Swaraj Engines share price declined over 3% on Tuesday, 13 October, giving up some of the previous session's sharp gains despite the company's strong September-quarter results. The stock had surged nearly 15% on Monday, outperforming a weak broader market, after the company reported robust growth in revenue, profit and engine sales for Q2FY27.
Centrum Institutional Research has maintained a 'Buy' rating on Swaraj Engines, with a target price of ₹4,500 against the current market price of ₹3,621.55, implying an upside potential of around 24%.
According to a regulatory filing, Swaraj Engines' net profit rose 21.9% year-on-year (YoY) to ₹60.57 crore in Q2FY27, compared with ₹49.68 crore in the corresponding quarter of the previous financial year.
Revenue from operations increased 26% YoY to ₹635.19 crore from ₹504.04 crore in Q2FY26, reflecting sustained demand and higher engine sales.
The company continued to benefit from steady customer demand, selling 61,216 engines in the quarter ended 30 September 2026, up from 51,164 units in the year-ago period.