Swaraj Engines Reports Record FY26 Performance with Enhanced Q4 EBITDA Margins
Swaraj Engines delivered exceptional FY26 results with revenue growth of 19.30% to ₹2007.13 crores and profit after tax increasing 18.30% to ₹196.31 crores. The company demonstrated strong Q4 performance with EBITDA rising 21.17% to ₹750 million and margin improvement to 13.74%. Engine sales crossed 2 lakh units milestone, reaching 2,02,771 units with 20.10% growth, while the Board recommended a substantial 1100% dividend and announced key managerial personnel changes with regulatory compliance through newspaper publication of audited results.
*this image is generated using AI for illustrative purposes only.
Swaraj Engines Limited delivered exceptional financial performance for FY26, achieving record-breaking results across multiple parameters while announcing significant corporate developments. The Board of Directors approved the audited financial results on 13th April, 2026, marking the company's sixth consecutive year of increased engine sales and profit.
Outstanding Financial Performance
The company achieved remarkable growth in FY26, with net operating revenue reaching ₹2007.13 crores compared to ₹1681.89 crores in the previous year, representing robust 19.30% growth. Profit before exceptional items and tax reached ₹266.98 crores, up from ₹223.05 crores in FY25, while profit after tax stood at ₹196.31 crores versus ₹165.98 crores, marking 18.30% growth.
| Financial Metric: | FY26 | FY25 | Growth (%) |
|---|---|---|---|
| Net Operating Revenue (₹ crores): | 2007.13 | 1681.89 | +19.30% |
| Profit Before Tax (₹ crores): | 266.98 | 223.05 | +19.70% |
| Profit After Tax (₹ crores): | 196.31 | 165.98 | +18.30% |
| Engine Sales (Units): | 2,02,771 | 1,68,820 | +20.10% |
Exceptional Q4 Performance with Strong EBITDA Growth
The fourth quarter demonstrated exceptional momentum, marking the 16th consecutive quarter of year-over-year profit growth. Q4 revenue reached ₹545.79 crores compared to ₹454.16 crores in the corresponding period of the previous year. The quarter's net profit stood at ₹54.56 crores versus ₹45.42 crores in Q4 FY25, reflecting strong operational performance with engine sales reaching 55,004 units compared to 45,594 units.
The company's operational efficiency improved significantly with Q4 EBITDA reaching ₹750 million compared to ₹619 million in the previous year, representing a substantial 21.17% year-over-year growth. EBITDA margin also expanded to 13.74% from 13.64% in the corresponding quarter, demonstrating enhanced profitability and cost management.
| Q4 Performance: | FY26 | FY25 | Change (%) |
|---|---|---|---|
| Revenue (₹ crores): | 545.79 | 454.16 | +20.04% |
| EBITDA (₹ million): | 750.00 | 619.00 | +21.17% |
| EBITDA Margin (%): | 13.74 | 13.64 | +0.10 bps |
| Net Profit (₹ crores): | 54.56 | 45.42 | +20.10% |
| Engine Sales (Units): | 55,004 | 45,594 | +20.60% |
| Earnings Per Share (₹): | 44.91 | 37.39 | +20.10% |
Dividend and Corporate Announcements
The Board recommended an equity dividend of 1100% (₹110 per share) for FY26. The 40th Annual General Meeting is scheduled for Monday, 20th July, 2026, with the record date set for Friday, 3rd July, 2026. Dividend payments will be dispatched after the AGM within stipulated timelines.
Key Managerial Personnel Changes
Swaraj Engines announced significant changes in key managerial personnel during the Board meeting. Ms. Geeta Kharat will cease her role as Compliance Officer due to resignation, effective from the close of 12th June, 2026, citing better growth and career opportunity. Mr. Nayan Jain will assume the position of Compliance Officer from 13th June, 2026, and will also serve as Key Managerial Personnel and Senior Management Personnel.
| Personnel Change Details: | Information |
|---|---|
| Outgoing Officer: | Ms. Geeta Kharat (ACS-51135) |
| Incoming Officer: | Mr. Nayan Jain (ACS-79769) |
| Transition Date: | 13th June, 2026 |
| Reason for Change: | Better growth and career opportunity |
| Additional Roles: | KMP and Senior Management Personnel |
Regulatory Compliance and Publication
In compliance with SEBI Regulation 47, the company published its audited financial results in newspapers on 14th April, 2026. The results were published in Financial Express (English) across all editions and Ajit (Punjabi) in the Jalandhar edition. Company Secretary Rajesh K. Kapila confirmed the publication compliance through official communication to BSE Limited and National Stock Exchange of India Limited.
| Publication Details: | Information |
|---|---|
| Publication Date: | 14th April, 2026 |
| English Newspaper: | Financial Express (All Editions) |
| Regional Newspaper: | Ajit (Punjabi - Jalandhar Edition) |
| Compliance Officer: | Rajesh K. Kapila (ACS-9936) |
Operational Milestones
The company's engine sales volume crossed the significant milestone of 2,00,000 units for the first time in its history, reaching 2,02,771 units in FY26. This represents a substantial increase of 20.10% from the previous year's 1,68,820 units. The consistent growth trajectory reflects strong customer demand and operational excellence. The statutory auditors, B. K. Khare & Co., Chartered Accountants, issued an unmodified audit opinion on the financial results.
Historical Stock Returns for Swaraj Engines
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.35% | +10.84% | +15.68% | -7.42% | +0.96% | +198.73% |
What capacity expansion plans does Swaraj Engines have to sustain the 20% growth trajectory beyond the 2 lakh unit milestone?
How will the transition from Ms. Geeta Kharat to Mr. Nayan Jain as Compliance Officer impact the company's regulatory strategy and governance framework?
What market factors are driving the exceptional demand for Swaraj's engines, and is this growth sustainable in the current economic environment?
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