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- Promoters and Promoter group owns 99.5% pre-offer equity shareholding.
- Comprehensive solution provider offering diversified suite of precision engineering products across geographies and end user industries
- Long standing relationships with leading clientele i.e top 10 customers contributed to 44.70% in FY22, 48.24% in FY21, and 47.79% in FY20.
- Strategically located domestic and international production facilities and warehouses in India, China and Romania.
- Consistent track record of growth and financial performance with low leverage with net debt-to-equity ratio of 0.68 as of FY22.
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About Company
Harsha Engineers International is amongst largest manufacturer of precision bearing cages, in terms of revenue, in organsied sector in India, and amongst the leading manufacturers of precision bearing cages in the world. (Source: CARE Advisory Report). Company offer diversified precision engineering products across geographies and end-user industries. Its business comprises: (i) engineering business, under which it manufacture bearing cages (in brass, steel and polyamide materials), complex and specialised precision stamped components, welded assemblies and brass castings and cages and bronze bushings; and (ii) solar EPC business, under which we provide complete comprehensive turnkey solutions to all solar photovoltaic requirements.
About Industry
The global bearings market was valued at USD 85.2 billion in 2015 and grew to USD 106.1 billion in 2019 at a CAGR of 5.6%. Owing to COVID-19 since end of March 2020, the bearings market contracted in 2020 due to decline in demand and supply chain constraints. However, the market grew at an annual rate of 12% to USD 104.6 billion in 2021. The bearings market is expected to grow at a CAGR of 6% to 8% over 2021 to 2029 and is estimated to be valued at USD 171.7 billion in the year 2029. (Source: CARE Advisory Report)
Promoters of company are Rajendra Shah, Harish Rangwala,Vishal Rangwala, and Pilak Shah. Promoter and Promoter group owns 99.7% of the pre-offer equity shares of the company.
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Objects of the issue are a) Pre-payment or scheduled repayment of a portion of the existing borrowing b) Funding capital expenditure c) Infrastructure repairs and renovation of our existing production facilities and general corporate purpose.
Company profile and about company
Company profile and about company
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