Swaraj Engines Limited has appointed Mr. Vimal Agarwal as its Internal Auditor effective July 1, 2026, succeeding Mr. K. N. Vaidyanathan who will cease to hold the position at the close of business hours on June 30, 2026. The Board of Directors approved the change based on the recommendation of the Audit Committee, following the conclusion of Mr. Vaidyanathan's term as the Group Chief Internal Auditor of Mahindra and Mahindra Limited, the holding company. Mr. Agarwal has been appointed as the Group Chief Internal Auditor of Mahindra and Mahindra Limited, effective July 1, 2026.

The Board placed on record its appreciation for the valuable contributions made by Mr. K. N. Vaidyanathan during his tenure as the Internal Auditor of the company. The meeting, which commenced at 6:25 P.M. and concluded at 6:40 P.M. on June 26, 2026, also reviewed the necessary disclosures required under the SEBI LODR Master Circular.

Details of Appointment

Mr. Vimal Agarwal is a Chartered Accountant and MBA with 25 years of experience in finance, governance, and business strategy across multinational corporations and listed Indian entities. He is recognized for strengthening governance frameworks, enhancing internal controls, and enabling Boards and leadership teams in shaping and executing growth strategies.

During his tenure at PepsiCo India, Mr. Agarwal advanced through multiple leadership roles, driving financial operations, planning & analytics, and supply chain finance while embedding strong internal controls and governance practices. After joining Mahindra Lifespaces as CFO, he partnered with business leaders to scale sales and increase market capitalization while leading fundraising, digitalization, and private equity joint ventures. As CFO of Mahindra Holidays & Resorts over the last 2 years, he has enabled a comprehensive growth strategy and leveraged his expertise in financial planning, investor relations, and performance optimization.

Swaraj Engines Ltd has fixed Friday, July 3, 2026, as the record date to determine shareholder entitlement for a dividend of ₹110 per share recommended for the financial year ended March 31, 2026. The dividend is subject to shareholder approval at the upcoming 40th Annual General Meeting (AGM). The company reported a net profit of ₹196.31 crore for FY26, an increase of 18.3% from the previous year, supported by its highest-ever annual sales volume of 2,02,771 engines.

AGM and E-Voting Details

The 40th AGM will be held on Monday, July 20, 2026, at 12:30 P.M. through video conferencing and other audio-visual means. Members holding shares as on the cut-off date of July 13, 2026, are eligible to vote. Remote e-voting commences on July 16, 2026, at 9:00 a.m. and concludes on July 19, 2026, at 5:00 p.m. Shareholders who have voted via remote e-voting may attend the meeting but will not be eligible to vote again during the AGM.

Financial Performance

Net operating revenue for FY26 rose 19.3% to ₹2007.13 crore. Operating profit (PBIDT) stood at ₹272.12 crore, a 19.7% increase over the previous year. The company achieved a Return on Net Worth of 40.2%, up from 39.6% in FY25. Total comprehensive income for the year was ₹196.40 crore.

Operational Highlights

The company recorded its highest-ever annual engine sales volume of 2,02,771 units, a growth of 20.1% compared to the previous year. The Indian tractor industry crossed the one-million-unit milestone with sales of 11,60,300 units. Swaraj Engines is currently enhancing its annual manufacturing capacity to 2,40,000 engines from the existing 1,95,000 engines.