SMC Global Securities
Swaraj Engines is engaged in manufacturing engines for fitment in to Swaraj Tractors which is manufactured by M&M at its Swaraj Division. The management of the company expects good growth for demand of domestic tractor due to govt’s continued thrust ion agri and rural sector, which would help the company to increase market share and financial growth of the company.
The central government has time and again reiterated its aim to double farm income by 2022 which has envisaged to be attained through better productivity and enhanced farm realisations.
It is a leading supplier of engines for the tractors to market leader M&M. The company is one of the key players to benefit from this transition.
The research firm has a buy on Swaraj Engines with target of Rs 2440 per share.
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