Swaraj Engines (SWARAJENG) Q2 24/25 earnings summary

Executive summary

• Achieved all-time high quarterly profit before tax (PBT) of Rs. 60.98 crores in Q2 FY25, marking the 10th consecutive quarter of year-over-year profit growth.

• Recorded best-ever quarterly engine sales volume at 46,962 units, up 24% from 37,876 units in Q2 FY24.

• Net operating revenue for Q2 FY25 rose to Rs. 464.24 crores, a 19% increase year-over-year.

Financial highlights

• Q2 FY25 net profit after tax (PAT) reached Rs. 45.42 crores, up 20.6% from Rs. 37.67 crores in Q2 FY24.

• H1 FY25 engine sales were 88,811 units, up 16.4% year-over-year; net operating revenue for H1 FY25 was Rs. 882.23 crores, up from Rs. 788.73 crores.

• H1 FY25 PBT was Rs. 119.01 crores (vs. Rs. 105.65 crores YoY); PAT was Rs. 88.61 crores (vs. Rs. 78.59 crores YoY).

• Basic EPS for Q2 FY25 was Rs. 37.39, up from Rs. 31.01 in Q2 FY24.

Outlook and guidance

• Management highlighted robust engine demand and continued growth momentum, with expectations to sustain performance in the coming quarters.