Harsha Engineers International Q2 FY27: revenue up 16.3% to ₹440 Cr, net profit up 23.6% to ₹45 Cr
Results · Finvezto · 4 Nov 2026 · Harsha Engineers International (HARSHA)
Results Q2 FY27, ₹ Cr
| Q2 FY27 | ₹ Cr | QoQ | YoY |
|---|---|---|---|
| Revenue | 440 | - | +16.3% |
| Operating profit | 75 | - | +39.7% |
| Net profit | 45 | - | +23.6% |
| Operating margin | 17.0% | - | +2.8 pp |
| Net margin | 10.2% | - | +0.6 pp |
YoY is the company's own figure. QoQ shows where our quarterly series matches the filing.
Key points
- Management called Q2 FY27 business as usual and largely on track, with India Engineering revenue growing over 24% YoY in the quarter and 23% in H1, driven by Cages, Bushings and Stampings. Earnings call
- Consolidated Engineering revenue was INR428 crores versus INR363 crores a year ago with EBITDA of INR81.1 crores, and H1 exports reached about INR280 crores against INR480 crores in all of last year. Earnings call
- Management reaffirmed FY27 guidance of mid- to high teens sales growth in India and 10% to 12% consolidated, with global volume growth of 12% to 15%, while cautioning that Q3 is historically a little soft on demand. Earnings call
What to watch
- Management on fy27 sales growth: To sum it up, I want to reaffirm the previous growth guidance given in the earlier calls that it is to say, on a full year basis, FY 2027, we should achieve a sales growth in mid- to high teens in India, while on a consolidated basis, it could be anywhere between 10% to 12%.
- Management on romania losses: We believe that this will be a good viable model, a medium-term strategy where our target is to arrest operating losses incurred in Romania, which we believe we can achieve by end of current financial year.
Links
Company page · Results tracker
Anand Ganapathy K | SEBI Registered Research Analyst | INH000016630.