# Harsha Engineers International share price today (Harsha Engineers International Ltd, NSE: HARSHA)

> Harsha Engineers International share price today: ₹462.00 at the NSE close on 4 November 2026, up 18.0% in a year. Harsha Engineers International (NSE: HARSHA) is worth ₹4,208 crore, trades at a P/E of 27.2 and has closed between ₹322.35 and ₹474.50 over the past 52 weeks. > Harsha Engineers International Ltd's results are improving, while its P/E is near the low end of its own history over 4.1 years, higher than only 19% of past readings. HARSHA · Bearings · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/harsha-engineers-international-ltd

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## Key numbers

- Business trend: Getting better, from the last 12 quarters
- Price: ₹462.00 (+18.0% in a year)
- P/E: 27.2× (lower than 81% of the last 4.1 years)
- Revenue (Jun 2026): ₹457 Cr (+25.2% on a year ago)
- Profit (Jun 2026): ₹37.0 Cr (−2.6% on a year ago)
- Operating margin: 15.0% (flat on a year ago)
- ROCE: 13%, FY26
- ROIC: 9.9%, against a 12.0% cost of capital: −2.1 points

The main question: yearly earnings per share moved +73.8% while the share price moved +18.0%. ## What is the Harsha Engineers International share price today? Harsha Engineers International Ltd's share price was ₹462.00 at the close on 4 November 2026. It has been rising for 21 weeks. That is 10.8% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹322 and ₹475, and at that close it sat 92% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 11 weeks in a row. Over the last 4.1 years the share price moved +0% while the NIFTY 500 moved +46%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Harsha Engineers International this quarter? One change stood out: revenue up on a year earlier for 5 quarters in a row. 1. Revenue up on a year earlier for 5 quarters in a row In the June 2026 quarter revenue was ₹457 crore, +25.2% on a year earlier. Why: Revenue rose because more customers in India and overseas bought, helped by multinational plants expanding and more bearing customers buying. Next results: check whether large-size cage orders turn into sales. From the earnings call on 11 Aug 2026. ## What are Harsha Engineers International's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Harsha Engineers International reported revenue of ₹457 crore, up 25.2% from ₹365 crore a year earlier, and a profit of ₹37.0 crore, down 2.6% from ₹38.0 crore. ### Harsha Engineers International results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹457 crore | ₹365 crore | +25.2% |
| Profit | ₹37.0 crore | ₹38.0 crore | −2.6% |
| Earnings per share | ₹4.11 | ₹4.17 | −1.4% |
| Operating margin | 15.0% | 15.0% | 0.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Harsha Engineers International's management discussed these results on a call held on 11 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Harsha Engineers International share price history? Harsha Engineers International closed at ₹462.00 on 4 November 2026, up 18.0% from ₹391.55 a year earlier (7 November 2025) and up 11.7% over three years. Its highest weekly close since September 2022 was ₹576.20 on 21 June 2024. ### Harsha Engineers International share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹414.15 | +11.6% |
| 1 month ago · 1 Oct 2026 | ₹474.50 | −2.6% |
| 6 months ago · 8 May 2026 | ₹426.10 | +8.4% |
| 1 year ago · 7 Nov 2025 | ₹391.55 | +18.0% |
| 3 years ago · 3 Nov 2023 | ₹413.70 | +11.7% |
| Earliest weekly close in our records · 30 Sep 2022 | ₹461.75 | +0.1% |
| Highest weekly close since September 2022 · 21 Jun 2024 | ₹576.20 | −19.8% |
| Lowest weekly close since September 2022, also the 52-week low · 27 Mar 2026 | ₹322.35 | +43.3% |
| 52-week high (weekly close) · 1 Oct 2026 | ₹474.50 | −2.6% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (222 weekly closes from 30 September 2022 to 4 November 2026.)

## What is the latest news on Harsha Engineers International? 4 Nov 2026: Harsha Engineers International closed at ₹462.00, up 11.6% on the week and down 2.6% on the month. 11 Aug 2026: Harsha Engineers International held its results call for April to June 2026. Management guided: FY27 India Engineering revenue growth mid-to-high teens and consolidated sales growth 12-15%; sustainable standalone operating margin 20-22%, full-year Engineering operating margin about 18%, bottom-line growth stronger than sales. ### Earlier

- 9 Jul 2026: ex-date for a dividend of ₹1.50 a share. - Results for April to June 2026: Revenue up 25.2% and profit down 2.6% on a year earlier. ## What dividend does Harsha Engineers International pay? Harsha Engineers International paid ₹1.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.32% at the ₹462.00 close on 4 November 2026. The last was a dividend of ₹1.50 a share, ex-date 9 July 2026. ### Harsha Engineers International dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 9 Jul 2026 | ₹1.50 | Dividend |
| 29 Aug 2025 | ₹1 | Dividend |
| 9 Sep 2024 | ₹1 | Dividend |
| 21 Sep 2023 | ₹1 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 3 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Harsha Engineers International Ltd paid out 9% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 10 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Harsha Engineers International management say on the latest results call? On the call for April to June 2026, held on 11 August 2026, Harsha Engineers International's management guided: FY27 India Engineering revenue growth mid-to-high teens and consolidated sales growth 12-15%; sustainable standalone operating margin 20-22%, full-year Engineering operating margin about 18%, bottom-line growth stronger than sales. > “I will end my presentation by reaffirming that we are confident of continuing to grow strongly in India, with India in the high-teens range, and also achieving consolidated sales growth in the low to mid-teens in FY27. The bottom line should grow more strongly because of the combined impact of all the positive factors we have noted above.”
> Vishal Rangwala, on the call for April to June 2026

### What management guided

- FY27 bushings and stampings planned around 30% growth; large-size cages first cited at 50%, later above 30%; Japan-based customer around ₹80 crore or more, no decline expected. - Advantek FY27 sales above ₹140 crore and profit-positive by year-end; Phase 1 and Phase 2 together goal ₹300-400 crore by the third year. - Harsha China FY27 sales growth around 10%, operating margin 12-14% and profit around 8%; steel-cage expansion to go live in October to December 2027, full impact from FY29. - China and Romania combined FY27 loss around ₹2-3 crore; Romania cage mix planned at 30-35% versus current 20-25%. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/47458/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 11 August 2026.)

## What is the future of Harsha Engineers International? What is changing in the business? What is changing at Harsha Engineers International, from the latest results and calls: india engineering demand and product mix, advantek capacity utilization and overseas wallet-share and large-cage conversion. - India engineering demand and product mix. Management describes broad-based demand, with bushings and stampings carrying growth goals around 30%. ⚠ estimate
- Advantek capacity utilization. Advantek is adding capacity before full utilization, creating a potential fixed-cost absorption lever. ⚠ estimate
- Overseas wallet-share and large-cage conversion. Low overseas wallet share leaves room for sales conversion if customer approvals and large-cage ramp progress. ⚠ estimate
- China steel-cage expansion. China expansion is a later-dated capacity option rather than a near-term earnings driver. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 22 August 2026.)

## What is Harsha Engineers International's order book? Management retained confidence in the large-size cage order-book pipeline. ✓ fact

(Our read after the latest results, written 22 August 2026.)

## What could change the Harsha Engineers International story? What are the risks? Advantek sales do not rise sufficiently to absorb depreciation and interest, or its profitability goal is deferred again. ### Each change stops working if

- Advantek capacity utilization: Advantek sales do not rise sufficiently to absorb depreciation and interest, or its profitability goal is deferred again. - Overseas wallet-share and large-cage conversion: Customer qualification cycles remain slow or the large-size cage facility does not ramp output. - China steel-cage expansion: The project’s scope, funding or commissioning date changes again. ### The main risks

- Romania turnaround remains unproven: Romania remains loss-making and has no firm break-even timetable. ✓ fact
- Advantek profitability delay: The facility’s profitability timetable has moved while ramp costs continue. ✓ fact
- Solar outlook reset and project volatility: The latest solar outlook is below the prior growth expectation and remains dependent on project timing. ✓ fact
- Margin and raw-material pass-through risk: Current margins are above through-cycle levels and pass-through occurs with a lag. ⚠ estimate

(Our read after the latest results, written 22 August 2026.)

## What to watch in Harsha Engineers International's next results? When Harsha Engineers International reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: India Engineering percentage margin after customer pass-through - check sequential recovery without another hedge or indirect-cost one-off. - What to check (from the call)
- India Engineering percentage margin after customer pass-through - check sequential recovery without another hedge or indirect-cost one-off. - Advantek sales ramp and loss narrowing - check progress toward profit positivity and Phase 2 absorption. - Large-size cage output after facility ramp-up - check conversion of the order-book pipeline into quarterly revenue. - Romania cage mix and key-customer casting volumes - check whether operating losses narrow without another currency shock. ## Which stock lists is Harsha Engineers International on? Harsha Engineers International is on 2 of our India lists: Undervalued stocks and Momentum stocks. - [Undervalued stocks Profit growth x: 1.673913043478261](https://www.sectoralpha.in/markets/in/deep-value-stocks)
- [Momentum stocks Market cap cr: 4206.693227091634](https://www.sectoralpha.in/momentum-stocks-india)

## Is Harsha Engineers International profitable? Harsha Engineers International Ltd earned ₹37.0 Cr of net profit in the Jun 2026 quarter, −2.6% on the same quarter a year earlier. Full-year FY26 profit was ₹155 Cr. That is 8.1% of the quarter's revenue. The same quarter a year earlier earned ₹38.0 Cr. 1 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹155 Cr (+74.2% on the year before). Why profit moved: revenue changed +25.2% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +15.8% and revenue +20.0%. Profit is growing slower than sales: rising costs are taking part of the growth. FY26-Q4. Revenue 474 cr, PAT 47 cr, OPM 15.4%, this review produced no quarter-level why; see the levers. FY27-Q1. Revenue 457 cr, PAT 37 cr, OPM 14.7%, this review produced no quarter-level why; see the levers. Why-sources: our stock research file (13 September 2026) and the company’s own results for those quarters. ## How much revenue does Harsha Engineers International make, and is it growing? Harsha Engineers International Ltd reported ₹457 Cr of revenue in the Jun 2026 quarter, +25.2% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 9 years it has grown 37.1% a year on average. The last full year, FY26, came in at ₹1,627 Cr. The last four reported quarters add to ₹1,718 Cr. FY26 revenue was ₹1,627 Cr, +15.6% on the year before. Recent pace: the last four quarters grew +20.0% on average, against 37.1% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +20.1%, against +11.3% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +67.4%, against +11.9% a year (accelerating). FY26-Q4. Revenue 474 cr, PAT 47 cr, OPM 15.4%, this review produced no quarter-level why; see the levers. FY27-Q1. Revenue 457 cr, PAT 37 cr, OPM 14.7%, this review produced no quarter-level why; see the levers. Why-sources: our stock research file (13 September 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Harsha Engineers International keep? Harsha Engineers International Ltd's operating margin was 15.0% in the Jun 2026 quarter, about the same as the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 10 years it has been between −12.0% and 15.0%. The latest quarter is within that range. In the latest quarter it moved +0.0 percentage points on the same quarter a year ago. Why the margin moved: operating margin changed −0.4 percentage points on the year while gross margin changed −1.3 points. So the drop came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. FY26-Q4. Revenue 474 cr, PAT 47 cr, OPM 15.4%, this review produced no quarter-level why; see the levers. FY27-Q1. Revenue 457 cr, PAT 37 cr, OPM 14.7%, this review produced no quarter-level why; see the levers. Why-sources: our stock research file (13 September 2026) and the company’s own results for those quarters. ## Is Harsha Engineers International's profit turning into cash? Over the last 3 years, 115% of Harsha Engineers International Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹68.0 Cr of operating cash against ₹155 Cr of profit. After ₹151 Cr of spending on assets, free cash was −₹83.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 115% of profit came in as cash: the cash cycle got 51 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 3.2× depreciation over three years. The next section checks what that spending is building. ## Where does Harsha Engineers International's cash go? Harsha Engineers International Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 171 days in FY26, down from 222 days in FY21. It spent ₹407 Cr on assets over the last 3 years. Customers take 85 days to pay, and stock sits for 169 days on average. At FY26 sales of ₹1,627 Cr, each day of that cycle ties up about ₹4.5 Cr, so roughly ₹762 Cr is tied up in the business at any time. FY26: customers took 85 days to pay and stock sat for 169 days, about 5.6 months of sales sitting as stock, for a full cycle of 171 days, shorter than FY21's 222. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 169 days. Customers pay about 85 days after that. Suppliers are paid at 83 days. Together that makes the 171-day cycle. Spending on assets: ₹407 Cr over the last 3 years, against ₹127 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹19.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Harsha Engineers International's P/E ratio, and how does it compare with its own history? Harsha Engineers International Ltd's P/E is 27.2×, near the low end of its own history: it has been lower only 19% of the time. Its usual P/E (the middle reading) is 33.1×, over 4.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +73.8% while the price moved +18.0%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +3.7% a year; about +9.7% a year came from earnings growth and about −6.0 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Harsha Engineers International business getting better or worse? Harsha Engineers International Ltd's business is getting better. Profit growth hit its low 3 quarters ago at −25.0% and has recovered to +67.4%, with ROCE rising at 15.6%. This is based on 12 quarters of 4 measures. Why it matters: a lasting rise from a low is what this page is built to show. ## What is the Harsha Engineers International story, and has it been checked? Harsha Engineers International Ltd's story is not scored yet against the checks our research set on 13 September 2026. Where it sits in its own cycle: mixed. Checks so far: 10 not due yet. The test written in advance. India Engineering EBITDA margin (pass-through catch-up), Margin again below ~16% with another cost-lag explanation, a third pass-through miss in five quarters. Measured by: India Engineering EBITDA margin (pass-through catch-up) 16% in Q1 FY27; management expects ~18% for FY27 'provided the metal price will be stabilized' (call 11 August 2026) by FY27-Q2 (Sep-2026 quarter, reported ~Nov 2026). The test written in advance. Advantek quarterly revenue and profit, Revenue flat near Rs 30 cr and/or a fourth deferral of the profitability date. Measured by: Advantek quarterly revenue and profit. The test written in advance. Operating cash flow as a share of profit, H1 FY27, Conversion below ~0.5x again while borrowings rise, a funding pattern, not a build (0.7x and 0.5x are analyst thresholds, not management guidance). Measured by: Operating cash flow as a share of profit, H1 FY27 by FY27-Q2 (H1 statement, ~Nov 2026). Lever 1 · Operating leverage: building. Advantek revenue Rs 1.65 cr (Q1 FY26) → Rs 43 cr in FY26 → ~Rs 30 cr in Q1 FY27 (+7% QoQ); FY26 EBITDA +Rs 4 cr but profit -Rs 11.4 cr; Q1 FY27 loss ~Rs 4 cr at ~9% EBITDA versus the 20-22% sustainable India margin. What proves it keeps working: Annual sales goal in Advantek should be in the region of about Rs 140 crores plus... we expect Advantek to be PAT positive by the end of FY27 (call 11 August 2026). Sources: our results-season review, 13 September 2026. The story check is re-scored every results season; the record below never changes. ## Did Harsha Engineers International management deliver what it promised? What Harsha Engineers International Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Solar Growth Outlook Cut · 11 August 2026. In May 2026, management disclosed FY26 solar revenue of INR183 crore and said solar would grow more than 25% going forward. In Aug 2026, it guided to approximately INR200 crore for the segment, implying only about 9% growth from the disclosed base, with no explanation for the materially lower outlook. China Expansion Reclassified · 11 August 2026. February and May 2026 calls both described the China project as a brownfield expansion at the existing site. The Aug 2026 call instead called it greenfield without explaining a change in project scope or site, which is material to capex, execution, and timing assumptions. FY27 Capex Guidance Reduced · 11 August 2026. In May 2026, management identified INR30-INR40 crore of India maintenance capex and about INR70 crore of China capex for the current financial year, implying at least INR100-INR110 crore before other additions. In Aug 2026, management instead framed current-year capex at INR50-INR80 crore and did not reconcile the lower range with those previously identified commitments. Harsha Advantech FY27 Breakeven Commitment Downgraded · 7 May 2026. Both the Nov 2025 and Feb 2026 calls contained unqualified statements that Harsha Advantech would break even or become profitable in FY27, giving shareholders a clear anchor for modelling when the subsidiary loss drag would reverse. The May 2026 call replaces these explicit commitments with the materially weaker phrase 'improve considerably,' providing no specific profitability milestone or revised timeline, leaving the previously stated FY27 breakeven goal unconfirmed. Every quote above is taken word for word from the company’s own earnings calls. ## What is Harsha Engineers International management's track record? Subsidiary-delivery 3-3.5/10 debit offset by 7/10 capital-allocation transparency and core delivery. ### Regulatory and governance record

No SEBI/CBI/ED action or fraud allegation; only routine trading-window-closure / insider-trading-compliance exchange filings. 0% Promoter shares pledged

Sources:

- [finance.yahoo.com](https://finance.yahoo.com/harsha-q4-2026)
- [scanx.trade](https://scanx.trade/harsha-engineers)
- [careratings.com](https://careratings.com/harsha-engineers-2026-02-24)

(Checked 21 July 2026.)

## How much does Harsha Engineers International earn on its capital? Harsha Engineers International Ltd earned a ROCE of 13% in FY26. That is up from a low of −8% in FY19. Its return on capital used (ROIC) is 2.1 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 9.5% net margin and 0.79× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 9.5% net margin × 0.79× asset turnover × 1.47× leverage (assets divided by equity) ≈ 11.0% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 9.9% − 12.0% = −2.1 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Harsha Engineers International have too much debt? Harsha Engineers International Ltd has total debt of ₹372 Cr against shareholder equity of ₹1,402 Cr as of Jun 2026, so its debt is 0.27× its equity, which is very little. Year by year, that ratio went from 0.74 in FY22 to 0.27 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Harsha Engineers International shareholding pattern? Domestic institutions raised their stake in Harsha Engineers International Ltd by 5.1 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 13.9% of the company. Foreign institutions moved +0.6 points over the same period, to 1.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +5.1 points over 8 quarters, to 13.9%; Foreign institutions: +0.6 points over 8 quarters, to 1.1%; Promoters: +0.4 points over 8 quarters, to 75.0%. Why the owners changed: domestic institutions drove it (+5.1 points), together with foreign institutions (+0.6 points). They raised their stake step by step. ## How far is Harsha Engineers International from balance-sheet trouble? For Harsha Engineers International Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Harsha Engineers International rank in its industry? 60.1 out of 100, rank 2 of 8 in Bearings, with 96% of the evidence available. Harsha Engineers International Ltd scores 60.1 out of 100 against the 8 companies it is compared with in Bearings, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 24.4 + 7.8 + 17.9 + 10 = 60.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Harsha Engineers International compared with? Harsha Engineers International ranks 2 of 8 Bearings companies on the 4-Factor Sector Score, with 60.1 out of 100. 1. [Menon Bearings Ltd](https://www.sectoralpha.in/stocks/menon-bearings-ltd) MENONBE · leader · Sector-leading setup · 100% evidence 85.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 34.7/35 · Revenue 40.5% · Profit 92.6% · Operating margin change 4 points · 100% evidence Capital efficiency 19.6/25 · ROCE 25.5% · Operating margin 20% · 100% evidence Valuation 11.5/20 · P/E 29.8× · PEG 0.44 · 100% evidence Relative strength 19.4/20 · Lead over its industry 53.7% · Lead over NIFTY 500 70.2% · 1 year 137.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 34.7 + 19.6 + 11.5 + 19.4 = 85.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. Harsha Engineers International Ltd this page HARSHA · breaking out · Evidence leans up · 96% evidence 60.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.4/35 · Revenue 20.1% · Profit 67.4% · Operating margin change 0 points · 88% evidence Capital efficiency 7.8/25 · ROCE 13% · Operating margin 15% · 100% evidence Valuation 17.9/20 · P/E 24.4× · PEG 0.55 · 100% evidence Relative strength 10.0/20 · Lead over its industry -5.7% · Lead over NIFTY 500 8.6% · 1 year 3.8% · 100% evidence · 9 of 12 weeks ahead Exact sum: 24.4 + 7.8 + 17.9 + 10 = 60.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Schaeffler India Ltd](https://www.sectoralpha.in/stocks/schaeffler-india-ltd) SCHAEFFLER · quiet · Evidence leans up · 100% evidence 54.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.5/35 · Revenue 22.7% · Profit 23.3% · Operating margin change -2 points · 100% evidence Capital efficiency 19.5/25 · ROCE 27.3% · Operating margin 17% · 100% evidence Valuation 11.7/20 · P/E 42.5× · PEG 2.13 · 100% evidence Relative strength 3.0/20 · Lead over its industry -18.8% · Lead over NIFTY 500 -5.7% · 1 year -11.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 20.5 + 19.5 + 11.7 + 3 = 54.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Rolex Rings Ltd](https://www.sectoralpha.in/stocks/rolex-rings-ltd) ROLEXRINGS · breaking out · Evidence leans up · 96% evidence 54.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.6/35 · Revenue 1.8% · Profit -12.1% · Operating margin change 2 points · 88% evidence Capital efficiency 17.8/25 · ROCE 21.1% · Operating margin 23% · 100% evidence Valuation 7.9/20 · P/E 22× · PEG 3.83 · 100% evidence Relative strength 17.0/20 · Lead over its industry 5.2% · Lead over NIFTY 500 20% · 1 year 33.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 11.6 + 17.8 + 7.9 + 17 = 54.3 · What this means: Relative strength against the index is 20%, and revenue and profit growth are weak. 5. [NRB Bearings Ltd](https://www.sectoralpha.in/stocks/nrb-bearings-ltd) NRBBEARING · leader · Evidence leans up · 96% evidence 52.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.4/35 · Revenue 14.3% · Profit 66.7% · Operating margin change 0 points · 88% evidence Capital efficiency 10.8/25 · ROCE 18.4% · Operating margin 17% · 100% evidence Valuation 4.8/20 · P/E 29× · PEG 3.58 · 100% evidence Relative strength 14.0/20 · Lead over its industry 17.4% · Lead over NIFTY 500 32% · 1 year 63.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.4 + 10.8 + 4.8 + 14 = 52 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Timken India Ltd](https://www.sectoralpha.in/stocks/timken-india-ltd) TIMKEN · quiet · Evidence leans down · 82% evidence 38.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.6/35 · Revenue 17% · Profit -4% · Operating margin change 0 points · 95% evidence Capital efficiency 13.3/25 · ROCE 18.3% · Operating margin 18% · 76% evidence Valuation 8.7/20 · P/E 49.2× · PEG n/a · 50% evidence Relative strength 2.2/20 · Lead over its industry -20.5% · Lead over NIFTY 500 -7.7% · 1 year -9.3% · 100% evidence · 0 of 12 weeks ahead Exact sum: 14.6 + 13.3 + 8.7 + 2.2 = 38.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [SKF India Ltd](https://www.sectoralpha.in/stocks/skf-india-ltd) SKFINDIA · turning · Most evidence points down · 96% evidence 34.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.2/35 · Revenue -38.6% · Profit -60.2% · Operating margin change 2 points · 88% evidence Capital efficiency 14.9/25 · ROCE 24.2% · Operating margin 15% · 100% evidence Valuation 6.1/20 · P/E 29.7× · PEG 2.15 · 100% evidence Relative strength 4.4/20 · Lead over its industry -24.5% · Lead over NIFTY 500 -11.6% · 1 year -34.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 9.2 + 14.9 + 6.1 + 4.4 = 34.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [SKF India (Industrial) Ltd](https://www.sectoralpha.in/stocks/skf-india-industrialltd) SKFINDUS · quiet · Too little evidence to rank firmly · 42% evidence 42.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.9/43.75 · Revenue n/a · Profit n/a · Operating margin change -2 points · 41% evidence Capital efficiency 16.6/31.25 · ROCE 29.9% · Operating margin 9% · 100% evidence Valuation 11.7/25 · P/E 30.5× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 13.9 + 16.6 + 11.7 = 42.2 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Bearings](https://www.sectoralpha.in/sectors/bearings), all 8 compared on one page. ## Which companies are close to Harsha Engineers International in size? Harsha Engineers International is the 7th largest of 8 Bearings companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Timken India, SKF India (Industrial), SKF India, NRB Bearings and Rolex Rings. Just below it: Menon Bearings. ### Bearings companies close in size

1. [Timken India Ltd](https://www.sectoralpha.in/stocks/timken-india-ltd) ₹21,452 crore
2. [SKF India (Industrial) Ltd](https://www.sectoralpha.in/stocks/skf-india-industrialltd) ₹11,709 crore
3. [SKF India Ltd](https://www.sectoralpha.in/stocks/skf-india-ltd) ₹6,895 crore
4. [NRB Bearings Ltd](https://www.sectoralpha.in/stocks/nrb-bearings-ltd) ₹4,340 crore
5. [Rolex Rings Ltd](https://www.sectoralpha.in/stocks/rolex-rings-ltd) ₹4,264 crore
6. Harsha Engineers International Ltd ₹3,771 crore
7. [Menon Bearings Ltd](https://www.sectoralpha.in/stocks/menon-bearings-ltd) ₹1,548 crore

[All 8 Bearings companies, largest first](https://www.sectoralpha.in/sectors/bearings#all-companies)

### Companies close in size in other industries

1. [GE Power India Ltd](https://www.sectoralpha.in/stocks/ge-power-india-ltd) ₹3,808 crore · Infra - General
2. [Epigral Ltd](https://www.sectoralpha.in/stocks/epigral-ltd) ₹3,773 crore · Pesticides/Agrochemicals
3. Harsha Engineers International Ltd ₹3,771 crore
4. [MSTC Ltd](https://www.sectoralpha.in/stocks/mstc-ltd) ₹3,765 crore · E-Commerce - Platform - Utility
5. [Subros Ltd](https://www.sectoralpha.in/stocks/subros-ltd) ₹3,760 crore · Auto Ancillaries - AC

## Quarterly scorecard? Our Harsha Engineers International Ltd research of 13 September 2026 set 10 checks, and every results season scores each one. No results season has been scored against them yet. A row is permanent: a miss stays on the record after it is fixed. ## What else do people ask about Harsha Engineers International? ### What is Harsha Engineers International's share price today? Harsha Engineers International Ltd's share price is ₹462.00, +18.0% over the past year. The whole company is worth ₹4,208 Cr on the market. In the last 52 weeks it traded between ₹322 to ₹475; today it is 92% of the way up from the low, 10.8% above its 200-day average (as of 4 November 2026). ### What were Harsha Engineers International's latest quarterly results? Harsha Engineers International Ltd reported revenue of ₹457 Cr and net profit of ₹37.0 Cr for the Jun 2026 quarter. Revenue rose 25.2% and profit fell 2.6% compared with a year earlier. Earnings per share were ₹4.11. The operating margin was 15.0%, 0.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Harsha Engineers International's market cap? Harsha Engineers International Ltd's market capitalisation is ₹4,208 Cr at a share price of ₹462.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Harsha Engineers International performing? Harsha Engineers International Ltd's share price has been rising for 21 weeks. In its latest quarter, revenue rose 25.2% and profit fell 2.6% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 11 weeks running (as of 4 November 2026). ### Will Harsha Engineers International's share price go up? This page does not forecast Harsha Engineers International Ltd's share price. What it shows instead: the share price is ₹462.00, and it has been rising for 21 weeks. Its P/E of 27.2× is higher than 19% of its own last 4 years (as of 4 November 2026). ### Where is Harsha Engineers International in its business cycle? Harsha Engineers International Ltd's FY26 operating margin was 15.0%, against a 10-year range of −12.0% to 15.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 15.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Harsha Engineers International story? The main question: yearly earnings per share moved +73.8% while the share price moved +18.0%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Harsha Engineers International a stock worth studying right now? What the numbers show: Harsha Engineers International Ltd's results are improving, while its P/E is near the low end of its own history over 4.1 years, higher than only 19% of past readings. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Harsha Engineers International share price forecast for 2026? What management itself guided: FY27 India Engineering revenue growth mid-to-high teens and consolidated sales growth 12-15%; sustainable standalone operating margin 20-22%, full-year Engineering operating margin about 18%, bottom-line growth stronger than sales. What is changing at Harsha Engineers International, from the latest results and calls: india engineering demand and product mix, advantek capacity utilization and overseas wallet-share and large-cage conversion. What would change the story: Advantek sales do not rise sufficiently to absorb depreciation and interest, or its profitability goal is deferred again. ### Where does this page get Harsha Engineers International's management information? From Harsha Engineers International's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Undervalued stocks: https://www.sectoralpha.in/markets/in/deep-value-stocks
- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india

This is research, not advice. We’re not SEBI-registered.