Swaraj Engines share price today

Swaraj Engines Ltd's share price was ₹3,547.50 at the close on 4 November 2026. It has been falling for 10 weeks. That is 3.1% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹3,405 and ₹4,053, and at that close it sat 22% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Swaraj Engines Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 3 weeks in a row.

Over the last 11 years the share price moved +316% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 10 quarters in a row, profit up on a year earlier for 10 quarters in a row and foreign funds (FIIs) cut their stake for 4 quarters in a row.

1. Revenue up on a year earlier for 10 quarters in a row

   In the September 2026 quarter revenue was ₹635 crore, +26% on a year earlier.

2. Profit up on a year earlier for 10 quarters in a row

   In the September 2026 quarter profit was ₹61 crore, +22% on a year earlier.

3. Foreign funds (FIIs) cut their stake for 4 quarters in a row

   From 3.9% to 2.3% of the company by the September 2026 quarter.

Swaraj Engines paid ₹110 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 3.10% at the ₹3,547.50 close on 4 November 2026. The last was a dividend of ₹110 a share, ex-date 3 July 2026.

Swaraj Engines dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Swaraj Engines Ltd paid out 68% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

For July to September 2026 (the quarter ended 30 September 2026), Swaraj Engines reported revenue of ₹635 crore, up 26.0% from ₹504 crore a year earlier, and a profit of ₹61.0 crore, up 22.0% from ₹50.0 crore.

Swaraj Engines results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Swaraj Engines closed at ₹3,547.50 on 4 November 2026, down 8.9% from ₹3,893.10 a year earlier (7 November 2025) and up 105.3% over five years. Its highest weekly close since March 2016 was ₹4,427.80 on 19 September 2025.

Swaraj Engines share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

562 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Swaraj Engines closed at ₹3,547.50, up 3.6% on the week and up 0.1% on the month. Results for July to September 2026: Revenue up 26.0% and profit up 22.0% on a year earlier.

Earlier

• 3 Jul 2026: ex-date for a dividend of ₹110 a share.

Swaraj Engines' management made 0 promises we could check against what it later reported.

Our read after the January to March 2026 results, written 27 June 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Two consecutive quarters of reported revenue declining more than 10% on a on a year earlier basis, confirmed by SIAM monthly tractor data showing M&M losing market share or total tractor industry volumes falling for two seasons, would signal that the captive-supplier advantage has weakened and that volume attrition is structural rather than seasonal.

Our read after the January to March 2026 results, written 27 June 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Swaraj Engines is on 2 of our India lists: 52 week high & low and Dividend stocks.

Swaraj Engines Ltd earned ₹61.0 Cr of net profit in the Sep 2026 quarter, +22.0% on the same quarter a year earlier. That is the 10th quarter in a row of profit growth. Full-year FY26 profit was ₹196 Cr. Over 10 years profit has grown 14.4% a year on average. That is 9.6% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹50.0 Cr.

For the full year, FY26 profit was ₹196 Cr (+18.1% on the year before).

Why profit moved: revenue changed +26.0% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +21.9% and revenue +26.1%. Profit is growing slower than sales: rising costs are taking part of the growth.

FY27-Q1. revenue ₹588 Cr and profit ₹56 Cr as reported.

FY27-Q2. revenue ₹635 Cr and profit ₹61 Cr as reported.

Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters.

Swaraj Engines Ltd reported ₹635 Cr of revenue in the Sep 2026 quarter, +26.0% on the same quarter a year earlier. That is the 10th quarter in a row with growth on the year before. Over 10 years it has grown 14.3% a year on average. The last full year, FY26, came in at ₹2,007 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹2,242 Cr.

FY26 revenue was ₹2,007 Cr, +19.3% on the year before.

Recent pace: the last four quarters grew +26.1% on average, against 14.3% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +25.4%, against +21.7% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +20.9%, against +20.7% a year (stabilising).

FY27-Q1. revenue ₹588 Cr and profit ₹56 Cr as reported.

FY27-Q2. revenue ₹635 Cr and profit ₹61 Cr as reported.

Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters.

Swaraj Engines Ltd's operating margin was 14.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Across 13 years it has been between 13.0% and 16.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed +0.1 percentage points on the year while gross margin changed −0.2 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

FY27-Q1. revenue ₹588 Cr and profit ₹56 Cr as reported.

FY27-Q2. revenue ₹635 Cr and profit ₹61 Cr as reported.

Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters.

Over the last 3 years, 87% of Swaraj Engines Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹117 Cr of operating cash against ₹196 Cr of profit. After ₹69.0 Cr of spending on assets, ₹48.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 87% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: the bigger use of cash is spending on new assets, at 2.2× depreciation over three years. The next section checks what that spending is building.

Swaraj Engines Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −3 days in FY26, up from −7 days in FY21. It spent ₹131 Cr on assets over the last 3 years. Customers take 37 days to pay, and stock sits for 17 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹2,007 Cr, each day of that cycle ties up about ₹5.5 Cr, so roughly −₹16.0 Cr is tied up in the business at any time.

FY26: customers took 37 days to pay and stock sat for 17 days, about 0.6 months of sales sitting as stock, for a full cycle of −3 days, longer than FY21's −7.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 17 days. Customers pay about 37 days after that. Suppliers are paid at 58 days. Together that makes the −3-day cycle.

Spending on assets: ₹131 Cr over the last 3 years, against ₹59.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹55.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Swaraj Engines Ltd's P/E is 20.0×, near the low end of its own history: it has been lower only 32% of the time. Its usual P/E (the middle reading) is 22.2×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹175.11.