{"id":173156,"date":"2026-01-15T07:42:18","date_gmt":"2026-01-15T12:42:18","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=173156"},"modified":"2026-01-15T07:42:18","modified_gmt":"2026-01-15T12:42:18","slug":"swaraj-engines-q3-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/swaraj-engines-q3-fy26-earnings-results\/","title":{"rendered":"Swaraj Engines Q3 FY26 Earnings Results"},"content":{"rendered":"\n<p>Swaraj Engines was established in 1989 it manufactures diesel engines specifically for tractors in the range of 22 HP to above 65 HP and hi-tech engine components.<\/p>\n\n\n\n<div style=\"height:35px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Q3 FY26 Earnings Results<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations: \u20b9473.2 crore, up 37% YoY from \u20b9345.5 crore in Q3 FY25; highest\u2011ever quarterly revenue for the company.<\/li>\n\n\n\n<li>EBITDA: \u20b961.95 crore, up ~40% YoY from ~\u20b944 crore in Q3 FY25; EBITDA margin at ~13.1%, improving from ~12.8% YoY.<\/li>\n\n\n\n<li>Profit Before Tax (PBT): \u20b959.87 crore, up ~40% YoY from \u20b942.82 crore in Q3 FY25.\u200b<\/li>\n\n\n\n<li>Profit After Tax (PAT): \u20b942.10 crore, up ~31.6% YoY from \u20b931.9 crore in Q3 FY25.<\/li>\n\n\n\n<li>Operating margin: OPM at 13.1% vs 12.8% last year, indicating margin expansion on strong operating leverage.<\/li>\n\n\n\n<li>Volumes: Engine sales at 47,563 units, up ~38% YoY from 34,415 units; highest\u2011ever Q3 engine sales volume.\u200b<\/li>\n\n\n\n<li>9M FY26 snapshot:\n<ul class=\"wp-block-list\">\n<li>Engine sales: 147,767 units vs 123,226 units in 9M FY25.\u200b<\/li>\n\n\n\n<li>Net operating revenue: \u20b91,461 crore vs \u20b91,228 crore.\u200b<\/li>\n\n\n\n<li>PBT (before exceptional items): \u20b9194 crore, up 19.7% YoY; PBT (after exceptional items): \u20b9190.39 crore.\u200b<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Management Commentary &amp; Strategic Decisions (Q3 FY26)<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Management highlighted that <a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/2e16eb26-08d4-4bcd-99b3-5f807646be81.pdf\" target=\"_blank\" rel=\"noopener\">robust and sustained engine demand<\/a> from Mahindra\u2019s Swaraj tractor franchise drove record Q3 volumes and the highest\u2011ever nine\u2011month sales and profits.<\/li>\n\n\n\n<li>Margin improvement was attributed to operating leverage on higher volumes and disciplined cost control, even as input and employee costs remained under check.<\/li>\n\n\n\n<li>Strategically, the company continues to:\n<ul class=\"wp-block-list\">\n<li>Focus on capacity utilisation and debottlenecking to support higher demand from the tractor OEM.\u200b<\/li>\n\n\n\n<li>Maintain a lean cost structure and strong quality standards to preserve double\u2011digit margins through cycles.<\/li>\n\n\n\n<li>Leverage healthy rural demand and farm mechanisation trends to sustain volume growth over the medium term.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"839\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Swaraj-Engines-Q3-FY26-Earnings-Results-839x1024.png\" alt=\"Swaraj Engines Q3 FY26 Earnings Results\" class=\"wp-image-173157\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Swaraj-Engines-Q3-FY26-Earnings-Results-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Swaraj-Engines-Q3-FY26-Earnings-Results-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Swaraj-Engines-Q3-FY26-Earnings-Results-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Swaraj-Engines-Q3-FY26-Earnings-Results-1259x1536.png 1259w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Swaraj-Engines-Q3-FY26-Earnings-Results.png 1489w\" sizes=\"auto, (max-width: 839px) 100vw, 839px\" \/><\/figure>\n\n\n\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Q2 FY26 Earnings Results<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations: \u20b9504.04 crore, up 8.6% YoY from ~\u20b9464 crore in Q2 FY25 and up ~4.1% QoQ from ~\u20b9484 crore in Q1 FY26.<\/li>\n\n\n\n<li>Profit Before Tax (PBT): \u20b966.75 crore, up ~9.5% YoY from \u20b960.98 crore in Q2 FY25; broadly stable QoQ.<\/li>\n\n\n\n<li>Profit After Tax (PAT): \u20b949.68 crore, up 9.4% YoY from \u20b945.42 crore; marginally down ~0.6\u20131% QoQ vs ~\u20b949.97 crore in Q1 FY26.<\/li>\n\n\n\n<li>EPS: \u20b940.89 vs \u20b937.39 in Q2 FY25.<\/li>\n\n\n\n<li>Engine Sales: 51,164 units, up 9% YoY and 4.3% QoQ, a record quarterly sales performance at the time.<\/li>\n\n\n\n<li>Operating Profit: \u20b968.03 crore, up ~8.3% YoY.\u200b<\/li>\n\n\n\n<li>Margin profile: Operating margin around 13.5%, slightly compressed QoQ due to higher raw material and employee costs but still healthy.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:35px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Management Commentary &amp; Strategic Directions (Q2 FY26)<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Management noted that despite only moderate tractor industry growth, Swaraj Engines sustained strong revenue and profit growth via cost efficiencies, improved engine realisations and stable offtake from Mahindra\u2019s tractor division.<\/li>\n\n\n\n<li>The company emphasised maintaining high utilisation and consistent quality to support OEM demand while managing input\u2011cost headwinds.<\/li>\n\n\n\n<li>Strategic focus remained on:\n<ul class=\"wp-block-list\">\n<li>Deepening collaboration with the OEM (Mahindra Swaraj) for new models and higher\u2011HP engines.<\/li>\n\n\n\n<li>Incremental capacity and process improvements rather than large, lumpy capex.\u200b<\/li>\n\n\n\n<li>Protecting margins through efficiency gains and disciplined overhead control as volumes scale.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>To view the company\u2019s previous earnings and latest concall transcripts,&nbsp;<a href=\"https:\/\/alphastreet.com\/india\/\">click here<\/a>&nbsp; to visit the Alphastreet India news channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swaraj Engines was established in 1989 it manufactures diesel engines specifically for tractors in the range of 22 HP to above 65 HP and hi-tech engine components. Q3 FY26 Earnings Results Management Commentary &amp; Strategic Decisions (Q3 FY26) Q2 FY26 Earnings Results Management Commentary &amp; Strategic Directions (Q2 FY26) To view the company\u2019s previous earnings [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":173157,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,5753],"tags":[11920,10052],"class_list":["post-173156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-industrials","tag-buses","tag-tractors"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Swaraj-Engines-Q3-FY26-Earnings-Results.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":171699,"url":"https:\/\/alphastreet.com\/india\/swaraj-engines-q2-fy26-earnings-results\/","url_meta":{"origin":173156,"position":0},"title":"Swaraj Engines Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 21, 2025","format":false,"excerpt":"Swaraj Engines was established in 1989 it manufactures diesel engines specifically for tractors in the range of 22 HP to above 65 HP and hi-tech engine components. Presenting below are its Q2 FY26 earnings results. \u00a0 Q2 FY26 Earnings Results Revenue from Operations:\u00a0\u20b9504.04 crore, up 8.57% YoY and 4.1% QoQ,\u2026","rel":"","context":"In &quot;Agricultural Products&quot;","block_context":{"text":"Agricultural Products","link":"https:\/\/alphastreet.com\/india\/category\/agricultural-products\/"},"img":{"alt_text":"Swaraj Engines Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Swaraj-Engines-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Swaraj-Engines-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Swaraj-Engines-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Swaraj-Engines-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Swaraj-Engines-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Swaraj-Engines-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":177671,"url":"https:\/\/alphastreet.com\/india\/vakrangee-q3-fy26-earnings-results\/","url_meta":{"origin":173156,"position":1},"title":"Vakrangee Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 26, 2026","format":false,"excerpt":"Incorporated in 1990, Vakrangee Ltd provides diverse solutions, and activities in the e-commerce sector, including bullion and jewellery, through its Vakrangee Kendra (on B2B and B2C basis), and handles multi-state data digitization, software, and licence. Q3 FY26 Earnings Results Revenue from Operations: \u20b960.10 crore, down 11.46% YoY from \u20b967.88 crore.\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Vakrangee Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-61.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-61.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-61.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-61.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-61.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/image-61.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":173222,"url":"https:\/\/alphastreet.com\/india\/shoppers-stop-q3-fy26-earnings-results\/","url_meta":{"origin":173156,"position":2},"title":"Shoppers Stop Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 21, 2026","format":false,"excerpt":"Shoppers Stop Ltd. is the nation's leading premier retailer of fashion and beauty brands established in 1991.\u00a0It has 800+ Brands under its portfolio and 271 Stores spread across 50 cities in India as of 31st Dec 2022. Q3 FY26 Earnings Results (Standalone) Revenue from Operations: \u20b91,320.85 crore, up 0.7% YoY\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Shoppers Stop Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Shoppers-Stop-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Shoppers-Stop-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Shoppers-Stop-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Shoppers-Stop-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Shoppers-Stop-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Shoppers-Stop-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":173209,"url":"https:\/\/alphastreet.com\/india\/newgen-software-q3-fy26-earnings-results\/","url_meta":{"origin":173156,"position":3},"title":"Newgen Software Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 20, 2026","format":false,"excerpt":"Newgen Software Technologies is a global software Company and is engaged in the business of software product development including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to Document management to imaging. Q3 FY26 Earnings Results Revenue from Operations: \u20b9400.3 crore, flat\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Newgen Software Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Newgen-Software-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Newgen-Software-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Newgen-Software-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Newgen-Software-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Newgen-Software-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Newgen-Software-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":177637,"url":"https:\/\/alphastreet.com\/india\/stylam-industries-q3-fy26-earnings-results\/","url_meta":{"origin":173156,"position":4},"title":"Stylam Industries Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 26, 2026","format":false,"excerpt":"Stylam Industries is engaged in the manufacturing of decorative laminates under the brand name \u201cSTYLAM\u201d and exports its products primarily to European and South East Asian countries.It manufactures a wide range of high-quality decorative laminates, specialty surfaces, PU+ lacquer coating, solid surfaces and compact laminates.\u00a0 Q3 FY26 Earnings Results Revenue\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":173194,"url":"https:\/\/alphastreet.com\/india\/tips-music-q3-fy26-earnings-results\/","url_meta":{"origin":173156,"position":5},"title":"Tips Music Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 20, 2026","format":false,"excerpt":"Tips Industries Limited, incorporated in 1996, is engaged in the business of Production and Distribution of motion Pictures and acquisition and exploitation of Music of Rights. The company is also a leading producer of Punjabi films in the country. Q3 FY26 Earnings Results Revenue from Operations: \u20b994.3 crore, up 6.0%\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Tips Music Q3 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Tips-Music-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/173156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=173156"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/173156\/revisions"}],"predecessor-version":[{"id":173158,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/173156\/revisions\/173158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/173157"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=173156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=173156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=173156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}