Harsha Engineers International Limited
₹414.60-₹10.05 (-2.4%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹3,495 Cr
- P/E
- 26.6x
- EV / EBITDA
- 17.2x
- Revenue
- ₹1,089 Cr
- Net margin
- 11.7%
- ROCE
- 12.6%
Price chart
Technical chartScreen technicals →+3.7% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -11.9%
- 3M
- +4.2%
- 6M
- +7.1%
- 1Y
- +3.7%
- 5Y
- -10.2%
52-week range
Day change -₹10.05 (-2.4%) from ₹425 to ₹415 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in HARSHA, bought on each weekday since 2022.
AI Summary
Indian StockStrengths1
- Strong 5-year net profit CAGR of 44.7%
Concerns1
- Net profit declined 72.4% year-over-year
Rule-based from financial data. Not advice.
About the company
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.
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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.
- Sector
- Industrials
- Shares outstanding
- 9.1 Cr shares
- ISIN
- INE0JUS01029
- BSE code
- 543600
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹3,495 Cr
- P/E
- 26.6x
- P/B
- 2.6x
- EV / EBITDA
- 17.2x
- EV / Sales
- 3.2x
- P/S
- 3.2x
- Earnings yield
- 3.8%
- 52-week high
- ₹473.75
- 52-week low
- ₹314.35
Profitability
- Operating margin
- 15.7%
- Net margin
- 11.7%
- EBITDA margin
- 18.5%
- ROE
- 10.2%
- ROCE
- 12.6%
- ROA
- 8.3%
- Dividend payout
- 7.0%
- Tax rate
- 24.0%
- Other income, % of PBT
- 17.9%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,089 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 0.7%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 12.5%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹200 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -3.4%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -72.4%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 44.7%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹124 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 4.2%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹2.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 12.8%
Solvency and efficiency
- Current ratio
- 7.03
- Debt / Equity
- 0.08
- Debt / Assets
- 0.07
- Debt / EBITDA
- 0.51
- Interest coverage
- 28.33
- Financial leverage
- 1.23
- CFO / Net profit
- 0.98
- Cash / Market cap
- 21.7%
- Cash per share
- ₹83.39
- Asset turnover
- 0.71
- Fixed asset turnover
- 4.31
- Capital intensity
- 0.23
- Debtor days
- 91 days
- Inventory turnover
- 2.03
- Cash conversion cycle
- 204 days
Where the revenue went
FY2025 ended in a loss, so the lines are listed rather than drawn as a flow.
| Line | FY2025 |
|---|---|
| Sales | ₹1,089 Cr |
| Expenses | ₹919 Cr |
| Operating profit | ₹170 Cr |
| Other income | -₹57 Cr |
| Interest | ₹4 Cr |
| Depreciation | ₹29 Cr |
| Profit before tax | ₹80 Cr |
| Tax and other | ₹45 Cr |
| Net profit | ₹35 Cr |
Revenue and net profit
Revenue grew 0.7% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹582 Cr | ₹38 Cr |
| FY2022 | ₹956 Cr | ₹106 Cr |
| FY2023 | ₹1,025 Cr | ₹128 Cr |
| FY2024 | ₹1,081 Cr | ₹127 Cr |
| FY2025 | ₹1,089 Cr | ₹35 Cr |
Cash flows
FY2025: ₹210 Cr from operations, ₹89.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹103 Cr | ₹103 Cr |
| FY2022 | ₹51 Cr | -₹24 Cr |
| FY2023 | ₹119 Cr | -₹187 Cr |
| FY2024 | ₹124 Cr | -₹38 Cr |
| FY2025 | ₹210 Cr | ₹89 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,089 Cr+0.7%1Y
- Net profit
- ₹35 Cr-72.4%1Y
- Cash from operations
- ₹210 Cr
- Free cash flow
- ₹89 Cr
- Revenue CAGR, 5Y
- 12.5%
- EBITDA CAGR, 5Y
- 20.1%
- Net profit CAGR, 5Y
- 44.7%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,089 Cr | ₹170 Cr | — | ₹35 Cr | ₹210 Cr | ₹89 Cr | 2.8% | +0.7% | -72.4% |
Monthly returns
Month-by-month returns of HARSHA across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,486 Cr |
| Equity capital | ₹91 Cr |
| Reserves | ₹1,178 Cr |
| Borrowings | ₹24 Cr |
| Other liabilities | ₹192 Cr |
| Assets | ₹1,486 Cr |
| Fixed assets | ₹264 Cr |
| Capital work in progress | ₹32 Cr |
| Investments | ₹541 Cr |
| Other assets | ₹650 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
HARSHA trades at 26.6x earnings against a peer median of 38.3x (a 30% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Harsha Engineers International LimitedHARSHAthis companyP/E ↓ discount | ₹3,495 Cr | 26.6x | 2.6x | 10.2% | 17.2x |
| WPIL LtdWPIL | ₹3,707 Cr | 33.6x | 4.1x | 18.7% | 16.0x |
| Bondada Engineering LimitedBONDADA | ₹3,690 Cr | 24.2x | 7.3x | 26.1% | 58.3x |
| Websol Energy System LimitedWEBELSOLAR | ₹3,606 Cr | 17.7x | 9.2x | -112.0% | -34.0x |
| Interarch Building Solutions LimitedINTERARCH | ₹3,477 Cr | 27.3x | 4.3x | 19.4% | 25.4x |
| Ramky Infrastructure LimitedRAMKY | ₹3,459 Cr | 16.9x | 2.1x | 28.6% | 5.9x |
| Uflex LimitedUFLEX | ₹3,418 Cr | 16.4x | 1.0x | 5.3% | 7.5x |
| MSTC LimitedMSTCLTD | ₹3,346 Cr | 15.4x | 4.0x | 25.9% | 10.8x |
| PSP Projects LimitedPSPPROJECT | ₹3,278 Cr | 126.0x | 2.7x | 13.6% | 11.9x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
HARSHA since 1 January, against earlier years.
Historical volatility
HARSHA's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 16.0% |
| FY2022 | 17.0% |
| FY2023 | 17.0% |
| FY2024 | 16.0% |
| FY2025 | 16.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,089 Cr |
| Costs | |
| Interest | ₹4 Cr |
| Expenses | ₹919 Cr |
| Operating profitOperating Profit | ₹170 Cr |
| Other income and charges | |
| Profit before tax | ₹80 Cr |
| Tax | |
| Net profitNet Profit | ₹35 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,486 Cr |
| Equity capitalEquity Capital | ₹91 Cr |
| Reserves | ₹1,178 Cr |
| Borrowings | ₹24 Cr |
| Other liabilitiesOther Liabilities | ₹192 Cr |
| AssetsTotal Assets | ₹1,486 Cr |
| Fixed assetsFixed Assets | ₹264 Cr |
| Capital work in progressCWIP | ₹32 Cr |
| Investments | ₹541 Cr |
| Other assetsOther Assets | ₹650 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹210 Cr |
| Investing cash flowCash from Investing Activity | -₹121 Cr |
| Financing cash flowCash from Financing Activity | -₹92 Cr |
| Change in cashNet Cash Flow | -₹2 Cr |
Learn while you research
Academy chapters picked for Harsha Engineers International Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 04 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read