In this work, we report on the application of the adjoint variable method (AVM) to sensitivity analysis of switched reluctance motors (SRMs). Using at most one adjoint simulation, the sensitivities of the desired response with respect to all geometrical and material parameters are estimated. In this work, the AVM evaluates the sensitivities of the air region magnetic energy and the electromagnetic torque of a SRM with respect to all parameters. Good match is achieved between the AVM sensitivities and those estimated using the more accurate but computationally expensive central finite differences (CFD).