Harsha Engineers International
Harsha Engineers International Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Harsha Engineers International Ltd, framed against the sector median so the premium or discount is obvious at a glance.
Harsha Engineers International Ltd trades at a P/E of 23.61× and P/B of 2.61×.
Valuation
Profitability
Growth
Financial Health
Harsha Engineers International Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Harsha Engineers International Ltd, switchable between annual and quarterly views, consolidated or standalone.
Harsha Engineers International Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹3,662.7 Cr and reported EPS of ₹17.05.
| Period | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue from Operations | 1,364 | 1,392 | 1,408 | 1,627 |
| Other Income | 30 | 29 | 38 | 39 |
| Total Income | 1,394 | 1,422 | 1,445 | 1,665 |
| Cost of Goods Sold (COGS) | 736 | 777 | 739 | 849 |
| Gross Profit | 628 | 615 | 669 | 778 |
| +Operating Expenses | 439 | 444 | 494 | 538 |
| EBITDA | 189 | 171 | 175 | 240 |
| +Non-Operating Expenses | 52 | 50 | 22 | 63 |
| Profit Before Tax (PBT) | 167 | 151 | 136 | 215 |
| +Tax Expense | 44 | 39 | 46 | 60 |
| Profit After Tax (PAT) | 123 | 111 | 89 | 155 |
| Earnings Per Share (EPS) | 13.54 | 12.24 | 9.81 | 17.05 |
| Diluted Shares Outstanding (Nos.) | 9 | 9 | 9 | 9 |
| +Additional Disclosures | 1,955 | 2,052 | 2,018 | 2,292 |
| Sales Growth % | — | 2.07 | 1.10 | 15.57 |
| YoY Sales Growth % | — | 2.07 | 1.10 | 15.57 |
| Material Cost % | 54 | 56 | 52 | 54 |
| Employee Cost % | 11 | 12 | 13 | 13 |
| Other Cost % | 21 | 20 | 22 | 20 |
| OPM % | 14 | 12 | 12 | 15 |
| Tax % | 26 | 26 | 34 | 28 |
| Profit Growth % | — | -9.61 | -19.85 | 73.78 |
| Gross Margin % | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 | 0.00 |
| Additional Fields | 153 | 132 | 134 | 193 |
Harsha Engineers International segment analysis: revenue and profit mix.
Disclosed business segments at Harsha Engineers International with their share of revenue and profit, switchable between consolidated and standalone reporting.
Harsha Engineers International discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Harsha Engineers International Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Harsha Engineers International Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Harsha Engineers International Ltd's investment case rests on 6 positive markers and 7 flagged concerns drawn from the latest reported filings.
What you're getting.
Harsha Engineers boasts a robust promoter holding of 75.00% as of September 2025, signaling strong insider confidence and commitment. This high ownership reduces takeover risks and aligns management interests with long-term shareholder value.
The company exhibits a healthy Return on Equity (ROE) of 8.75% and Return on Assets (ROA) of 6.53%. These metrics demonstrate efficient utilization of shareholder capital and effective asset management in generating profits.
Harsha Engineers recorded a positive quarterly sales growth of 6.45%, indicating potential for expansion. This growth is supported by a very low debt-to-equity ratio of 0.16, ensuring a manageable debt burden for future initiatives.
Operating within the Capital Goods sector, Harsha Engineers is well-positioned to capitalize on potential industry expansion driven by infrastructure development and increased industrial activity, fostering demand for its products.
The company's current PE ratio of 33.80 is lower than many peers, such as PTCIL (411.20) and HBL Engineering (81.87). This valuation gap could present an opportunity for market re-rating or strategic growth.
What can break it.
Harsha Engineers' stock has experienced significant volatility, ranging from a high of ₹560 to a low of ₹330 in the past year. This wide fluctuation presents considerable risk for investors seeking stable returns and requires careful monitoring.
Despite a 6.45% sales growth, the recent quarterly profit growth was only 5.21% (₹37.9 million). This relatively slow profit expansion compared to sales warrants further investigation into operational efficiency and profitability trends.
Foreign Institutional Investor (FII) holding has significantly decreased from 3.84% in September 2022 to 0.39% by September 2025. This consistent decline may signal reduced institutional confidence or shifting investment preferences.
The company reported a net loss of ₹2.00 million in the quarter ending March 2025, a concerning dip from previous positive profits. This negative performance requires immediate attention to underlying operational challenges.
Harsha Engineers faces stiff competition from peers, with some exhibiting significantly higher ROCE, such as Esab India (70.03%) and Inox India (37.98%), compared to Harsha's 12.10%. This could pressure margins and market position.
What would change my mind.
Trim if P/E re-rates above 31. The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 27.05. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 8%. The operating engine is no longer compounding capital efficiently.
Harsha Engineers International Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Harsha Engineers International Ltd is highlighted for quick read-across.
Quick Compare
Peer Comparison
Harsha Engineers International Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Harsha Engineers International Ltd — derived from the live tape, not yesterday's close.
Harsha Engineers International Ltd last traded at ₹402.5 with an intraday range of ₹397.55–₹408 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹402.50| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 428.72 | +26.22 | +6.51% |
| R3 | 418.27 | +15.77 | +3.92% |
| R2 | 413.13 | +10.63 | +2.64% |
| R1 | 407.82 | +5.32 | +1.32% |
| PIVOT | 402.68 | 0.18 | 0.05% |
| CURRENT | 402.50 | — | — |
| S1 | 376.47 | -26.03 | -6.47% |
| S2 | 386.92 | -15.58 | -3.87% |
| S3 | 392.23 | -10.27 | -2.55% |
| S4 | 397.37 | -5.13 | -1.28% |
HARSHA is trading Below CPR, indicating Bearishness
CPR is Narrower, suggesting likely for trending moves
Day's range: 399.4 ~ 403
Trading Inside opening range
Harsha Engineers International Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Harsha Engineers International Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Harsha Engineers International Ltd stood at 66.1% of traded volume, against a 20-day average of 56.0%.
Harsha Engineers International announcements: results, concalls, ratings, M&A.
Filings Harsha Engineers International sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Harsha Engineers International files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 95 documents below.
Capacity addition
Capital Investment by M/s Harsha Engineers Advantek Limited, Wholly Owned Subsidiary of the Company.
Disclosure under SEBI Takeover Regulations
Harsha Engineers International Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board…
Analysts/Institutional Investor Meet/Con. Call Updates
Harsha Engineers International Limited has informed the Exchange about Transcript
Disclosure under SEBI Takeover Regulations
Vishal Rangwala has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial…
Copy of Newspaper Publication
Harsha Engineers International Limited has informed the Exchange about Copy of Newspaper Publication - Q4FY2026
Investor decks & rating reports.
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Harsha Engineers International dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Harsha Engineers International has declared, sequenced by announce and record date.
Harsha Engineers International corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Harsha Engineers International Ltd: business, sector, key facts.
What Harsha Engineers International Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Harsha Engineers International Ltd operates in the Industrials, listed as NSE: HARSHA, BSE: 543600.
Harsha Engineers International Limited is a prominent Indian company specializing in the manufacturing and sale of high-precision bearing cages. Their primary focus lies in the design, development, production, and supply of these critical components for various industries globally. The company's expertise encompasses a wide range of materials, including brass, steel, and polyamide, catering to diverse application needs.
Harsha operates through two main segments: Engineering & Others and Solar-EPC and O&M. The Engineering & Others segment represents the core of their business, encompassing the design, tooling, manufacture, and procurement of bearing cages and other precision components like stamped parts, welded assemblies, brass castings, and bronze bushings. These components find applications across several sectors, including automotive, industrial machinery, wind energy, railway systems, and even aerospace.
The Solar-EPC and O&M segment marks a diversification into renewable energy. This division handles the complete lifecycle of solar power projects, from initial engineering and design through procurement, construction, installation, commissioning, operation, and ongoing maintenance. This demonstrates a strategic move by Harsha to expand beyond their core competency and tap into the burgeoning renewable energy market.
Harsha's strong foothold in the precision engineering sector, coupled with its foray into solar energy, positions the company for sustained growth and diversification. Their extensive experience and diverse product portfolio enable them to serve a broad client base across various industries, both domestically and internationally. The company's long history, beginning in 1986, speaks to its enduring success and adaptability within a competitive landscape.
Questions investors ask about Harsha Engineers International Ltd (HARSHA).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Harsha Engineers International Ltd (HARSHA)?
The current share price of Harsha Engineers International Ltd (HARSHA) is ₹402.5. Today, the stock has gained by ₹7.80 (1.98%), trading in a range of ₹397.55 to ₹408. The stock opened at ₹399.55 with a trading volume of 3,71,828 shares.
02Is Harsha Engineers International Ltd stock a good investment for long-term?
Harsha Engineers International Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹3,662.7 crores, P/E ratio of 23.61, ROE of 11.69%, and ROCE of 12.10%. The dividend yield stands at 0.38%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Harsha Engineers International Ltd stock?
The 52-week high price of Harsha Engineers International Ltd (HARSHA) is ₹0, while the 52-week low is ₹0. Currently trading at ₹402.5, the stock is Infinity% away from its 52-week low and -Infinity% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Harsha Engineers International Ltd stock at the current price?
Whether to buy Harsha Engineers International Ltd stock at ₹402.5 depends on multiple factors. The stock is currently trading with a P/E ratio of 23.61 and P/B ratio of 2.61. Today's performance shows a gain of 1.98%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Harsha Engineers International Ltd and when is the next dividend?
Harsha Engineers International Ltd offers a dividend yield of 0.38%, which means for every ₹100 invested at the current price of ₹402.5, you can expect to receive approximately ₹0.38 annually as dividends. The face value of the stock is ₹10.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Harsha Engineers International Ltd?
Harsha Engineers International Ltd's key financial metrics include: P/E Ratio: 23.61, P/B Ratio: 2.61, ROE: 11.69%, ROCE: 12.10%, Dividend Yield: 0.38%, EPS: ₹17.05, Book Value: ₹154.03, and Debt-to-Equity: 26.55. The company's market cap stands at ₹3,662.7 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Harsha Engineers International Ltd stock performing today in the market?
Harsha Engineers International Ltd stock opened at ₹399.55 and is currently trading at ₹402.5, showing a gain of ₹7.80 (1.98%). The intraday high is ₹408 and low is ₹397.55. The trading volume stands at 3,71,828 shares, indicating moderate market participation today.
08What is the P/E ratio of Harsha Engineers International Ltd and what does it indicate?
Harsha Engineers International Ltd has a Price-to-Earnings (P/E) ratio of 23.61, which means investors are willing to pay ₹23.61 for every ₹1 of earnings. With an EPS of ₹17.05, this P/E ratio indicates moderate valuation in line with market standards. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Harsha Engineers International Ltd (HARSHA) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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