This Smallcap Engineering stock which deals in the manufacturing of steel, brass, and polyamide cages and stamped components was up by 4 percent in the day’s trade after the company received an order worth upto 6 to 10 million euro from a Multi National Company. 

Price Action 

With a market capitalization of Rs. 5,002 Crores, the shares of Harsha Engineers International Limited were up by 4.2 percent in the day’s trade touching a day’s high of Rs. 559.40 per share. The stock reiterated from the day’s high and was trading at Rs. 549.50 per share which is up 2.38 percent higher from the previous closing price of Rs. 536.75 apiece. 

What Happened 

The stocks of Harsha Engineers International rose after the company entered into a long-term agreement with a leading multinational bearing company to manufacture and supply bearing cage products as per the December 5th, 2024 agreement. The expected consideration from this agreement is likely to be between 6 million to 10 million euros. 

About the Company 

Harsha Engineers International Limited was established in 1986. It is India’s largest precision bearing cage manufacturer with a market share of 50 to 60 percent in the organized segment. 

They operate production facilities in India, China, and Romania while focusing on advanced manufacturing technologies and in-house tooling design to produce complex products like steel, brass, and polyamide cages. 

Their business model comprises precision engineering and a solar EPC segment while providing comprehensive solutions across various industries. It includes automotive and renewable energy. The company looks for sustainability and continuous improvement through Total Productive Maintenance (TPM) initiatives to enhance operational efficiency and product quality. 

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Products and Services 

They specialize in manufacturing precision-bearing cages and stamped components. The company’s product offerings include steel, brass, and polyamide cages which is designed for durability and reliability in various applications. Additionally, Harsha Engineering also

provides advanced manufacturing services such as injection molding, CNC machining, and metal forming. 

Financials & Ratios 

Its Revenue from operations grew by 4.12 percent year on year from Rs. 339 Crores in Q2FY24 to Rs. 353 Crores in Q2FY25, accompanied by profits of Rs. 20 Crores to Rs. 29 Crores. 

In terms of Return ratios, it has reported a return on equity (ROE) of 9.92 percent and a return on capital employed (ROCE) of 12.29 percent. It has reported a debt-to-equity ratio of 0.16. 

Shareholding Pattern 

As of September 2024, the shareholding pattern with promoters stake holding a share of 74.61 percent in Harsha Engineers International, Foreign Institutional Investors (FII) holdings stood at 0.56 percent, Domestic Institutional investors (DII) standing at 8.85 percent, and public holdings standing at 15.98 percent. 

Written by Santhosh S 

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