Swaraj Engines Limited share price
Swaraj Engines Limited manufactures and sells diesel engines and its components, hi-tech engine components, and spare parts for tractor application in India. The company was incorporated in 1985 and is based in Mohali, India. Swaraj Engines Limited is a subsidiary of Mahindra & Mahindra Limited.Read more
- Market Cap₹ 4,270 Cr.
- Current Price₹ 3,514.40
- High / Low₹ 4,394 / 3,301
- Stock P/E20.1
- Book Value₹ 388
- Dividend Yield3.12 %
- ROCE52.8 %
- ROE43.20 %
- Face Value₹ 10.0
More figures (10)
- EPS (TTM)₹ 175.09
- Price / Book9.06
- OPM12.5 %
- Debt / Equity0.00
- Sales growth (5Y)15.3 %
- Profit growth (5Y)16.2 %
- Promoter holding57.4 %
- EV / EBITDA13.9
- Beta0.37
- All-time high₹ 4,720
Price chart
| Returns | 1M | 3M | 6M | YTD | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| SWARAJENG | -0.30% | -5.82% | -14.14% | -1.76% | -14.69% | +20.88% | +14.92% |
| Nifty 50 | -0.31% | -3.85% | -4.34% | -11.42% | -9.53% | +5.46% | +4.76% |
Price returns only (dividends not included). Prices from NSE via Yahoo Finance; may be delayed.
Quick take
- Swaraj Engines Limited is in the Farm & Heavy Construction Machinery industry (Industrials), with a market value of ₹4,270 crore.
- It trades at 20.1 times its last 12 months' earnings and 9.1 times book value.
- Revenue grew 15.3% a year over the last 5 years, profit 16.2% a year.
- Return on equity was 43.2% and return on capital employed 52.8% in the latest year.
- Debt was 0.00 times shareholders' equity.
- The share price is 20.0% below its 52-week high and down 14.7% over one year.
- Promoters and insiders hold about 57.4%; institutions about 8.7%.
Pros
AI- Strong return on equity: 41.4% on average over the last 3 years.
- Company is almost debt-free (debt is 0.00 times equity).
- Sales have grown 15.3% a year over the last 5 years.
- Latest quarter (Sep 2026): sales up 26% and profit up 22% from a year ago.
- Trades at 20.1 times earnings, below its 3-year median of 24.7.
Cons
AI- Trades at 9.1 times its book value.
Pros and cons are generated automatically from the reported figures. They are observations, not a recommendation to buy or sell.
AI analysis
Plenitude AI reads the figures on this page and explains them in plain language. It does not say whether to buy or sell.
About Swaraj Engines Limited
Swaraj Engines Limited manufactures and sells diesel engines and its components, hi-tech engine components, and spare parts for tractor application in India. The company was incorporated in 1985 and is based in Mohali, India. Swaraj Engines Limited is a subsidiary of Mahindra & Mahindra Limited.
- Employees
- 294
- Head office
- Mohali
Peer comparison
IndustrialsFarm & Heavy Construction Machinery
| S.No. | Company | CMP ₹ | P/E | Mar Cap ₹ Cr | Div Yld % | NP Qtr ₹ Cr | Qtr Profit Var % | Sales Qtr ₹ Cr | Qtr Sales Var % | ROCE % | ROE % | P/B | OPM % | Debt / Eq | Prom. Hold. % | Sales ₹ Cr | Sales Var 3Yrs % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Swaraj Engines | 3,514.40 | 20.1 | 4,270 | 3.12 | 61 | 21.92 | 635 | 26.02 | 52.8 | 43.2 | 9.06 | 12.5 | 0.00 | 57.39 | 2,007 | 15.3 |
| 2. | Ashok Leyland | 148.91 | 25.2 | 87,468 | 2.36 | 616 | 0.78 | 13,020 | 11.70 | 14.5 | 26.2 | 6.14 | 19.6 | 4.49 | 36.36 | 56,076 | 10.6 |
| 3. | Escorts Kubota | 2,751.00 | 21.9 | 30,269 | 1.21 | 386 | 21.20 | 3,208 | 31.19 | 14.4 | 21.1 | 2.49 | 10.9 | 0.01 | 74.51 | 11,414 | 11.3 |
| 4. | Action Construction Equipment | 1,136.30 | 31.0 | 13,525 | 0.17 | 119 | 0.78 | 786 | -18.24 | 28.5 | 22.9 | 6.72 | 14.8 | 0.00 | 66.81 | 3,278 | 15.0 |
| 5. | Olectra Greentech | 1,066.30 | 49.3 | 8,752 | 0.06 | 26 | -0.30 | 576 | 65.75 | 19.4 | 15.6 | 7.13 | 12.4 | 0.31 | 50.27 | 2,308 | 28.4 |
| 6. | Indef Manufacturing | 201.18 | 27.4 | 644 | 1.00 | 5 | -3.00 | 34 | -13.20 | 8.8 | 9.0 | 2.39 | 8.3 | 0.02 | 77.47 | 208 | — |
| Median: 6 Co. | 1,101.30 | 26.3 | 11,139 | 1.11 | 90 | 0.78 | 710 | 18.86 | 17.0 | 22.0 | 6.43 | 12.5 | 0.02 | 62.10 | 2,793 | 15.0 |
Companies in the same industry; the median covers every company in it that we hold figures for. Tap a heading to sort. Sorting and comparing are ways to explore data, not recommendations.
Quarterly Results
Standalone figures in ₹ crore
Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Latest quarter on the right.
Profit & Loss
Standalone figures in ₹ crore
Projection — your assumptions
Starts from the last four reported quarters (TTM) and applies the figures you enter; growth is pre-filled with the company's own 3-year sales growth. This is a what-if calculator for illustration, not a forecast, estimate or recommendation.
Related party transactions
Related-party transactions are dealings with promoters, directors, subsidiaries and associates. Companies disclose them to the exchanges every half-year and in detail in the notes to their annual report.
- Related Party TransactionsPursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, please find enclosed herewith disc…21-Oct-2024
- Related Party TransactionsPursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, please find enclosed herewith disc…18-Apr-2024
- Related Party TransactionsPursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, please find enclosed herewith disc…25-Oct-2023
- Related Party TransactionsPursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, please find enclosed herewith disc…27-Apr-2023
- Related Party TransactionPursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, please find enclosed herewith disc…14-Nov-2022
- Related Party TransactionPursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, please find enclosed herewith disc…11-May-2022
- Related Party TransactionsPursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith discl…11-May-2021
- Related Party TransactionsSwaraj Engines Limited has informed the Exchange about related Party Transactions19-Nov-2020
- Related Party TransactionsSwaraj Engines Limited has informed the Exchange that Pursuant to Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) …27-May-2020
- Related Party TransactionsSwaraj Engines Limited has informed the Exchange regarding Disclosure of Related Party transactions Pursuant to Regulation 23(9) of the Securities and Exchange Board of India (Lis…07-Nov-2019
Full details: notes to the Financial Year 2026 annual report (related party disclosures).
| ₹ Cr | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| 872 | 773 | 987 | 1,138 | 1,422 | 1,419 | 1,682 | 2,007 | 2,243 | |
| YOY Sales Growth % | -11.29% | 27.58% | 15.36% | 24.92% | -0.18% | 18.51% | 19.34% | ||
| 740 | 673 | 851 | 983 | 1,235 | 1,231 | 1,455 | 1,735 | 1,942 | |
| Material Cost % | 75% | 77% | 78% | 78% | 80% | 79% | 79% | 78% | 78% |
| Employee Cost % | 5% | 5% | 4% | 4% | 3% | 3% | 3% | 3% | 3% |
| Other Expenses % | 5% | 5% | 4% | 4% | 4% | 5% | 5% | 6% | 6% |
| Operating Profit | 132 | 100 | 136 | 155 | 186 | 188 | 227 | 272 | 300 |
| OPM % | 15% | 13% | 14% | 14% | 13% | 13% | 14% | 14% | 13% |
| 15 | 13 | 9 | 10 | 12 | 14 | 16 | 18 | 13 | |
| Exceptional items | -3 | -3 | |||||||
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Depreciation | 20 | 20 | 20 | 18 | 19 | 17 | 20 | 22 | 23 |
| Profit before tax | 127 | 93 | 124 | 147 | 180 | 185 | 223 | 264 | 286 |
| 35% | 24% | 26% | 25% | 26% | 25% | 26% | 26% | 26% | |
| Current tax | 44 | 25 | 36 | 38 | 48 | 48 | 58 | 69 | |
| Deferred tax | 1 | -3 | -4 | -1 | -1 | -1 | -0 | -2 | |
| 82 | 71 | 93 | 109 | 134 | 138 | 166 | 196 | 213 | |
| Minority share | 82 | ||||||||
| YOY Profit Growth % | -13.81% | 30.26% | 18.29% | 22.05% | 3.19% | 20.39% | 18.27% | ||
| EPS in Rs | 67.96 | 58.57 | 76.27 | 90.17 | 110.02 | 113.50 | 136.64 | 161.60 | 175.13 |
| Dividend Payout % | 73% | 81% | 70% | 65% |
Compounded Sales Growth
- 5 Years:
- 15%
- 3 Years:
- 12%
- TTM:
- 25%
Compounded Profit Growth
- 5 Years:
- 16%
- 3 Years:
- 14%
- TTM:
- 20%
Stock Price CAGR
- 5 Years:
- 15%
- 3 Years:
- 21%
- 1 Year:
- -15%
Return on Equity
- 4 Years:
- 41%
- Last Year:
- 43%
Financial years ending March; TTM = the last four quarters. Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Dividend payout = dividends paid in the year ÷ net profit.
Balance Sheet
Consolidated figures in ₹ crore, as at 31 March
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 |
| Reserves | 330 | 356 | 407 | 477 |
| Borrowings | 1 | 1 | 2 | 2 |
| 193 | 187 | 251 | 288 | |
| Trade payables | 163 | 156 | 217 | 242 |
| Current liabilities | 186 | 180 | 244 | 279 |
| Total Liabilities | 536 | 557 | 672 | 779 |
| 89 | 113 | 115 | 161 | |
| Gross block | 253 | 264 | 282 | 342 |
| Accumulated depreciation | 164 | 151 | 167 | 180 |
| Goodwill & intangibles | 0 | 0 | 0 | 0 |
| CWIP | 2 | 38 | 5 | 55 |
| 445 | 406 | 552 | 563 | |
| Inventories | 70 | 71 | 78 | 75 |
| Trade receivables | 128 | 120 | 177 | 206 |
| Cash & equivalents | 4 | 4 | 7 | 17 |
| Current assets | 389 | 421 | 478 | 574 |
| Total Assets | 536 | 557 | 672 | 779 |
Source: Yahoo Finance (compiled from the annual reports). Tap a row marked + for its breakdown.
Cash Flows
Consolidated figures in ₹ crore, financial years ending March
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 133 | 142 | 177 | 117 | |
| Profit for the year | 134 | 138 | 166 | 196 |
| Working capital changes | -6 | 1 | 6 | -83 |
| Direct taxes paid | -48 | -47 | -58 | -69 |
| -38 | -30 | -58 | 22 | |
| Fixed assets purchased | -13 | -48 | -24 | -70 |
| Fixed assets sold | 2 | 2 | 0 | 0 |
| Investments purchased | -44 | -87 | -10 | |
| Investments sold | 12 | 33 | 3 | 106 |
| -97 | -112 | -116 | -128 | |
| Interest paid | -0 | -0 | -0 | -0 |
| Dividends paid | -97 | -112 | -115 | -127 |
| Net Cash Flow | -2 | 1 | 2 | 11 |
| Free Cash Flow | 120 | 95 | 152 | 47 |
Free cash flow = cash from operations − capital expenditure. Source: Yahoo Finance.
Ratios
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| ROE | — | 39.0% | 38.8% | 42.1% | 43.2% |
| ROCE | — | 51.4% | 49.2% | 52.2% | 52.8% |
| Operating margin | — | 11.9% | 12.1% | 12.4% | 12.5% |
| Net margin | — | 9.4% | 9.8% | 9.9% | 9.8% |
| Debt / equity | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Current ratio | — | 2.09 | 2.34 | 1.96 | 2.06 |
| Debtor days | — | 33 | 31 | 39 | 38 |
| Inventory days | — | 22 | 23 | 21 | 17 |
| Days payable | — | 52 | 50 | 59 | 56 |
| Cash conversion cycle | — | 3 | 4 | 1 | -1 |
| Working capital days | — | 52 | 62 | 51 | 54 |
Computed from the reported statements: ROE on average equity; ROCE = EBIT / (total assets − current liabilities). Debtor days = receivables ÷ sales × 365; inventory and payable days use cost of goods sold; cash conversion cycle = debtor + inventory − payable days; working capital days = (current assets − current liabilities) ÷ sales × 365.
Shareholding Pattern
Numbers in percentages · as filed with NSE each quarter
- Promoters 52.11%
- FIIs 2.43%
- DIIs 8.78%
- Public 36.68%
| % | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 52.12% | 52.12% | 52.12% | 52.12% | 52.12% | 52.12% | 52.12% | 52.12% | 52.12% | 52.12% | 52.11% | 52.11% |
| 2.61% | 2.70% | 2.55% | 2.85% | 3.23% | 3.35% | 3.48% | 3.72% | 3.93% | 3.15% | 2.82% | 2.43% | |
| Foreign portfolio investors (Cat. I) | 1.58% | 1.67% | 1.56% | 1.87% | 2.13% | 2.23% | 2.26% | 2.43% | 2.59% | 2.81% | 2.68% | 2.41% |
| Foreign portfolio investors (Cat. II) | 1.02% | 1.04% | 0.99% | 0.99% | 1.10% | 1.12% | 1.21% | 1.30% | 1.34% | 0.34% | 0.14% | 0.02% |
| 9.33% | 9.84% | 10.36% | 9.66% | 9.71% | 9.77% | 9.89% | 9.32% | 9.65% | 9.73% | 9.09% | 8.78% | |
| Mutual funds | 8.35% | 8.86% | 9.38% | 8.68% | 8.73% | 8.77% | 8.89% | 8.32% | 8.65% | 8.70% | 8.07% | 7.78% |
| Insurance companies | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% |
| Alternative investment funds | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.10% | 0.10% | 0.10% | 0.10% | 0.14% | 0.12% | 0.10% |
| 35.94% | 35.34% | 34.97% | 35.36% | 34.94% | 34.76% | 34.51% | 34.84% | 34.30% | 35.00% | 35.98% | 36.68% | |
| Retail (up to ₹2 lakh) | 22.82% | 20.76% | 20.38% | 20.68% | 20.39% | 20.44% | 20.48% | 21.35% | 21.31% | 21.75% | 22.43% | 23.27% |
| HNIs (above ₹2 lakh) | 7.82% | 7.76% | 7.76% | 7.84% | 7.74% | 7.63% | 7.63% | 6.90% | 6.51% | 6.51% | 6.52% | 6.52% |
| NRIs | 2.26% | 2.23% | 2.20% | 2.11% | 2.02% | 2.15% | 1.90% | 1.92% | 1.90% | 1.92% | 2.17% | 1.99% |
| Bodies corporate | 2.03% | 1.93% | 1.95% | 2.04% | 2.07% | 1.86% | 1.90% | 1.93% | 1.87% | 2.04% | 2.09% | 2.16% |
| IEPF | 0.53% | 0.52% | 0.52% | 0.52% | 0.53% | 0.52% | 0.52% | 0.52% | 0.53% | 0.53% | 0.51% | 0.50% |
| No. of Shareholders | 28,030 | 26,976 | 27,146 | 29,241 | 30,207 | 31,736 | 31,903 | 36,487 | 36,980 | 37,905 | 38,470 | 41,234 |
Source: shareholding patterns filed by the company with NSE. Public = non-institutional holders. Tap a row marked + for its breakdown.
Mutual funds & institutions holding Swaraj Engines
| Holder (above 1%) | Stake |
|---|---|
| DSP Small Cap FundMutual fund | 6.02% |
| Parag Parikh Conservative Hybrid FundMutual fund | 1.75% |
As named in the shareholding pattern for Jun 2026 filed with NSE; mutual funds together hold 7.78% of the company. Shareholders below 1% are not named in the filing.
Documents
Announcements
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Please find enclosed herewith the certificate received from MCS Share Transfer Agent Ltd., the Registrar and Share Transfer Agent of the Company, confirming the compliance of Regu…13-Oct-2026
- Copy of Newspaper PublicationPursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith copies of the Unaudited Financial Results,…13-Oct-2026
- UpdatesAmendment to the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information12-Oct-2026
- Outcome of Board MeetingThis is to inform that Board of Directors of Swaraj Engines Limited in their meeting held today on 12th October, 2026 has approved the Unaudited Financial Results of the Company f…12-Oct-2026
- Trading WindowSwaraj Engines Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 201501-Oct-2026
- Copy of Newspaper PublicationIn compliance with the Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI LODR ), please find enclosed herewith copies of the Not…23-Sep-2026
- Shareholders meetingPursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of the Postal Ballot Notice ( Notic…22-Sep-2026
- Copy of Newspaper PublicationSPECIAL WINDOW FOR TRANSFER AND DEMATERIALISATION OF PHYSICAL SHARES19-Sep-2026
- RetirementWe wish to inform you that, the Shareholders of the Company had approved the appointment of Mr. Devjit Sarkar (DIN: 10745850) as Director and also as Whole Time Director designate…01-Sep-2026
- CessationWe wish to inform you that, the Shareholders of the Company had approved the appointment of Mr. Devjit Sarkar (DIN: 10745850) as Director and also as Whole Time Director designate…01-Sep-2026
- AppointmentThis is to inform that based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of Swaraj Engines Limited ( the Company ) at its meeting he…31-Aug-2026
- Change in Managementappointment of Mr. Sanjay Kshirsagar (DIN: 11745844) as Whole Time Director designated as Whole Time Director and Chief Executive Officer of the Company and Key Managerial Personn…31-Aug-2026
Annual reports
- Financial Year 202619-JUN-2026
- Financial Year 202519-JUN-2025
- Financial Year 2024
- Financial Year 2023
- Financial Year 2022
- Financial Year 2021
- Financial Year 2020
- Financial Year 2019
- Financial Year 201810-AUG-2018
- Financial Year 201704-AUG-2017
Credit ratings
None filed recently.
Concalls & investor meets
None filed recently.
Filings made by the company with NSE; documents open on NSE's website.
Key dates
- Ex-dividend date
- 3 Jul 2026
- Latest quarter
- 30 Sep 2026
- Financial year end
- 31 Mar 2026
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Latest news
In the news
From the company (NSE)
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Please find enclosed herewith the certificate received from MCS Share Transfer Agent Ltd., the Registrar and Share Transfer Agent of the Company, confirming the compliance of Regu…NSE filing · 13-Oct-2026
- Copy of Newspaper PublicationPursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith copies of the Unaudited Financial Results,…NSE filing · 13-Oct-2026
- UpdatesAmendment to the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive InformationNSE filing · 12-Oct-2026
- Outcome of Board MeetingThis is to inform that Board of Directors of Swaraj Engines Limited in their meeting held today on 12th October, 2026 has approved the Unaudited Financial Results of the Company f…NSE filing · 12-Oct-2026
- Trading WindowSwaraj Engines Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015NSE filing · 01-Oct-2026
- Copy of Newspaper PublicationIn compliance with the Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI LODR ), please find enclosed herewith copies of the Not…NSE filing · 23-Sep-2026
- Shareholders meetingPursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of the Postal Ballot Notice ( Notic…NSE filing · 22-Sep-2026
- Copy of Newspaper PublicationSPECIAL WINDOW FOR TRANSFER AND DEMATERIALISATION OF PHYSICAL SHARESNSE filing · 19-Sep-2026
Headlines from news publishers (via Google News) and the filings of the company with NSE; they open on the source website. Headlines with price targets or buy/sell calls are left out. News is for information only and is not a recommendation.
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