Harsha Engineers International Ltd. share price target

We revise our FY26/27E EPS estimates by -13.1%/-8.2% factoring in continued slowdown in Romania. Harsha Engineers International (HARSHA) reported a 4.5% YoY revenue increase, with an EBITDA margin expansion of 37bps to 12.6%. Domestic demand for cages and bushings remained resilient, though key export markets, including Europe and the USA, experienced weakness, along with soft demand from Japanese customers. While China showed steady improvement, Romania's outlook remained subdued as management's efforts to optimize the product mix yielded no results. The company's long-term supply...

Issue Snapshot: Issue Open: Sept 14 Sept 16, 2022 Price Band: Rs. 314 330 (Rs.31 discount to eligible employees) *Issue Size: Rs 755.0 cr (Fresh issue of Rs 455 cr + Offer for sale of Rs 300 cr) Reservation for: QIB upto 50% eq sh Non Institutional atleast 15% eq sh ((including 1/3rd for applications between Rs.2 lakhs to Rs.10 lakhs)) Retail atleast 35% eq sh Employees Rs.2.5 cr Face Value: Rs 10 Book value: Rs 68.34 (Mar 31, 2022) Bid size: - 45 equity shares and in multiples thereof 100% Book built Issue IPO Note : Harsha Engineers International Limited

Harsha Engineers International Ltd (HEIL) incorporated on 11th December 2011, is the largest manufacturer of precision bearing cages, in terms of revenue, in organized sector in India, and amongst the leading manufacturers of precision bearing cages in the world. HEIL offers diversified suite of precision engineering products across geographies and end-user industries. It operates under

IPO Note