Swaraj Engines is a Small Cap Company of Mahindra Group having a market capitalization of 2,112.84 crore during today’s closing. The company is equipped with highly productive and precise quality analysis machines and is also manufacturing hi-tech engine components. The stock ended on a green note today by up 5% after declaring 920% dividend for its eligible shareholders and 59.9% PAT growth in FY23.
“The board, while approving the annual accounts, has recommended an equity dividend of 920% (Rs 92 per share) for the financial year ending March 31, 2023,” Swaraj Engines said in a stock exchange filing.
“The register of members and share transfer books of the Company shall remain closed from Saturday, the 8th July, 2023 till Friday, the 14th July, 2023 (both days inclusive) for the purpose of determining the members eligible to receive the dividend, if declared by shareholders at the forthcoming Annual General Meeting (“AGM”). The dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM,” Swaraj Engines informed the stock exchanges.
Due to the capacity addition, Swaraj Engines said in a stock exchange filing that “the board had earlier approved capacity enhancement from 1,50,000 engines to 1,80,000 engines per annum on October 22, taking into account the potential demand for engines in the coming years.” Keeping in view, the Board has today approved enhancement of engine capacity to 1,95,000 units per annum. The total estimated outlay for this will be funded through internal production/surplus available with the company.”
The company recorded revenue from operations of 359.79 Cr during Q4FY23, up 48.45% YoY 242.35 crore in Q4FY22. stood at the company’s net income 363.49 crore during the quarter ending March 2023. 244.64 crore during the year-ago quarter. The company’s net expenses stood at Rs 316.41 crore during the quarter under review. 215.46 crore during the year-ago quarter. Swaraj Engines said its net profit rose by 59.92% to Rs 34.96 crore. 21.86 crore during the quarter ending March 2022.
The company’s Q4 engine sales grew by 45.6% to 34,841 units as compared to 23,937 units sold during the same period last year. Owing to the above, the net operating revenue for the quarter grew by 48.5% to Rs. 359.79 crores from Rs. 242.35 cr. Operating profit (EBITDA) grew by 54.3% to Rs. 47.98 crores to Rs. 31.10 crores in the previous year. At 1,37,005, the number of engines sold showed a growth of 17.3% as compared to 1,16,811 units sold last year. As against the net operating revenue of the previous financial year of Rs. 1138.15 crore, the net operating revenue for FY23 was Rs. 1421.82 cr.
Swaraj Engines shares closed today on NSE 1,740 each, up 4.56% from the previous close 1,664.05. The stock touched a 52-week high 1,962.00 (21-Sep-2022) and at a 52-week low at 1,383.15 (27-Apr-2022).
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