 "Swaraj Engines hits record high post Q4 results")
Swaraj Engines has moved higher to its record high of Rs 1,175, up 5% on the BSE in otherwise range bound market, after the company reported 41% jump in net profit at Rs 11.65 crore for the quarter ended March 2016 (Q4). The auto parts & equipment maker had profit of Rs 8.25 crore in the year ago quarter.
Net sales of the company increased by 9% to Rs 113 crore against Rs 104 crore in the corresponding quarter of previous fiscal.
Earnings before interest, taxes, depreciation and amortization (EBITDA) margins improved by 100 basis points to 13.8% from 12.8% on back of increased revenue coupled with operational efficiencies.
Net sales of the company increased by 9% to Rs 113 crore against Rs 104 crore in the corresponding quarter of previous fiscal.
Earnings before interest, taxes, depreciation and amortization (EBITDA) margins improved by 100 basis points to 13.8% from 12.8% on back of increased revenue coupled with operational efficiencies.
On full year basis, the net profit remain flat at Rs 51.20 crore, while net sales declined 2.4% at Rs 523 crore in FY 2015-16.
The board has recommended a total dividend of 330% (Rs 33 per share), including a special dividend payment of 180% (Rs 18 per share) for the FY 2015-16, the same rate paid in FY 2014-15.
At 11:04 am, the stock was up 4% at Rs 1,167 on the BSE as compared to a marginal 0.04% decline in the benchmark S&P BSE Sensex. A combined 37,642 shares changed hands on the counter on the BSE and NSE.
