Swaraj Engines Limited (SEL) Q2 FY26 Performance Update

Swaraj Engines Limited (SEL) announced its results for the second quarter and the first half ended September 30, 2025. Q2 FY26 Highlights: Net Profit: Increased 11% year-on-year (YoY) to ₹50 crore, up from ₹45 crore in Q2 FY2024. Revenue: Grew 9% YoY to ₹504 crore, compared to ₹464 crore in the year-ago quarter. EBITDA: Rose 8% YoY to ₹68 crore from ₹63 crore. EBITDA Margin: Stood at 13.5%, a slight dip from 13.6% in Q2 FY2024. Engine Sales: Total units sold were 51,164, an increase from 46,962 units in Q2 FY25. Despite the rise in net profit, SEL's shares experienced a fall of over 5% following the announcement. H1 FY26 (First Half) Record Performance: SEL achieved its highest-ever half-yearly performance metrics: Engine Sales: Reached 1,00,204 units, marking a 12.8% increase from 88,811 units in H1 FY25. Net Operating Revenue: Recorded a high of ₹988.14 crore. Profit Before Tax (PBT): Stood at ₹133.92 crore. Profit After Tax (PAT): Reached a record ₹99.65 crore. SEL, founded in 1985, primarily supplies engines to the Swaraj Division of Mahindra & Mahindra Ltd. This strong operational performance in H1 FY26 sets a positive benchmark, although the market reaction for Q2 results was muted.