Q3 2026 Harsha Engineers International Ltd Earnings Call Transcript
Key Points
- Harsha Engineers International Ltd (BOM:543600) reported a 17.4% revenue growth in its India Engineering Business for Q3 on a YoY basis.
- The company's Indian Engineering Business showed a healthy operating EBITDA margin of 23.8% after normalizing for one-time provisions.
- The bronze bushing business continued its strong growth trajectory, achieving a sales revenue of INR92 crore in nine months, marking a 30% YoY growth.
- Harsha Engineers International Ltd (BOM:543600) is seeing a steady increase in exports from India, with the EU showing a revival in industrial demand for cages.
- The company has firmed up a brownfield expansion plan in China with an investment of approximately USD9.94 million to expand cage manufacturing capacity, focusing on steel cages.
- Harsha Advantek, a wholly owned subsidiary, reported losses at the PAT level due to higher interest and depreciation.
- A one-time provision of INR5.97 crore was made in Q3 for additional gratuity and leave engagement due to changes in the new Labor Code.
- The performance in Romania was under pressure due to a steep increase in copper prices, resulting in an operating loss.
- The company's foreign subsidiaries jointly contributed to an EBITDA loss of around INR51 lakh.
- Sales growth to Japanese customers has been slow, with stagnant revenue figures compared to the previous year.
Ladies and gentlemen, good day and welcome to the Q3 FY26 Harsha Engineers International Limited conference call. (Operator Instructions) Please note that this conference is being recorded.
I would now hand the conference over to Mr. Vishal Rangwala, CEO of Harsha Engineers International Limited.
Thank you and over to you, sir.
Hello all, warm welcome to our quarter three FY26 investor call.As usual, I will ask Mr. Maulik Jasani, our CFO, to take us through numbers in greater detail. Later on, however, I'm assuming that you would have had a chance to look at that already.
First and foremost, let me start with overall. Iâm really happy to note that, at the macro level, quite a few positive events have happened, which has definitely improved overall market sentiment. This would include India-UK FTA, followed by FTAs with a few other countries, and a very positive India-EU FTA recently concluded.
And to top it all, much-awaited
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