Arthneeti

Swaraj Engines Q2 FY27 Share Price & Earnings Call Analysis

₹3,448.80+0.34% today
Market cap
₹4,190 Cr
P/E
19.47
ROE
43.61%
PEG
1.37
Price to sales
1.88
Debt to equity
0.00
52W high / low
₹4,104 / ₹3,309
Sales growth (5Y)
15.26%
EBITDA margin
13.39%
Net profit margin
9.86%
Promoter holding
52.11%
Sales (last year)
₹2,243 Cr

Swaraj Engines was established in 1989 it manufactures diesel engines specifically for tractors in the range of 22 HP to above 65 HP and hi-tech engine components. [1] [2] [3]

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Swaraj Engines rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹448 Cr17.9
240%+Up 2%+₹413 Cr12.0
340%+Up 2%+₹324 Cr22.7
440%+Up 0–2%₹1,496 Cr32.8
540%+Up 0–2%₹1,079 Cr12.7
640%+Flat₹827 Cr21.4

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Financials of Swaraj Engines

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Swaraj Engines

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +360400389280351418464346454484504473546
Expenses +312345337247303360401301392417436411471
Operating Profit48555233485863446267686275
OPM %13%14%13%12%14%14%14%13%14%14%14%13%14%
Other Income +4533344456504
Interest0000000000000
Depreciation5554456555665
Profit before tax47555132475861436167675673
Tax %26%26%26%25%25%26%26%25%26%26%26%25%25%
Net Profit +35413824354345324550504255
EPS in Rs28.7833.6931.0119.8428.9635.5637.3926.3037.3941.1440.9034.6544.91

Financials of Swaraj Engines

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +5405266667718727739871,1381,4221,4191,6822,007
Expenses +4654525626507406738519831,2351,2311,4551,735
Operating Profit7574105122132100136155186188227272
OPM %14%14%16%16%15%13%14%14%13%13%14%14%
Other Income +16161719151391012141614
Interest000100000000
Depreciation131416172020201819172022
Profit before tax787610512312793124147180185223264
Tax %33%33%35%35%35%24%26%25%26%25%26%26%
Net Profit +52516980827193109134138166196
EPS in Rs41.7441.3155.4366.0567.9558.5576.2490.14110.00113.50136.64161.57
Dividend Payout %79%80%78%76%74%68%91%89%84%84%76%68%

Financials of Swaraj Engines

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital121212121212121212121212
Reserves200251271216226224268294330356407477
Borrowings +000000001121
Other Liabilities +1137389119128119178156193187251289
Total Liabilities325337372348366355458461536557672779
Fixed Assets +84101919211010392958876110107
CWIP50162412238555
Investments4211497684111343626201919
Other Assets +195224231173170136331329420423538598
Total Assets325337372348366355458461536557672779

Financials of Swaraj Engines

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +566382896910028100133142177117
Cash from Investing Activity +-11-14-32474-2756-48-38-30-5822
Cash from Financing Activity +-51-49-49-136-73-73-49-84-97-112-116-128
Net Cash Flow-6011-0-036-32-21211
Free Cash Flow39367667358423821229715247
CFO/OP111%118%115%109%86%124%47%89%97%101%103%68%

Financials of Swaraj Engines

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days557782423333313837
Inventory Days302619202623292522232217
Days Payable435052635861785353526158
Cash Conversion Cycle-9-19-25-35-24-36-7522-1-3
Working Capital Days-38345436213161712932
ROCE %37%32%39%47%55%39%48%50%55%52%56%59%
21out of 100

Momentum score · price trend

21 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−14.1%43%
Last 6 months−13.8%31%
Last 3 months−5.3%57%

The price is 23.6% below its all-time high of ₹4,497.5 (23 Sept 2025). Stocks more than 20% below their peak have their score halved, so 41 became 21.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Swaraj Engines: 0.4 × 43 + 0.4 × 31 + 0.2 × 57 = 41, halved to 21 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Swaraj Engines's management said in earlier quarters

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