Swaraj Engines Ltd

Swaraj Engines Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Swaraj Engines Ltd

₹ 2,925 -1.76%
22 Jul 4:01 p.m.
swarajenterprise.com BSE: 500407 NSE: SWARAJENG
About

Swaraj Engines was established in 1989 it manufactures diesel engines specifically for tractors in the range of 22 HP to above 65 HP and hi-tech engine components. [1] [2]
[3]

Key Points

Company History
Incorporated in 1985, Swaraj Engines was jointly promoted by Punjab Tractors and Kirloskar Oil Engines Ltd. Kirloskar provides know-how, design, documentation, process details, and tooling designs for manufacturing diesel engines for 'SWARAJ' tractors by Punjab Tractors Ltd. Mahindra & Mahindra acquired a majority stake in Punjab Tractors in 2007 and merged the Swaraj brand with its Farm Division.[1] [2]

Website BSE NSE
  • Market Cap ₹ 3,559 Cr.
  • Current Price ₹ 2,925
  • High / Low ₹ 3,200 / 1,902
  • Stock P/E 25.4
  • Book Value ₹ 303
  • Dividend Yield 3.25 %
  • ROCE 51.6 %
  • ROE 38.6 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.25%.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 38.9%
  • Company has been maintaining a healthy dividend payout of 85.4%
  • Company's working capital requirements have reduced from 15.1 days to 11.7 days

Cons

  • Stock is trading at 9.63 times its book value
  • The company has delivered a poor sales growth of 10.2% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Capital Goods-Non Electrical Equipment Industry: Engines

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Quarterly Results

Figures in Rs. Crores

Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
315 344 238 242 398 385 279 360 400 389 280 351 418
267 296 208 211 344 334 246 312 345 337 247 303 360
Operating Profit 47 48 29 31 55 51 33 48 55 52 33 48 58
OPM % 15% 14% 12% 13% 14% 13% 12% 13% 14% 13% 12% 14% 14%
3 2 2 2 3 2 3 4 5 3 3 3 4
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 5 5 4 4 5 5 5 5 5 5 4 4 5
Profit before tax 45 45 27 29 53 48 31 47 55 51 32 47 58
Tax % 25% 25% 26% 25% 26% 26% 26% 26% 26% 26% 25% 25% 26%
34 34 20 22 40 36 23 35 41 38 24 35 43
EPS in Rs 27.72 27.82 16.63 18.00 32.56 29.54 19.13 28.78 33.69 31.01 19.84 28.96 35.56
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
479 608 540 526 666 771 872 773 987 1,138 1,422 1,419 1,437
408 518 465 452 562 650 740 673 851 983 1,235 1,231 1,246
Operating Profit 72 91 75 74 105 122 132 100 136 155 186 188 191
OPM % 15% 15% 14% 14% 16% 16% 15% 13% 14% 14% 13% 13% 13%
15 16 16 16 17 19 15 13 9 10 12 14 14
Interest 0 0 0 0 0 1 0 0 0 0 0 0 0
Depreciation 7 9 13 14 16 17 20 20 20 18 19 17 17
Profit before tax 80 98 78 76 105 123 127 93 124 147 180 185 188
Tax % 30% 32% 33% 33% 35% 35% 35% 24% 26% 25% 26% 25%
55 67 52 51 69 80 82 71 93 109 134 138 140
EPS in Rs 44.61 53.95 41.74 41.31 55.43 66.05 67.95 58.55 76.24 90.14 110.00 113.50 115.37
Dividend Payout % 74% 65% 79% 80% 78% 76% 74% 68% 91% 89% 84% 84%
Compounded Sales Growth
10 Years: 9%
5 Years: 10%
3 Years: 13%
TTM: 1%
Compounded Profit Growth
10 Years: 8%
5 Years: 11%
3 Years: 14%
TTM: 4%
Stock Price CAGR
10 Years: 13%
5 Years: 20%
3 Years: 18%
1 Year: 45%
Return on Equity
10 Years: 33%
5 Years: 37%
3 Years: 39%
Last Year: 39%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 12 12 12 12 12 12 12 12 12 12 12 12
Reserves 181 197 200 251 271 216 226 224 268 294 330 356
0 0 0 0 0 0 0 0 0 0 1 1
107 124 113 73 89 119 128 119 178 156 193 187
Total Liabilities 301 334 325 337 372 348 366 355 458 461 536 557
81 84 84 101 91 92 110 103 92 95 88 76
CWIP 2 2 5 0 1 6 2 4 1 2 2 38
Investments 74 72 42 11 49 76 84 111 34 36 26 20
144 176 195 224 231 173 170 136 331 329 420 423
Total Assets 301 334 325 337 372 348 366 355 458 461 536 557

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
47 67 56 63 82 89 69 100 28 100 133 142
-28 -16 -11 -14 -32 47 4 -27 56 -48 -38 -30
-19 -48 -51 -49 -49 -136 -73 -73 -49 -84 -97 -112
Net Cash Flow 0 3 -6 0 1 1 -0 -0 36 -32 -2 1

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 7 5 5 5 7 7 8 2 42 33 33 31
Inventory Days 39 37 30 26 19 20 26 23 29 25 22 23
Days Payable 44 47 43 50 52 63 58 61 78 53 53 52
Cash Conversion Cycle 2 -5 -9 -19 -25 -35 -24 -36 -7 5 2 2
Working Capital Days -31 -29 -38 34 54 3 6 2 13 16 17 12
ROCE % 39% 48% 37% 32% 39% 47% 55% 39% 48% 50% 55% 52%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
52.15% 52.15% 52.13% 52.13% 52.13% 52.13% 52.13% 52.12% 52.12% 52.12% 52.12% 52.12%
1.47% 1.85% 1.84% 1.90% 1.91% 1.73% 1.75% 2.50% 2.60% 2.71% 2.55% 2.86%
9.07% 8.91% 8.91% 8.91% 9.05% 8.91% 9.16% 8.47% 8.51% 9.02% 9.54% 8.84%
37.31% 37.09% 37.11% 37.06% 36.89% 37.22% 36.96% 36.90% 36.76% 36.16% 35.79% 36.18%
No. of Shareholders 32,80730,71330,20229,27428,74128,35927,46927,48728,03026,97627,14629,241

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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