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Mar 21, 2023 04:01 PM

Swaraj Engines Ltd

SECTOR : Capital Goods-Non Electrical Equipment | BSE :500407 | NSE : SWARAJENG

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Company details

Day Low

Day High

1,525.00

1,544.15

52W Low

52W High

1,293.00

1,960.00

6M Return -8.91%

1Y Return 10.64%

Mkt Cap.(Cr) 1,874.91

Volume 472

Div Yield 5.26%

OI

-

OI Chg %

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Volume 472

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Swaraj Engines Ltd: 1,543.90
24.75 (1.63 %)

BSE

Swaraj Engines Ltd Research Report

About The Stock

Swaraj Engines (SEL) is involved in manufacturing diesel engines for M&M’s Swaraj brand of tractors. It is headquartered at Mohali (Punjab)

Steady ~10% compounding of revenues, EBITDA, PAT over past five years
Net cash positive b/s; consistent cash flow generation; highly capital efficient player with history of >30% return ratios & high dividend pay-outs

Q4FY22

SEL reported steady Q4FY22 results

Diesel engine volumes stood at 23,937 units, down 29% YoY.
Net sales declined 21% YoY to ₹ 242 crore tracking 1.6% QoQ ASP increase
Operating margins improved 50 bps QoQ to 12.8% in Q4FY22
Consequent PAT was down 33% YoY to ₹ 22 crore (high margins in Q2FY21)

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Quick Results Snapshot

Swaraj Engines Ltd.

Q3FY23 Quarterly Result Announced for Swaraj Engines Ltd.

Auto parts & equipment firm Swaraj Engines announced Q3FY23 results:

Q3FY23:
- Registering a growth of 13%, the engine sales for the Q3FY23 stood at 26,944 units as against 23,836 units sold during the corresponding quarter of last year.
- The increase in engine sales volume, the net operating revenue for the third quarter moved to Rs 278.93 crore as compared to Rs 237.50 crore for Q3FY22.
- Enhanced level of operations coupled with operational efficiencies, the operating cost, including deprecation, at 10% of net operative revenue remained lower by 120 bps compared to the corresponding quarter of last year.
- While the operating profit (EBITDA) for the quarter was 33.07 crore (last year Rs 29.21 crore), the PBT stood at Rs 31.23 crore (last year 27.22 crore).
- The engine sales volume grew by 13%, the Profit after tax is at Rs 23.23 crore (last year Rs 20.19 crore) remained higher by 15.1% over last year.
9MFY23:
- On the strength of growth witnessed in the first Q3FY23, Swaraj Engines recorded the highest-ever nine months of engine sales & profit.
- Crossing the 1,00,000 units mark in nine months for the first time, the engine sales volume stood at 1,02,164 units (last year 92,874 units) with net operating revenue of Rs 1,062.03 crore (last year Rs 895.80 crore).
- The company's nine months PBT stood at Rs 132.66 crore (last year Rs 117.68 crore) - up 12.7%. PAT for the period was Rs 98.65 crore (last year Rs 87.61 crore) - up 12.6%.

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Swaraj Engines Ltd shares SWOT Analysis

EMA SMA

Delivery and volume

OUR RESEARCH VIEW

Investment recommendation

Call Date

27 Apr 2022

Entry Price

1,500.00

Target Price

1,680.00

Duration

12-18 Month

HOLD View Report

FINANCIALS

Sales

Operating Profit

Profit after Tax

Equity

Reserves and Surplus

Debt

Sales

Operating Profit

Profit after Tax

PE

Debt/Equity

P BV

Swaraj Engines Ltd Stocks COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 305.48 Cr FV: 10.00

Period	MF Net Purchase / (sold)	FII Net
LAST 1M	9,527.59	7,252.76
LAST 3M	42,415.10	-9,114.21
LAST 6M	72,085.06	4,510.60
LAST 12M	156,258.18	-37,934.40

ANNOUNCEMENT
CORPORATE ACTION

No Data Found

Date	Action Type	Ratio
Jun 30, 2022	Dividend	800
Jul 01, 2021	Dividend	190
Jul 01, 2021	Dividend	500

Swaraj Engines Ltd Information

Stock PE (TTM)

15.31

Promoter Holding

52.13%

Book Value

233.8283

ROCE

49.18%

ROE

37.35%

Description

Swaraj Engines Ltd, a Joint Venture between Punjab Tractors Ltd and Kirloskar Engines was set up primarily to manufacture engines for supply to Punjab Tractors. The Company was incorporated in Sep 85 under the Management Control of Punjab Tractors to Manufacture and market diesel engines ranging from 15hp to 80hp. Swaraj Engines Ltd (SEL) supplies 5 types of Engines from 20HP range to 50HP range to Punjab Tractors Ltd(PTL). In addition to engines, the Company also manufactures high-tech engine components for Swaraj Mazda. Since the Companies Operations in 1989-90, SEL has supplied over 2,40,000 engines for fitment into Swaraj Tractors being produced and sold by PTL. The Companies initial public offer and allotment was in 1989. The Company came out with a Public Issue aggregating to Rs.0.89 crores to part-finance Rs.4.5 crore project to manufacture 16,000 diesel engines. The Technology was provided by KOEL (Kirloskar Oil Engines Ltd). In the First year of full operations, 1989-90 the company declared its maiden dividend of 20% The Company has its plant at SAS Nagar Ropar Punjab. During 1996-2000 the Company expanded engine assembly capacity to 36,000 per annum on 2 shift basis. SEL also commissioned Matching Shop facilities for Manufacturing high-tech engine components. In the year 1999, Swaraj Engines also set-up facilities for Manufacturing high-tech engine components for Swaraj Mazda Vehicles such as Cylinder block and cylinder head. During 2002-2003 Punjab State Industrial Development Corporation (PSIDC) initiated a disinvestments process covering entire Equity stake of 23.49% held by it in Punjab Tractors Ltd(Promoters of the Company with 33% stake). CDC Financial Services(Mauritius) Ltd (CDCFS) was the Successful bidder for acquiring PSIDC`s stake of 1,42,74,000 shares @153/- per share. As per SEBI Guidelines, CDCFS & CDC-PTL made a public announcement regarding an offer to the public to buy upto 20% of Company`s total paid up equity i.e 8,27,988 shares @ Rs.205/- per share. The Board of Directors in their meeting held on June 17, 2005 announched bonus issue in the ratio of 2:1 by Capitalization of General Reserve

Registered Address

Phase IV Industrial area, SAS Nagar, Mohali, Punjab, 160055

Tel	:	91-172-2271620-27
Email	:	selinvestor:swarajenterprise.com
Website	:	http://www.swarajenterprise.com

Registrar

MCS Ltd

AGM Date (Month)	:	Jul
Face Value Equity Shares	:	10
Market Lot Equity Shares	:	1
BSE Code	:	500407
NSE Code	:	SWARAJENG
Book Closure Date (Month)	:	Jul
BSE Group	:	B
ISIN	:	INE277A01016

FAQ’s on Swaraj Engines Ltd Shares

How can I buy Swaraj Engines Ltd share?

You can buy Swaraj Engines Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Swaraj Engines Ltd Share.

What is the share price of Swaraj Engines Ltd share?

Company share prices and volatile and keep changing according to the market conditions. As of Mar 21, 2023 04:01 PM the closing price of Swaraj Engines Ltd was ₹ 1,543.90.

What is the market cap of Swaraj Engines Ltd?

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Mar 21, 2023 04:01 PM, the market cap of Swaraj Engines Ltd stood at ₹ 1,874.91.