Harsha Engineers International Limited — Investor Meet, 12-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Harsha Engineers reported Q1 FY26 consolidated engineering revenue of INR349 Cr and EBITDA of INR65.2 Cr. Positive industrial demand is emerging in Europe, boosting Romania sales and India exports. The Bushing business shows strong traction, backed by a new INR117 Cr peak annual sales contract, projecting 30%+ growth this fiscal year. While the new Advantek plant incurred initial losses, management anticipates a stronger H2 FY26, targeting low-teens India Engineering growth and higher single-digit consolidated growth. Profitability is expected to improve, with combined Romania/China losses potentially halved. The company maintains a cautiously optimistic outlook focusing on strategic growth and capacity expansion.