Swaraj Engines (SEL) reported a robust Q1FY17 performance with highest ever quarterly engine sales volume • Sales volumes in Q1FY17 were at 20910 units (up 13.7% YoY) with corresponding net sales at | 171.7 crore (up 12.1% YoY) • EBITDA for the quarter came in at | 28.3 crore with corresponding EBITDA margins at 16.5%, up 194 bps YoY • PAT in Q1FY17 was at | 19.0 crore, up 21.6% YoY.ICICI Securities Limited have valued SEL at | 1320 i.e. 22x P/E (1.0x PEG) on FY18E EPS of | 60 with a BUY rating on the stock.Trendlyne has 3 reports on SWARAJENG updated in the last year from 1 broker with an average target of Rs 1320. Brokers have a rating for SWARAJENG with 1 price upgrade in past 6 months.