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Harsha Engineers International Limited was incorporated on December 11, 2010. The part of Harsha Group, HEIL is a leading engineering company that offers diversified suite of products across geographies and end-user industries. It manufactures brass, steel and polyamide cages and stamped components with production facilities located in Asia (India & China) and in Europe (Romania). HEIL’s market share is estimated to be around ~50-60% in the Indian bearing cages market making it the largest manufacturer of precision bearing cages in organized sector in India in terms of revenues and amongst the leading manufacturers of precision bearing cages in the world. HEIL accounted for a share of 6.5% in the global organized bearing brass, steel and polyamide cages market in CY2021.
For year/ period ended ( in Cr.)
|Profit After Tax||91.94||45.44||21.91|
(a) Pre-payment or scheduled repayment of a portion of the existing borrowing availed by our Company.
(b) Funding capital expenditure requirements towards purchase of machinery.
(c) Infrastructure repairs and renovation of our existing production facilities including office premises in India.
(d) General corporate purposes.
At the upper band of Rs 330, the IPO is valued at 20.55x with earnings of 16.06 (EPS FY22). Its valuations appear to be reasonable when compared to its peers which are operating at an industry average P/E of 50.98 times. Hence, Investors may subscribe to the Issue.