The victims, Ankit Parte and Anil Baghel, are undergoing treatment in Seoni District Hospital.
Both were deployed near a village in Selua and Dundalkhera forest area. Late last night, they tried to stop a tractor-trolley carrying illegally mined sand when they were attacked by a group of persons, suspected to be linked to sand mafia, armed with spade and axe, police said.
The injured guards were taken to a local hospital from where they were shifted here.
A case has been registered against the local Sarpanch's husband and some others in this regard and further investigation was on, police added.