Harsha Engineers International Ltd

HARSHA

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Market Cap

₹ 3,368 Cr

P/E

28.83

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

SLUGGISH

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Harsha Engineers International Limited is a major manufacturer of precision bearing cages and components, catering to industries like automotive and industrial machinery.

The company has seen substantial export growth, with exports increasing by 27% on a quarter-over-quarter basis led by demand from Europe.

Despite facing operational challenges, Harsha Engineers Advantek is expected to become profitable within a year as demand and capacity utilization improve.

Harsha Romania has reported a positive top line growth by around 38% in Q2 FY2026, a significant recovery after several quarters of subdued performance.

The company developed 258 new SKUs in H1 FY2026, indicating strong R&D and product development momentum.

Sector

Auto Ancillaries

Industry

Auto Ancillaries - Others

Market Cap

3,368 Cr

Volatility

High Risk

P/E Ratio

28.8

Industry P/E

37.3

PEG Ratio

1.4

P/B Ratio

2.6

52W High

546.00

52W Low

330.00

Sales CAGR

1.10%

4.43%

12.65%

10Y

—

Profit CAGR

-19.85%

-30.66%

11.95%

10Y

—

ROE

TTM

8.88%

7.99%

9.31%

10Y

—

ROCE

TTM

11.25%

11.88%

13.67%

10Y

—

Technicals

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Forecasts

No. of Analysts

7

1Y Price Target

444.72 ▲ 19.71%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SANDHAR	559.70	3,370 Cr	19.58	2.74	0.63	14.15	12.89	5.43
HARSHA	369.95	3,368 Cr	28.83	2.56	0.27	8.88	11.25	5.27
CARRARO	541.60	3,081 Cr	31.05	6.25	0.84	20.14	22.75	8.40
RML	738.50	2,041 Cr	42.44	3.00	0.64	7.07	11.38	1.95
NDRAUTO	832.00	1,993 Cr	34.23	6.15	0.33	17.47	20.08	10.95
DIVGIITTS	592.00	1,811 Cr	59.80	2.98	0.44	4.98	6.82	4.39
TALBROAUTO	285.60	1,763 Cr	18.43	2.59	0.25	14.05	17.37	9.47

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	348	339	324	380	343	353	339	373	365	378
Expenses	306	304	285	326	288	311	296	338	310	325
Operating Profit	42	35	40	55	55	42	43	35	55	54
OPM %	12.02	10.38	12.25	14.34	16.08	11.87	12.62	9.43	15.17	14.14
Other Income	4.00	6.65	11	7.75	7.90	12	6.72	-17	11	10
Interest	2.62	2.48	2.84	2.83	2.56	2.62	2.13	1.46	2.57	3.05
Depreciation	9.56	9.76	10	9.98	10	10	10	9.86	11	11
Profit Before Tax	34	30	38	49	50	41	37	7.19	53	50
Tax %	26.93	31.23	21.85	25.67	28.33	29.21	28.41	133.24	28.51	26.49
Net Profit	25	20	30	37	36	29	27	-2.39	38	36
EPS in Rs	2.70	2.24	3.26	4.04	3.96	3.18	2.93	-0.26	4.17	4.00

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	886	874	1,321	1,364	1,392	1,408	1,430
Expenses	800	752	1,152	1,175	1,221	1,233	1,255
Operating Profit	86	122	169	189	171	175	175
OPM %	9.71	13.94	12.79	13.88	12.31	12.43	12.25
Other Income	14	2.98	18	30	29	10	13
Interest	33	30	25	16	11	8.77	8.78
Depreciation	35	34	35	36	39	41	41
Profit Before Tax	32	61	127	167	151	136	138
Tax %	30.63	25.17	27.39	26.23	26.08	34.18	34.13
Net Profit	22	45	92	123	111	89	91
EPS in Rs	—	—	—	14.10	12.24	9.81	10.84
Dividend Payout %	0.00	0.00	0.00	6.85	8.17	10.19	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	50	50	77	91	91	91
Reserves	322	377	445	981	1,084	1,163
Borrowings	419	357	385	182	177	200
Other Liabilities	182	197	252	191	215	236
Total Liabilities	973	981	1,158	1,445	1,567	1,691
Fixed Assets	334	342	356	387	418	414
CWIP	3.39	3.34	2.10	12	15	161
Investments	6.61	9.28	6.47	194	234	305
Other Assets	629	626	794	853	900	810
Total Assets	973	981	1,158	1,445	1,567	1,691

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	113	121	36	137	136	206
Cash from Investing Activity	-51	-20	-52	-312	-158	-212
Cash from Financing Activity	-38	-92	3.73	216	-25	5.91
Net Cash Flow	24	8.77	-12	41	-47	0.46

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	74.61%	74.61%	74.61%	74.61%	74.61%	74.61%	74.61%	74.61%	74.61%	74.61%	74.72%	75.00%
FIIs	4.07%	3.75%	1.82%	1.86%	1.61%	1.61%	0.76%	0.56%	0.58%	0.54%	0.88%	0.39%
DIIs	11.06%	11.37%	10.01%	9.19%	8.14%	7.43%	8.69%	8.85%	8.72%	8.65%	11.85%	12.47%
Public	10.26%	10.27%	13.57%	14.34%	15.64%	16.35%	15.94%	15.99%	16.09%	16.21%	12.54%	12.13%
Total Shareholders	1,32,892	1,22,843	1,05,011	99,274	96,528	91,107	78,307	79,500	77,771	77,352	78,464	74,886

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jun 11, 2025	Mansi share & stock advisors ...	Bulk	Sell	413.08	0.04 Cr	936	0.00
Jun 11, 2025	Mansi share & stock advisors ...	Bulk	Buy	415.01	24.88 Cr	5,99,512	0.65
Jun 11, 2025	Plutus wealth management llp	Bulk	Sell	415.09	103.77 Cr	25,00,000	2.74
Jun 11, 2025	Mansi share and stock advisor...	Bulk	Buy	414.22	2.27 Cr	54,853	0.06
Jun 11, 2025	Dsp mutual fund	Bulk	Buy	415.00	57.42 Cr	13,83,538	1.51
Jun 11, 2025	Mansi share and stock advisor...	Bulk	Sell	401.51	26.24 Cr	6,53,425	0.71
May 29, 2025	Dsp mutual fund	Bulk	Buy	383.00	17.77 Cr	4,64,000	0.50
Apr 25, 2024	American funds insurance seri...	Bulk	Sell	410.06	39.81 Cr	9,70,777	1.06
Apr 25, 2024	Plutus wealth management llp	Bulk	Buy	410.01	29.92 Cr	7,29,669	0.80
Jun 23, 2023	Plutus wealth management llp	Bulk	Buy	435.00	69.80 Cr	16,04,532	1.76

Projection

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

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Q2 FY25

Investor Presentation

Q1 FY25

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Q4 FY24

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Q3 FY24

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Oscillators

BearishNeutralBullish

Bullish

Bearish

Auto Ancillaries

Industry

Auto Ancillaries - Others

Market Cap

3,368 Cr

Volatility

High Risk

P/E Ratio

28.8

Industry P/E

37.3

PEG Ratio

1.4

P/B Ratio

2.6

52W High

546.00

52W Low

330.00

Sales CAGR

1.10%

4.43%

12.65%

10Y

—

Profit CAGR

-19.85%

-30.66%

11.95%

10Y

—

ROE

TTM

8.88%

7.99%

9.31%

10Y

—

ROCE

TTM

11.25%

11.88%

13.67%

10Y

—

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SANDHAR	559.70	3,370 Cr	19.58	2.74	0.63	14.15	12.89	5.43
HARSHA	369.95	3,368 Cr	28.83	2.56	0.27	8.88	11.25	5.27
CARRARO	541.60	3,081 Cr	31.05	6.25	0.84	20.14	22.75	8.40
RML	738.50	2,041 Cr	42.44	3.00	0.64	7.07	11.38	1.95
NDRAUTO	832.00	1,993 Cr	34.23	6.15	0.33	17.47	20.08	10.95
DIVGIITTS	592.00	1,811 Cr	59.80	2.98	0.44	4.98	6.82	4.39
TALBROAUTO	285.60	1,763 Cr	18.43	2.59	0.25	14.05	17.37	9.47