Swaraj Engines Share Price: Hold Swaraj Engines, Target Price Rs 1680: ICICI Direct

ICICI Direct has held a call on Swaraj Engines with a target price of Rs 1680. The current market price of Swaraj Engines is Rs 1500. The period given by the analyst is one year when the price of Swaraj Engines Ltd. can achieve the set goal.

Swaraj Engines Ltd., incorporated in 1985, is a small capitalization company (having a market capitalization of Rs 1829.68 Crore) operating in the engineering sector.

The main products/revenue segments of Swaraj Engines Ltd. include engines, spare and other parts, scrap metal, engine components and service sales for the year ending March 31, 2021.


For the quarter ended 31-03-2022, the company reported total standalone revenue of Rs 244.64 Crore, up 1.97% from last quarter, total revenue of Rs 239.92 Crore and a down -20.35% compared to the same quarter last year. Total revenue of Rs 307.15 Crore. The company reported a net profit after tax of Rs 21.86 Crore last quarter.

Investment rationale
Brokerage maintains HOLD rating as it tracks muted growth outlook in tractor space on high FY21 basis amid high dividend payout and resulting yield

Promoter/Fii Holdings
The promoters held 52.13% of the company’s capital as of March 31, 2022, while the FIIs held 1.84% and the DIIs 8.91%.

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