Interest and depreciation absorbed much of Swaraj's operating profit
The consolidated Q1FY27 operating margin was 19.37%, while Rs 11.46 cr of interest and Rs 5.51 cr of depreciation weighed on profit before tax.
Filed 10 Sep 2026, 17:58 IST · after market close · SWARAJ (SWARAJ)
Key takeaways
- Consolidated operating profit of Rs 35.52 cr translated into a 19.37% operating margin in Q1FY27.
- Interest of Rs 11.46 cr and depreciation of Rs 5.51 cr reduced operating profit to Rs 20.98 cr of profit before tax.
- Net profit was Rs 16.42 cr after a 21.76% tax rate, while other income contributed Rs 2.43 cr.
Operating profit was cut sharply before tax
Swaraj reported consolidated revenue of Rs 183.37 cr and operating profit of Rs 35.52 cr in Q1FY27. Interest of Rs 11.46 cr and depreciation of Rs 5.51 cr together reduced this to Rs 20.98 cr of profit before tax. The reported 19.37% operating margin therefore did not flow through in full to pre-tax profit.
Other income and tax supported the reported profit
Other income was Rs 2.43 cr against profit before tax of Rs 20.98 cr, so the quarter's result was not solely generated by operations. Tax of Rs 4.57 cr, equivalent to a 21.76% tax rate, brought net profit to Rs 16.42 cr and EPS to Rs 6.23.
No market reaction or comparison is available yet
The consolidated results were filed after market close on 10 September 2026, so there is no reported post-results stock reaction to assess. No year-on-year or sequential comparison, sector peer benchmark, or multi-quarter trend is available for this quarter.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹183 cr |
| Other income | ₹2 cr |
| Expenses | ₹148 cr |
| Operating profit | ₹36 cr |
| Operating margin (%) | 19.37% |
| Interest | ₹11 cr |
| Depreciation | ₹6 cr |
| Profit before tax | ₹21 cr |
| Tax | ₹5 cr |
| Net profit | ₹16 cr |
| EPS (₹) | ₹6.23 |
What to watch
- Whether operating margin remains at 19.37% in the next reported quarter.
- Whether interest stays near the Q1FY27 level of Rs 11.46 cr.
- Whether the tax rate remains close to 21.76%.