Swaraj Engines Limited (SEL) recorded a profit after tax (PAT) of ₹60.57 crore for the second quarter of FY27 (July–September 2026), up 21.9% from ₹49.68 crore in the same quarter last year. Profit before tax (PBT) rose 21.9% to ₹81.38 crore from ₹66.75 crore. The results were approved by the Board of Directors at a meeting held on October 12, 2026.
Revenue from operations for the quarter stood at ₹635.19 crore, compared to ₹504.04 crore in Q2 FY26, a year-on-year increase of 26%. Total income for the quarter was ₹636.77 crore against ₹508.65 crore a year earlier. Operating profit came in at ₹86.45 crore, up from ₹68.03 crore.
Engine sales volume for the quarter reached 61,216 units, compared to 51,164 units in the corresponding period last year, a rise of approximately 19.6%.
For the half year ended September 30, 2026 (H1 FY27), the company reported total income of ₹1,228.87 crore against ₹998.41 crore in H1 FY26. PAT for the half year was ₹116.10 crore, up 16.5% from ₹99.65 crore. Half-yearly engine sales reached 1,18,019 units, up 17.8% from 1,00,204 units.
On a per-share basis, basic earnings per share (not annualised) for Q2 FY27 stood at ₹49.86, against ₹40.89 in Q2 FY26. For H1 FY27, basic EPS was ₹95.56 compared to ₹82.03 in the prior-year period.
The company's total assets as of September 30, 2026 were ₹845.65 crore, up from ₹778.83 crore as of March 31, 2026. Property, plant and equipment rose significantly to ₹199.64 crore from ₹106.68 crore, reflecting capital expenditure of ₹67.52 crore during the half year. Trade receivables increased to ₹249.08 crore from ₹206.18 crore, while cash and cash equivalents declined to ₹4.49 crore from ₹17.26 crore. Total equity stood at ₹471.47 crore, down slightly from ₹488.92 crore, partly reflecting dividend payments of ₹133.65 crore during H1 FY27.
The financial results were reviewed by statutory auditors B.K. Khare & Co., Chartered Accountants, who conducted a limited review under Standard on Review Engagements (SRE) 2410 and found no material misstatement.
SEL was established in 1985 in Mohali, Punjab, and operates as a single-business-segment company manufacturing diesel engines, diesel engine components and spare parts. It supplies engines primarily to the Swaraj Division of Mahindra & Mahindra Ltd. The company has no subsidiaries, associates or joint ventures, and operates solely within India.