Swan Defence and Heavy Industries Ltd.
•Add ratio to table
ABOUT
KEY POINTS
Revenue Breakup Mar 2016 • Shipbuilding & Repairs: 100.0%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Operating margins have improved to -109.8% from -1464.1%
- Company has delivered good sales growth of 113.9% CAGR over last 5 years
- Institutional investors have been accumulating - FII+DII up 2.2pp
CONS
- Company is loss-making at the operating / net level
- Company has a high debt-to-equity of 42.33x
- Company has a low return on equity of -67.8% over last 3 years
- Interest coverage is weak at -17.5x - earnings barely cover interest
- Company has a low return on capital employed of -5.8%
- Promoter holding has decreased over last 2 years: -5.0pp
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MAZDOCK | 2409.00 | 34.00 | 97174.24 | 0.75 | 550.46 | 21.74 | 2942.70 | 12.08 | 36.51 | 16.48 |
| COCHINSHIP | 1554.30 | 60.12 | 40890.65 | 0.58 | 151.45 | -19.37 | 1094.21 | 2.40 | 17.60 | 17.65 |
| GRSE | 2492.40 | 35.66 | 28550.94 | 0.79 | 172.84 | 43.82 | 1814.62 | 38.53 | 43.66 | 8.22 |
| SWANDEF | 2589.50 | 0.00 | 13642.04 | 0.00 | -41.68 | -33.72 | 30.61 | 7188.33 | -7.79 | -68.66 |
| KMEW | 2961.30 | 57.97 | 7511.14 | 0.00 | 62.75 | 466.05 | 115.41 | 138.11 | 24.88 | 63.61 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 1 | 1 | 5 | 0 | 40 | 6 | 236 | 31 | |
| 6 | 5 | 6 | 12 | 28 | 35 | 37 | 14 | 32 | 47 | 26 | 487 | 83 | |
| Operating Profit | -6 | -5 | -6 | -12 | -28 | -34 | -36 | -9 | -32 | -8 | -20 | -250 | -53 |
| OPM % | — | — | — | — | — | -3550.00% | -3118.10% | -192.26% | -7528.57% | -19.43% | -341.57% | -105.98% | -171.84% |
| 1 | 1 | 0 | 0 | 2 | 0 | 1 | 5 | 18 | 5 | 5 | 130 | 11 | |
| Interest | 3 | 8 | 5 | 10 | 10 | 6 | 2 | 2 | 2 | 2 | 3 | 5 | 16 |
| Depreciation | 17 | 17 | 17 | 17 | 15 | 15 | 15 | 16 | 15 | 15 | 16 | 18 | 15 |
| Profit before Tax | -25 | -30 | -27 | -39 | -51 | -54 | -53 | -23 | -31 | -20 | -33 | -143 | -42 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| Net Profit | -25 | -30 | -27 | -39 | -51 | -54 | -53 | -23 | -31 | -20 | -33 | -143 | -42 |
| -94.03 | -111.21 | -102.38 | -144.84 | -191.82 | -16.67 | -10.03 | -4.34 | -5.92 | -3.86 | -6.34 | -27.07 | -7.90 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 519 | 335 | 180 | 75 | 6 | 6 | 3 | 0 | 7 | 282 | 312 | |
| 531 | 815 | 319 | 277 | 30 | 33 | 54 | 29 | 115 | 592 | 643 | |
| Operating Profit | -12 | -480 | -139 | -201 | -24 | -27 | -51 | -29 | -108 | -310 | -331 |
| OPM % | -2.41% | -143.23% | -77.14% | -266.83% | -375.82% | -420.95% | -1609.61% | — | -1534.69% | -109.79% | -105.89% |
| 80 | 207 | -8,618 | -17 | -1,298 | 13 | 19,526 | 2 | 8 | 158 | 151 | |
| Interest | 573 | 697 | 1,278 | 1,328 | 2,032 | 1,999 | 1,470 | 26 | 21 | 12 | 26 |
| Depreciation | 201 | 198 | 66 | 75 | 74 | 74 | 68 | 68 | 61 | 63 | 63 |
| Profit before Tax | -706 | -1,169 | -10,101 | -1,621 | -3,427 | -2,086 | 17,937 | -121 | -181 | -228 | -238 |
| Tax % | 25.88% | 18.18% | -3.76% | -0.00% | -0.00% | -0.00% | 0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| Net Profit | -523 | -956 | -10,481 | -1,621 | -3,427 | -2,086 | 17,937 | -121 | -181 | -228 | -238 |
| EPS | 0.00 | 0.00 | 0.00 | -21.98 | -46.46 | -28.29 | 66875.20 | -452.46 | -34.45 | -43.19 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -1%
- 5 Years:
- 114%
- 3 Years:
- 347%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 409%
RETURN ON EQUITY
- 10 Years:
- -38%
- 5 Years:
- -41%
- 3 Years:
- -68%
- Last Year:
- -128%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 736 | 738 | 738 | 738 | 738 | 738 | 3 | 3 | 53 | 53 |
| 434 | -515 | -10,996 | -12,617 | -16,043 | -18,130 | 542 | 421 | 239 | 12 | |
| 8,337 | 4,709 | 5,550 | 6,788 | 2,978 | 2,973 | 2,131 | 2,207 | 2,492 | 2,771 | |
| Trade Payables | 268 | 288 | 281 | 300 | 322 | 340 | 78 | 37 | 57 | 39 |
| 1,404 | 6,212 | 7,787 | 8,835 | 15,811 | 17,819 | 29 | 73 | 48 | 288 | |
| Total Liabilities | 11,179 | 11,432 | 3,360 | 4,043 | 3,805 | 3,741 | 2,783 | 2,740 | 2,888 | 3,162 |
| 5,064 | 4,966 | 1,446 | 1,480 | 1,406 | 1,332 | 1,232 | 1,168 | 1,180 | 1,187 | |
| Capital Work in Progress | 4,015 | 4,486 | 103 | 37 | 37 | 37 | 37 | 43 | 155 | 166 |
| 31 | 21 | 21 | 21 | 2 | 2 | 2 | 2 | 2 | 253 | |
| 775 | 698 | 622 | 495 | 2,089 | 2,086 | 1,405 | 1,405 | 1,401 | 952 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | |
| Cash & Bank | 117 | 176 | 56 | 16 | 19 | 28 | 8 | 19 | 29 | 289 |
| 1,177 | 1,085 | 1,113 | 1,995 | 253 | 256 | 99 | 104 | 120 | 302 | |
| Total Assets | 11,179 | 11,432 | 3,360 | 4,043 | 3,805 | 3,741 | 2,783 | 2,740 | 2,888 | 3,162 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -347 | -254 | -263 | -1,255 | 709 | 2,007 | 1,425 | -70 | -96 | 182 | |
| Cash from Investing | -100 | 34 | 81 | 41 | -1 | 2 | 12 | -11 | -162 | -440 |
| Cash from Financing | 427 | 252 | 151 | 1,177 | -707 | -1,999 | -1,460 | 91 | 268 | 413 |
| -8 | 41 | -27 | -35 | 1 | 11 | -20 | 10 | 10 | 156 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - Swan Defence and Heavy Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 02, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-08-26 - Swan Defence and Heavy Industries Limited has informed the Exchange about the receipt of the certified true copy of the Order obtained from the Hon ble National Company Law Tribunal, Ahmedabad Bench in the matter of Scheme of Arrangement and Amalgamation between Triumph Offshore Private Limited ("Transferor Company") and Swan Defence and Heavy Industries Limited ("Transferee Company") and their respective shareholders and creditors.
2026-08-20 - Swan Defence and Heavy Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - Swan Defence and Heavy Industries Limited has informed the Exchange about Copy of Newspaper Publication regarding the Notice of the 29th Annual General Meeting of the Company.
2026-08-12 - Swan Defence and Heavy Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-11 - Swan Defence and Heavy Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-11 - Swan Defence and Heavy Industries Limited has informed the Exchange about Copy of Newspaper Publication regarding the Notice of the 29th Annual General Meeting of the Company.
2026-08-10 - Swan Defence and Heavy Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 02, 2026
2026-08-07 - Swan Defence and Heavy Industries Limited has informed the Exchange about Copy of Newspaper Publication regarding Publication of Notice of the 29th Annual General Meeting of the Company
News
Recent coverage and analyst commentary for SWANDEF
Loading news…
AI Stock Analyst
Swan Defence and Heavy Industries Ltd.
Sign in to Chat with AI
Log in with your 5nance account to ask institutional questions about performance, financials, and outlook.
✨ Sign In to ChatFree 5nance Account