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Q2 FY27 PAT Rises 21.9% to ₹60.57 Cr; Revenue Up 26% to ₹635.19 Cr
Swaraj Engines reported a strong performance for Q2 FY27 with net operating revenue growing 26.0% YoY to ₹635.19 crore, compared to ₹504.04 crore in Q2 FY26. Profit after tax rose 21.9% YoY to ₹60.57 crore, driven by a 19.6% volume growth with 61,216 engine units sold. Operating profit for the quarter increased 27.1% to ₹86.45 crore, leading to an EPS of ₹49.86 versus ₹40.89 a year ago. For H1 FY27, total engine sales reached 118,019 units (+17.8% YoY) generating ₹116.10 crore in net profit.
Confidence: HIGH
What changedSwaraj Engines approved and released its unaudited financial results for Q2 and H1 FY27, posting its highest-ever quarterly PBT and PAT.
Why it mattersDemonstrates healthy operational leverage and robust demand from Mahindra & Mahindra's Swaraj tractor division, supporting steady margin preservation.
Q2 FY27 Revenue: Rs. 635.19 croresQ2 FY27 PAT: RS.60.57 croresQ2 Engine Volume: 61,216 unitsH1 FY27 Revenue: Rs. 1223.58 croresQ2 Revenue vs TTM Revenue: ~30.1%
📅 Short termSolid operational results with volume growth approaching 20% should support near-term sentiment following recent share price pullbacks.
📈 Long termThe company's lean cost structure, zero debt, and high ROCE (~59%) sustain healthy cash generation, though earnings remain tied to cyclical tractor demand.
⚠ Risk flags
- High client concentration with Mahindra & Mahindra as the sole major customer
- Agri-demand sensitivity to rural cash flows and monsoon cycles
Key Highlights
Net Operating Revenue up 26.0% YoY to ₹635.19 crore in Q2 FY27
Profit After Tax reached ₹60.57 crore, registering a 21.9% YoY growth
Engine sales volume grew 19.6% YoY to 61,216 units in Q2 FY27
Operating profit rose 27.1% YoY to ₹86.45 crore compared to ₹68.03 crore in Q2 FY26
H1 FY27 PAT expanded 16.5% YoY to ₹116.10 crore on revenue of ₹1223.58 crore
👀 What to Watch
Track upcoming monthly tractor sales volumes from parent/key client Mahindra & Mahindra to gauge second-half engine demand momentum.
Swaraj Engines: Devjit Sarkar Ceases to be WTD & CEO Effective September 1, 2026
Swaraj Engines Limited announced that Mr. Devjit Sarkar (DIN: 10745850) has completed his approved tenure as Director and Whole Time Director & Chief Executive Officer on August 31, 2026. Consequently, he ceased to hold office as Director and Whole Time Director effective September 1, 2026. His appointment was originally approved for a 2-year term from September 1, 2024, to August 31, 2026. The announcement does not disclose the immediate successor for the CEO position.
Confidence: HIGH
What changedMr. Devjit Sarkar ceased to hold office as Director and Whole Time Director & CEO upon the scheduled completion of his 2-year term.
Why it mattersThe CEO role is critical for managing operations, cost structures, and coordination with Mahindra & Mahindra, which is the primary buyer of Swaraj's tractor engines.
Tenure start date: 1st September, 2024Tenure completion date: 31st August, 2026Cessation effective date: 1st September, 2026
📅 Short termOperational continuity is generally supported by the promoter Mahindra & Mahindra ecosystem, but markets will look for clarity on leadership succession.
📈 Long termLimited operational disruption expected given the established engine supply agreements and deep integration with M&M's tractor business.
⚠ Risk flags
- Leadership transition risk pending appointment of new CEO
Key Highlights
Devjit Sarkar's 2-year tenure ended on 31st August, 2026
Cessation as Director and Whole Time Director & CEO effective 1st September, 2026
Original term was approved from 1st September, 2024 to 31st August, 2026
Company manages ₹2,111 Cr in TTM revenue with 13.3% operating margins
👀 What to Watch
Track subsequent exchange filings for the appointment of a new CEO/Whole Time Director to oversee operations and supply chain alignment with primary customer Mahindra & Mahindra.
Swaraj Engines: WTD & CEO Devjit Sarkar Ceases Office Effective Sept 1, 2026 on Tenure Completion
Swaraj Engines Limited has announced that Mr. Devjit Sarkar has ceased to hold office as Director and Whole Time Director & Chief Executive Officer effective 1st September, 2026. This cessation comes upon the completion of his approved two-year tenure, which ran from 1st September, 2024 to 31st August, 2026. The company, which generated TTM revenue of ₹2,111 crore and TTM net profit of ₹203 crore, has not announced an immediate successor in this specific disclosure.
Confidence: HIGH
What changedMr. Devjit Sarkar's tenure as Whole Time Director & CEO ended on 31st August, 2026, leading to his cessation from the board on 1st September, 2026.
Why it mattersAs Swaraj Engines is deeply integrated with primary customer Mahindra & Mahindra, executive leadership transitions are important for maintaining operational efficiency and supply-chain alignment.
Cessation date: 1st September, 2026Tenure start date: 1st September, 2024Tenure end date: 31st August, 2026
📅 Short termNeutral impact expected as this marks a scheduled completion of term rather than an abrupt resignation.
📈 Long termLimited operational disruption expected given the strong institutional backing and tight integration with Mahindra & Mahindra.
⚠ Risk flags
- Succession transition risk pending announcement of new CEO
Key Highlights
Mr. Devjit Sarkar ceases to hold office as WTD & CEO effective 1st September, 2026
Completed his shareholder-approved tenure spanning 1st September, 2024 to 31st August, 2026
Director Identification Number (DIN) noted as 10745850 in the regulatory filing
👀 What to Watch
Track subsequent exchange filings for the appointment of the next Chief Executive Officer and leadership continuity details.
Swaraj Engines Appoints Sanjay Kshirsagar as WTD & CEO for 3-Year Term
Swaraj Engines has appointed Mr. Sanjay Kshirsagar as Whole Time Director and Chief Executive Officer (CEO) for a 3-year term effective September 1, 2026, to August 31, 2029, subject to shareholder approval. Mr. Kshirsagar brings over 34 years of manufacturing experience, including 25 years at Mahindra & Mahindra (M&M), where he oversaw engine plants and led ~3X volume ramp-ups over five years. The leadership change reinforces operational integration with M&M, the company's anchor customer and promoter.
Confidence: HIGH
What changedMr. Sanjay Kshirsagar has been appointed as Additional Director and Whole Time Director & CEO for 3 years starting September 1, 2026.
Why it mattersGiven the company's high customer concentration with M&M, bringing a senior M&M engine manufacturing veteran to lead Swaraj Engines strengthens strategic alignment and production efficiencies.
Term of appointment: 3 (Three) yearsEffective start date: 1st September, 2026Total industry experience: 34+ yearsTenure at M&M: 25 years
📅 Short termTransition is expected to be seamless as Mr. Kshirsagar was already serving as CEO (Designate).
📈 Long termStrengthens manufacturing capabilities, lean operations, and supply chain alignment with M&M's tractor engine roadmap.
⚠ Risk flags
- Pending shareholder approval
- High client concentration risk with Mahindra & Mahindra as the primary buyer
Key Highlights
Appointment of Mr. Sanjay Kshirsagar as WTD and CEO for a 3-year term from 1st September 2026 to 31st August 2029.
Executive brings 34+ years of experience in manufacturing, including a 25-year tenure across M&M Farm and Automotive divisions.
Prior track record includes scaling M&M engine plant volumes by approximately 3X over 5 years across Chakan and Igatpuri facilities.
👀 What to Watch
Track shareholder approval for the appointment and monitor upcoming quarterly volume trends for operational execution under new leadership.
Swaraj Engines Appoints Sanjay Kshirsagar as WTD & CEO for 3-Year Term
Swaraj Engines Limited has approved the appointment of Mr. Sanjay Kshirsagar as Additional Director and Whole Time Director & Chief Executive Officer (CEO) for a 3-year term from September 1, 2026, to August 31, 2029, subject to shareholder approval. Mr. Kshirsagar brings over 34 years of manufacturing experience, including a 25-year tenure at Mahindra & Mahindra (M&M) where he managed engine plant ramp-ups (~3X over 5 years). Given Swaraj Engines' heavy customer concentration with M&M, this appointment reinforces operational alignment with its parent group.
Confidence: HIGH
What changedSanjay Kshirsagar is appointed as Whole Time Director and CEO of Swaraj Engines for a 3-year term starting September 1, 2026.
Why it mattersBrings deep operational and engine manufacturing leadership from parent company M&M, critical for managing supply chain integration and plant efficiencies.
Tenure of appointment: 3 (Three) yearsEffective start date: 1st September, 2026Effective end date: 31st August, 2029Appointee industry experience: over 34 years
📅 Short termSmooth leadership transition expected as the appointee was already CEO (Designate) and possesses extensive M&M group ecosystem experience.
📈 Long termStrengthens manufacturing execution, lean practices, and deep alignment with M&M tractor engine demand cycles.
⚠ Risk flags
- High customer concentration risk remains tied to M&M tractor sales
Key Highlights
Appointed Mr. Sanjay Kshirsagar as Whole Time Director and CEO for a 3-year term effective September 1, 2026
Appointee has 34+ years of experience, including a 25-year tenure at Mahindra & Mahindra
Previously drove ~3X engine volume ramp-ups over 5 years at M&M's Chakan and Igatpuri plants
Appointment is subject to the approval of company shareholders
👀 What to Watch
Track shareholder voting approval for the appointment and monitor upcoming quarterly operational efficiency and volume growth updates.
Swaraj Engines Appoints Sanjay Kshirsagar as CEO and Whole Time Director for 3-Year Term
Swaraj Engines has approved the appointment of Mr. Sanjay Kshirsagar as Additional Director and Whole Time Director designated as WTD and CEO for a 3-year term effective 1st September, 2026 to 31st August, 2029. Mr. Kshirsagar brings over 34 years of manufacturing experience, including 25 years at Mahindra & Mahindra (M&M), where he previously headed engine plants at Chakan and Igatpuri. The appointment aligns leadership closely with primary customer and promoter group M&M, and is subject to shareholder approval.
Confidence: HIGH
What changedMr. Sanjay Kshirsagar succeeds to the role of Whole Time Director and CEO, transitioning from his prior designation as CEO (Designate).
Why it mattersSwaraj Engines is heavily dependent on M&M for demand; bringing a veteran who scaled M&M engine plants strengthens operational synergies and lean manufacturing execution.
Tenure: 3 (Three) yearsEffective date: 1st September, 2026Experience: 34 yearsMahindra tenure: 25- year
📅 Short termSmooth leadership transition expected given his background as CEO (Designate) and deep familiarity with M&M's engine supply ecosystem.
📈 Long termReinforces operational alignment with primary buyer M&M, supporting productivity, manufacturing digitization, and capacity utilization across tractor engine lines.
⚠ Risk flags
- High client concentration with Mahindra & Mahindra Ltd
Key Highlights
Appointed as Whole Time Director and CEO for a 3-year tenure from 1st September, 2026 to 31st August, 2029
Over 34 years of experience in projects and manufacturing, including a 25-year tenure at Mahindra & Mahindra
Previously led M&M engine plants at Chakan and Igatpuri, delivering an estimated 3X volume ramp-up over five years
Board meeting approving the appointment concluded at 2:30 P.M. on 31st August, 2026
👀 What to Watch
Track subsequent shareholder voting for the appointment approval and monitor upcoming quarterly commentary for strategic operational updates under the new CEO.
11.1% PAT Growth; Swaraj Engines Reports Record Quarterly Sales of 56,803 Units
Swaraj Engines reported a strong Q1 FY27 with its highest-ever quarterly engine sales of 56,803 units, a 15.8% YoY increase. Revenue from operations grew 21.5% to ₹588.39 crore, while Profit After Tax (PAT) rose 11.1% to ₹55.53 crore. Despite the revenue growth, EBITDA margins saw a slight compression to 13.0% from 13.9% in the previous year's quarter. The company continues to benefit from robust demand in the tractor segment, specifically from its primary customer, Mahindra & Mahindra.
Confidence: HIGH
What changedThe company achieved record quarterly volumes and crossed a significant cumulative production milestone of 2 million engines.
Why it mattersDemonstrates strong operational execution and alignment with the growth of the Indian tractor industry, maintaining high profitability (ROCE 59%) and zero debt.
Engine Sales: 56,803 unitsRevenue Growth (YoY): 21.5%PAT Growth (YoY): 11.1%Q1 Revenue vs TTM Revenue: 29.3%EBITDA Margin: 13.0%
📅 Short termPositive sentiment is expected due to record sales volumes and healthy top-line growth in the first quarter.
📈 Long termStructural growth remains tied to tractor mechanization in India; the company's lean cost structure and zero-debt status provide a strong financial base.
⚠ Risk flags
- High client concentration with Mahindra & Mahindra
- Sensitivity to monsoon performance
- Slight YoY EBITDA margin compression
Key Highlights
Highest ever quarterly engine sales volume of 56,803 units, up 15.8% YoY from 49,040 units.
Revenue from operations reached ₹588.39 crore, representing approximately 29.3% of TTM revenue.
Profit After Tax (PAT) increased 11.1% YoY to ₹55.53 crore from ₹49.97 crore.
Cumulative sales volume crossed the 2 million mark since inception.
Operating Profit (EBITDA) grew 14.4% to ₹76.76 crore compared to ₹67.10 crore in the previous year.
👀 What to Watch
Monitor the monsoon progress and its impact on tractor demand for the upcoming festive season, as the company's growth is highly correlated with Mahindra & Mahindra's tractor sales.
Swaraj Engines FY26 PAT Rises 18% to ₹196.3 Cr; Announces ₹110 Dividend per Share
Swaraj Engines reported a strong financial performance for FY 2025-26, with net operating revenue crossing the ₹2,000 crore milestone for the first time. Profit After Tax (PAT) grew by 18.3% year-on-year to ₹196.31 crores, driven by record engine sales of 202,771 units. The company has recommended a substantial dividend of ₹110 per share (1100% on face value), with the 40th AGM scheduled for July 20, 2026.
Key Highlights
Net Operating Revenue increased 19.3% YoY to ₹2,007.13 crores in FY26.
Engine sales volume reached a record high of 202,771 units, up from 168,820 in the previous year.
Profit After Tax (PAT) rose to ₹196.31 crores with an Earnings Per Share (EPS) of ₹161.60.
Board recommended a dividend of ₹110 per share, totaling a payout of ₹133.65 crores.
Return on Net Worth (RoNW) improved to 40.2%, maintaining a 5-year PAT CAGR of 15.7%.
👀 What to Watch
Investors should note the record date of July 3, 2026, to be eligible for the ₹110 dividend. The company's consistent growth and high return ratios make it a strong long-term play in the agricultural machinery sector.
Swaraj Engines FY26 Net Profit Rises 18% to ₹196.3 Cr; Recommends ₹110 Dividend
Swaraj Engines reported a robust performance for FY26, with annual revenue growing 19.3% to ₹2,007.1 crore. Net profit for the full year increased by 18.3% to ₹196.3 crore, driven by strong demand in the fourth quarter where profit grew 20.1% YoY. Reflecting strong cash flows, the board has recommended a high dividend of ₹110 per share (1100%). The company also announced a transition in the Compliance Officer role effective June 2026.
Key Highlights
FY26 Revenue from operations increased to ₹2,007.1 crore from ₹1,681.9 crore in the previous year.
Annual Net Profit reached ₹196.3 crore compared to ₹166.0 crore in FY25, with EPS rising to ₹161.60.
Board recommended a final dividend of 1100% or ₹110 per equity share for FY26.
Q4 FY26 Revenue grew 20.2% YoY to ₹545.8 crore, while Q4 Net Profit rose to ₹54.6 crore.
Record date for the dividend and the 40th Annual General Meeting is fixed as July 3, 2026.
👀 What to Watch
The stock remains a strong pick for dividend-seeking investors given the ₹110 per share payout and consistent double-digit earnings growth. Investors should monitor tractor industry trends as the company's performance is closely tied to agricultural demand.
Swaraj Engines FY26 PAT Jumps 18% to ₹196 Cr; Recommends ₹110 Dividend (1100%)
Swaraj Engines reported a strong financial performance for FY26, with revenue from operations growing 19.3% to ₹2,007.1 crore. Net profit for the year increased by 18.3% to ₹196.3 crore, supported by an improved EPS of ₹161.60 compared to ₹136.64 in the previous year. The Board has recommended a substantial equity dividend of 1100% (₹110 per share), with the record date set for July 3, 2026. The company also announced a management change with Mr. Nayan Jain taking over as Compliance Officer in June 2026.
Key Highlights
Annual Revenue from Operations rose 19.3% YoY to ₹2,007.13 crore in FY26.
Net Profit for the full year increased to ₹196.31 crore from ₹165.98 crore in FY25.
Recommended a massive equity dividend of 1100% (₹110 per share) for the financial year.
Q4 FY26 PAT stood at ₹54.56 crore, representing a 20% growth over Q4 FY25.
Record date for dividend eligibility is fixed as July 3, 2026, with payment after July 20.
👀 What to Watch
Investors should consider the strong earnings growth and high dividend yield as positive indicators of the company's cash flow health. The stock remains a solid pick for income-focused portfolios given the ₹110 per share payout.
Swaraj Engines FY26 Net Profit Up 18% to ₹196 Cr; Recommends ₹110 Dividend
Swaraj Engines delivered a robust performance for the fiscal year ended March 31, 2026, with total revenue reaching ₹2,007.1 crore, a 19.3% YoY increase. Net profit for the year rose 18.3% to ₹196.3 crore, while Q4 profit specifically grew 20.1% YoY to ₹54.6 crore. A high dividend of 1100% (₹110 per share) has been recommended, maintaining the company's reputation for strong shareholder payouts. The board also approved the appointment of Mr. Nayan Jain as the new Compliance Officer and KMP effective June 13, 2026.
Key Highlights
FY26 Revenue from Operations rose 19.3% to ₹2,007.1 crore from ₹1,681.9 crore in FY25
Annual Net Profit stood at ₹196.3 crore with a strong Basic EPS of ₹161.60
Board recommended a massive dividend of 1100% (₹110 per share) for the financial year
Q4 FY26 Revenue grew 20.2% YoY to ₹545.8 crore, indicating strong year-end momentum
Profit Before Tax for the full year increased to ₹263.6 crore compared to ₹223.1 crore in the previous year
👀 What to Watch
The strong earnings growth coupled with a high dividend yield makes this an attractive proposition for value-seeking investors. Shareholders should note the record date of July 3, 2026, to be eligible for the ₹110 per share dividend.
Swaraj Engines FY26 Net Profit Up 18% to ₹196 Cr; Declares ₹110 Dividend
Swaraj Engines reported a strong financial performance for the fiscal year ended March 31, 2026, with annual revenue growing 19.3% to ₹2,007 crore. Net profit for the full year increased by 18.3% to reach ₹196.3 crore, up from ₹166 crore in the previous year. The company maintained its high-payout policy by recommending a substantial dividend of 1100% (₹110 per share). The fourth quarter also showed robust momentum with a 20% year-on-year growth in both revenue and net profit.
Key Highlights
Annual Revenue from Operations increased 19.3% YoY to ₹2,00,713 lakhs in FY26.
Full-year Net Profit rose to ₹19,631 lakhs compared to ₹16,598 lakhs in FY25.
Board recommended a high equity dividend of 1100%, amounting to ₹110 per share.
Q4 FY26 Net Profit stood at ₹5,456 lakhs, a 20.1% increase over Q4 FY25's ₹4,542 lakhs.
Basic Earnings Per Share (EPS) for FY26 improved to ₹161.60 from ₹136.64 in the previous year.
👀 What to Watch
Investors should take note of the strong earnings growth and the high dividend yield, which reinforces the company's cash-rich status. The stock remains attractive for long-term investors looking for steady growth and consistent income through dividends.
Swaraj Engines Board Meeting on April 13 for FY26 Results and Dividend Recommendation
Swaraj Engines Limited has scheduled a Board Meeting on April 13, 2026, to approve the audited financial results for the fiscal year ending March 31, 2026. In addition to the earnings report, the board will consider recommending an equity dividend for the same period. As per regulatory requirements, the trading window for insiders has been closed from April 1 to April 15, 2026. This announcement sets the stage for the company's annual performance disclosure and potential shareholder payouts.
Key Highlights
Board meeting scheduled for April 13, 2026, to approve audited FY26 financial results.
The board will consider and potentially recommend an equity dividend for the financial year.
Trading window for designated persons is closed from April 1, 2026, to April 15, 2026.
The meeting will address the full-year performance ending March 31, 2026.
👀 What to Watch
Investors should monitor the April 13 announcement for the company's full-year growth trajectory and the specific dividend amount. The stock may see volatility leading up to the results based on market expectations of the payout.
Swaraj Engines Appoints Sanjay Kshirsagar as CEO (Designate) Effective April 10, 2026
Swaraj Engines Limited has appointed Mr. Sanjay Kshirsagar as Chief Executive Officer (Designate), effective April 10, 2026. A Mahindra Group veteran with 25 years of service, Mr. Kshirsagar brings over 34 years of experience in manufacturing operations and projects. He is credited with scaling engine production volumes at Mahindra & Mahindra by 3X over the last five years. His expertise in manufacturing AI and digitization is expected to enhance operational efficiencies at Swaraj Engines.
Key Highlights
Mr. Sanjay Kshirsagar appointed as CEO (Designate) and Senior Management Personnel effective April 10, 2026.
Brings 34+ years of experience, including a 25-year tenure at Mahindra Group in various leadership roles.
Successfully drove a 3X volume ramp-up in engine production for M&M's PV and CV segments over the past 5 years.
Expertise in Manufacturing AI, Digitization, and Total Productive Maintenance (TPM) implementation.
Previously managed major engine plants at Chakan and Igatpuri and played a key role in the 2025 MHEL-M&M merger.
👀 What to Watch
Investors should view this leadership transition positively as it brings in a seasoned professional from the parent group with a proven track record of scaling operations. No immediate action is required, but monitor for future updates on production capacity expansions under his leadership.
Swaraj Engines Appoints Sanjay Kshirsagar as CEO (Designate) Effective April 10, 2026
Swaraj Engines Limited has announced the appointment of Mr. Sanjay Kshirsagar as Chief Executive Officer (Designate), effective April 10, 2026. Mr. Kshirsagar brings over 34 years of experience, including a 25-year tenure at Mahindra & Mahindra where he successfully scaled engine production volumes by 3X over the last five years. His background in Manufacturing AI, Digitization, and Lean Manufacturing is expected to enhance the company's operational efficiency. This leadership transition is strategic, given his deep expertise in the engine manufacturing ecosystem of the Mahindra Group.
Key Highlights
Mr. Sanjay Kshirsagar appointed as CEO (Designate) and Senior Management Personnel effective April 10, 2026
Brings 34+ years of experience in projects and manufacturing, with a 25-year tenure at Mahindra & Mahindra
Successfully drove volume ramp-ups by approximately 3X over the past five years at M&M's Chakan and Igatpuri engine plants
Expertise in Manufacturing AI, Digitization, and implementation of TPM and Lean Manufacturing practices
Played a key role in the 2025 merger of Mahindra Heavy Engines Ltd. (MHEL) with M&M
👀 What to Watch
Investors should view this leadership change positively as it brings in a seasoned veteran from the parent group with a proven track record of scaling production. No immediate action is required, but monitor for future operational efficiency improvements.
Swaraj Engines Q3 PAT Rises 31.8% to ₹42.10 Cr; Highest Ever Q3 Sales Volume
Swaraj Engines reported a robust performance for Q3 FY26, with net operating revenue growing 37% YoY to ₹473.20 crores. The company achieved its highest-ever Q3 engine sales volume of 47,563 units, driven by strong demand from Mahindra & Mahindra's Swaraj Division. Profit After Tax (PAT) increased by 31.8% to ₹42.10 crores, even after accounting for a one-time exceptional charge of ₹3.40 crores related to new Labour Code provisions. For the nine-month period ended December 2025, the company posted its highest-ever profit of ₹141.75 crores.
Key Highlights
Highest-ever Q3 engine sales volume of 47,563 units, representing a significant jump from 34,415 units YoY.
Net operating revenue for the quarter grew 37% YoY to ₹473.20 crores.
Profit Before Tax (before exceptional items) rose 39.8% YoY to ₹59.87 crores.
Recognized an exceptional item of ₹3.40 crores for incremental retiral benefits due to the notification of new Labour Codes.
Nine-month PAT reached a record ₹141.75 crores, marking a 17.6% growth over the previous year.
👀 What to Watch
Investors should take note of the record-breaking volume growth which signals strong rural demand; the stock remains a high-conviction play on the tractor industry and its parentage. Maintain a positive outlook given the consistent margin performance and highest-ever nine-month profitability.
Swaraj Engines Q3 PAT Jumps 31.8% to ₹42.1 Cr; Highest Ever Q3 Sales Volume
Swaraj Engines reported a robust performance for Q3 FY26, with net operating revenue growing 37% YoY to ₹473.20 crores. This growth was driven by record engine sales volume of 47,563 units, up 38.2% from the previous year. Despite a ₹3.40 crore exceptional charge related to new labour codes, Profit After Tax (PAT) rose significantly by 31.8% to ₹42.10 crores. For the nine-month period, the company achieved its highest-ever profit of ₹141.75 crores, reflecting sustained demand from its primary customer, Mahindra & Mahindra.
Key Highlights
Q3 Revenue from Operations increased 37% YoY to ₹473.20 crores vs ₹345.50 crores.
Engine sales volume hit a record high of 47,563 units in Q3, up 38.2% YoY.
Profit After Tax (PAT) grew 31.8% YoY to ₹42.10 crores for the quarter.
Nine-month PAT reached a record ₹141.75 crores, a 17.6% increase over the previous year.
Recognized an exceptional item of ₹3.40 crores due to the incremental impact of new Labour Codes on retiral benefits.
👀 What to Watch
The company's record-breaking volumes indicate strong demand in the tractor segment, particularly for the Swaraj brand. Investors should view this as a positive sign of operational efficiency and market leadership, though they should monitor any further regulatory costs related to labour codes.
