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Companies›Industrials›Capital Goods›Industrial Products
NSE:SWARAJENG

SWARAJ ENGINES LTD

Capital Goods › Industrial Products
₹3,430.00
at close · 28 Oct 2026
▼ 10.00 (-0.29%)

Latest filings

  1. Sanjay Kshirsagar appointed Director and Whole-Time Director · Management Changes
  2. Quarterly compliance certificate for share dematerialization filed · Compliance
  3. Q2 FY27 Results Published - Revenue Up 26% YoY, PAT Up 22% · Compliance
All filings ↓
Ask Nexa about SWARAJ ENGINES LTD

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures diesel engines, classified under Compressors, Pumps & Diesel Engines. The business is driven by engine sales — FY26 revenue of Rs 2,007 cr came from selling 202,771 engines, and Q1 FY27 saw 56,803 engines sold, up 15.8% year-on-year. Cumulative engine sales since inception crossed the 2 million mark during Q1 FY27. Mahindra and Mahindra is the promoter and holding company, and the engine programme is tied to M&M's farm-equipment and vehicle volumes, making M&M group the principal off-taker. Materials are the dominant input, accounting for 78.3% of revenue, with employee cost at 2.6% and other operating expenses at 5.6%. The board recommended a Rs 110 per share dividend for FY26, taking total payout to Rs 133.65 cr against FY26 PAT of Rs 196.31 cr.

Operating scale
FY26 engine sales
202,771 unitsFY26
Q1 FY27 engine sales
56,803 unitsQ1 FY27
Cumulative engine sales since inception
Crossed 2 million unitsas of Q1 FY27
FY26 revenue
Rs 2,007.13 crFY26
FY26 PAT
Rs 196.31 crFY26
FY26 dividend declared
Rs 110 per share (1100%); total payout Rs 133.65 crFY26
Who pays it
Mahindra and Mahindra group (promoter and principal off-taker for engines fitted in its tractors and vehicles)
Biggest cost
Materials at 78.3% of revenue (engine blocks, components and bought-out parts)
Kind of business
Single-product diesel engine manufacturer tied to a single large OEM customer
Where it sits
Subsidiary of Mahindra and Mahindra, with engine volumes moving in line with M&M's tractor and equipment demand
Market Cap
₹4,167 Cr
P / E (TTM)
20.6×
EV / EBITDA
14.1×
Div Yield
3.05%
Growth
15.3%▲
Revenue 5y CAGR
PAT +16.2% · EBITDA +14.7%
Quality
51.4%▲
ROCE (5y median)
ROE 39.0% (5y median) · margin 14.3%
Leverage
0.00·
Debt / Equity · low
Net cash ₹17 Cr
Revenue FY21→FY26
2.0×▲
Margin +0.4 pts
₹987 Cr → ₹2,007 Cr
Cash conversion
0.90×·
Operating cash ÷ profit · 5 yrs
₹672 Cr on ₹743 Cr
Moves on a normal day
0.77%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 14 Compressors Pumps & Diesel Engines peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#3/15
P/B#13/15
ROCE#2/15
ROE#2/15
Debt / Equity#1/15
EBITDA margin#9/15
Revenue growth#6/15
Profit growth#8/15

Scorecard

Measured from the filed financials, judged against its Compressors Pumps & Diesel Engines peers · as of FY26 — not investment advice

Strengths
Revenue compounding 15% a year over 5 years
Profit compounding 16% a year over 5 years
Profit grew in every one of the last 5 years
Returns on capital 51.4% (5-year median)
#2 of 15 in Compressors Pumps & Diesel Engines on the latest reported figures · up from 43.4% in FY21
No borrowings on the balance sheet
lower than 79% of its 15 Compressors Pumps & Diesel Engines peers
Pays out 65% of profit as dividend
Concerns
Nothing flagged in the filed numbers.

Charts

How has the market priced it — with filings on the timeline?

SWARAJENG · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from SWARAJ ENGINES LTD's filed financials and exchange disclosures

What does SWARAJ ENGINES LTD do?

SWARAJ ENGINES LTD is a Industrial Products company listed on NSE and BSE, trading under the symbol SWARAJENG.

Is SWARAJ ENGINES LTD profitable?

Yes. Over the trailing twelve months SWARAJ ENGINES LTD reported a net profit of ₹202 Cr on revenue of ₹2,111 Cr.

Does SWARAJ ENGINES LTD pay a dividend?

Yes. The dividend yield is 3.05% at the current price. It paid out 65% of its profit as dividend in FY26.

Is SWARAJ ENGINES LTD debt-free?

Yes. It reported no borrowings on its 31 Mar 2026 balance sheet, and ₹17 Cr of cash.

Is SWARAJ ENGINES LTD expensive compared with its peers?

On trailing P/E, SWARAJ ENGINES LTD ranks 3 of 15 in Compressors Pumps & Diesel Engines — cheaper than 86% of them, against an industry median of 42.2×. This is a position, not a valuation judgement.

How much does the SWARAJ ENGINES LTD share price move in a day?

On a typical session SWARAJ ENGINES LTD moves 0.77% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track SWARAJ ENGINES LTD's announcements?

Every NSE and BSE filing by SWARAJ ENGINES LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.