Profit before tax rose 61.3% to Rs 47.08 crore in Q4 FY23 as against Rs 29.18 crore recoded in Q4 FY22.

Operating profit for the March 2023 quarter was Rs 47.98 crore, higher by 54.3% as compared with Rs 31.10 crore recorded in the same period last year. Operational efficiencies coupled with better spread of fixed costs at higher activity level helped to improve margins.

The engine sales for the Q4 FY23 stood at 34,841 units, registering a growth of 45.6% as against 23,937 units sold during the corresponding quarter of last year.

For finanacial year 2023, the company's consolidated net profit advanced 22.1% to Rs 133.61 crore on 24.9% jump in net sales to Rs 1,421.82 crore in FY23 over FY22.

The board earlier in October 22 had approved the capacity enhancement from 1,50,000 engines to 1,80,000 engines per annum. Considering the expected future engine demand in the coming years, the Board has given its approval to further enhance the engine capacity to 1,95,000 units per annum. The total projected outlay for the same would be financed through internal generations /surplus available with the company.

The board has recommended a dividend of Rs 92 per share for FY23.

Swaraj Engines was set up in 1985 in Mohali, Punjab and is primarily engaged in the business of supplying engines to the Swaraj Division of Mahindra & Mahindra (M&M).