Harsha Engineers International Ltd. (IN:HARSHA)
:HARSHA
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Harsha Engineers International Ltd.
(HARSHA)
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Rating:64Neutral
Price Target:
₹374.00
▼(-5.39% Downside)
Action:ReiteratedDate:10/24/25
The overall stock score of 64 reflects strong financial performance and balance sheet strength, which are offset by negative free cash flow and overvaluation concerns. The technical analysis indicates a lack of clear momentum, further contributing to a moderate score.
Positive Factors
Strong balance sheet / low leverage
A 74% equity ratio and D/E of 0.16 materially reduce financial risk and interest exposure, giving the company durable resilience to economic cycles. This capital structure supports funding organic growth, absorbing revenue volatility, and preserving creditor and supplier confidence over the medium term.
Negative Factors
Negative free cash flow from capex
Negative free cash flow driven by heavy capex weakens internal funding for growth and increases reliance on external financing or equity to support expansion. Over several quarters, persistent negative FCF can tighten liquidity, constrain flexibility for dividends or buybacks, and raise refinancing risk despite solid operating cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet / low leverage
A 74% equity ratio and D/E of 0.16 materially reduce financial risk and interest exposure, giving the company durable resilience to economic cycles. This capital structure supports funding organic growth, absorbing revenue volatility, and preserving creditor and supplier confidence over the medium term.
Read all positive factors
Harsha Engineers International Ltd. (HARSHA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹31.83B
Dividend Yield0.27%
Average Volume (3M)3.02K
Price to Earnings (P/E)25.4
Beta (1Y)1.28
Revenue Growth3.92%
EPS Growth-24.95%
CountryIN
Employees1,731
SectorIndustrials
Sector Strength72
IndustryManufacturing - Tools & Accessories
Share Statistics
EPS (TTM)4.00
Shares Outstanding91,044,106
10 Day Avg. Volume1,712
30 Day Avg. Volume3,020
Financial Highlights & Ratios
PEG Ratio-1.93
Price to Book (P/B)2.73
Price to Sales (P/S)2.43
P/FCF Ratio-1.14K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)19.35
Revenue Forecast (FY)₹17.30B
Harsha Engineers International Ltd. Business Overview & Revenue Model
Company Description
Harsha Engineers International Limited manufactures and sells brass cages, steel cages, polyamide precision bearing cages, and stamped components in India and internationally. The company offers cylindrical roller, spherical roller, deep grove, an...
How the Company Makes Money
HARSHA makes money primarily by manufacturing and selling precision bearing components—most notably bearing cages—to bearing manufacturers and other industrial customers. Revenue is generated through (1) sales of precision components (typically pr...
Harsha Engineers International Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
65
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.56B | 14.08B | 13.92B | 13.64B | 13.10B | 8.64B |
| Gross Profit | 6.92B | 6.69B | 6.05B | 6.28B | 4.40B | 3.55B |
| EBITDA | 1.98B | 1.75B | 2.01B | 2.19B | 1.87B | 1.25B |
| Net Income | 986.70M | 893.10M | 1.11B | 1.23B | 919.50M | 454.39M |
Balance Sheet | ||||||
| Total Assets | 18.72B | 16.91B | 15.67B | 14.45B | 11.58B | 9.81B |
| Cash, Cash Equivalents and Short-Term Investments | 2.83B | 3.18B | 3.18B | 2.87B | 347.08M | 438.47M |
| Total Debt | 3.17B | 2.00B | 1.77B | 1.82B | 3.85B | 3.57B |
| Total Liabilities | 5.58B | 4.37B | 3.91B | 3.73B | 6.36B | 5.54B |
| Stockholders Equity | 13.14B | 12.54B | 11.75B | 10.72B | 5.22B | 4.27B |
Cash Flow | ||||||
| Free Cash Flow | -864.50M | -30.00M | 653.30M | 562.60M | -130.55M | 813.68M |
| Operating Cash Flow | -180.30M | 2.06B | 1.40B | 1.33B | 364.74M | 1.21B |
| Investing Cash Flow | -810.70M | -2.12B | -1.73B | -3.08B | -518.30M | -199.60M |
| Financing Cash Flow | 1.03B | 59.10M | -146.60M | 2.16B | 37.26M | -924.28M |
Harsha Engineers International Ltd. Technical Analysis
Neutral
395.30
Price Trends
361.24
Negative
372.30
Negative
388.20
Negative
Market Momentum
-5.76
Negative
52.32
Neutral
87.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HARSHA, the sentiment is Neutral. The current price of 395.3 is above the 20-day moving average (MA) of 339.52, above the 50-day MA of 361.24, and above the 200-day MA of 388.20, indicating a neutral trend. The MACD of -5.76 indicates Negative momentum. The RSI at 52.32 is Neutral, neither overbought nor oversold. The STOCH value of 87.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:HARSHA.
Harsha Engineers International Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹259.57B | 103.51 | ― | 1.18% | 4.81% | 15.08% | |
64 Neutral | ₹31.83B | 25.44 | ― | 0.27% | 3.92% | -24.95% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | ₹78.52B | 36.90 | ― | 0.39% | 6.65% | -4.29% | |
59 Neutral | ₹13.40B | 130.82 | ― | 0.62% | ― | ― | |
54 Neutral | ₹96.31B | 174.30 | ― | 0.38% | -4.73% | -19.52% | |
38 Underperform | ₹714.56M | -2.06 | ― | ― | ― | ― |
* Industrials Sector Average
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Harsha Engineers International Ltd. Corporate Events
Harsha Engineers Confirms SEBI-Compliant Dematerialisation for March Quarter
Apr 7, 2026
Harsha Engineers International Ltd. has filed a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The filing confirms that its registrar, MUFG Intime I...
Harsha Engineers Posts Investor Call Recording on December 2025 Results
Feb 5, 2026
Harsha Engineers International Limited has released the audio recording of its analysts and investors conference call discussing the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.