**** Swaraj Engine Q4 result ****
The domestic tractor industry, after witnessing the downtrend during first three quarters of FY 2019-20, had shown some signs of recovery in the fourth quarter. However, sudden announcement of countrywide lockdown from 25th March, 2020 has impacted the overall sales for the quarter. As a result, the domestic tractor industry for the last quarter of fiscal 2020 closed with de-growth of 9%.
In the backdrop of above industry scenario, the Company's engine sales for the fourth quarter of FY 20 also got impacted and stood at 20,827 units compared to 21,767 units - drop of 4.3%. Consequently, Q4 net operating revenue was Rs. 175.13 crores (last year Rs. 191.47 crores). While Profit Before Tax for the quarter stood at Rs. 21.43 crores (last year Rs. 25.76 crores) and Profit After Tax, before other comprehensive income (net of tax) reached Rs. 15.84 crores (last year Rs. 16.65 crores). With other comprehensive Income (net of tax) of Rs. (0.43) crore, total comprehensive income for the quarter was Rs. 15.41 crores (last year Rs. 16.51 crores)
Outlook
The spread of COVID-19 has affected the economic activity across the Globe including India. This event could affect the business of the Company and the impact of the same will depend on future developments that cannot be predicted reliably at this stage. The Company will closely monitor any material changes to future economic conditions impacting its business.
Company's operations, which were suspended since 23rd March, 2020, has now started after obtaining the necessary permissions from the local authorities and will increase its activity level gradually.
Shares of SWARAJ ENGINES LTD. was last trading in BSE at Rs.980 as compared to the previous close of Rs. 990. The total number of shares traded during the day was 223 in over 70 trades.
The stock hit an intraday high of Rs. 1026.1 and intraday low of 965. The net turnover during the day was Rs. 218431.
Source: Equity Bulls
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