Swaraj Engines shares gain following rise in net profit in March quarter


LAST UPDATED: April 22, 2021, 4:32 p.m.

New Delhi (Anish Yande): Shares of Swaraj Engines surged by more than 5 percent on the BSE. The shares of the engine manufacturer opened at Rs 1,433 per share on today’s trading session. Swaraj Engines shares rose to an intraday high of Rs 1,470 per share. At 10 AM, the shares of Swaraj Engines were trading at Rs 1,439 on the BSE. 

At 2.30 PM, the shares were trading at Rs 1447.55 per share, at an increase of more than 6 percent.  In the trading session, 71,000 equity shares were exchanged amongst investors on the NSE and BSE.

Swaraj Engines March quarter results:

Swaraj Engines manufactures and supplies engines to the Swaraj division of Mahindra & Mahindra (M&M).

The profit of Swaraj Engines was recorded at Rs 15.84 crore in the March 2020 quarter. The profit rose to Rs 32.56 crore in the March 2021 quarter. Swaraj Engines profit rose by 105.56 percent as compared to the March quarter of the previous year.

Swaraj Engines’ net operating revenues reached Rs 305 crore, at an increase of 74 per cent compared to the March 2020 quarter on a year-on-year basis. The earnings before interest, taxes, depreciation and amortization of Swaraj Engines rose to Rs 46.20 crore in the quarter ended on March quarter 2021.

The EBITDA rose by 97.5 percent on a year-on-year basis. Ebitda margins of Swaraj Engines were recorded at 179 basis points, at an increase of 15.1 percent. The Swaraj Engines Ebitda margins were boosted by an improvement in gross margins and operating leverage benefits.

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Swaraj Engines recorded engine sales of 33,831 units in the quarter ended in March 2021. The engine sales rose by 62 percent year on a year-on-year basis. Sales of engines rose by 8 percent on a quarter on quarter basis.

The board of the Swaraj Engines had announced a total dividend of Rs 69 per share for FY21. The engine manufacturer would be announcing a special dividend of Rs 19 per share.

Image Credit: Google

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