Harsha Engineers Q3 Results Review - Sequential Improvement; Outlook Remains Steady: Prabhudas Lilliadher
Solar EPC recorded robust sales for 2nd quarter in a row at Rs 468 million.
NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lillidher Report
Harsha Engineers International Ltd.'s reported 7.9% YoY revenue growth as strong growth in Solar EPC offset the fall in Engineering. Ebitda margin contracted by 139 basis points YoY.
Romania and China subsidiaries have shown sequential improvement in profitability owing to tighter cost control by scaling down operations as demand from China and Europe continues to remain weak. Pickup in wind demand should aid Romania improvement going forward.
Meanwhile, India Engineering business has been impacted by soft industrial demand, large size bearings have seen muted offtake and sales to Japansese customers have been below expectations.
However, all of these are expected to turnaround positively in FY25. Furthermore, Bronze bushing business is on track for healthy growth this year with strong uptick expected in FY25. Harsha Engineers International.
Click on the attachment to read the full report:
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.