Swan Defence and Heavy Industries Ltd

Swan Defence Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Swan Defence and Heavy Industries Ltd

₹ 1,687 5.00%
06 Jan - close price
rnaval.co.in BSE: 533107 NSE: SWANDEF
About

Incorporated in 1997, Swan Defence and Heavy Industries Ltd is engaged in the construction of vessels, repairs, and refits of ships and rigs and heavy engineering[1]

Key Points

Operational Overview:[1]
a) Expansive Infrastructure:
The company boasts one of the world’s largest shipbuilding infrastructures, featuring a 662 x 65 m dry dock with a capacity of 4 lakh DWT. This dry dock can be split into multiple slots, allowing the simultaneous construction and delivery of several vessels.

Website BSE NSE - BE
  • Market Cap ₹ 8,889 Cr.
  • Current Price ₹ 1,687
  • High / Low ₹ 1,772 / 36.0
  • Stock P/E
  • Book Value ₹ 46.5
  • Dividend Yield 0.00 %
  • ROCE -5.76 %
  • ROE -46.3 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Stock is trading at 36.3 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -37.8% over past five years.
  • Company might be capitalizing the interest cost

* 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

Industrials Capital Goods Industrial Manufacturing Ship Building & Allied Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
26 21 11 17 2 0 0 0 1 1 5 0 40
23 18 62 151 20 6 12 28 35 37 14 32 47
Operating Profit 3 3 -50 -133 -18 -6 -12 -28 -34 -36 -9 -32 -8
OPM % 12% 15% -444% -773% -912% -3,550% -3,118% -192% -7,529% -19%
1 1 1 -44 -161 0 0 2 1 1 5 18 5
Interest 357 361 357 394 389 5 10 10 6 2 2 2 2
Depreciation 17 17 19 18 18 17 17 15 15 15 16 15 15
Profit before tax -371 -375 -426 -589 -586 -27 -39 -51 -53 -53 -23 -31 -20
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-371 -375 -426 -589 -586 -27 -39 -51 -53 -53 -23 -31 -20
EPS in Rs -5.03 -5.09 -5.77 -7.98 -7.94 -5.21 -7.37 -9.77 -10.13 -10.04 -4.34 -5.84 -3.77
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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
2,534 912 312 563 378 180 75 6 6 3 0 7 46
1,907 830 459 529 557 266 253 30 33 36 29 115 131
Operating Profit 626 81 -147 34 -179 -86 -178 -24 -27 -33 -29 -108 -85
OPM % 25% 9% -47% 6% -47% -48% -235% -376% -421% -1,039% -1,536% -184%
38 31 34 39 -84 -9,011 -42 -1,298 13 19,508 2 8 29
Interest 477 487 537 626 754 1,368 1,469 2,032 1,999 1,470 26 21 10
Depreciation 166 204 221 208 208 70 72 74 74 68 68 61 61
Profit before tax 21 -578 -871 -760 -1,224 -10,536 -1,761 -3,427 -2,086 17,937 -121 -182 -126
Tax % 87% -36% -32% -24% -17% 4% 0% 0% 0% 0% 0% 0%
3 -371 -592 -577 -1,012 -10,927 -1,761 -3,427 -2,086 17,937 -121 -181 -126
EPS in Rs 0.04 -5.03 -8.05 -7.84 -13.72 -148.14 -23.87 -46.46 -28.28 243.19 -22.89 -34.36 -23.99
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -39%
5 Years: -38%
3 Years: 4%
TTM: 4698%
Compounded Profit Growth
10 Years: 4%
5 Years: 14%
3 Years: 24%
TTM: 27%
Stock Price CAGR
10 Years: 35%
5 Years: 250%
3 Years: 783%
1 Year: %
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: -46%

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 736 736 736 736 738 738 738 738 738 3 3 53 53
Reserves 1,607 1,880 1,289 711 -294 -11,159 -12,915 -16,042 -18,127 545 474 243 192
5,527 6,893 8,306 9,456 10,689 11,780 12,918 15,433 15,436 2,148 2,219 2,505 2,615
2,210 1,918 1,491 1,519 1,862 2,788 4,007 3,678 5,697 91 48 91 52
Total Liabilities 10,080 11,427 11,821 12,422 12,994 4,146 4,747 3,807 3,743 2,785 2,743 2,892 2,911
2,865 6,060 5,861 5,654 5,547 2,022 1,973 1,406 1,332 1,232 1,168 1,180 1,203
CWIP 3,218 3,519 3,884 4,268 4,692 103 37 37 37 37 43 155 160
Investments 2 302 302 315 303 303 303 3 4 4 5 5 26
3,995 1,546 1,774 2,184 2,453 1,718 2,435 2,361 2,370 1,512 1,528 1,551 1,522
Total Assets 10,080 11,427 11,821 12,422 12,994 4,146 4,747 3,807 3,743 2,785 2,743 2,892 2,911

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
742 432 -598 -318 -224 -113 -1,183 710 2,007 1,428 -70 -97
-824 -1,069 -25 -122 -15 -16 49 -1 2 12 -11 -162
83 617 644 429 280 102 1,099 -707 -1,999 -1,460 91 269
Net Cash Flow 0 -20 20 -10 41 -27 -35 1 11 -20 10 10

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 201 18 13 2 14 11 14 149 47 0 24
Inventory Days 85 405 3,982 892 657 1,466 7,331 692,279 1,972,614 1,899,893 165,503
Days Payable 116 399 1,770 313 274 673 4,512 112,894 109,865 49,762 6,676
Cash Conversion Cycle 170 24 2,225 582 396 805 2,833 149 579,431 1,862,749 158,851
Working Capital Days -371 -817 -2,952 -2,287 -9,356 -25,570 -68,665 -969,876 -1,083,806 127,588 59,890
ROCE % 7% -1% -3% -1% -3% -2% -22% -17% -26% -4% -6%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
0.00% 0.00% 0.00% 0.00% 94.91% 94.91% 94.91% 94.91% 94.91% 94.91% 94.91% 94.91%
0.11% 0.51% 0.52% 0.48% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
7.93% 7.93% 7.93% 7.93% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40%
91.96% 91.56% 91.55% 91.58% 4.66% 4.66% 4.66% 4.66% 4.66% 4.67% 4.66% 4.66%
No. of Shareholders 1,93,4921,92,9781,91,2851,91,1291,01,2371,01,2371,01,2371,01,2371,00,66299,42898,30296,586

* 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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Documents

Announcements

Annual reports