.97 Cr	365.29 Cr	378.34 Cr	409.25 Cr	473.91 Cr
Cost of Revenue	201.80 Cr	186.80 Cr	193.07 Cr	210.96 Cr	258.17 Cr
Gross Profit	171.17 Cr	178.49 Cr	185.27 Cr	198.29 Cr	215.74 Cr
Operating Expenses	125.88 Cr	133.25 Cr	143.08 Cr	153.00 Cr	155.15 Cr
Operating Income	45.29 Cr	45.24 Cr	42.19 Cr	45.29 Cr	60.59 Cr
EBITDA	18.51 Cr	66.16 Cr	63.96 Cr	64.10 Cr	83.95 Cr
Interest Expense	1.46 Cr	2.57 Cr	3.05 Cr	4.84 Cr	5.80 Cr
Pretax Income	7.19 Cr	53.06 Cr	49.57 Cr	47.23 Cr	65.39 Cr
Tax Provision	9.58 Cr	15.13 Cr	13.13 Cr	13.63 Cr	18.16 Cr
Net Income	-2.39 Cr	37.93 Cr	36.44 Cr	33.60 Cr	47.23 Cr
Diluted EPS	-0.26	4.17	4.00	3.69	5.19

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	1,364.02 Cr	1,381.99 Cr	1,407.65 Cr	1,626.79 Cr
Cost of Revenue	-	735.87 Cr	910.73 Cr	738.68 Cr	849.00 Cr
Gross Profit	-	628.15 Cr	471.26 Cr	668.97 Cr	777.79 Cr
Operating Expenses	-	474.98 Cr	336.91 Cr	513.97 Cr	584.48 Cr
Operating Income	-	153.17 Cr	134.35 Cr	155.00 Cr	193.31 Cr
EBITDA	-	219.08 Cr	199.77 Cr	184.99 Cr	278.17 Cr
Interest Expense	-	15.84 Cr	9.70 Cr	8.77 Cr	16.26 Cr
Pretax Income	-	167.12 Cr	150.75 Cr	135.68 Cr	215.25 Cr
Tax Provision	-	43.84 Cr	39.32 Cr	46.37 Cr	60.05 Cr
Net Income	-	123.28 Cr	111.43 Cr	89.31 Cr	155.20 Cr
Diluted EPS	-	14.59	12.24	9.80	17.05

Compounded Sales Growth

5 Years:	6.05%
1 Year:	20.70%

Compounded Profit Growth

5 Years:	7.98%
1 Year:	25.90%

Stock Price Performance

1 Year:	+4.97%
6 Months:	-0.81%
3 Months:	+7.58%
1 Month:	+0.88%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	1,445.14 Cr	1,566.60 Cr	1,691.06 Cr	2,066.88 Cr
Current Assets	-	997.64 Cr	1,063.58 Cr	1,007.97 Cr	1,136.33 Cr
Cash & Equivalents	-	62.44 Cr	15.00 Cr	15.46 Cr	33.09 Cr
Inventory	-	376.88 Cr	353.66 Cr	333.86 Cr	393.98 Cr
Receivables	-	282.68 Cr	319.55 Cr	302.59 Cr	377.96 Cr
Total Liabilities	-	373.37 Cr	391.32 Cr	436.92 Cr	665.19 Cr
Current Liabilities	-	343.54 Cr	365.19 Cr	314.24 Cr	437.55 Cr
Long Term Debt	-	7.91 Cr	2.94 Cr	94.82 Cr	201.14 Cr
Total Debt	-	182.19 Cr	176.67 Cr	200.46 Cr	372.16 Cr
Total Equity	-	1,071.77 Cr	1,175.28 Cr	1,254.14 Cr	1,401.69 Cr
Shares Outstanding	-	9.10 Cr	9.10 Cr	9.10 Cr	9.10 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	137.03 Cr	135.79 Cr	206.34 Cr	68.49 Cr
Investing Cash Flow	-	-311.74 Cr	-157.80 Cr	-211.79 Cr	-197.19 Cr
Financing Cash Flow	-	215.74 Cr	-25.43 Cr	5.91 Cr	146.33 Cr
Capital Expenditure	-	-74.39 Cr	-74.53 Cr	-209.34 Cr	-120.03 Cr
Free Cash Flow	-	62.64 Cr	61.26 Cr	-3.00 Cr	-51.54 Cr
Net Change in Cash	-	41.03 Cr	-47.44 Cr	46.00 L	17.63 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	46.1%	34.1%	47.5%	47.8%
Operating Margin %	-	11.2%	9.7%	11.0%	11.9%
Net Margin %	-	9.0%	8.1%	6.3%	9.5%
ROE %	-	11.5%	9.5%	7.1%	11.1%
ROCE %	-	13.9%	11.2%	11.3%	11.9%

Shareholding Pattern

Insiders

76.98%

Institutions

12.56%

Public Float

54.56%

Analyst View

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HARSHA · Industrials