Harsha Engineers International Ltd
Incorporated in 2010, Harsha Engineers Ltd is a leading engineering company that offers a diversified suite of products across geographies and end-user industries. It manufactures brass, steel, and polyamide cages and stamped components with production facilities located in Asia (India & China) and in Europe (Romania).[1]
- Market Cap ₹ 3,307 Cr.
- Current Price ₹ 363
- High / Low ₹ 528 / 358
- Stock P/E 31.2
- Book Value ₹ 117
- Dividend Yield 0.00 %
- ROCE 21.3 %
- ROE 21.2 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 146% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Auto Ancillaries Industry: Auto Ancillaries
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
|---|---|---|---|---|---|---|
| 95 | 444 | 122 | 601 | 582 | 956 | |
| 101 | 436 | 136 | 536 | 491 | 791 | |
| Operating Profit | -6 | 8 | -15 | 64 | 92 | 166 |
| OPM % | -6% | 2% | -12% | 11% | 16% | 17% |
| 8 | 7 | 1 | 16 | 4 | 18 | |
| Interest | 2 | 8 | 11 | 30 | 27 | 21 |
| Depreciation | 0 | 0 | 0 | 20 | 17 | 20 |
| Profit before tax | -1 | 7 | -25 | 30 | 51 | 143 |
| Tax % | 2% | 0% | 30% | 33% | 26% | 26% |
| Net Profit | -1 | 7 | -17 | 20 | 38 | 106 |
| EPS in Rs | -0.46 | 3.28 | -8.62 | 4.02 | 7.60 | 13.73 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 59% |
| 3 Years: | 99% |
| TTM: | 64% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 146% |
| 3 Years: | 101% |
| TTM: | 179% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 15% |
| Last Year: | 21% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Sep 2022 | |
|---|---|---|---|---|---|---|---|
| 20 | 20 | 20 | 50 | 50 | 77 | 91 | |
| Reserves | 2 | 9 | -8 | 340 | 383 | 491 | 970 |
| 27 | 167 | 122 | 319 | 252 | 288 | 57 | |
| 37 | 255 | 83 | 197 | 196 | 206 | 142 | |
| Total Liabilities | 86 | 451 | 216 | 907 | 881 | 1,062 | 1,260 |
| 0 | 1 | 1 | 179 | 181 | 204 | 213 | |
| CWIP | 0 | 0 | 0 | 2 | 3 | 2 | 4 |
| Investments | 12 | 9 | 7 | 185 | 188 | 211 | 211 |
| 74 | 441 | 209 | 541 | 509 | 645 | 832 | |
| Total Assets | 86 | 451 | 216 | 907 | 881 | 1,062 | 1,260 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
|---|---|---|---|---|---|---|
| 27 | -107 | 29 | 84 | 103 | 51 | |
| -6 | -13 | 15 | -38 | 0 | -75 | |
| -21 | 132 | -56 | -34 | -95 | 14 | |
| Net Cash Flow | -0 | 12 | -11 | 13 | 8 | -9 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
|---|---|---|---|---|---|---|
| Debtor Days | 215 | 257 | 427 | 120 | 103 | 82 |
| Inventory Days | 8 | 32 | 41 | 200 | 263 | 209 |
| Days Payable | 180 | 236 | 249 | 106 | 126 | 101 |
| Cash Conversion Cycle | 43 | 53 | 219 | 213 | 240 | 189 |
| Working Capital Days | 111 | 122 | 313 | 180 | 185 | 151 |
| ROCE % | 12% | -8% | 14% | 11% | 21% |
Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
6 Jan - Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.
-
Announcement under Regulation 30 (LODR)-Acquisition
30 Dec 2022 - Investment in Goldi Harsha Ventures LLP
- Closure of Trading Window 30 Dec 2022
-
Announcement under Regulation 30 (LODR)-Scheme of Arrangement
2 Dec 2022 - Update on the Scheme of Amalgamation of Harsha Engineers B.V. (Netherlands Entity)(Wholly-owned Subsidiary of Harsha Engineers International Limited) into Harsha Engineers International Limited ('Scheme')
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 30 Nov 2022
Concalls
-
Nov 2022Transcript PPT
Leading Market Share[1] HEIL’s market share is estimated to be ~50-60% in the Indian bearing cages market making it the largest manufacturer of precision bearing cages in the organized sector in India in terms of revenues and among the leading manufacturers of precision bearing cages in the world. HEIL accounted for a share of 6.5% in the global organized bearing brass, steel, and polyamide cages market in CY2021.