Harsha Engineers International Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings
- October 9, 2026
- Posted by: Ankit Jaiswal
- Category: Market
Harsha Engineers International share price Rs 433.70 (9 October 2026). Base target Rs 522, bull Rs 630, downside risk Rs 354. PE 26.02. 52W range Rs 313.30 to Rs 484.80.
Quick Answer
The Harsha Engineers International share price target for 2027 is Rs 522, about 20.4% above the current price of Rs 433.70. The bull case is Rs 630, and the downside risk level, which is not a target, is Rs 354. The base case assumes earnings per share grow 18.0% a year, the pace seen from FY24 to FY26, with the stock holding its PE of 26.02. These are model-based estimates built from reported financials, not guaranteed outcomes.
Investors weighing a Harsha Engineers International target price for 2027 should start with where the stock sits today. At Rs 433.70 on 9 October 2026, it is 10.5% below its 52-week high of Rs 484.80 and 38.4% above its 52-week low of Rs 313.30. That range spans 55% from low to high, so the entry point matters as much as the Harsha Engineers International price forecast itself.
This article builds the Harsha Engineers International share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 522 base case and the Rs 630 bull case were reached, along with a downside risk level of Rs 354.
Click Here – Get Free Investment Predictions
Harsha Engineers International Stock Analysis: Company Overview and Key Stats
Harsha Engineers International (NSE: HARSHA) has a market capitalisation of Rs 4,025 crore. In FY26 it reported revenue of Rs 1,665 crore and net profit of Rs 155.20 crore. The table collects the figures the Harsha Engineers International share price target is built on.
| Metric | Value |
|---|---|
| Company | Harsha Engineers International |
| NSE Ticker | HARSHA |
| CMP (9 October 2026) | Rs 433.70 |
| 52-Week High | Rs 484.80 |
| 52-Week Low | Rs 313.30 |
| Market Cap | Rs 4,025 crore |
| PE Ratio (TTM) | 26.02 |
| Industry PE | 47.18 |
| Price to Book | 2.87 |
| Return on Equity | 11.07% |
| Debt to Equity | 0.27 |
| EPS (TTM) | Rs 16.99 |
| Dividend Yield | 0.34% |
| 12-Month Base Target | Rs 522 |
| Bull Case | Rs 630 |
| Downside Risk Level (not a target) | Rs 354 |
Why Is Harsha Engineers International Share Price Target Set at Rs 522 for 2027?
The base-case Harsha Engineers International stock target of Rs 522 applies a PE multiple of 26.02 to a forward EPS estimate of Rs 20.05. That EPS assumes 18.0% yearly growth, the pace from FY24 to FY26, and puts the target 20.4% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.
Earnings Growth Behind the Harsha Engineers International Target Price: Five Years of Results
Harsha Engineers International grew revenue from Rs 1,339 crore in FY22 to Rs 1,665 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew faster, from Rs 91.95 crore to Rs 155.20 crore (14.0% a year), which shows margin gains did part of the work and not just higher sales.
| Financial Year | Revenue (Rs Cr) | Net Profit (Rs Cr) | EPS (Rs) | Dividend per Share (Rs) |
|---|---|---|---|---|
| FY22 | 1,339.00 | 91.95 | 11.90 | 0.00 |
| FY23 | 1,393.81 | 123.28 | 14.59 | 1.00 |
| FY24 | 1,421.79 | 111.43 | 12.24 | 1.00 |
| FY25 | 1,445.38 | 89.31 | 9.81 | 1.00 |
| FY26 | 1,665.30 | 155.20 | 17.05 | 1.50 |
FY26 revenue growth was 15.2%, faster than the four-year average of 5.6%, and net profit moved up 73.8%. EPS rose from Rs 12.24 in FY24 to Rs 17.05 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.
Margins and the Latest Quarter
Harsha Engineers International converted 9.3% of FY26 revenue into net profit, against 6.2% in FY25, within a five-year range of 6.2% to 9.3%. EBITDA margin was 16.7% in FY26 versus 12.8% in FY25.
In the June 2026 quarter, revenue was Rs 462.56 crore, up 23.1% from the same quarter a year earlier, while net profit of Rs 37.38 crore was down 1.5%. EBITDA came in at Rs 72.58 crore, up 10.1% year on year. The next quarterly result is the first test of whether the earnings assumption holds.
Balance Sheet and Cash Flow
Debt to equity stands at 0.27, and shareholders’ equity grew from Rs 521.86 crore in FY22 to Rs 1,402 crore in FY26. Operating cash flow in FY26 was Rs 68.49 crore against capital expenditure of Rs 120.03 crore, leaving negative free cash flow of Rs 51.54 crore. In FY25 free cash flow was negative at Rs 3 crore.
Valuation Check for the Harsha Engineers International Stock Target: PE, Price to Book and ROE
At a PE of 26.02 against an industry PE of 47.18, Harsha Engineers International trades at a discount to its industry. Price to book is 2.87 on a book value of Rs 153.96 per share, and return on equity is 11.07%. A PE of 26.02 equals an earnings yield of 3.8%, and the FY26 dividend of Rs 1.50 per share gives a yield of 0.34%.
Shareholding Pattern and Institutional Holding
Promoters held 75.00% of Harsha Engineers International in June 2026, and promoter holding rose from 74.72% in June 2025 to 75.00% in June 2026. Foreign institutional investors (FII) held 1.79% and domestic institutions (DII) held 13.02%, which puts total institutional holding at 14.81%. FII holding rose from 0.88% in June 2025 to 1.79% in June 2026. Public shareholders own the remaining 10.19%.
Harsha Engineers International Share Price Targets for the Short Term and 12 Months
Short Term Harsha Engineers International Stock Target Levels: Technical Setup
At Rs 433.70 on 9 October 2026, Harsha Engineers International trades below its 50-day simple moving average of Rs 440.33 and above its 200-day exponential moving average of Rs 412.91. The 14-day RSI reads 46.7, which is neutral territory, and the MACD line sits below its signal line. The nearest resistance level is Rs 440.33 (50-day simple moving average) and the nearest support is Rs 412.91 (200-day exponential moving average). A sustained move above Rs 440.33 would improve the short-term setup, while a close below Rs 412.91 would shift attention to the next support.
12 Month Harsha Engineers International Target Price for 2027
The 12-month target for Harsha Engineers International is Rs 522: forward EPS of Rs 20.05 at a PE of 26.02. That is 20.4% above Rs 433.70. It would also push the stock above its 52-week high of Rs 484.80.
How EPS Growth and PE Multiple Change the Harsha Engineers International Target Price
| EPS Growth | PE 20.82 | PE 26.02 | PE 29.92 |
|---|---|---|---|
| 0.0% (EPS Rs 16.99) | Rs 354 | Rs 442 | Rs 508 |
| 18.0% (EPS Rs 20.05) | Rs 417 | Rs 522 | Rs 600 |
| 24.0% (EPS Rs 21.07) | Rs 439 | Rs 548 | Rs 630 |
Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Harsha Engineers International price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.
Bull Case and Downside Risk for Harsha Engineers International Stock Target in 2027
Bull Case Rs 630
The bull case Harsha Engineers International price target needs EPS growth of 24.0%, which lifts forward EPS to Rs 21.07, and a PE multiple that rises 15% to 29.92. That gives Rs 630, 45.3% above the current price and above the 52-week high of Rs 484.80, so the stock would have to set a fresh 52-week high.
Downside Risk Level Rs 354
The downside risk level is not a target. It assumes EPS stays flat at Rs 16.99 and the PE falls 20% to 20.82. That gives Rs 354, 18.4% below the current price and above the 52-week low of Rs 313.30.
| Scenario | EPS Growth | PE Multiple | Price (Rs) | Change vs CMP |
|---|---|---|---|---|
| Bull Case | 24.0% | 29.92 | Rs 630 | +45.3% |
| Base Case | 18.0% | 26.02 | Rs 522 | +20.4% |
| Downside Risk | 0.0% | 20.82 | Rs 354 | -18.4% |
Key Risks to the Harsha Engineers International Target Price for 2027
Growth Slowdown Risk for the Harsha Engineers International Price Target
Revenue in the June 2026 quarter was up 23.1% year on year, and FY26 revenue growth was 15.2%. If growth slows from here, the EPS estimate behind the Harsha Engineers International stock target will need revising.
Liquidity and Size Risk
Harsha Engineers International has a market capitalisation of Rs 4,025 crore. Institutional holding is 14.81%, and promoters hold 75.00%. Stocks of this size can move sharply on small volumes, and exits can take longer than entries.
Valuation and Margin Risk
Net margin was 9.3% in FY26, so a small slip in costs moves profit noticeably. At a PE of 26.02 versus an industry PE of 47.18, a de-rating toward the downside-risk PE of 20.82 would cut the price even if earnings hold.
Market and Technical Risk
The stock trades 10.5% below its 52-week high, with an RSI of 46.7 and a MACD reading below its signal line. Broader market weakness can override company fundamentals in the short term.
How to Invest in Harsha Engineers International
Start with the live price and volume. Any Harsha Engineers International share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 433.70 price before acting on any level.
Next, review the fundamentals yourself. The Univest Screener lets you check Harsha Engineers International’s PE, ROE, debt and shareholding in one place.
Check Harsha Engineers International fundamentals on the Univest Screener
Then compare the three Harsha Engineers International target price scenarios with your own view. If you expect EPS growth below 18.0%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.
Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.
Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.
Download the Univest iOS App or Univest Android App to track Harsha Engineers International live price and get daily stock recommendations.
Conclusion
The Harsha Engineers International share price target for 2027 is Rs 522 in the base case, with Rs 630 as the bull case. The support for that view is arithmetic you can check: EPS grew 18.0% a year over FY24 to FY26, and the stock trades at a PE of 26.02. The risks are equally concrete, including a stock that sits 10.5% below its 52-week high and a downside scenario that cuts the price 18% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Harsha Engineers International Share Price Target 2027
What is the Harsha Engineers International share price target for 2027?
Ans. The base-case Harsha Engineers International share price target for 2027 is Rs 522, with Rs 630 as the bull case. The downside risk level, which is not a target, is Rs 354. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.
What is the Harsha Engineers International share price today?
Ans. As of 9 October 2026, 1:18 PM IST, Harsha Engineers International trades at Rs 433.70, down 1.97% on the day. The 52-week range is Rs 313.30 to Rs 484.80.
Is Harsha Engineers International a buy or sell at the current price?
Ans. The data is mixed rather than one-sided: EPS has grown 18.0% a year over FY24 to FY26, but the stock is 10.5% below its 52-week high. Whether Harsha Engineers International fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.
What are the bull case target and downside risk level for Harsha Engineers International shares?
Ans. The bull case target is Rs 630, which assumes 24.0% EPS growth and a PE of 29.92. The downside risk level is Rs 354, which assumes flat EPS and a PE of 20.82. It marks a risk, not a target.
What are the main risks to the Harsha Engineers International price target?
Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 4,025 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.
What is the PE ratio of Harsha Engineers International and how does it compare with the industry?
Ans. The PE ratio of Harsha Engineers International is 26.02 against an industry PE of 47.18. Price to book is 2.87 and return on equity is 11.07%. The base case in the Harsha Engineers International price target holds this PE constant.
Who owns Harsha Engineers International, and what is the promoter holding?
Ans. Promoters held 75.00% of Harsha Engineers International in June 2026. FII held 1.79%, DII held 13.02% and the public held 10.19%.
What were Harsha Engineers International’s latest quarterly results?
Ans. In the June 2026 quarter, Harsha Engineers International reported revenue of Rs 462.56 crore (up 23.1% year on year) and net profit of Rs 37.38 crore (down 1.5%).
