On 6 Nov 2026, Harsha Engineers International was priced at ₹457.15, or 26.9× trailing earnings, against an industry P/E of 22.6×. Sales and net profit grew 5.8% and 8.0% a year over 3 years, with ROCE of 14% and ROE of 12%. Debt is 0.27× equity, and its dividend yield is 0.3%. It is a small-cap company with a market cap of ₹4,162 Cr, ranked 8th of 31 Tools & Accessories companies by market cap; the shares rose 18% over the past year.
- ₹468.45
- ₹468.45
- ₹450.10
- ₹468.45
- 1.1 L
Health check
- ReturnsAhead
+17.9% over a year, better than 5 of 7 peers.
- Price tagPricier
P/E 26.9 vs industry 22.6.
- GrowthSteady
Sales +5.8%, profit +8.0% a year over 3 years.
- ProfitabilityWeak
ROCE 14.1% vs peer median 25.1%.
- Balance sheetFair
Debt 0.27× equity, interest covered 15.5×, Piotroski 5 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Defensive
Key metrics
- Market cap
- ₹4,162 Cr
- Small cap
- P/E
- 26.9
- Industry 22.6
- Price to book
- 2.97
- Peers 7.34
- Dividend yield
- 0.34%
- ROE
- 11.7%
- Peers 15.4%
- ROCE
- 14.1%
- Peers 25.1%
- Debt to equity
- 0.27
- Debt ₹372 Cr
- EPS (TTM)
- ₹16.99
- Face value ₹10
- OPM (TTM)
- 14.6%
- Net margin 9.0%
- Sales growth
- +25.2%
- Latest quarter vs a year ago
- Profit growth
- −1.5%
- Latest quarter vs a year ago
- Price to sales
- 2.42
- EV/EBITDA 16.3
Strengths and risks
Strengths
- Quarterly sales up 25.2% on a year ago.
- Positive operating cash flow in each of the last 4 years.
About Harsha Engineers International
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…
- Headquarters
- Ahmedabad
- Employees
- 1,745
- Sector
- Industrials
- ISIN
- INE0JUS01029
- Website
- harshaengineers.com
Price range
- Avg volume (3M)
- 1.7 L
- 1-year return
- plus 17.9%
- From 52-week high
- minus 5.7%
Peers · Tools & Accessories
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TIMKENTimken India | 3,057.80 | minus 2.14% | 23,000 | 50.7 | 35.4 | 18.5% | 18.5% | 0.00 | 7.5% | plus 2.4% |
| CARBORUNIVCarborundum Universal | 1,041.30 | minus 3.99% | 19,838 | 134.0 | 32.9 | 7.1% | 8.4% | 0.12 | 3.8% | plus 21.1% |
| SKFINDUSSKF India (Industrial) | 2,343.60 | minus 2.47% | 11,586 | 49.4 | – | – | 10.3% | 0.00 | – | minus 13.0% |
| KENNAMETKennametal India | 3,585.60 | minus 5.65% | 7,881 | 40.2 | 26.1 | 31.2% | 23.9% | 0.00 | 11.4% | plus 44.8% |
| ESABINDIAEsab India | 5,004.00 | minus 2.18% | 7,703 | 34.7 | 28.1 | 60.8% | 18.4% | 0.01 | 11.4% | plus 4.8% |
| SKFINDIASKF India | 1,425.60 | plus 0.37% | 7,048 | 45.3 | 14.4 | 31.7% | 11.1% | 0.00 | −4.9% | minus 33.0% |
| TIILTechnocraft Industries (India) | 2,726.40 | minus 1.58% | 6,182 | 18.2 | 13.7 | 19.1% | 18.5% | 0.40 | 12.2% | plus 14.3% |
| HARSHAHarsha Engineers International | 457.15 | minus 2.41% | 4,162 | 26.9 | 17.7 | 14.1% | 14.6% | 0.27 | 5.8% | plus 17.9% |
| Median of 7 peers | – | −2.18% | 7,881 | 45.3 | 27.1 | 25.1% | 18.4% | 0.00 | 9.4% | 4.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 365 | 378 | 409 | 474 | 457 | |
| 310 | 325 | 352 | 401 | 390 | |
| 55.4 | 53.5 | 57.3 | 73.4 | 67.5 | |
| 15.2% | 14.1% | 14.0% | 15.5% | 14.7% | |
| 11.1 | 10.5 | 6.8 | 10.5 | 5.2 | |
| 2.6 | 3.1 | 4.8 | 5.8 | 5.8 | |
| 10.5 | 11.3 | 12 | 12.8 | 13.8 | |
| −0.3 | −0 | 0 | 0.1 | – | |
| 53.1 | 49.6 | 47.2 | 65.4 | 53 | |
| 28.5% | 26.5% | 28.9% | 27.8% | 29.5% | |
| 37.9 | 36.4 | 33.6 | 47.2 | 37.4 | |
| 4.17 | 4.00 | 3.69 | 5.19 | 4.11 |
Profit & loss
- Sales CAGR 3Y
- +5.8%
- Profit CAGR 3Y
- +8.0%
- EPS CAGR 3Y
- +5.3%
- ROE
- 11.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,364 | 1,382 | 1,399 | 1,617 | |
| – | +1.3% | +1.2% | +15.6% | |
| 1,175 | 1,208 | 1,203 | 1,377 | |
| 189 | 174 | 196 | 240 | |
| 13.9% | 12.6% | 14.0% | 14.8% | |
| 26.6 | 17.2 | −5.5 | 22.1 | |
| 15.8 | 9.7 | 7.8 | 14.9 | |
| 36.1 | 39.3 | 40.5 | 46.7 | |
| 3.2 | 8.9 | −6.1 | 14.6 | |
| 167 | 151 | 136 | 215 | |
| 26.2% | 26.1% | 34.2% | 27.9% | |
| 123 | 111 | 89.3 | 155 | |
| – | minus 9.6% | minus 19.9% | +73.8% | |
| 14.59 | 12.24 | 9.81 | 17.05 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 91 | 91 | 91 | 91 | |
| 981 | 1,084 | 1,163 | 1,311 | |
| 182 | 177 | 200 | 372 | |
| 191 | 215 | 236 | 293 | |
| 1,445 | 1,567 | 1,691 | 2,067 | |
| 333 | 381 | 568 | 652 | |
| 19.3 | 36.1 | 199 | 37.3 | |
| 33.1 | 38 | 43.3 | 227 | |
| 287 | 293 | 334 | 290 | |
| 773 | 819 | 546 | 860 | |
| 1,445 | 1,567 | 1,691 | 2,067 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 137 | 136 | 206 | 68.5 | |
| −312 | −158 | −212 | −197 | |
| 216 | −25.4 | 5.9 | 146 | |
| 41 | −47.4 | 0.5 | 17.6 | |
| −74.4 | −74.5 | −209 | −120 | |
| 62.6 | 61.3 | −3 | −51.5 | |
| – | −9.1 | −9.1 | −9.1 |
Shareholding pattern
- Promoters75.00%
- Public25.00%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 75.00% | 25.00% | 0.00 | |
| 30 Jun 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Mar 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Dec 2025 | 75.00% | 25.00% | 0.00 | |
| 30 Sep 2025 | 75.00% | 25.00% | – |
Major shareholders
Filings & events
News
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