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Harsha Engineers shares jump 5% on ₹117-crore contract win; details here
The industrial products maker's stock rose as much as 4.72 per cent during the day to ₹427 per share, the biggest intraday rise since July 30 this year. The stock pared gains to trade 1.8 per cent higher at ₹415 apiece, compared to a 0.25 per cent advance in Nifty 50 as of 10:37 AM.
Shares of the company snapped a two-day losing streak and currently trade at 1.5 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 16 per cent this year, compared to a 4.2 per cent advance in the benchmark Nifty 50. Harsha Engineers has a total market capitalisation of ₹3,802 crore.
Harsha Engineers secures ₹117-crore annual contract
The company secured a recurring supply contract from a leading multinational company for the manufacture and delivery of journal bearings and bushings. The agreement, effective from July 31, 2025, is valued at approximately ₹117 crore per annum.
The contract, awarded by an international entity, spans an initial period of three years and covers both domestic and international supply requirements. The company confirmed that there is no involvement or interest from the promoter group or related entities in the awarding party.
The company's board of directors is scheduled to meet to consider and approve the standalone and consolidated unaudited financial results for the quarter ended June 30, 2025.
Last month, the company announced that its wholly owned subsidiary, Harsha Engineers Advantek, had commenced commercial production and invoicing at its newly established manufacturing plant in Gujarat.
In the March quarter, the company reported a consolidated net loss of ₹2.39 crore, as against a net profit of ₹36.78 crore in Q4 FY24. Revenue from operations declined 2 per cent Year-on-Year (Y-o-Y) to ₹372.97 crore in Q4 FY25.
About Harsha Engineers
Harsha Engineers International positions itself as a core engineering and solar EPC (Engineering, Procurement, and Construction) company, committed to continuous learning and innovation to deliver high-quality engineering products and solar solutions tailored to customer needs.
Since its inception, the company has executed turnkey solar photovoltaic (PV) projects, ranging from kilowatt to megawatt scale, using technologies such as polycrystalline and thin-film materials under its Solar EPC division.
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