Q3 2025 Harsha Engineers International Ltd Earnings Call Transcript
Key Points
- Harsha Engineers International Ltd (BOM:543600) reported a higher single-digit growth in India, primarily driven by strong performance in the bronze bushing segment.
- The company has secured a major sourcing contract for cages with a large global customer, expected to bring significant additional business from the second half of FY 2026.
- The bronze bushing business is on track to meet the annual sales target, with year-to-date sales aligning with expectations.
- The company's working capital cycle has improved, reducing to 144 days from 151 days in the previous quarter.
- Harsha Engineers International Ltd (BOM:543600) is benefiting from the USD's strength, which enhances the price competitiveness of its products in the US and other international markets.
- The company's performance in key markets like Europe and the US remains challenged, with no significant signs of revival.
- Romania's operations continue to face difficulties, with bleak prospects and an inability to achieve operating break-even in the current financial year.
- The demand for cages in India was soft due to year-end inventory reduction pressures from major bearing companies.
- The solar business, while stable, operates without additional capital or management support, indicating limited growth potential.
- The company's overall top-line growth is expected to remain flat for the current financial year, despite efforts to improve the bottom line.
Ladies and gentlemen, good day and welcome to Hsha Engineers International Limited, Q3 and FI 25 earnings conference call. (Operator Instructions) I now hand the conference over to Mr. Vishal Rangwala, CEO and hold time director. Thank you and over to you, sir.
Hello everyone, good evening. Welcome to our quarter 35 2025aster call.
On call with me today, are, Mr. Maulik Jasani as well as Mr. Sanjay Majmudar.
Maulik will talk us, as you've been doing in the past, Mali Malik will take us through the numbers in a little bit more detail. I'm sure you'd have had a chance to look at, the numbers and the deck.
We'll begin with, as you've seen, you might have seen in the our quarter three performance has remained overall, kind of a flattish trajectory.
The key. Challenges continuing to remain more or less in the same. That's our key market of Europe continues to face significant headwinds. Similarly, the US also is not showing any
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