Swaraj Engines LimitedQuarter Ended 30.09.2026 Results & Financial Update
Swaraj Engines Limited: Quarter Ended 30.09.2026 standalone results and company financials – revenue ₹635.19 Cr, PAT ₹60.57 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Swaraj Engines Quarter Ended 30.09.2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Swaraj Engines Limited delivered a strong financial performance for the quarter ended September 30, 2026, posting significant revenue and profit expansion compared to both the preceding quarter and the corresponding period of the previous year.
Total income from operations for Q2 FY27 reached INR 635.19 crore, marking a robust year-on-year increase of 26.02% from INR 504.04 crore in Q2 FY26 and a sequential gain of 7.95% over the INR 588.39 crore reported in Q1 FY27.
Net profit after tax for the quarter stood at INR 60.57 crore, registering a 21.92% growth over the INR 49.68 crore recorded in the same period last year and a 9.08% rise compared to INR 55.53 crore in the June 2026 quarter.
Profit before tax (PBT) followed a similar trajectory, coming in at INR 81.38 crore compared to INR 66.75 crore in Q2 FY26 and INR 74.64 crore in Q1 FY27, reflecting stable operational performance across the period.
Basic earnings per share (EPS) for the quarter rose to INR 49.86 (not annualized), compared to INR 40.89 in the year-ago quarter and INR 45.70 in the previous quarter.
For the half year ended September 30, 2026, total operating revenue aggregated to INR 1,223.58 crore, with cumulative net profit after tax reaching INR 116.10 crore and basic earnings per share standing at INR 95.56.
Swaraj Engines Limited reported revenue from operations of INR 635.19 crore for the quarter ended 30th September 2026, marking a robust expansion compared to INR 504.04 crore in the corresponding period of the previous year.
Net profit after tax for the second quarter of financial year 2027 reached INR 60.57 crore, reflecting an increase over the INR 49.68 crore recorded in the same quarter last year.
01 · Business model
What does Swaraj Engines do?
Swaraj Engines Limited manufactures diesel engines and related components primarily tailored for tractors, operating its primary manufacturing and assembly plant situated in Mohali, Punjab.
The company's core business model centers on supplying diesel engines built for agricultural equipment, acting as a specialized engine supplier with deep integration into tractor manufacturing value chains.
Revenue generation is heavily driven by engine volume sales to tractor manufacturers, complemented by spare parts operations and allied diesel engine components.
02 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended 30.09.2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹635.19 Cr | ₹504.04 Cr | ₹588.39 Cr |
| Total income | ₹636.77 Cr | ₹508.65 Cr | ₹592.10 Cr |
| Profit before tax | ₹81.38 Cr | ₹66.75 Cr | ₹74.64 Cr |
| Profit after tax | ₹60.57 Cr | ₹49.68 Cr | ₹55.53 Cr |
| EPS | ₹49.86 | ₹40.89 | ₹45.70 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 9.5% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 12.8% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹1.58 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Operating revenue expansion to INR 635.19 crore was underpinned by higher off-take of diesel engines and related components during the quarter.
What drove margins
Operating margin for the quarter was maintained at approximately 13.61%, compared to 13.50% in the year-ago period and 13.05% in the preceding quarter.
04 · Reported developments
What changed operationally
Both revenue from operations and net profit posted over 20% growth compared to the corresponding quarter of the previous financial year.
05 · Beyond the numbers
What changed beyond the numbers
Reported update
Audit Review
The financial results for the quarter and half year ended September 30, 2026, were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on October 12, 2026, with statutory auditors conducting a limited review.
Reported update
Statutory Audit Review
The unaudited financial results for the quarter and half year ended 30th September 2026 were subjected to a limited review by the statutory auditors of the company.
06 · Previous-quarter changes
What changed since the previous quarter
Revenue increased from INR 588.39 crore in Q1 FY27 to INR 635.19 crore in Q2 FY27, while PAT rose from INR 55.53 crore to INR 60.57 crore.
Revenue from operations increased from INR 588.39 crore in the quarter ended 30th June 2026 to INR 635.19 crore in the quarter ended 30th September 2026.
Net profit after tax increased sequentially from INR 55.53 crore in the first quarter of fiscal 2027 to INR 60.57 crore in the second quarter.
07 · Key Q&A
The quarter, answered directly
What does Swaraj Engines do?
Swaraj Engines Limited manufactures diesel engines and related components primarily tailored for tractors, operating its primary manufacturing and assembly plant situated in Mohali, Punjab.
What is the clearest takeaway from Quarter Ended 30.09.2026?
Swaraj Engines Limited delivered a strong financial performance for the quarter ended September 30, 2026, posting significant revenue and profit expansion compared to both the preceding quarter and the corresponding period of the previous year.
What drove revenue or demand?
Operating revenue expansion to INR 635.19 crore was underpinned by higher off-take of diesel engines and related components during the quarter.
What mattered most for margins or profitability?
Operating margin for the quarter was maintained at approximately 13.61%, compared to 13.50% in the year-ago period and 13.05% in the preceding quarter.
What changed operationally beyond the headline numbers?
The financial results for the quarter and half year ended September 30, 2026, were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on October 12, 2026, with statutory auditors conducting a limited review.
What should the next disclosure help confirm?
Monitor subsequent quarterly dispatches and agricultural demand cycles for sustained engine volume growth.
08 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
09 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
H2 FY27 Volume Off-take: Monitor subsequent quarterly dispatches and agricultural demand cycles for sustained engine volume growth.
- 02
Subsequent Financial Reporting: Review of the upcoming quarterly financial results and performance disclosures for the period ending 31st December 2026.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.