Swaraj Engines

Govt focus on agri, rural incomes to sustain tractor demand: Swaraj Engines

The government's focus on improving the state of agriculture in India and several initiatives taken by it to drive higher rural incomes are likely to support to sustain the tractor demand momentum despite industry sales witnessing a decline of 7 per cent, according to Swaraj Engines Ltd. The company, which supplies diesel engines for tractors manufactured by M&M Swaraj Division, in its annual report for 2023-24, said the growing horticultural segment in the country also offers good opportunities to increase tractor penetration in the lower horsepower (HP) market. "The domestic tractor industry for FY24 at 8,75,700 units registered a degrowth of 7 per cent over last year's (FY23) 9,45,300 units mainly because of erratic and uneven rainfall distribution that impacted kharif output, coupled with the high industry base of FY23," it said. On the outlook and opportunities, Swaraj Engines in its management discussion and analysis said factors like increasing affordability with adequate ..

M&M rolls out new wheel harvester under Swaraj, targets 15-20% mkt share

Mahindra & Mahindra Ltd (M&M Ltd) on Wednesday rolled out a new wheel harvester under the Swaraj brand in the domestic market as it looks to tap aggressively the farm mechanisation market in the country. With its latest offering, the brand is aiming for a 15-20 per cent market share in the wheel harvester segment in the long-term, Harish Chavan, Chief Executive Officer at Swaraj Division, said. Manufactured at the company's new farm machinery facility at Pithampur near Indore in Madhya Pradesh, the new 'Swaraj 8200 Wheel Harvester' will be available from the upcoming crop season for the customers through its dealerships pan-India, he said. "The mechanisation in the harvesting space (in the country) is still picking up. We want to give shape to it and that is the reason we want to participate now aggressively as we are participating in tractor segment," Chavan told PTI. He said that with the tractor industry growth reaching an all-time high, the agri mechanisation sector is ...

Swaraj Engines surges 15% as M&M plans to buy additional 17.41% stake

With this, M&M's stake in SEL would increase from 34.72 per cent to 52.13 per cent

M&M to acquire Swaraj Engines' 17.41% stake from Kirloskar Industries

Mahindra & Mahindra(M&M) Ltd on Tuesday said it will acquire an additional 17.41 per cent stake in Swaraj Engines Ltd from Kirloskar Industries Ltd (KIL) for Rs 296 crore. The acquisition will result in increasing the company's stake in Swaraj Engines Ltd (SEL) to 52.13 per cent from 34.72 per cent, M&M said in a regulatory filing. The company proposes to acquire 21,14,349 equity shares constituting 17.41 per cent of the paid up equity share capital of SEL from KIL at a price of Rs 1,400 per share, it said. Consequently, SEL, which is currently an associate of the company, would become a subsidiary of M&M, the filing said. Based in Mohali, Punjab, SEL is in the business of manufacturing of diesel engines and its components. It was promoted in 1985 by erstwhile Punjab Tractors Ltd, which has since merged with M&M, and the then Kirloskar Oil Engines Ltd (now KIL). It had a total revenue from operations of Rs 1,138.15 crore for the year ended March 31, 2022, it said.

Swaraj Engines surges 8% on strong March quarter results, dividend bounty

The company announced a total dividend of Rs 69 per share for the financial year 2020-21, including a special dividend of Rs 19 per share

Swaraj Engines surges 11% as board mulls share buyback

The board of directors of the company will meet on November 28, 2017, to consider the proposal to buyback the fully paid-up equity share

Swaraj Engines hits 52-week high post Q1 results

The stock rallied 10% to Rs 1,294, also its 52-week high on the BSE in intra-day trade.

Swaraj Engines hits record high post Q4 results

The stock moved higher to its record high of Rs 1,175, up 5% on the BSE in otherwise range bound market.