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Swaraj Engines

₹3547.9 -32.7 | 0.9%

Last updated: 15:55

Consolidated Standalone

Last updated: 15:55

Swaraj Engines Overview

Swaraj Engines Ltd is an India-based corporation, that is broadly speaking engaged inside the business of diesel engines, diesel engine additives and spare components. It manufactures diesel engines for fitment into Swaraj tractors, which are manufactured via Mahindra & Mahindra Ltd. (M&M). It resources diesel engines within the range of approximately 22 horsepower (HP) to 65 HP. It is likewise into production of hi-tech engine additives. The Company has supplied about 1.2 million engines for fitment into Swaraj tractors.

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Swaraj Engines Key Financials

Market Cap ₹4311 Cr.

Stock P/E 26

P/B 9.9

Current Price ₹3547.9

Book Value ₹ 357.3

Face Value 10

52W High ₹4726

Dividend Yield 2.95%

52W Low ₹ 2530

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Swaraj Engines Share Price

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Swaraj Engines Quarterly Price

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Swaraj Engines Peer Comparison

Swaraj Engines Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 389 280 351 418 464 346 454 484 504 473
Other Income 3 3 3 4 4 4 5 6 5 4
Total Income 392 283 354 422 468 349 459 490 509 477
Total Expenditure 337 247 303 360 401 301 392 417 436 411
Operating Profit 55 36 51 63 67 48 67 73 73 66
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 5 4 4 5 6 5 5 5 6 6
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -3
Profit Before Tax 51 32 47 58 61 43 61 67 67 56
Provision for Tax 13 8 12 15 16 11 16 17 17 14
Profit After Tax 38 24 35 43 45 32 45 50 50 42
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 38 24 35 43 45 32 45 50 50 42
Adjusted Earnings Per Share 31 19.8 29 35.5 37.4 26.3 37.4 41.1 40.9 34.7

Swaraj Engines Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 540 526 666 771 872 773 987 1138 1422 1419 1682 1915
Other Income 16 16 18 19 15 13 9 10 13 15 17 20
Total Income 556 542 684 790 887 786 995 1148 1435 1435 1699 1935
Total Expenditure 465 452 562 650 740 673 851 983 1236 1232 1455 1656
Operating Profit 91 90 122 141 147 113 144 165 198 203 244 279
Interest 0 0 0 1 0 0 0 0 0 0 0 0
Depreciation 13 14 16 17 20 20 20 18 19 17 20 22
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 -3
Profit Before Tax 78 76 105 123 127 93 124 147 180 185 223 251
Provision for Tax 26 25 37 43 45 22 32 37 46 47 57 64
Profit After Tax 52 51 69 80 82 71 93 109 134 138 166 187
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 52 51 69 80 82 71 93 109 134 138 166 187
Adjusted Earnings Per Share 41.7 41.3 55.4 66.1 68 58.6 76.2 90.1 110 113.5 136.6 154.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 19% 14% 17% 12%
Operating Profit CAGR 20% 14% 17% 10%
PAT CAGR 20% 15% 19% 12%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 12% 29% 22% 15%
ROE Average 42% 41% 39% 33%
ROCE Average 57% 55% 53% 47%

Swaraj Engines Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 212 263 283 228 238 236 281 306 342 369 419
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 8 10 9 9 11 9 6 6 6 5 6
Total Current Liabilities 105 63 80 110 117 110 172 150 186 180 244
Total Liabilities 325 337 372 347 366 355 458 461 535 554 669
Fixed Assets 84 101 92 92 108 103 92 95 87 75 110
Other Non-Current Assets 11 5 4 17 11 9 7 39 59 58 80
Total Current Assets 231 230 276 239 247 243 359 328 389 421 478
Total Assets 325 337 372 347 366 355 458 461 535 554 669

Swaraj Engines Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 6 1 1 2 3 3 2 38 6 4 4
Cash Flow from Operating Activities 56 63 82 89 69 100 28 100 133 142 177
Cash Flow from Investing Activities -11 -14 -32 47 4 -27 56 -48 -38 -30 -58
Cash Flow from Financing Activities -51 -49 -49 -136 -73 -73 -49 -84 -97 -112 -116
Net Cash Inflow / Outflow -6 0 1 1 -0 -0 36 -32 -2 1 2
Closing Cash & Cash Equivalent 1 1 2 3 3 2 38 6 4 4 7

Swaraj Engines Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 41.74 41.31 55.42 66.05 67.95 58.56 76.24 90.15 110.01 113.5 136.64
CEPS(Rs) 52.37 52.42 68.53 79.92 84.06 75.15 92.53 105.05 125.27 127.74 153.39
DPS(Rs) 33 33 43 50 50 40 69 80 92 95 104.5
Book NAV/Share(Rs) 170.75 212.04 227.9 187.99 195.71 193.88 230.65 251.55 281.64 303.29 344.79
Core EBITDA Margin(%) 12.5 12.46 13.86 15.29 15.1 12.98 13.75 13.65 13.05 13.19 13.46
EBIT Margin(%) 13.03 12.88 14.08 15.56 14.62 12.04 12.62 12.91 12.65 13.05 13.28
Pre Tax Margin(%) 13.02 12.87 14.08 15.43 14.61 12.04 12.62 12.9 12.64 13.03 13.26
PAT Margin (%) 8.68 8.67 9.19 10.07 9.45 9.19 9.38 9.62 9.4 9.71 9.87
Cash Profit Margin (%) 10.89 11 11.36 12.19 11.7 11.79 11.38 11.21 10.7 10.93 11.08
ROA(%) 15.72 15.5 19.42 22.26 23.09 19.7 22.75 23.8 26.82 25.32 27.14
ROE(%) 24.57 21.59 25.2 31.35 35.42 30.06 35.93 37.4 41.27 38.81 42.17
ROCE(%) 36.89 32.08 38.58 48.34 54.66 39.29 48.21 50.13 55.51 52.12 56.71
Receivable days 4.49 4.43 5.01 6.5 7.12 5.4 21.74 34.79 29.74 31.93 32.27
Inventory Days 24.3 18.77 13.11 13.31 16.61 19.93 18.26 19.85 16.9 18.05 16.18
Payable days 47.91 47.12 45.72 53.58 56.32 62.62 62.69 60.25 47.66 52.81 52.17
PER(x) 19.36 20.61 26.62 30.23 20.7 15.37 17.21 14.49 13.97 20.19 28.48
Price/Book(x) 4.73 4.02 6.47 10.62 7.19 4.64 5.69 5.19 5.46 7.55 11.29
Dividend Yield(%) 4.08 3.88 2.91 2.5 3.56 4.44 5.26 6.13 5.99 4.15 2.68
EV/Net Sales(x) 1.6 1.81 2.68 3.08 1.92 1.39 1.5 1.31 1.24 1.84 2.71
EV/Core EBITDA(x) 9.49 10.55 14.65 16.89 11.39 9.48 10.23 9.06 8.86 12.87 18.68
Net Sales Growth(%) -11.27 -2.55 26.67 15.76 13.04 -11.29 27.58 15.36 24.92 -0.18 18.51
EBIT Growth(%) -20.46 -2.02 38.31 17.3 3.04 -26.98 33.73 18.04 22.38 3 20.61
PAT Growth(%) -22.63 -1.02 34.15 16.36 2.9 -13.81 30.27 18.29 22.05 3.18 20.39
EPS Growth(%) -22.63 -1.02 34.15 19.18 2.88 -13.83 30.2 18.24 22.03 3.17 20.39
Debt/Equity(x) 0 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 2.2 3.65 3.47 2.18 2.1 2.2 2.1 2.19 2.09 2.34 1.96
Quick Ratio(x) 1.89 3.21 3.14 1.89 1.7 1.87 1.74 1.78 1.71 1.94 1.64
Interest Cover(x) 5986.97 1679.74 6849.13 122.38 1402.52 6555.4 0 1923.29 2366.06 749.55 675.87
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Swaraj Engines Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 52.12 52.12 52.12 52.12 52.12 52.12 52.12 52.12 52.12 52.12
FII 2.61 2.7 2.55 2.85 3.23 3.35 3.48 3.72 3.93 3.15
DII 8.51 9.02 9.54 8.84 8.89 8.95 9.07 8.49 8.83 8.91
Public 36.76 36.16 35.8 36.19 35.76 35.58 35.34 35.67 35.13 35.82
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Swaraj Engines News

Swaraj Engines Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 41%
  • Debtor days have improved from 52.81 to 52.17days.
  • Company is almost debt free.

Cons

  • Stock is trading at 9.9 times its book value.

* The pros and cons are machine generated.

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