Financials Harsha Engineers International Limited

Equities

HARSHA

INE0JUS01029

Industrial Machinery & Equipment

Market Closed - NSE India S.E. Other stock markets 07:43:48 2024-05-10 EDT			5-day change	1st Jan Change
411.2 ^INR	+1.06%		-1.94%	+4.62%

04-15	Harsha Engineers to Sell Umbra Industrial Products in India	MT
04-13	Harsha Engineering International Limited Enters into an Agreement with Umbra Group S.p.A	CI

Valuation

Fiscal Period: March	2023	2024	2025	2026
Capitalization ¹	30,504	37,050	-	-
Enterprise Value (EV) ¹	30,504	37,050	37,050	37,050
P/E ratio	23 x	35.6 x	25 x	20.2 x
Yield	0.3%	0.37%	0.58%	0.77%
Capitalization / Revenue	2.24 x	2.73 x	2.45 x	2.14 x
EV / Revenue	2.24 x	2.73 x	2.45 x	2.14 x
EV / EBITDA	16.1 x	22.6 x	16.7 x	13.7 x
EV / FCF	67 x	72.6 x	76.6 x	45.1 x
FCF Yield	1.49%	1.38%	1.3%	2.22%
Price to Book	2.85 x	3.16 x	2.82 x	2.5 x
Nbr of stocks (in thousands)	91,044	91,044	-	-
Reference price ²	335.0	407.0	407.0	407.0
Announcement Date	23-05-25	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2022	2023	2024	2025	2026
Net sales ¹	-	13,640	13,551	15,146	17,282
EBITDA ¹	-	1,893	1,640	2,221	2,698
EBIT ¹	-	1,532	1,249	1,802	2,236
Operating Margin	-	11.23%	9.22%	11.9%	12.94%
Earnings before Tax (EBT) ¹	-	1,671	1,412	1,998	2,468
Net income ¹	919.5	1,233	1,040	1,485	1,834
Net margin	-	9.04%	7.67%	9.81%	10.61%
EPS ²	16.06	14.59	11.42	16.30	20.15
Free Cash Flow ¹	-	455.2	510.5	483.5	821
FCF margin	-	3.34%	3.77%	3.19%	4.75%
FCF Conversion (EBITDA)	-	24.05%	31.12%	21.77%	30.44%
FCF Conversion (Net income)	-	36.92%	49.11%	32.55%	44.76%
Dividend per Share ²	-	1.000	1.500	2.350	3.150
Announcement Date	22-05-30	23-05-25	-	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	3,437	3,480	3,600	3,149	3,438
EBITDA ¹	508	418.2	475	377.3	476.3
EBIT	-	-	-	343	371
Operating Margin	-	-	-	10.89%	10.79%
Earnings before Tax (EBT) ¹	-	336.4	469	254	425
Net income ¹	326.2	245.8	307.5	243	336
Net margin	9.49%	7.06%	8.54%	7.72%	9.77%
EPS	-	-	-	3.300	3.500
Dividend per Share	-	-	-	-	-
Announcement Date	23-05-25	23-08-01	-	-	-

¹INR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-
Net Cash position	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow ¹	-	455	511	484	821
ROE (net income / shareholders' equity)	-	15.5%	9.43%	11.9%	13.1%
ROA (Net income/ Total Assets)	-	-	-	-	-
Assets ¹	-	-	-	-	-
Book Value Per Share ²	-	118.0	129.0	144.0	163.0
Cash Flow per Share	-	-	-	-	-
Capex ¹	-	677	1,080	927	851
Capex / Sales	-	4.97%	7.97%	6.12%	4.92%
Announcement Date	22-05-30	23-05-25	-	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Harsha Engineers International Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

407 INR

Average target price

442 INR

Spread / Average Target

+8.61%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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