Harsha Engineers International Ltd Share Price – NSE  /  BSE

Auto Ancillaries, Small Cap

The company will undertake the repair, marketing, promotion, and sale of industrial ball screws, linear actuators, electro spindles, milling heads or other manufactured components within the territory of India.

Umbra Group will be supporting to the company to all technical aspects as may be required and the company will be marketing Umbra’s Product in designatory territory i.e India in accordance with terms and conditions of the agreement.

Offering the rationale for the said agreement, HEIL stated: “Umbra Group needed a local partner to improve their local presence and sales in India and the company is also aligned with their product expertise and also, the company would like to expand its horizon. On account of this, Company has entered into the Agreement with Umbra Group.”

Harsha Engineers International houses two businesses i.e. manufacturing of bearing cages and solar EPC business.

The company had reported a consolidated net profit had declined 6.49% to Rs 29.68 crore despite a 7.91% increase in sales to Rs 324.45 crore in Q3 FY24 over Q3 FY23.

The scrip fell 1.52% to currently trade at Rs 401.65 on the BSE.

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Harsha Engineers International has entered into an agreement with Umbra Group S.p.A on 12 April 2024.

In accordance with the agreement, the company has been appointed as the exclusive authorized agency of Umbra Group for repair, marketing, promotion, and sale of industrial ball screws, linear actuators, electro-spindles, milling heads or other manufactured components (products) within the territory of India and the company wishes to market, promote, repair and sell the Products.

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Net profit of Harsha Engineers International declined 6.49% to Rs 29.68 crore in the quarter ended December 2023 as against Rs 31.74 crore during the previous quarter ended December 2022. Sales rose 7.91% to Rs 324.45 crore in the quarter ended December 2023 as against Rs 300.68 crore during the previous quarter ended December 2022.

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Harsha Engineers Intl. will hold a meeting of the Board of Directors of the Company on 8 February 2024.

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