Swaraj Engines rose 1.73% to Rs 506.70 at 14:04 IST on BSE after net profit rose 22.85% to Rs 17.20 crore on 24% growth in operating revenue to Rs 151.60 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced after market hours on Monday, 21 October 2013.
Meanwhile, the S&P BSE Sensex was down 37.65 points or 0.18% at 20,856.24.
On BSE, 1,368 shares were traded in the counter as against average daily volume of 2,347 shares in the past one quarter.
The stock hit a high of Rs 510 and a low of Rs 505 so far during the day. The stock had hit a 52-week high of Rs 535 on 10 July 2013. The stock had hit a 52-week low of Rs 382 on 12 April 2013.
The stock had outperformed the market over the past one month till 21 October 2013, surging 8.28% compared with the Sensex's 3.11% rise. The scrip had also outperformed the market in past one quarter, advancing 0.63% as against Sensex's 3.69% rise.
The small-cap company has equity capital of Rs 12.42 crore. Face value per share is Rs 10.
Swaraj Engines attributed the top line growth to the increase in the engine sales volume which was however, constrained by lower off-take of engine components for LCV engines.
Swaraj Engines' profit before tax (PBT) rose 25% to Rs 25 crore in Q2 September 2013 over Q2 September 2012.
Swaraj Engines (SEL) was set up in 1985 in Mohali, Punjab. SEL is in the business of supplying engines to Swaraj Division of Mahindra & Mahindra (M&M). The company is also a supplier of hi-tech engine components to SML Isuzu. M&M currently holds 33.2% stake in SEL.
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