Swaraj Engines profit hits record as Q2 margins expand

Swaraj Engines reported its highest-ever quarterly profit for Q2 FY27, with September-quarter net operating revenue rising 26% year on year to ₹635.19 crore from ₹504.04 crore. Profit before tax increased 21.9% to ₹81.38 crore, while profit after tax rose 21.9% to ₹60.57 crore from ₹49.68 crore. The company also sold 61,216 engines during the quarter, compared with 51,164 units a year earlier. 📈

Operating performance improved alongside volume growth. EBITDA rose 27.1% to ₹86.45 crore from about ₹68 crore, while the EBITDA margin expanded to 13.61% from 13.49% in the year-ago quarter. The combination of higher engine volumes, sustained customer demand and modest margin expansion supported record quarterly profit and strengthened the earnings profile of the agricultural-engine supplier. 🚜

Shares rose as much as 14.92% in Monday’s trade to an intraday high of ₹3,950, according to Business Today, while CNBC-TV18 reported a move of as much as 14%. The stock was last reported at ₹3,769, up 9.65% during the session. The reaction followed the earnings release and showed that the record profit and revenue growth were the immediate market catalysts.

OI Charts data, as of 9 Oct 2026, showed the stock at ₹3,439, down 1.5% on the day. It had declined 2.9% over five sessions and 4.3% over 20 sessions, with volume at 7,927. The 52-week range stood between ₹3,301, recorded on 30 Mar 2026, and ₹4,437 on 16 Oct 2025. The sharp post-results move therefore came after a period of recent weakness, while the stock remained below its recorded 52-week high.

The next focus is whether engine demand remains above the year-ago level and whether the margin expansion holds in the following quarter. Investors will also track the company’s next financial update for sales volumes, operating profit and evidence that customer demand can sustain the higher revenue base. ⚙️

Source: CNBC-TV18 and Business Today, 12 Oct 2026

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