Hold Swaraj Engines, target price Rs 1680: ICICI Direct

ICICI Direct has hold call on Swaraj Engines with a target price of Rs 1680. The current market price of Swaraj Engines is Rs 1500. Time period given by analyst is one year when Swaraj Engines Ltd. price can reach defined target.

Swaraj Engines Ltd., incorporated in the year 1985, is a Small Cap company (having a market cap of Rs 1829.68 Crore) operating in Engineering sector.

Swaraj Engines Ltd. key Products/Revenue Segments include Engines, Spares And Others, Scrap, Engine Components and Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Standalone Total Income of Rs 244.64 Crore, up 1.97 % from last quarter Total Income of Rs 239.92 Crore and down -20.35 % from last year same quarter Total Income of Rs 307.15 Crore. Company reported net profit after tax of Rs 21.86 Crore in latest quarter.

Investment Rationale
The brokerage maintains HOLD rating tracking muted growth prospects in tractor space on high base of FY21 amid high dividend payout & resulting yield

Promoter/FII Holdings
Promoters held 52.13 per cent stake in the company as of 31-Mar-2022, while FIIs owned 1.84 per cent, DIIs 8.91 per cent.