HARSHA: Strong India demand and margins offset cautious consolidated guidance and Romania risks

Q2 engineering revenue and EBITDA increased YoY, with broad-based India demand and improving margins. FY27 growth guidance is unchanged; Romania restructuring, metal-cost pressure and softer Q3 demand temper the outlook.

Based on Harsha Engineers International Ltd. [HARSHA] Q2 26/27 Audio Transcript — Nov. 4 2026