Harsha engineers International ltd is a top engineering firm that provides a broad range of products across sectors and geographical regions. In terms of revenue, the company is among the top producers of polyamide-bearing cages worldwide and in the organized sector, the largest manufacturer of precision-bearing cages in India.
Harsha Engineers International ltd provides a broad range of engineering and manufacturing products for application in various regions and end-user sector in India. It holds a roughly 50% share of the precision bearing cages in India and a roughly 5.2% market percentage of the global bearings cages market for polyamide, steel, and brass cages.
Harsha Engineers International ltd provides a broad selection of bearing cages with diameters ranging between 20 mm to 2,000 mm. The automobile, railroad, aviation & aerospace, building & mining, agricultural, electrical & electronics, and renewables industries all use these bearing cages.
There are both international and regional companies on the market for bearing cages. Nakanishi Metal Works Co Ltd (NKC; Japan), MPT Präzisionsteile GmbH Mittweida (MPT Group Gmbh, Germany), and Manu Yantralaya Pvt Ltd are some of the leading companies in the global bearing cages industry (MYPT, India).
The value of the global bearing industry was $85.2 billion in 2015 and is projected to reach $106.1 crore in 2019 thanks to a 5.6% CAGR. The global Covid-19 outbreak, which began in March 2020, caused supply chain restrictions and a drop in demand, which led to a contraction of the bearing market in 2020.
Market growth for bearings is anticipated to be 6.4% CAGR through FY22.
However, a recovery was noted in 2021, and the market increased by 12% annually to US$104.6 billion. The Asia-Pacific region’s fast growth persisted throughout the year. The market for bearings is predicted to grow at a CAGR of 6% to 8% from 2021 to 2029, reaching an estimated value of US$171.7 billion in 2029 due to the anticipated increase in the usage of bearings in a variety of applications, including mining, automotive, heavy machinery, infrastructure development, power generation, and construction.
The corporation is divided into two business sectors:
(I) Engineering business
(ii) The EPC Industry
Harsha Engineers International ltd is a manufacturer of precision bearing cages(in brass, steel, and poly materials), intricate and specialized precision stamping components, welded assemblies, brass castings, cages, and bronze bushings within this business division.
For its engineering business, the company has four carefully chosen manufacturing facilities, two of which are in India’s Gujarat state’s Changodar and Moraiya, close to Ahmedabad, and one each in Changshu, China, & Ghimbav Braşov, Romania.
The presence of the organization in these key places enables it to enter international markets more successfully and affordably. Due primarily to its design, research, and technological capabilities, the company has succeeded in broadening its product line and enhancing its present processes in various types of bearing cages.
The company offers comprehensive turnkey solutions for all solar photovoltaic needs under this business category. The business offers operations and maintenance solutions in the sector and is an EPC service provider in the photovoltaic industry.
The solar EPC business has been operated by the company for more than ten years. As of March 31, 2022, the company’s own design, engineering, procurement, project management, and O&M teams had installed at least 500 MW and completed more than 60 MW of roof-top segment commissioning.
Since its founding, it has produced more than 7,500 different types of goods for the industrial and automotive markets. It produces bearing cages made of brass and steel accounting for 6.5% of the global market for organized outsourced bearing cages (made of brass, steel, and polyamide) in CY21.
Inside the organized market in India, the corporation holds a 50–60% market share. In order to serve more end-user industries, including the wind, mining, and maritime sectors, the company recently increased the variety of products it offers by introducing bronze bushings, value-added stamping components made of sand casting, and other items. Its products are used in the automotive, aerospace, construction, mining, agricultural, electrical and electronic, and renewable energy industries.
World’s leading bearing producers in the automotive, railway, aviation and aerospace, construction, mining, agricultural, electrical and electronics, and renewables industries are among the clients the company has built close relationships with.
Its Top-5 customer groups have been in relationships with it on average for more than ten years. Timken, SKF, Schaeffler, JTEKT, and other prominent global bearing manufacturers that have been among its clients for more than ten years are among its core customer groups. It has been able to sign long-term framework agreements with top-tier international bearing manufacturers thanks to its customer-centric philosophy and ongoing commitment to ethical business practices.
In contrast to its rivals, the company’s various geographic presence in countries like China, India, and Romania enables it to penetrate these markets more and establish itself as a local supplier to the most important global bearing players.
The business has also made plans to stock in more than 20 different warehouses around the world. Its global presence also has allowed it to geographically diversify its revenue streams and improve the company’s image, which has led to an increase in orders from India.
The business offers a wide range of engineering and manufacturing products across regions and end-user sectors as a holistic solution supplier. Additionally, it has a history of working with prestigious clients.
It is skilled in automation, design creation, and tooling. The business has a history of steady development and financial performance. has a qualified workforce as well as a strong, seasoned, and motivated senior management team.
As part of an organizational restructuring, the company joined an unrelated EPC business. The company’s blended margin may be diluted by any additional investments made within the EPC industry.
The company’s revenue is heavily reliant on a select number of significant clients. Any unfavorable change or major drop in business from such clients could be detrimental to Harsha’s financial situation.
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