Swaraj Engines Ltd
NSE: SWARAJENG · Compressors, Pumps & Diesel Engines · sector
₹3,431.80NSE close 2026-10-26
Key numbers
Market cap₹4,170 cr
Price₹3,431.80
52w high / low₹4,394 / ₹3,301
P/E19.6xSector median 42.4x
P/B8.8xSector median 6.2x
Book value₹388.0
Dividend yield3.04%Sector median 0.45%
ROE49.3%Sector median 16.4%
ROCE60.7%Sector median 18.6%
OPM13.2%Sector median 14.2%
Debt / equity0.00xSector median 0.08x
EV/EBITDA13.7xSector median 22.3x
Interest cover752.8x
Current ratio1.67x
Sales growth 3y+12.2%Sector median +9.1%
Profit growth 3y+13.7%Sector median +14.8%
PEG1.43x
Last 12 months to Sep 2026, Standalone. "Sector median" = middle value of 13 companies in Compressors, Pumps & Diesel Engines (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹141 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 752.8x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 6% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹3,431.80 on 2026-10-26: -21.9% from the 52-week high, +4.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹4,596.70 · low ₹2,688.80
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 346 | 454 | 484 | 504 | 473 | 546 | 588 | 635 |
| EBITDA | 44 | 62 | 67 | 68 | 59 | 75 | 77 | 86 |
| OPM % | 12.8% | 13.6% | 13.9% | 13.5% | 12.4% | 13.7% | 13.0% | 13.6% |
| Other income | 4 | 5 | 6 | 5 | 4 | 4 | 4 | 2 |
| Net profit | 32 | 45 | 50 | 50 | 42 | 55 | 56 | 61 |
| EPS (₹) | 26.30 | 37.39 | 41.14 | 40.89 | 34.66 | 44.91 | 45.70 | 49.86 |
| Revenue YoY | +37.0% | +20.2% | +21.5% | +26.0% | ||||
| Profit YoY | +31.8% | +20.1% | +11.1% | +21.9% |
Standalone figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,138 | 1,422 | 1,419 | 1,682 | 2,007 | 2,243 |
| EBITDA | 155 | 186 | 188 | 227 | 269 | 297 |
| Net profit | 109 | 134 | 138 | 166 | 196 | 213 |
| EPS (₹) | 90.17 | 110.02 | 113.50 | 136.64 | 161.60 | 175.13 |
| Revenue growth | +24.9% | -0.2% | +18.5% | +19.3% | +25.4% | |
| Profit growth | +22.1% | +3.2% | +20.4% | +18.3% | +20.2% | |
| Dividend / share (₹) | 50.00 | 80.00 | 92.00 | 95.00 | 104.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +12.2% | +15.3% | +25.4% |
| Net profit | +13.7% | +16.2% | +20.2% |
| EPS | +13.7% | +16.2% | – |
| Share price | – | +8.9% (2y) | -13.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 342 | 369 | 419 | 489 |
| Borrowings | – | 0 | 0 | 0 | 0 |
| Cash & equivalents | – | 135 | 196 | 193 | 141 |
| Total assets | – | 536 | 557 | 672 | 779 |
| Fixed assets | – | 87 | 75 | 110 | 107 |
| Capital work in progress | – | 2 | 38 | 5 | 55 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 128 | 120 | 177 | 206 |
| Inventory | – | 70 | 71 | 78 | 75 |
| Payables | – | 166 | 158 | 221 | 248 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 103 | 133 | 142 | 177 | 117 |
| Cash from investing | -51 | -38 | -30 | -58 | 22 |
| Cash from financing | -84 | -97 | -112 | -116 | -128 |
| Capex | 22 | 13 | 48 | 24 | 70 |
| Free cash flow | 81 | 120 | 95 | 152 | 47 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 39.0% | 37.4% | 39.6% | 40.2% |
| ROCE % | – | 52.5% | 50.3% | 53.3% | 54.0% |
| Debtor days | – | 33 | 31 | 38 | 37 |
| Inventory days | – | 22 | 23 | 22 | 17 |
| Payable days | – | 53 | 52 | 61 | 58 |
| Cash conversion cycle (days) | – | 2 | 2 | -1 | -4 |
| Working capital days | – | 52 | 62 | 51 | 54 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 52.11% |
| FIIs | 2.26% |
| DIIs | 8.76% |
| of which Mutual funds | 7.77% |
| of which Insurance | 0.08% |
| Public (non-institutions) | 36.88% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 52.12% | 52.12% | 52.12% | 52.12% | 52.12% | 52.11% | 52.11% | 52.11% |
| Promoter group | % |
|---|---|
| Mahindra & Mahindra Limited | 52.11% |
| Mahindra Steel Service Centre Limited | 0.00% |
| Mahindra First Choice Wheels Limited | 0.00% |
| Gromax Agri Equipment Limited (Formerly known as Mahindra Gujarat Tractor Limited) | 0.00% |
| Mahindra Agri Solutions Limited (Formerly known as Mahindra Shubhlabh Services Limited) | 0.00% |
| Mahindra Accelo Limited (Formerly known as Mahindra Intertrade Limited) | 0.00% |
| Mahindra Holidays & Resorts India Limited | 0.00% |
| Mahindra Hotels and Residences India Limited | 0.00% |
| Mahindra Holdings Limited | 0.00% |
| NBS International Limited | 0.00% |
| Mahindra & Mahindra Financial Services Limited | 0.00% |
| Mahindra Insurance Brokers Limited | 0.00% |
| Mahindra Rural Housing Finance Limited | 0.00% |
| Bristlecone India Private Limited (formerly know as Bristlecone India Limited) | 0.00% |
| Mahindra Lifespace Developers Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| DSP Small CAP Fund | 6.02% |
| Parag Parikh Conservative Hybrid Fund | 1.75% |
| Vikram Chinubhai Shah | 1.48% |
| Keyur H Parikh | 1.26% |
| Reeta Keyur Parikh | 1.03% |
| Vikram Advisory Services Private Limited | 1.01% |
41,572 shareholders. Pledged: 0.00% of promoter shares.
Peers in Compressors, Pumps & Diesel Engines
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| CUMMINSIND | ₹1,21,566 cr | 51.4x | 14.3x | 29.5% | 33.2% | 19.7% | +16.0% | 1.21% |
| KIRLOSENG | ₹26,454 cr | 48.4x | 7.3x | 16.1% | 13.7% | 17.1% | +15.3% | 0.36% |
| ELGIEQUIP | ₹16,486 cr | 36.6x | 7.4x | 21.9% | 23.4% | 14.2% | +9.1% | 0.42% |
| KIRLOSBROS | ₹12,421 cr | 33.2x | 5.0x | 16.4% | 18.1% | 10.9% | +6.8% | 0.45% |
| INGERRAND | ₹11,850 cr | 44.3x | 19.2x | 43.7% | 58.5% | 23.2% | +6.6% | 2.13% |
| KSB | ₹11,534 cr | 47.0x | 6.8x | 15.2% | 18.6% | 11.8% | – | – |
| KIRLPNU | ₹7,710 cr | 29.4x | 6.2x | 22.4% | 27.9% | 19.6% | +13.0% | 0.84% |
| SHAKTIPUMP | ₹4,529 cr | 21.3x | 2.7x | 14.8% | 16.6% | 12.3% | +40.7% | 0.27% |
| GREAVESCOT | ₹4,247 cr | 42.4x | 3.0x | 7.0% | 7.5% | 5.5% | +8.4% | 1.10% |
| SWARAJENG | ₹4,170 cr | 19.6x | 8.8x | 49.3% | 60.7% | 13.2% | +12.2% | 3.04% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-03 | Dividend | Dividend - Rs 110 Per Share |
| 2025-06-27 | Dividend | Dividend - Rs 104.50 Per Share |
| 2024-06-28 | Dividend | Dividend - Rs 95 Per Share |
| 2023-07-07 | Dividend | Annual General Meeting/Dividend - Rs 92 Per Share |
| 2022-06-30 | Dividend | Dividend - Rs 80 Per Share |
| 2021-07-01 | Dividend | Dividend - Rs 50 Per Share/Special Dividend - Rs 19 Per Share |
| 2020-07-02 | Dividend | Dividend - Rs 25 Per Share Special Dividend - Rs 15 Per Share |
| 2019-07-11 | Dividend | Final Dividend - Rs 25 Per Share/ Special Dividend - Rs 25 Per Share |
| 2018-07-12 | Dividend | Annual General Meeting /Final Dividend Rs 25 Per Share/Special Dividend Rs 25/- Per Share |
| 2018-01-11 | Buyback | Buyback |
| 2017-07-06 | Dividend | Final Dividend Rs 18/- Per Share + Special Dividend Rs 25/- Per Share |
| 2016-07-07 | Dividend | Final Dividend - Rs 15/- And Special Dividend - Rs. 18/- |
| 2015-07-09 | Dividend | Final Dividend - Rs 15/- Per Share And Special Dividend - Rs 18/- Per Share |
| 2014-07-10 | Dividend | Annual General Meeting / Dividend - Rs 15/- Per Share + Special Dividend - Rs 20/- Per Share |
| 2013-07-11 | Dividend | Annual General Meeting/Dividend Final Rs.13 +Special Dividend Rs.20 Per Share |
| 2012-07-12 | Dividend | Dividend Rs.13/- Per Share |
| 2011-07-14 | Dividend | Dividend-Rs.10/- Per Share |
| 2010-07-14 | Dividend | Dividend-Rs.8/- Per Share |
| 2009-06-02 | Dividend | Dividend-Rs.5/- Per Share |
| 2008-06-03 | Dividend | Dividend - 50% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Manufacturing of diesel engines and its components
| Sector | Industrials |
| Industry | Compressors, Pumps & Diesel Engines |
| Sub-industry | Compressors, Pumps & Diesel Engines |
| Symbol | SWARAJENG |
| BSE code | 500407 |
| ISIN | INE277A01016 |
| Face value | ₹10.0 |
| Incorporated | 1985-09-24 |
| Website | www.swarajenterprise.com |
| Plants (India / abroad) | 1 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.