Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Swaraj Engines
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 360 | 400 | 389 | 280 | 351 | 418 | 464 | 346 | 454 | 484 | 504 | 473 | 546 |
| Expenses + | 312 | 345 | 337 | 247 | 303 | 360 | 401 | 301 | 392 | 417 | 436 | 411 | 471 |
| Operating Profit | 48 | 55 | 52 | 33 | 48 | 58 | 63 | 44 | 62 | 67 | 68 | 62 | 75 |
| OPM % | 13% | 14% | 13% | 12% | 14% | 14% | 14% | 13% | 14% | 14% | 14% | 13% | 14% |
| Other Income + | 4 | 5 | 3 | 3 | 3 | 4 | 4 | 4 | 5 | 6 | 5 | 0 | 4 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 5 | 5 | 5 | 4 | 4 | 5 | 6 | 5 | 5 | 5 | 6 | 6 | 5 |
| Profit before tax | 47 | 55 | 51 | 32 | 47 | 58 | 61 | 43 | 61 | 67 | 67 | 56 | 73 |
| Tax % | 26% | 26% | 26% | 25% | 25% | 26% | 26% | 25% | 26% | 26% | 26% | 25% | 25% |
| Net Profit + | 35 | 41 | 38 | 24 | 35 | 43 | 45 | 32 | 45 | 50 | 50 | 42 | 55 |
| EPS in Rs | 28.78 | 33.69 | 31.01 | 19.84 | 28.96 | 35.56 | 37.39 | 26.30 | 37.39 | 41.14 | 40.90 | 34.65 | 44.91 |
Financials of Swaraj Engines
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 540 | 526 | 666 | 771 | 872 | 773 | 987 | 1,138 | 1,422 | 1,419 | 1,682 | 2,007 |
| Expenses + | 465 | 452 | 562 | 650 | 740 | 673 | 851 | 983 | 1,235 | 1,231 | 1,455 | 1,735 |
| Operating Profit | 75 | 74 | 105 | 122 | 132 | 100 | 136 | 155 | 186 | 188 | 227 | 272 |
| OPM % | 14% | 14% | 16% | 16% | 15% | 13% | 14% | 14% | 13% | 13% | 14% | 14% |
| Other Income + | 16 | 16 | 17 | 19 | 15 | 13 | 9 | 10 | 12 | 14 | 16 | 14 |
| 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 |
| Profit before tax | 78 | 76 | 105 | 123 | 127 | 93 | 124 | 147 | 180 | 185 | 223 | 264 |
| Tax % | 33% | 33% | 35% | 35% | 35% | 24% | 26% | 25% | 26% | 25% | 26% | 26% |
| Net Profit + | 52 | 51 | 69 | 80 | 82 | 71 | 93 | 109 | 134 | 138 | 166 | 196 |
| EPS in Rs | 41.74 | 41.31 | 55.43 | 66.05 | 67.95 | 58.55 | 76.24 | 90.14 | 110.00 | 113.50 | 136.64 | 161.57 |
| Dividend Payout % | 79% | 80% | 78% | 76% | 74% | 68% | 91% | 89% | 84% | 84% | 76% | 68% |
Financials of Swaraj Engines
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 200 | 251 | 271 | 216 | 226 | 224 | 268 | 294 | 330 | 356 | 407 | 477 |
| Borrowings + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 1 |
| Other Liabilities + | 113 | 73 | 89 | 119 | 128 | 119 | 178 | 156 | 193 | 187 | 251 | 289 |
| Total Liabilities | 325 | 337 | 372 | 348 | 366 | 355 | 458 | 461 | 536 | 557 | 672 | 779 |
| Fixed Assets + | 84 | 101 | 91 | 92 | 110 | 103 | 92 | 95 | 88 | 76 | 110 | 107 |
| CWIP | 5 | 0 | 1 | 6 | 2 | 4 | 1 | 2 | 2 | 38 | 5 | 55 |
| Investments | 42 | 11 | 49 | 76 | 84 | 111 | 34 | 36 | 26 | 20 | 19 | 19 |
| Other Assets + | 195 | 224 | 231 | 173 | 170 | 136 | 331 | 329 | 420 | 423 | 538 | 598 |
| Total Assets | 325 | 337 | 372 | 348 | 366 | 355 | 458 | 461 | 536 | 557 | 672 | 779 |
Financials of Swaraj Engines
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 56 | 63 | 82 | 89 | 69 | 100 | 28 | 100 | 133 | 142 | 177 | 117 |
| Cash from Investing Activity + | -11 | -14 | -32 | 47 | 4 | -27 | 56 | -48 | -38 | -30 | -58 | 22 |
| Cash from Financing Activity + | -51 | -49 | -49 | -136 | -73 | -73 | -49 | -84 | -97 | -112 | -116 | -128 |
| Net Cash Flow | -6 | 0 | 1 | 1 | -0 | -0 | 36 | -32 | -2 | 1 | 2 | 11 |
| Free Cash Flow | 39 | 36 | 76 | 67 | 35 | 84 | 23 | 82 | 122 | 97 | 152 | 47 |
| CFO/OP | 111% | 118% | 115% | 109% | 86% | 124% | 47% | 89% | 97% | 101% | 103% | 68% |
Financials of Swaraj Engines
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 5 | 5 | 7 | 7 | 8 | 2 | 42 | 33 | 33 | 31 | 38 | 37 |
| Inventory Days | 30 | 26 | 19 | 20 | 26 | 23 | 29 | 25 | 22 | 23 | 22 | 17 |
| Days Payable | 43 | 50 | 52 | 63 | 58 | 61 | 78 | 53 | 53 | 52 | 61 | 58 |
| Cash Conversion Cycle | -9 | -19 | -25 | -35 | -24 | -36 | -7 | 5 | 2 | 2 | -1 | -3 |
| Working Capital Days | -38 | 34 | 54 | 3 | 6 | 2 | 13 | 16 | 17 | 12 | 9 | 32 |
| ROCE % | 37% | 32% | 39% | 47% | 55% | 39% | 48% | 50% | 55% | 52% | 56% | 59% |
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