NSE: SWARAJENG | BSE: 500407

Strong Performer, Getting Expensive

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4208.30 -157.60 (-3.61%)

67.20% Gain from 52W Low

32,201 NSE+BSE Volume

NSE 25 Jul, 2025 3:31 PM (IST)

5,112

Market Cap

Above industry Median

1.3

Beta 1Year

Very High Volatility

Swaraj Engines Ltd. share price target and research reports

Name: Latest research reports of Swaraj Engines Ltd. authored by ICICI Direct and published by - Trendlyne research reports.
Item: Swaraj Engines Ltd.
Rating: 3
Author: ICICI Direct

Latest analyst research reports with target prices and PDF download for SWARAJENG, BSE:500407 Swaraj Engines Ltd.

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Swaraj Engines Ltd.

28 Apr 2023

4208.30

-3.61%

Swaraj Engines

Not Rated: Swaraj Engines Ltd.

ICICI Direct

Swaraj Engines Ltd. is trading above all available SMAs

Swaraj Engines Ltd.

21 Sep 2022

4208.30

-3.61%

Swaraj Engines

Hold: Swaraj Engines Ltd.

ICICI Direct

Swaraj Engines Ltd. has gained 42.02% in the last 1 Year

Swaraj Engines Ltd.

19 Jul 2021

4208.30

-3.61%

Swaraj Engines (SELL): Healthy Q1; cut to SELL on recent stock rally

Sell: Swaraj Engines Ltd.

Recommendation Target

BOB Capital Markets Ltd.

Above-expected volumes and higher ASP supported healthy revenue growth in Q1FY22 while limited RM cost impact further drove adj. PAT

Swaraj Engines Ltd. is trading above all available SMAs

Swaraj Engines Ltd.

23 Apr 2021

4208.30

-3.61%

Swaraj Engines - Company Update - Packing a punch

Accumulate: Swaraj Engines Ltd.

Target

Monarch Networth Capital Limited

Outlook: With a normal monsoon expected this year too, we think that low reservoir levels in Northern and Eastern India should not pose a challenge thus, keeping the rural water supply in check. While all the auto segments are facing a semiconductor shortage, we feel that tractors should not be affected by this much. With a high base of FY21, we...

Swaraj Engines Ltd. has gained 36.45% in the last 6 Months

Swaraj Engines Ltd.

22 Apr 2021

4208.30

-3.61%

First Light | Swaraj Engines

Buy: Swaraj Engines Ltd.

Recommendation

BOB Capital Markets Ltd.

Better sales mix to aid earnings; upgrade to ADD

Swaraj Engines Ltd. has gained 36.45% in the last 6 Months

Swaraj Engines Ltd.

21 Apr 2021

4208.30

-3.61%

Swaraj Engines

Buy: Swaraj Engines Ltd.

Target

ICICI Securities Limited

We maintain our positive stance on SEL amid a highly capital efficient business model, robust cash flow generation and overall positive farm sentiments domestically. Building in ~13/10% sales/PAT CAGR in FY21-23E...

Swaraj Engines Ltd. has gained 42.02% in the last 1 Year

Swaraj Engines Ltd.

20 Apr 2021

4208.30

-3.61%

Swaraj Engines (ADD): Better sales mix to aid earnings; upgrade to ADD

Accumulate: Swaraj Engines Ltd.

BOB Capital Markets Ltd.

Swaraj Engines' (SWE) Q4FY21 revenue was below estimates on lower volumes.

Swaraj Engines Ltd. is trading above all available SMAs

Swaraj Engines Ltd.

25 Jan 2021

4208.30

-3.61%

Swaraj Engines - Company Update - Reaping the fruit of timely CAPEX

Hold: Swaraj Engines Ltd.

Recommendation Target

Monarch Networth Capital Limited

Outlook: As per our previous update, the MSP hike for FY2021 has continued with key crops' price being raised by an average of ~4%. With most regional reservoirs consistently clocking healthy water level (> 10-year average) and the normal monsoon that we have recently witnessed; we stick to our view of low rural water woes for the coming year. Based on lockdown led pent-up production and sales surge in FY21, we...

Swaraj Engines Ltd. has gained 42.02% in the last 1 Year

Swaraj Engines Ltd.

02 Nov 2020

4208.30

-3.61%

Swaraj Engines

Buy: Swaraj Engines Ltd.

Target

ICICI Securities Limited

Margins for FY21E are expected to dip to ~13%, largely tracking a subdued performance in Q1FY21. However, from FY22E onwards, SEL is seen climbing back to erstwhile 14-15% trajectory amid operating leverage benefits. On the B/S front, SEL remains a debt-free, cash rich company with cash & liquid investments worth ~| 182 crore on books as of FY20 (~10% of current market cap). Negative working capital cycle demonstrates the strength of the business model. It has a track record of robust capital efficiency (30% RoE, 34% RoCE, 163% RoIC as of FY20), while cash...

Swaraj Engines Ltd. has gained 42.02% in the last 1 Year

Swaraj Engines Ltd.

28 Oct 2020

4208.30

-3.61%

Swaraj Engines - Company Update - The tough gets going

Sell: Swaraj Engines Ltd.

Monarch Networth Capital Limited

Outlook: With most regional reservoirs consistently clocking healthy water level (> 10year average) and the healthy monsoon that we have witnessed; we stick to our view of low rural water woes for at least two years. The MSP hike for FY2021 has continued with key crops' price being raised by an average of ~4%. Thus, favourable tractor drivers bolster our existing conviction in SEL's cash-rich and debt-free business. Valuation & Risks: We continue to value SEL using the DCF methodology to arrive at a fair value of Rs 1,305 and maintain REDUCE. We have slightly revised our earnings estimates accounting for the current high capacity utilisation. While SEL's business and industry fundamentals are intact, we feel that COVID-19 related uncertainty still...

Swaraj Engines Ltd. has gained 36.45% in the last 6 Months

Is Swaraj Engines Ltd. worth buying?

135 Votes:

Buy 80.74%

Sell 11.11%

Hold 8.15%