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Harsha Engineers
HARSHA
NSE
BSE
NSEBSESectorIndustrial Products
451.05
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NSEBSEThe Quarter story
The two most recent quarterly results, compared side-by-side.
Steady revenue growth and improved working capital are offset by rising finance costs and volatile solar segment performance.
Operating revenue grows from ₹36,529 Cr to ₹42,108 Cr from Q1 FY26 to Q1 FY27, reflecting steady demand across core engineering products.
Finance costs nearly double from ₹257 Cr to ₹583 Cr from Q1 FY26 to Q1 FY27, weighing on net profitability.
Receivable collection days improve from 85 days to 74 days from Q4 FY26 to Q1 FY27, speeding up cash inflows.
EBITDA margin compresses from 18.1% to 15.9% from Q1 FY26 to Q1 FY27, indicating pricing and input cost pressures.
Creditor payment terms extend from 29 days to 42 days from Q1 FY26 to Q1 FY27, easing short-term cash outflows.
Solar segment profits fall from a peak of ₹454 Cr to ₹210 Cr from Q4 FY26 to Q1 FY27, showing high quarterly volatility.
Core EBITDA holds steady, moving from ₹6,616 Cr to ₹6,979 Cr from Q1 FY26 to Q1 FY27 despite margin fluctuations.
Other operating expenses climb from ₹7,203 Cr to ₹9,077 Cr from Q1 FY26 to Q1 FY27, steadily eroding operating margins.
