Swaraj Engines Ltd

About [ edit ]

Swaraj Engines is in the business of manufacturing diesel engines and hi-tech engine components. Diesel Engines are specifically designed for tractor application.

  • Market Cap 1,881 Cr.
  • Current Price 1,551
  • High / Low 1,709 / 956
  • Stock P/E 20.3
  • Book Value 231
  • Dividend Yield 1.61 %
  • ROCE 48.2 %
  • ROE 35.8 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 33.76%
  • Company has been maintaining a healthy dividend payout of 77.47%

Cons

  • Debtor days have increased from 17.25 to 41.95 days.
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Quarterly Results

Figures in Rs. Crores

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
235 247 199 191 205 223 170 175 117 292 272 305
198 207 171 164 178 193 150 152 104 252 236 259
Operating Profit 37 40 27 27 27 30 20 23 13 40 37 46
OPM % 16% 16% 14% 14% 13% 13% 12% 13% 11% 14% 13% 15%
Other Income 4 4 4 4 4 3 3 3 2 2 2 2
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 5 5 5 5 5 5 5 5 4 6 5 5
Profit before tax 36 39 27 26 26 28 17 21 11 36 34 44
Tax % 35% 35% 35% 35% 35% 10% 26% 26% 27% 26% 26% 25%
Net Profit 23 25 17 17 17 25 13 16 8 27 25 33
EPS in Rs 19.02 20.92 14.30 13.73 13.95 20.93 10.62 13.06 6.46 22.35 20.62 26.82

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
282 361 449 479 608 540 526 666 771 872 773 987
233 300 379 408 520 465 452 561 650 740 673 851
Operating Profit 50 61 69 72 88 75 74 105 122 132 100 136
OPM % 18% 17% 15% 15% 15% 14% 14% 16% 16% 15% 13% 14%
Other Income 10 8 12 15 18 16 16 17 19 15 13 9
Interest 0 0 0 0 0 0 0 0 1 0 0 0
Depreciation 5 4 4 7 9 13 14 16 17 20 20 20
Profit before tax 55 64 77 80 98 78 76 105 123 127 93 124
Tax % 32% 32% 32% 30% 32% 33% 33% 35% 35% 35% 24% 26%
Net Profit 37 44 53 55 67 52 51 69 80 82 71 93
EPS in Rs 30.07 35.35 42.53 44.61 53.95 41.74 41.31 55.43 66.05 67.95 58.55 76.24
Dividend Payout % 27% 28% 31% 74% 65% 79% 80% 78% 76% 74% 68% 91%
Compounded Sales Growth
10 Years:11%
5 Years:13%
3 Years:9%
TTM:28%
Compounded Profit Growth
10 Years:8%
5 Years:13%
3 Years:6%
TTM:30%
Stock Price CAGR
10 Years:14%
5 Years:7%
3 Years:-9%
1 Year:57%
Return on Equity
10 Years:29%
5 Years:31%
3 Years:34%
Last Year:36%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
12 12 12 12 12 12 12 12 12 12 12 12
Reserves 110 140 174 181 197 200 251 271 216 226 224 268
Borrowings 0 0 0 0 0 0 0 0 0 0 0 0
45 60 77 107 124 113 73 89 119 128 119 178
Total Liabilities 168 212 263 301 334 325 337 372 348 366 355 458
23 24 42 81 84 84 101 91 92 110 103 92
CWIP 1 0 9 2 2 5 0 1 6 2 4 1
Investments 58 58 81 74 72 42 11 49 76 84 111 34
86 130 132 144 176 195 224 231 173 170 136 331
Total Assets 168 212 263 301 334 325 337 372 348 366 355 458

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
37 31 50 47 67 56 63 82 89 69 100 28
-29 1 -42 -28 -16 -11 -14 -32 47 4 -27 56
-7 -12 -14 -19 -48 -51 -49 -49 -136 -73 -73 -49
Net Cash Flow 0 20 -6 0 3 -6 0 1 1 -0 -0 36

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 49% 47% 45% 39% 48% 37% 32% 39% 47% 55% 39% 48%
Debtor Days 5 8 10 7 5 5 5 7 7 8 2 42
Inventory Turnover 12.74 9.85 10.03 10.12 10.90 10.40 13.14 18.61 20.00 16.67 14.14 15.51

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
50.74 50.74 50.73 50.73 52.20 52.19 52.19 52.18 52.18 52.18 52.17 52.16
2.64 2.59 2.57 2.62 1.17 1.16 1.16 1.17 1.22 1.18 1.17 1.58
12.98 12.67 11.39 11.22 11.12 11.01 9.98 10.39 10.52 12.97 12.06 10.43
0.02 0.43 0.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
33.61 33.57 34.83 35.43 35.51 35.64 36.67 36.25 36.08 33.68 34.60 35.83

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