Buy Swaraj Engines, target price Rs 2688: HDFC Securities

HDFC Securities has buy call on Swaraj Engines with a target price of Rs 2688. The current market price of Swaraj Engines Ltd. is Rs 2391.5.

Swaraj Engines Ltd., incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 2921.23 Crore) operating in Engineering sector.

Swaraj Engines Ltd. key Products/Revenue Segments include Engine Components, Other Operating Revenue and Sale of services for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Standalone Total Income of Rs 392.14 Crore, down -3.03 % from last quarter Total Income of Rs 404.38 Crore and up 1.26 % from last year same quarter Total Income of Rs 387.25 Crore. Company reported net profit after tax of Rs 37.67 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 52.12 per cent stake in the company as of 30-Sep-2023, while FIIs owned 2.6 per cent, DIIs 8.51 per cent.