Harsha Engineers International Limited has informed the Exchange about Transcript
HARSHA · price
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Harsha Engineers International reported strong FY26 results with consolidated Engineering revenue of INR1,444 crore (up ~14% YoY) and EBITDA of INR264 crore. Q4 standalone Engineering revenue was INR382 crore with EBITDA of INR77 crore. Solar business contributed INR183 crore revenue with PAT of INR10.2 crore. Key growth drivers include Bushing (INR127 crore, +25% YoY, targeting 25-30% growth in FY27), Large-size cages (INR49 crore, +14%), and stamping (INR60 crore). Export from India grew 17% YoY, aided by zero US tariffs on cages. Subsidiary Advantek posted INR11.5 crore loss due to high depreciation but expects 3x sales growth in FY27. Romania remains EBITDA negative with management targeting cage mix improvement from 22% to 30-35%. Capex guidance is INR30-40 crore maintenance in India plus INR70 crore for China brownfield expansion (expected H2 FY28). Management guided for double-digit overall growth and mid-teens India Engineering growth in FY27 with 100-200 bps EBITDA margin improvement over 2-3 years.
Harsha delivered robust FY26 with strong export momentum and clear margin improvement intent. The company has multiple growth levers (bushing, stamping, Japan/cage wallet share) but near-term macro headwinds and Romania turnaround remain watch items.