Swan Corp Ltd

₹ 449 1.94%

28 Nov - close price

About

Swan Energy Limited (SEL) was originally incorporated in 1909 as Swan Mills Ltd. (SML), a manufacturer and marketer of cotton and polyester textile products in India. Over the years, it diversified into Real estate and is developing a Floating Storage and Regasification Units -based liquid natural gas (LNG) import terminal at Jafrabad in Gujarat.^[1]^[2]

Key Points

Business Segments
1) Distribution & Development (74% in H1 FY25 vs 21% in FY23): ^[1] ^[2] In January 2023, the company completed the acquisition of a majority stake in Veritas India Ltd (VIL) for Rs. 260 Cr. VIL trades and distributes chemicals and petrochemical products used in paint, oil refining, etc. It operates a terminal in Hamriyah, UAE, with a capacity of 1,70,000 MT. ^[3] ^[4]

Website BSE NSE

Market Cap ₹ 14,068 Cr.
Current Price ₹ 449
High / Low ₹ 810 / 362
Stock P/E 24.2
Book Value ₹ 236
Dividend Yield 0.02 %
ROCE -1.44 %
ROE -4.47 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Debtor days have improved from 231 to 99.9 days.

Cons

Company has a low return on equity of -0.52% over last 3 years.
Company might be capitalizing the interest cost
Earnings include an other income of Rs.2,000 Cr.
Promoter holding has decreased over last 3 years: -10.1%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Chemicals & Petrochemicals Petrochemicals

Part of BSE 500 Nifty 500 BSE SmallCap Nifty Smallcap 100 BSE Allcap BSE Commodities BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	143.47	101.10	933.19	804.30	1,223.26	1,591.68	1,397.91	1,141.74	1,032.19	1,908.19	855.75	1,213.18	1,138.34
	142.12	114.69	749.26	566.96	966.30	1,335.84	1,280.38	760.85	912.09	2,564.45	841.85	1,186.43	1,133.30
Operating Profit	1.35	-13.59	183.93	237.34	256.96	255.84	117.53	380.89	120.10	-656.26	13.90	26.75	5.04
OPM %	0.94%	-13.44%	19.71%	29.51%	21.01%	16.07%	8.41%	33.36%	11.64%	-34.39%	1.62%	2.20%	0.44%
	2.52	55.58	4.24	4.15	6.85	62.78	9.14	19.82	31.32	1,868.73	24.18	59.28	47.47
Interest	55.83	56.08	61.62	57.41	58.34	57.53	53.01	52.63	65.66	44.73	22.64	22.29	21.47
Depreciation	18.22	18.25	26.82	26.79	27.10	27.16	33.92	27.51	28.36	60.57	30.84	30.10	30.42
Profit before tax	-70.18	-32.34	99.73	157.29	178.37	233.93	39.74	320.57	57.40	1,107.17	-15.40	33.64	0.62
Tax %	-17.37%	-51.48%	37.69%	7.93%	7.18%	5.96%	-39.86%	16.50%	-16.95%	49.24%	45.13%	19.77%	1,043.55%
	-57.99	-15.70	62.14	144.82	165.56	219.99	55.59	267.67	67.13	561.95	-22.35	26.99	-5.87
EPS in Rs	-1.21	0.64	0.21	2.80	3.20	4.36	0.85	4.43	1.64	18.59	-0.57	0.61	-0.12
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	333	314	332	351	347	892	341	320	487	1,438	5,017	4,938	5,115
	295	284	304	317	312	814	289	252	419	1,207	4,149	5,079	5,726
Operating Profit	38	31	28	33	35	78	52	68	68	231	868	-141	-611
OPM %	11%	10%	8%	10%	10%	9%	15%	21%	14%	16%	17%	-3%	-12%
	14	14	7	13	110	19	9	4	7	11	82	1,944	2,000
Interest	38	30	24	32	58	54	50	108	189	223	226	186	111
Depreciation	12	10	11	12	14	14	15	42	70	81	115	147	152
Profit before tax	3	5	0	3	73	29	-4	-78	-184	-62	609	1,470	1,126
Tax %	117%	43%	229%	78%	25%	121%	14%	-12%	-14%	-2%	4%	41%
	-0	3	-0	1	55	-6	-5	-69	-158	-61	586	874	561
EPS in Rs	-0.02	0.14	-0.01	0.03	2.24	-0.22	-0.20	-2.81	-5.98	-2.31	9.61	24.10	18.51
Dividend Payout %	-772%	110%	-582%	272%	4%	-46%	-51%	-4%	-2%	-4%	1%	0%

Compounded Sales Growth
10 Years:	32%
5 Years:	71%
3 Years:	116%
TTM:	-1%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	-58%
TTM:	75%

Stock Price CAGR
10 Years:	20%
5 Years:	26%
3 Years:	22%
1 Year:	-27%

Return on Equity
10 Years:	-2%
5 Years:	-2%
3 Years:	-1%
Last Year:	-4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	22	22	22	22	24	24	24	24	26	26	31	31	31
Reserves	409	408	408	409	907	899	890	850	1,219	2,257	6,248	7,311	7,365
	565	705	817	821	912	1,077	1,206	3,077	4,117	4,985	3,449	2,823	2,543
	570	554	538	596	793	1,169	1,368	985	1,035	2,956	2,439	3,437	3,653
Total Liabilities	1,565	1,690	1,785	1,848	2,636	3,170	3,489	4,936	6,397	10,225	12,168	13,604	13,593
	379	373	384	604	577	564	556	2,282	2,238	4,225	4,148	3,734	3,771
CWIP	450	509	551	313	617	1,224	1,685	1,927	2,389	3,253	3,657	3,870	3,945
Investments	1	1	2	8	324	149	8	1	3	30	134	668	318
	735	807	848	923	1,118	1,233	1,239	726	1,768	2,717	4,229	5,331	5,559
Total Assets	1,565	1,690	1,785	1,848	2,636	3,170	3,489	4,936	6,397	10,225	12,168	13,604	13,593

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-159	-110	123	69	62	42	-95	302	29	-491	26	-529
	-105	-61	-63	-29	-533	-763	-324	-2,001	-494	-860	-512	1,346
	256	173	-45	-29	481	707	427	1,760	1,309	598	1,604	-560
Net Cash Flow	-9	2	15	12	10	-14	8	62	843	-752	1,118	257

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	72	67	64	96	60	17	58	33	160	453	139	100
Inventory Days	710	812	793	790	861	74	206	293	192	89	21	146
Days Payable	108	85	69	110	384	19	92	67	232	329	19	70
Cash Conversion Cycle	674	793	788	777	536	71	172	259	120	213	142	176
Working Capital Days	77	316	188	-244	-369	-572	-1,522	-1,237	-365	24	104	62
ROCE %	4%	3%	2%	3%	3%	3%	2%	1%	0%	2%	8%	-1%

Shareholding Pattern

Numbers in percentages

1 Recently

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	64.09%	64.09%	64.09%	64.09%	64.09%	53.96%	53.96%	53.96%	53.96%	53.96%	53.96%	53.96%
	17.16%	17.13%	17.12%	17.56%	10.47%	11.16%	11.84%	11.79%	10.82%	10.25%	9.36%	8.89%
	2.92%	2.92%	2.89%	2.90%	5.82%	14.33%	14.81%	13.65%	13.18%	13.24%	13.22%	12.90%
	15.84%	15.85%	15.90%	15.45%	19.61%	20.53%	19.37%	20.58%	22.02%	22.53%	23.45%	24.25%
No. of Shareholders	16,227	18,760	19,493	40,019	56,452	98,555	94,730	1,23,321	1,37,945	1,50,875	1,60,674	1,60,856

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	71.66%	64.89%	64.89%	64.89%	64.89%	64.09%	64.09%	53.96%	53.96%	53.96%
	10.39%	8.90%	8.59%	8.41%	8.11%	8.50%	17.13%	11.16%	10.25%	8.89%
	2.74%	3.90%	3.90%	3.95%	3.52%	2.88%	2.92%	14.33%	13.24%	12.90%
	15.21%	22.31%	22.62%	22.75%	23.48%	24.53%	15.85%	20.53%	22.53%	24.25%
No. of Shareholders	11,598	8,124	8,051	7,262	6,290	9,929	18,760	98,555	1,50,875	1,60,856

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Swan Corp Ltd

Swan Corp Ltd

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Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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