The Board of Directors of Swaraj Engines Limited (Sel) met today to consider and approve the audited financial results for the financial year ended March 31, 2011.
Sel reported a Profit Before Tax (PBT) of Rs 16.5 crore for January-March 2011 against Rs 13.1 crore for the corresponding quarter last year, an increase of 25 per cent. The company sold 12,239 engines this year as compared to 10,406 engines last year, which resulted in an increase in its net revenue to Rs 96.9 crore, up from last year’s Rs 76.4 crore, an increase of 27 per cent. Profit After Tax (PAT) for the quarter touched Rs 11.1 crore (compared to last year’s Rs 9.2 crore).
For the financial year 2010-11, enhanced engine demand from its key customer — Mahindra & Mahindra Limited — Swaraj Division helped Sel post a PBT of Rs 64.4 crore as against last year’s PBT of Rs 54.7 crore.
The company’s continued focus on productivity improvement contributed to a great extent in meeting this increased demand. Sel sold 47,413 engines (compared to last year’s 39,143 engines) for financial year 2010-11, its highest ever in a single financial year.
The Board of Directors has also recommended an equity dividend of Rs 10.00 per share for the financial year 2010-11.