Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 339 | 324 | 380 | 343 | 353 | 339 | 373 | 365 | 378 | 409 | 474 | 457 |
| Expenses | 304 | 285 | 326 | 288 | 311 | 296 | 338 | 310 | 325 | 352 | 400 | 390 |
| Operating Profit | 35 | 40 | 55 | 55 | 42 | 43 | 35 | 55 | 54 | 57 | 73 | 67 |
| OPM % | 10% | 12% | 14% | 16% | 12% | 13% | 9% | 15% | 14% | 14% | 15% | 15% |
| Other Income | 7 | 11 | 8 | 8 | 12 | 7 | -17 | 11 | 10 | 7 | 11 | 5 |
| Interest | 2 | 3 | 3 | 3 | 3 | 2 | 1 | 3 | 3 | 5 | 6 | 6 |
| Depreciation | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 | 12 | 13 | 14 |
| Profit before tax | 30 | 38 | 49 | 50 | 41 | 37 | 7 | 53 | 50 | 47 | 65 | 53 |
| Tax % | 31% | 22% | 26% | 28% | 29% | 28% | 133% | 29% | 26% | 29% | 28% | 29% |
| Net Profit | 20 | 30 | 37 | 36 | 29 | 27 | -2 | 38 | 36 | 34 | 47 | 37 |
| EPS in Rs | 2.24 | 3.26 | 4.04 | 3.96 | 3.18 | 2.93 | -0.26 | 4.17 | 4.00 | 3.69 | 5.19 | 4.11 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 886 | 874 | 1,321 | 1,364 | 1,392 | 1,408 | 1,627 | 1,719 |
| Expenses | 799 | 752 | 1,152 | 1,174 | 1,221 | 1,233 | 1,387 | 1,467 |
| Operating Profit | 86 | 122 | 169 | 190 | 171 | 175 | 240 | 252 |
| OPM % | 10% | 14% | 13% | 14% | 12% | 12% | 15% | 15% |
| Other Income | 13 | 3 | 17 | 29 | 30 | 10 | 38 | 33 |
| Interest | 33 | 30 | 25 | 16 | 11 | 9 | 16 | 20 |
| Depreciation | 35 | 34 | 35 | 36 | 39 | 41 | 47 | 50 |
| Profit before tax | 32 | 61 | 127 | 167 | 151 | 136 | 215 | 215 |
| Tax % | 31% | 25% | 27% | 26% | 26% | 34% | 28% | |
| Net Profit | 22 | 45 | 92 | 123 | 111 | 89 | 155 | 155 |
| EPS in Rs | 4.38 | 9.09 | 11.90 | 13.54 | 12.24 | 9.81 | 17.05 | 16.99 |
| Dividend Payout % | 0% | 0% | 0% | 7% | 8% | 10% | 9% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 13% | 6% | 20% | ||
| Compounded Profit Growth | % | 25% | 4% | 42% | ||
| Stock Price CAGR | % | % | 4% | 16% | ||
| Return on Equity | % | 12% | 10% | 11% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 50 | 50 | 77 | 91 | 91 | 91 | 91 |
| Reserves | 322 | 377 | 445 | 981 | 1,084 | 1,163 | 1,311 |
| Borrowings | 419 | 357 | 385 | 182 | 177 | 200 | 372 |
| Other Liabilities | 197 | 197 | 252 | 191 | 215 | 236 | 293 |
| Total Liabilities | 988 | 981 | 1,158 | 1,445 | 1,567 | 1,691 | 2,067 |
| Fixed Assets | 334 | 342 | 356 | 387 | 418 | 414 | 660 |
| CWIP | 3 | 3 | 2 | 12 | 15 | 161 | 19 |
| Investments | 7 | 9 | 6 | 194 | 234 | 305 | 473 |
| Other Assets | 644 | 626 | 794 | 853 | 900 | 810 | 915 |
| Total Assets | 988 | 981 | 1,158 | 1,445 | 1,567 | 1,691 | 2,067 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 113 | 121 | 36 | 137 | 136 | 206 | 68 |
| Cash from Investing Activity | -51 | -20 | -52 | -312 | -158 | -212 | -197 |
| Cash from Financing Activity | -38 | -92 | 4 | 216 | -25 | 6 | 146 |
| Net Cash Flow | 24 | 9 | -12 | 41 | -47 | 0 | 18 |
| Free Cash Flow | 40 | 81 | -13 | 63 | 62 | -2 | -47 |
| CFO/OP | 146% | 100% | 40% | 92% | 101% | 141% | 54% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 98 | 89 | 78 | 75 | 84 | 78 | 85 |
| Inventory Days | 185 | 235 | 185 | 187 | 166 | 165 | 169 |
| Days Payable | 89 | 103 | 90 | 58 | 62 | 77 | 83 |
| Cash Conversion Cycle | 194 | 222 | 173 | 204 | 187 | 166 | 171 |
| Working Capital Days | 33 | 55 | 71 | 96 | 100 | 97 | 91 |
| ROCE % | 12% | 18% | 17% | 12% | 12% | 13% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 74.61% | 74.61% | 74.61% | 74.61% | 74.61% | 74.61% | 74.61% | 74.72% | 75.00% | 75.00% | 75.00% | 75.00% |
| FIIs | 1.86% | 1.61% | 1.61% | 0.76% | 0.56% | 0.58% | 0.54% | 0.88% | 0.39% | 0.41% | 2.37% | 1.79% |
| DIIs | 9.19% | 8.14% | 7.43% | 8.69% | 8.85% | 8.72% | 8.64% | 11.86% | 12.48% | 12.42% | 12.42% | 13.02% |
| Public | 14.33% | 15.62% | 16.36% | 15.92% | 15.98% | 16.08% | 16.21% | 12.55% | 12.13% | 12.16% | 10.21% | 10.19% |
| No. of Shareholders | 99,274 | 96,528 | 91,107 | 78,307 | 79,500 | 77,771 | 77,352 | 78,464 | 74,886 | 72,688 | 70,615 | 68,521 |
Fundamentals
Market Cap₹ 4,234 Cr.
Current Price₹ 465
Stock P/E27.4
Book Value₹ 154
ROCE13.0 %
ROE10.5 %
Dividend Yield0.32 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)20%
Compounded Profit Growth (TTM)42%
Consolidated figures.
Valuation
Market capRs 4,320 Cr
Enterprise valueRs 4,369 Cr
P/E (TTM)27.93x
Price to book4.03x
Price to sales2.51x
EV / EBITDA15.35x
EV / EBIT18.61x
EV / sales2.54x
Price to cash flow31.53x
Earnings yield3.58%
Dividend yield0.21%
P/E, 3-year average24.74x
P/B, 3-year average2.85x
Profitability
Operating margin (excl. other income)13.91%
Operating margin (incl. other income)16.06%
EBITDA margin16.56%
Pre-tax margin12.52%
Net profit margin9.00%
Net margin, latest quarter8.17%
ROE15.47%
ROCE16.94%
ROA9.47%
ROE, 3-year average15.41%
ROCE, 3-year average15.45%
ROA, 3-year average7.56%
ROIC (approx.)15.45%
Tax rate26.23%
Other income / net worth2.74%
Growth
Sales growth (latest year)3.22%
Profit growth (latest year)34.07%
Sales CAGR, 3 years15.47%
Profit CAGR, 3 years77.86%
Sales growth QoQ-3.48%
Profit growth QoQ-20.86%
Sales growth YoY (latest quarter)25.22%
Profit growth YoY (latest quarter)-1.45%
Per share
EPS (TTM)Rs 16.99
EPS (latest year)Rs 13.54
EPS (latest quarter)Rs 4.11
EPS, 3-year averageRs 11.51
Book value per shareRs 117.72
Sales per shareRs 188.80
Cash flow per shareRs 15.05
Free cash flow per shareRs -5.16
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 1.00
Dividends
Dividend payout7.38%
Dividend payout, 3-year average7.38%
Efficiency
Asset turnover0.94x
Fixed asset turnover3.53x
Inventory turnover2.47x
Inventory days148 days
Debtor days75 days
Debtors turnover4.87x
Creditor days83 days
Cash conversion cycle171 days
Working capital days91 days
Leverage
Total debtRs 182 Cr
Cash and bankRs 134 Cr
Net debtRs 49 Cr
Debt to equity0.17x
Net debt / EBITDA0.17x
Interest coverage12.02x
Current ratio (filing 2026-03-31)2.60x
Quick ratio (filing 2026-03-31)1.70x
Trade payables (filing 2026-03-31)Rs 193 Cr
Owners' fund to total sources74.16%
Debt to assets12.61%
Cash flow
Cash from Operating Activity (latest year)Rs 137 Cr
Cash from Investing Activity (latest year)Rs -312 Cr
Cash from Financing Activity (latest year)Rs 216 Cr
Net Cash Flow (latest year)Rs 41 Cr
Free cash flow (latest year)Rs -47 Cr
FCFE (approx.: FCF + change in debt)Rs -250 Cr
Cash from ops / profit, 5 years1.02x
Sales to cash flow9.95x
Statement figures
Net sales (TTM)Rs 1,719 Cr
Net sales (latest year)Rs 1,364 Cr
Sales (latest quarter)Rs 457 Cr
Operating profit excl. other income (latest year)Rs 190 Cr
Operating profit (latest quarter)Rs 67 Cr
Other income (TTM)Rs 33 Cr
EBITDA (TTM)Rs 285 Cr
PBDT (TTM)Rs 265 Cr
Profit before tax (TTM)Rs 215 Cr
Tax (latest year)Rs 44 Cr
Net profit (TTM)Rs 155 Cr
Net profit (latest year)Rs 123 Cr
Net profit (latest quarter)Rs 37 Cr
Depreciation (TTM)Rs 50 Cr
Depreciation (latest quarter)Rs 14 Cr
Interest (TTM)Rs 20 Cr
Cost of goods sold (latest year)Rs 930 Cr
Total expenditure (latest year)Rs 1,174 Cr
Total income (latest year)Rs 1,393 Cr
Share capitalRs 91 Cr
ReservesRs 981 Cr
Shareholders' fundsRs 1,072 Cr
Total assetsRs 1,445 Cr
Net blockRs 387 Cr
Capital work in progressRs 12 Cr
InvestmentsRs 194 Cr
ReceivablesRs 280 Cr
InventoryRs 377 Cr
Other liabilitiesRs 191 Cr
Shares outstanding (crore)9.10
Ownership
Promoter holding75.00% (+0.28 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 27.9 is at the 20th percentile of its own 3.4-year range
(median 43.2, low 23.3, high 202.3).
P/B 4.03 is at the 10th percentile (median 8.42).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | HARSHA | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +3.7% | -2.8% | +6.5 pts |
| 1 month | +4.6% | -6.8% | +11.4 pts |
| 3 months | +13.6% | -7.6% | +21.3 pts |
| 6 months | +51.0% | +0.4% | +50.6 pts |
| 1 year | +16.0% | -9.9% | +25.9 pts |
| 2 years | -6.1% | -13.6% | +7.5 pts |
| 3 years | +13.1% | +14.2% | -1.0 pts |
10 mutual fund schemes hold about ₹573 Cr.
Over three months 4 bought more and 4 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| DSP Small Cap Fund | 1.47% | 319 | -13% |
| Nippon India Small Cap Fund | 0.23% | 189 | -9% |
| iSIF Equity Ex-Top 100 Long-Short Fund | 0.84% | 21 | -1% |
| ICICI Pru ESG Exclusionary Strategy Fund | 1.35% | 18 | +100% |
| ICICI Pru Children's Fund | 0.75% | 11 | +45% |
| ICICI Pru Exports & Services Fund | 0.41% | 6 | -9% |
| ICICI Pru Exports & Services Fund | 0.41% | 6 | -9% |
| ICICI Pru Balanced Hybrid Fund | 1.03% | 2 | +100% |
| ICICI Pru Manufacturing Fund | 0.01% | 1 | +100% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 |
Red flags
F-score 6 of 8| explain | Share dilution Share count up 18% in a year, 82% in three |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹457 Cr +25.2% vs Jun 2025.
Net profit ₹37 Cr -2.6%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| HBL Engineering Ltd | 22,406 | 28.0 | 59.3 % |
| Inox India Ltd | 18,792 | 73.1 | 33.5 % |
| KRN Heat Exchanger and Refrigeration Ltd | 9,446 | 97.4 | 16.1 % |
| Esab India Ltd | 8,482 | 41.0 | 64.7 % |
| Subros Ltd | 4,580 | 26.6 | 19.2 % |
| Ador Welding Ltd | 2,812 | 23.5 | 22.7 % |
| Diffusion Engineers Ltd | 1,678 | 30.4 | 15.8 % |
| Sahasra Electronic Solutions Ltd | 1,082 | 76.2 | 6.04 % |
| MIC Electronics Ltd | 1,068 | 8.67 % | |
| Tankup Engineers Ltd | 910 | 190 | 19.0 % |
| Vilas Transcore Ltd | 895 | 23.2 | 15.9 % |
| Oriental Rail Infrastructure Ltd | 826 | 17.5 | 12.0 % |
| Technocrats Plasma Systems Ltd | 708 | 47.4 | 67.0 % |
| Hy-Tech Engineers Ltd | 660 | 28.8 | 23.9 % |
| Mallcom (India) Ltd | 589 | 22.0 | 11.6 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-07-09 | Dividend - Rs 1.50 Per Share | |
| 2025-08-29 | Dividend - Re 1 Per Share | |
| 2024-09-09 | Annual General Meeting/Dividend - Re 1 Per Share | |
| 2023-09-21 | Dividend - Re 1 Per Share | |
| 2023-09-21 | Annual General Meeting |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Harsha Engineers International Ltd?
Harsha Engineers International Ltd (HARSHA) has a market capitalisation of Rs 4,234 Cr. at the 2026-10-01 close.
What is the P/E ratio of Harsha Engineers International Ltd?
Harsha Engineers International Ltd trades at a P/E of 27.4 on trailing twelve-month profit, at the 2026-10-01 close.
What were Harsha Engineers International Ltd's latest quarterly results?
In the Jun 2026 quarter, Harsha Engineers International Ltd sales was Rs 457 Cr (+25.2% vs Jun 2025) and net profit was Rs 37 Cr.
What is the 52-week high and low of Harsha Engineers International Ltd?
The 52-week high is Rs 476.80 and the 52-week low is Rs 313.30.