HARSHA

Current scenario: - India engineering business delivered strong top-line growth of over 24% YoY in Q2 FY27, driven by Cages, Bushings, and Stampings. - Exports from India remain strong, with H1 exports at ~INR280 crores. - Romania facility operations are being downsized to arrest operating losses by the end of the current financial year. - China business showed soft sequential performance in Q2 but modest YoY growth; EBITDA margins remain in single digits. Management Guidance & Outlook: - Reaffirmed full-year FY27 revenue growth guidance of mid-to-high teens for India and 10% to 12% on a consolidated basis, factoring in a seasonally softer Q3. - Expects India engineering EBITDA margin to be around 22% and consolidated engineering margin around 17% to 18% on a steady-state basis. - Romania may contribute lower sales next year but aims for a positive contribution to profitability after restructuring. Capex & Growth Drivers: - Advantek expansion project and China brownfield expansion are on track, with total announced capex of ~INR220 crores to be completed over the next 12 to 15 months. - Bushings segment targets ~30% growth in FY27 and ~INR300 crores annual sales within 3 to 4 years. - Stamping segment also targets ~30% growth in FY27, boosted by new categories like accumulators and specialized components.

- Audio recording link provided for Analysts/Investors call held on November 4, 2026. - Pertains to Financial Results for the quarter and half year ended September 30, 2026. - Recording is accessible on the company's Investor Relations website.

- Consolidated revenue grew 16.3% YoY to ₹44,009 Lakhs in Q2 FY27 - Consolidated EBITDA up 28% YoY to ₹8,185 Lakhs with PAT at ₹4,503 Lakhs - India engineering business posted 24.1% YoY revenue growth - Subsidiary Harsha Advantek expected to become PAT positive in H2 - Incurred ₹72 crore Capex in H1 FY27

Q2 FY27 Consolidated Revenue ₹440.09Cr vs ₹378.34Cr (▲16% YoY) EBITDA ₹74.89Cr vs ₹53.65Cr (▲40% YoY) PAT ₹45.03Cr vs ₹36.44Cr (▲24% YoY) EBITDA Margin 17.0% vs 14.2% (▲284bps)

Concall Schedule Concall Date: Wednesday, November 4, 2026 Concall Time: 4:00 PM IST

- Harsha Engineers International Limited has approved the grant of 4,28,000 Employee Stock Options (ESOPs) to eligible employees of the company and its subsidiary on September 25, 2026. - The options are granted under the 'Harsha Engineers International Limited – Employee Stock Option Plan 2026' (ESOP 2026). - Each option is exercisable into one equity share of face value of ₹10 each at an exercise price of ₹370 per option. - The vesting period ranges between 1 to 4 years, and the exercise period is a maximum of 4 years from the date of vesting.

Concall Schedule Concall Date: September 30, 2026 Concall Time: 10:00 A.M. Onwards

- Trading window for dealing in Harsha Engineers securities will close from October 1, 2026, until 48 hours after the declaration of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026. - The date of the Board Meeting to consider these results will be intimated in due course.

- Mr. Lokesh Miglani, Senior General Manager and Head-Brass SBU of Harsha Engineers International Limited, resigned effective August 21, 2026. - His resignation is attributed to new opportunities.

- FY27 overall consolidated sales growth expected in low-to-medium teens, with India Engineering specifically targeting mid-to-high teens growth. - Bushing and Stamping businesses are targeted to achieve ~30% sales growth in FY27, with large-size Cages aiming for ~50% growth for the full year. - Harsha Advantek is expected to become PAT positive by the end of FY27, targeting annual sales of ~₹140 crores. - Harsha China is projected for ~10% growth in FY27 with 12-14% EBITDA margin; a brownfield expansion is underway, with full impact from FY2029. - Harsha Romania's operating losses are expected to reduce, contributing to lower combined foreign subsidiary losses in FY27. - Consolidated CapEx guidance for FY27 is ₹50-80 crores, with a total of ₹180-200 crores planned over the next 1.5-2 years for major expansions. - India Engineering EBITDA margin guidance is 20-22% as a sustainable margin, acknowledging current quarter's impact from raw material costs and FX fluctuations, which are expected to normalize.

- Audio recording of the Analysts and Investors Call regarding the financial results for the quarter ended June 30, 2026, is now available. - The call was held on August 11, 2026. - The recording can be accessed via the link provided on the company's investor relations page.

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- Q1 FY27 Consolidated Revenue ₹45,743 lakhs vs ₹36,529 lakhs (▲25.22% YoY) - EBITDA ₹7,261 lakhs vs ₹6,616 lakhs (▲9.75% YoY) - PAT ₹3,738 lakhs vs ₹3,793 lakhs (▼1.45% YoY) - EBITDA Margin 15.69% vs 17.60% (▼191bps)

- Investor/Analyst Meet Schedule - Date: August 14, 2026 - Organized by: Equirus Annual India Conference'26 - Type of Meeting: Group/One on one meeting - Venue: Sofitel BKC, Mumbai

- Concall Schedule - Concall Date: Tuesday, August 11, 2026 - Concall Time: 4:30 PM IST

- Mr. Rajesh Nirmal, General Manager (Logistics & Commercial), has ceased to be an employee of the company effective August 1, 2026. - The cessation is due to his retirement on attaining the age of superannuation.

- Harsha Engineers International Limited submitted the voting results and Scrutinizer's Report for its 16th Annual General Meeting held on July 23, 2026. - All resolutions, including the adoption of FY2026 financial statements, declaration of final dividend, re-appointment of directors, and appointment of statutory auditors, were approved by shareholders.

- Shareholders at the 16th Annual General Meeting approved the appointment of M/s. Mukesh M. Shah & Co. as Statutory Auditors for a period of 5 consecutive years, effective from the conclusion of the 16th AGM. - M/s. Pankaj R. Shah & Associates ceased to hold office as Statutory Auditors upon the completion of their term.

- The 16th Annual General Meeting of Harsha Engineers International Limited was held on July 23, 2026. - Members adopted financial statements for FY26 and approved a dividend of ₹1.5 per equity share. - Re-appointments of directors and auditors, and the Employee Stock Option Plan 2026, were approved.

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- Trading window for dealing in company securities will close from July 1, 2026. - It will remain closed till 48 hours after the declaration of Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. - The date of the Board Meeting for results will be intimated later.