Swaraj Engines Ltd (IN:SWARAJENG)
:SWARAJENG
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Swaraj Engines Ltd
(SWARAJENG)
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Rating:77Outperform
Price Target:
₹4,573.00
▲(23.38% Upside)
Action:Reiterated
Date:04/21/26
The score is driven primarily by strong financial performance (high profitability and ultra-low leverage, tempered by weaker FY2026 cash-flow conversion) and a favorable technical trend (price above key moving averages with positive MACD). Valuation is the main restraint due to a higher P/E despite a supportive dividend yield.
Positive Factors
Conservative balance sheet
Extremely low debt and a strong equity base materially reduce refinancing and solvency risks. This conservative capital structure preserves optionality for cyclical capital needs, supports stable dividends or targeted reinvestment, and cushions the business through agricultural cycles over months ahead.
Negative Factors
Weakening cash conversion
A sharp decline in FCF and lower conversion of earnings into cash implies higher working-capital needs or elevated reinvestment. This reduces financial flexibility for capex, dividends, or M&A and raises execution risk if cash conversion does not normalize over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low debt and a strong equity base materially reduce refinancing and solvency risks. This conservative capital structure preserves optionality for cyclical capital needs, supports stable dividends or targeted reinvestment, and cushions the business through agricultural cycles over months ahead.
Read all positive factors
Swaraj Engines Ltd (SWARAJENG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹44.83B
Dividend Yield2.9%
Average Volume (3M)1.97K
Price to Earnings (P/E)20.5
Beta (1Y)1.54
Revenue Growth19.34%
EPS Growth18.27%
CountryIN
Employees297
SectorIndustrials
Sector Strength72
IndustryAuto - Parts
Share Statistics
EPS (TTM)145.73
Shares Outstanding12,149,865
10 Day Avg. Volume2,001
30 Day Avg. Volume1,969
Financial Highlights & Ratios
PEG Ratio1.12
Price to Book (P/B)8.22
Price to Sales (P/S)2.00
P/FCF Ratio63.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)179.35
Revenue Forecast (FY)₹20.73B
Swaraj Engines Ltd Business Overview & Revenue Model
Company Description
Swaraj Engines Limited manufactures and sells diesel engines, diesel engine components, and spare parts for tractors in India. The company was incorporated in 1985 and is based in Mohali, India....
How the Company Makes Money
Swaraj Engines Ltd makes money mainly by manufacturing and selling diesel engines (and associated engine parts/assemblies) to original equipment manufacturers (OEMs), with its largest revenue stream coming from supplying engines for Swaraj-brand t...
Swaraj Engines Ltd Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
95
Very Positive
Cash Flow
64
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.88B | 20.07B | 16.82B | 14.19B | 14.22B | 11.33B |
| Gross Profit | 3.62B | 3.61B | 3.55B | 2.23B | 1.98B | 2.29B |
| EBITDA | 2.55B | 2.72B | 2.27B | 2.02B | 1.98B | 1.65B |
| Net Income | 1.77B | 1.96B | 1.66B | 1.38B | 1.34B | 1.09B |
Balance Sheet | ||||||
| Total Assets | 6.71B | 7.79B | 6.72B | 5.57B | 5.36B | 4.61B |
| Cash, Cash Equivalents and Short-Term Investments | 1.78B | 1.41B | 1.87B | 1.54B | 1.24B | 1.22B |
| Total Debt | 38.50M | 20.50M | 19.90M | 12.19M | 12.26M | 0.00 |
| Total Liabilities | 2.79B | 2.90B | 2.53B | 1.88B | 1.94B | 1.56B |
| Stockholders Equity | 3.92B | 4.89B | 4.19B | 3.69B | 3.42B | 3.06B |
Cash Flow | ||||||
| Free Cash Flow | 991.90M | 628.50M | 1.52B | 945.85M | 1.20B | 811.86M |
| Operating Cash Flow | 1.13B | 1.33B | 1.77B | 1.42B | 1.33B | 1.03B |
| Investing Cash Flow | 88.10M | 57.30M | -581.40M | -295.64M | -376.30M | -514.35M |
| Financing Cash Flow | -1.27B | -1.28B | -1.16B | -1.12B | -973.40M | -840.04M |
Swaraj Engines Ltd Technical Analysis
Negative
3706.50
Price Trends
3746.27
Negative
3661.62
Positive
3840.49
Negative
Market Momentum
-35.21
Positive
39.88
Neutral
14.53
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SWARAJENG, the sentiment is Negative. The current price of 3706.5 is below the 20-day moving average (MA) of 3860.20, below the 50-day MA of 3746.27, and below the 200-day MA of 3840.49, indicating a bearish trend. The MACD of -35.21 indicates Positive momentum. The RSI at 39.88 is Neutral, neither overbought nor oversold. The STOCH value of 14.53 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SWARAJENG.
Swaraj Engines Ltd Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹44.83B | 20.48 | ― | 2.90% | 19.34% | 18.27% | |
70 Outperform | ₹45.92B | 21.68 | ― | 1.63% | 6.03% | 4.99% | |
65 Neutral | ₹25.24B | 51.58 | ― | 0.47% | 14.42% | -39.78% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ₹32.61B | 15.08 | ― | 0.40% | 4.95% | 3.37% | |
58 Neutral | ₹39.46B | 26.22 | ― | 1.06% | 17.76% | 83.26% | |
50 Neutral | ₹35.76B | 41.39 | ― | 0.49% | 11.10% | -2.62% |
* Industrials Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.