Harsha Engineers International Limited

BSE: HARSHA543600ISIN INE0JUS01029

Industrials
Other Industrial Products
BSE 1000

Share price

₹461.30+21.30 (+4.84%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹484.45
52W low: ₹311.05
Off 52W high: -4.78%
1M return: -0.27%
3M return: +9.69%
6M return: +17.48%
1Y return: +15.61%
20D avg volume: 5,198
50 DMA: ₹444.97
200 DMA: ₹405.37

Key ratios Consolidated

Market cap: ₹4,200 Cr
Current price: ₹461.30
52W high / low: ₹484.45 / ₹311.05
Face value: ₹10.00
P/E: 25.73
P/B: 2.83
EPS (TTM): ₹17.93
Book value / share: ₹163.23
ROE: —
ROCE: 14.20%
Operating margin: —
Net margin: —
Debt / equity: 0.26
Net debt: ₹337.74 Cr
Interest cover: 14.24
Dividend yield: 0.33%
Dividend / share (TTM): ₹1.50
Payout: 8.37%
Cash conversion cycle: 130.0 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	440.09	457.43	473.91	409.25	378.34	365.29	372.97	338.94	352.58	343.16	380.40	324.45
	6.96	5.13	10.54	6.79	10.45	10.73	11.03	6.72	12.08	7.90	7.75	11.09
	447.05	462.56	484.45	416.04	388.79	376.02	384.00	345.66	364.66	351.06	388.15	335.54
	385.71	409.59	419.06	368.81	339.22	322.96	349.13	308.38	323.75	300.76	338.67	297.56
	233.94	242.38	268.17	208.07	202.78	196.82	188.69	182.49	180.98	176.67	218.63	185.92
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	60.70	59.15	53.74	57.86	52.71	50.69	45.59	44.13	45.44	46.39	42.87	41.31
	6.14	5.83	5.80	4.84	3.05	2.57	1.46	2.13	2.62	2.56	2.83	2.84
	14.24	13.78	12.76	12.03	11.34	10.53	9.86	10.08	10.39	10.21	9.98	10.02
	91.95	90.77	88.59	83.12	79.05	72.37	90.42	69.71	77.99	74.36	70.33	67.99
	61.34	52.97	65.39	47.23	49.57	53.06	34.87	37.28	40.91	50.30	49.48	37.98
	0.13	0.00	0.00	0.00	0.00	0.00	-27.68	0.00	0.00	0.00	0.00	0.00
	61.47	52.97	65.39	47.23	49.57	53.06	7.19	37.28	40.91	50.30	49.48	37.98
	16.44	15.62	18.16	13.63	13.13	15.13	9.58	10.59	11.95	14.25	12.70	8.30
	45.03	37.38	47.23	33.60	36.44	37.93	-2.39	26.69	28.96	36.05	36.78	29.68
	4.95	4.11	5.19	3.69	4.00	4.17	-0.26	2.93	3.18	3.96	4.04	3.26
Key metrics
	81.85	72.58	83.95	64.10	63.96	66.16	18.51	49.49	53.92	63.07	62.29	50.84
	18.60%	15.90%	17.70%	15.70%	16.90%	18.10%	5.00%	14.60%	15.30%	18.40%	16.40%	15.70%
	10.20%	8.20%	10.00%	8.20%	9.60%	10.40%	-0.60%	7.90%	8.20%	10.50%	9.70%	9.10%
	3.90%	—	4.40%	—	3.50%	—	0.60%	—	—	—	—	—
	16.30%	25.20%	27.10%	20.70%	7.30%	6.40%	-2.00%	4.50%	—	—	—	—
	23.60%	-1.50%	2,076.20%	25.90%	25.80%	5.20%	-106.50%	-10.10%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23
Income statement
	1,781	1,627	1,408	1,392	1,364
	29.42	38.51	37.73	29.49	29.79
	1,810	1,665	1,445	1,422	1,394
	1,583	1,450	1,282	1,271	1,227
	952.56	875.84	728.83	779.05	735.14
	0.00	0.00	0.00	—	—
	231.45	215.00	181.55	169.05	156.19
	22.61	16.26	8.77	10.77	15.84
	52.81	46.66	40.54	39.32	36.12
	354.43	323.13	312.48	274.66	282.67
	226.93	215.25	163.36	150.75	167.12
	0.13	0.00	-27.68	0.00	0.00
	227.06	215.25	135.68	150.75	167.12
	63.85	60.05	46.37	39.32	43.84
	163.24	155.20	89.31	111.43	123.28
	17.94	17.05	9.81	12.24	14.59
Key metrics
	302.48	278.17	184.99	200.84	219.08
	16.99%	17.10%	13.10%	14.40%	16.10%
	9.17%	9.50%	6.30%	8.00%	9.00%
	—	14.20%	10.50%	—	—
	22.34%	15.60%	1.10%	2.10%	—
	65.44%	73.80%	-19.90%	-9.60%	—
	—	-51.54	-3.00	—	—
	—	0.44	2.31	—	—
	—	0.26	0.16	—	—
	—	337.74	183.05	—	—
	—	130.0	126.9	—	—
Balance sheet
	—	2,067	1,691	—	—
	—	1,136	1,008	—	—
	—	33.09	15.46	—	—
	—	377.96	301.98	—	—
	—	393.98	333.86	—	—
	—	59.46	33.73	—	—
	—	615.17	369.10	—	—
	—	192.66	146.73	—	—
	—	437.55	314.24	—	—
	—	370.83	198.51	—	—
	—	169.69	103.69	—	—
	—	201.14	94.82	—	—
	—	1,402	1,254	—	—
Cash flow
	—	68.49	206.34	—	—
	—	-197.19	-211.79	—	—
	—	146.33	5.91	—	—
	—	120.03	209.34	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	302.47	316.28	355.85	322.31	278.76	271.28	290.99	268.04	271.97	258.30	297.53	258.84
	7.48	6.90	9.73	6.00	10.23	12.03	10.50	7.94	11.29	8.21	7.36	10.88
	309.95	323.18	365.58	328.31	288.99	283.31	301.49	275.98	283.26	266.51	304.89	269.72
	244.12	262.01	294.38	272.38	236.59	225.77	264.02	234.46	239.22	214.76	254.81	229.81
	150.28	159.10	191.33	157.06	143.61	140.03	147.28	137.11	138.34	128.41	174.54	144.35
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	35.31	35.81	31.74	39.78	34.15	33.88	31.49	30.22	31.41	31.70	29.43	29.22
	0.50	0.72	0.55	0.85	0.53	0.66	0.47	1.22	1.29	1.52	1.69	1.68
	7.92	7.79	7.46	7.54	7.59	7.35	7.13	7.26	7.23	7.05	6.92	6.84
	55.93	56.00	63.58	57.69	55.60	51.88	73.15	51.65	57.60	54.81	51.76	51.66
	65.83	61.17	71.20	55.93	52.40	57.54	37.47	41.52	44.04	51.75	50.08	39.91
	0.00	0.00	0.00	0.00	0.00	0.00	-95.01	—	—	—	—	—
	65.83	61.17	71.20	55.93	52.40	57.54	-57.54	41.52	44.04	51.75	50.08	39.91
	16.47	15.49	18.03	14.24	13.37	14.63	9.42	10.53	11.27	13.19	12.49	9.94
	49.36	45.68	53.17	41.69	39.03	42.91	-66.96	30.99	32.77	38.56	37.59	29.97
	5.42	5.02	5.84	4.58	4.29	4.71	-7.35	3.40	3.60	4.24	4.13	3.29
Key metrics
	74.25	69.68	79.21	64.32	60.52	65.55	-49.94	50.00	52.56	60.32	58.69	48.43
	24.50%	22.00%	22.30%	20.00%	21.70%	24.20%	-17.20%	18.70%	19.30%	23.40%	19.70%	18.70%
	16.30%	14.40%	14.90%	12.90%	14.00%	15.80%	-23.00%	11.60%	12.00%	14.90%	12.60%	11.60%
	4.30%	—	4.90%	—	3.90%	—	-4.40%	—	—	—	—	—
	8.50%	16.60%	22.30%	20.20%	2.50%	5.00%	-2.20%	3.60%	—	—	—	—
	26.50%	6.50%	179.40%	34.50%	19.10%	11.30%	-278.10%	3.40%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23
Income statement
	1,297	1,228	1,089	1,081	1,025
	30.11	37.99	37.94	30.48	31.63
	1,327	1,266	1,127	1,111	1,056
	1,073	1,029	952.46	943.77	884.05
	657.77	632.03	551.14	600.92	531.02
	0.00	0.00	0.00	—	—
	142.64	139.55	124.82	118.14	109.04
	2.62	2.59	4.50	6.33	11.91
	30.71	29.94	28.67	26.85	23.31
	233.20	228.75	237.21	204.38	199.61
	254.13	237.07	174.78	167.65	172.30
	0.00	0.00	-95.01	—	—
	254.13	237.07	79.77	167.65	172.30
	64.23	60.27	44.41	40.74	43.91
	189.90	176.80	35.36	126.91	128.39
	20.86	19.42	3.88	13.94	15.19
Key metrics
	287.46	269.60	112.94	200.83	207.52
	22.16%	22.00%	10.40%	18.60%	20.30%
	14.64%	14.40%	3.20%	11.70%	12.50%
	—	16.40%	6.50%	—	—
	16.94%	12.80%	0.80%	5.50%	—
	313.10%	400.00%	-72.10%	-1.20%	—
	—	100.16	142.49	—	—
	—	0.74	5.94	—	—
	—	0.03	0.02	—	—
	—	27.01	14.46	—	—
	—	126.0	133.0	—	—
Balance sheet
	—	1,702	1,486	—	—
	—	876.15	857.96	—	—
	—	17.03	7.82	—	—
	—	285.57	242.99	—	—
	—	286.02	271.54	—	—
	—	32.25	15.01	—	—
	—	288.59	263.53	—	—
	—	147.77	117.48	—	—
	—	239.14	182.71	—	—
	—	44.04	22.28	—	—
	—	43.12	21.17	—	—
	—	0.92	1.11	—	—
	—	1,430	1,269	—	—
Cash flow
	—	131.67	210.05	—	—
	—	-131.90	-120.66	—	—
	—	9.44	-91.71	—	—
	—	31.51	67.56	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +6.22%
Sales CAGR 5Y: —
Profit CAGR 3Y: +11.25%
Profit CAGR 5Y: —
Sales YoY (TTM): +16.94%
Profit YoY (TTM): +313.10%

Consolidated

Sales CAGR 3Y: +6.05%
Sales CAGR 5Y: —
Profit CAGR 3Y: +7.98%
Profit CAGR 5Y: —
Sales YoY (TTM): +22.34%
Profit YoY (TTM): +65.44%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 75.00%

Holder	Type	Holding	Previous	Change
Shah Rajendra Shantilal	Promoter	13.19%	—	—
Harish Rangwala	Promoter	12.31%	—	—
Rangwala Charusheela Harish	Promoter Group	11.47%	—	—
Vishal Harish Rangwala	Promoter	8.53%	—	—
Pilak Rajendra Shah	Promoter	8.01%	—	—
DSP Small Cap Fund	Public	7.68%	—	—
Shah Nirmala Rajendra	Promoter Group	6.73%	—	—
Tanvi Vishal Rangwala	Promoter Group	4.99%	—	—
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund	Public	4.54%	—	—
Hetal Manish Naik	Promoter Group	3.73%	—	—
Mili Mehta Family Trust - ( Trustee - Rajendra Shah and Nirmala Shah )	Promoter Group	3.73%	—	—
Shah Vaishali Pilak	Promoter Group	2.11%	—	—
Icici Prudential Esg Exclusionary Strategy Fund	Public	1.45%	—	—
Munjal Rangwala Family Trust-( Trustee - Harish Rangwala)	Promoter Group	0.10%	—	—
Vishal Rangwala Family Trust - ( Trustee - Charusheela Rangwala)	Promoter Group	0.10%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
HBL ENGINEERING LIMITED	23,187	836.50	43.20	45.90%	—	—	-15.86%
INOX India Limited	17,557	1,930.95	67.38	30.80%	+22.53% TTM	+5.98% TTM	+59.26%
Esab India Ltd. S	8,206	5,330.95	36.98	60.80%	+12.99% TTM	+29.07% TTM	+9.05%
KRN HEAT EXCHANGER AND REFRIGERATION LIMITED	6,620	1,011.40	57.55	18.00%	+77.18% TTM	+94.83% TTM	+27.68%
Harsha Engineers International Limited	4,200	461.30	25.73	14.20%	+22.34% TTM	+65.44% TTM	+15.61%
Subros Ltd.	3,881	594.85	22.79	16.70%	+21.25% TTM	+5.94% TTM	-42.91%
Ador Welding Ltd.	2,462	1,414.95	21.32	20.30%	+12.93% TTM	+111.66% TTM	+31.10%
Diffusion Engineers Limited	1,568	419.05	27.32	15.70%	+38.32% TTM	+34.51% TTM	+12.53%
MIC Electronics Limited	1,085	36.43	-89.18	10.00%	+132.72% TTM	-227.43% TTM	-30.96%
Hy-Tech Engineers Limited	768	81.02	—	—	+17.36% FY26	+15.14% FY26	—
Technocrats Plasma Systems Limited S	715	406.20	—	—	+166.03% FY26	+84.22% FY26	—
MALLCOM (INDIA) LTD.	570	912.80	21.29	14.80%	+3.91% TTM	-54.47% TTM	-36.70%
Simplex Castings Ltd. S	527	128.45	22.54	26.20%	+15.32% TTM	+28.04% TTM	+32.38%
Sealmatic India Limited	523	481.70	—	12.10%	—	—	+23.38%
EXPO ENGINEERING AND PROJECTS LIMITED S	228	88.00	191.30	14.20%	-34.54% TTM	-70.94% TTM	+12.12%
QUEST FLOW CONTROLS LIMITED	184	179.70	—	0.40%	—	—	-26.97%
ALPHALOGIC INDUSTRIES LIMITED S	133	131.00	21.69	26.00%	—	—	+20.52%
W.H. Brady & Co. Ltd.	122	476.80	18.49	8.20%	-9.14% TTM	-71.81% TTM	-34.79%
Narmadesh Brass Industries Limited S	100	323.00	271.43	9.80%	—	—	—
MAURIA UDYOG LIMITED	82	6.18	3.71	39.10%	-13.01% TTM	+6.43% TTM	-52.72%
Siyaram Recycling Industries Limited S	75	34.44	22.36	11.20%	—	—	-63.07%
Indian Link Chain Mnfrs. Ltd. S	61	229.40	-201.23	-0.90%	-100.00% TTM	-321.43% TTM	-87.52%
DELTA MANUFACTURING LIMITED	60	55.33	-5.70	22.80%	+3.75% TTM	+7.22% TTM	-25.73%
Gabriel Pet Straps Limited	47	63.18	—	4.90%	—	—	-78.87%
Storage Technologies and Automation Limited	45	34.84	—	-6.10%	—	—	-51.11%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Newspaper Publication - Q2FY20274 Nov 2026 · Company Update / Newspaper Publication
Investor Presentation Q2FY20273 Nov 2026 · Company Update / Investor Presentation
Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 20263 Nov 2026 · Result / Financial Results
Unaudited Standalone Financial Results and Consolidated Financial Results for the quarter and half year ended September 30, 20263 Nov 2026 · Board Meeting / Outcome of Board Meeting
Earning Call Intimation Q2 FY 202726 Oct 2026 · Company Update / Analyst / Investor Meet
Harsha Engineers International Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 03/11/2026 ,inter alia, to consider and approve the Unaudited ....17 Oct 2026 · Board Meeting / Board Meeting
Compliance Certificate under Reg 74(5) of SEBI (DP) Regulations 2018 for the quarter ended 30 September 20266 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Grant of 4,28,000 Employee Stock Options under ESOP 202626 Sep 2026 · Company Update / General
Intimation of Schedule of Analyst/ Investor Meet on 30th September 202625 Sep 2026 · Company Update / Analyst / Investor Meet
Closure of Trading Window23 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Change in Senior Management20 Aug 2026 · Company Update / Change in Management
Earning Call Transcript Q1FY202717 Aug 2026 · Company Update / Earnings Call Transcript
Newspaper Publication Q1FY202712 Aug 2026 · Company Update / Newspaper Publication
Audio Recording Q1FY202711 Aug 2026 · Company Update / Analyst / Investor Meet
Investor Presentation Q1FY202711 Aug 2026 · Company Update / Investor Presentation
Unaudited Standalone Financial Results and Consolidated Financial Results for the quarter ended June 30, 202611 Aug 2026 · Result / Financial Results
Unaudited Standalone Financial Results and Consolidated Financial Results for the quarter ended June 30, 202611 Aug 2026 · Board Meeting / Outcome of Board Meeting
Investor/Analyst Meet on 14th August 202610 Aug 2026 · Company Update / Analyst / Investor Meet
Earning Call Intimation Q1 FY 20273 Aug 2026 · Company Update / Analyst / Investor Meet
Harsha Engineers International Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/08/2026 ,inter alia, to consider and approve Unaudited Results ....3 Aug 2026 · Board Meeting / Board Meeting
Retirement of Senior Management of the Company1 Aug 2026 · Company Update / Change in Management
Voting Results along with Scrutinizer Report27 Jul 2026 · AGM/EGM / AGM
Appointment of Statutory Auditor23 Jul 2026 · Company Update / Appointment of Statutory Auditor/s
Proceeding of the 16th AGM23 Jul 2026 · AGM/EGM / AGM
Certificate under Reg 74(5) of SEBI ( DP) Regulations, 20187 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Notice of the 16th AGM of the Company30 Jun 2026 · Company Update / Newspaper Publication
Business Responsibility and Sustainability Reporting FY 202629 Jun 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Annual Report of the Company for the FY 202629 Jun 2026 · Others / Reg. 34 (1) Annual Report
Notice of the 16th AGM along with Annual Report of the Company for the FY 2025-2629 Jun 2026 · AGM/EGM / AGM
Intimation of Closure of Trading Window Closure for the quarter ended 30th June 202624 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Communication to Shareholders1 Jun 2026 · Company Update / General
Capital Investment by M/s Harsha Engineers Advantek Limited, Wholly Owned Subsidiary of the Company.28 May 2026 · Company Update / General
Earning Call Transcript Q4FY202612 May 2026 · Company Update / Earnings Call Transcript
Newspaper Publication - Q4FY20268 May 2026 · Company Update / Newspaper Publication
Audio Recording Link of the earning call Q4FY20267 May 2026 · Company Update / Analyst / Investor Meet
Presentation on the Audited Financial Results of the Company for the quarter and year ended 31st March 20267 May 2026 · Company Update / Investor Presentation
We wish to inform you that the 16th AGM of the Company will be held on Thursday 23rd July 20267 May 2026 · AGM/EGM / AGM
It is hereby informed that Register of Members and Share Transfer Books of the Company will remail closed from 17th July 2026 to 23rd July 2026 ( Both Days Inclusive)7 May 2026 · Corp. Action / Book Closure
It is hereby informed that 9th July 2026 has been fixed as the Record date for the purpose of Dividend and AGM7 May 2026 · Corp. Action / Record Date
Re-appointment of Independent Directors of the Company s.t approval of the shareholders of the company7 May 2026 · Company Update / Change in Directorate

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 1.5000	9 Jul 2026	9 Jul 2026	—
Final Dividend - Rs. - 1.0000	29 Aug 2025	29 Aug 2025	—
Final Dividend - Rs. - 1.0000	9 Sep 2024	—	—

Board meetings

3 Nov 2026 Board Meeting - Financial Results
11 Aug 2026 Board Meeting - Financial Results