Swan Defence and Heavy Industries Ltd

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

₹ 2,942 0.37%
21 Oct - 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 ₹ 15,509 Cr.
  • Current Price ₹ 2,942
  • High / Low ₹ 3,020 / 736
  • Stock P/E 44.4
  • Book Value ₹ 429
  • Dividend Yield 0.00 %
  • ROCE -7.60 %
  • ROE -124 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Debtor days have improved from 20.6 to 16.0 days.

Cons

  • Stock is trading at 6.85 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of -48.9% over last 3 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

Part of BSE Industrials

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2020 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
2 0 0 0 1 1 5 0 40 6 236 31 69
20 6 12 28 35 38 14 32 48 26 487 52 87
Operating Profit -18 -6 -12 -28 -34 -37 -9 -32 -8 -20 -250 -21 -18
OPM % -912% -3,550% -3,159% -192% -7,529% -20% -341% -106% -69% -26%
-161 0 0 2 1 1 5 18 31 5 131 12 57
Interest 389 5 10 10 6 2 2 2 2 3 5 17 19
Depreciation 18 17 17 15 15 15 16 15 15 16 18 15 17
Profit before tax -586 -27 -39 -51 -53 -53 -23 -31 6 -33 -142 -42 3
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 110% 0% 0% 0% -17,117%
-586 -27 -39 -51 -53 -53 -23 -31 -1 -33 -142 -42 566
EPS in Rs -7.94 -5.21 -7.37 -9.77 -10.13 -10.13 -4.34 -5.84 -0.10 -6.28 -27.00 -7.91 107.52
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
912 312 563 378 180 75 6 6 3 0 7 282 342
830 459 529 557 266 253 30 33 36 29 115 591 651
Operating Profit 81 -147 34 -179 -86 -178 -24 -27 -33 -29 -108 -309 -309
OPM % 9% -47% 6% -47% -48% -235% -376% -421% -1,039% -1,619% -110% -91%
31 34 39 -84 -9,011 -42 -1,298 13 19,508 2 8 158 204
Interest 487 537 626 754 1,368 1,469 2,032 1,999 1,470 26 21 12 44
Depreciation 204 221 208 208 70 72 74 74 68 68 61 63 65
Profit before tax -578 -871 -760 -1,224 -10,536 -1,761 -3,427 -2,086 17,937 -121 -182 -228 -214
Tax % -36% -32% -24% -17% 4% 0% 0% 0% 0% 0% 0% 0%
-371 -592 -577 -1,012 -10,927 -1,761 -3,427 -2,086 17,937 -121 -181 -226 349
EPS in Rs -5.03 -8.05 -7.84 -13.72 -148.14 -23.87 -46.46 -28.28 243.19 -22.89 -34.36 -42.88 66.33
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -1%
5 Years: 114%
3 Years: 347%
TTM: 642%
Compounded Profit Growth
10 Years: 5%
5 Years: 14%
3 Years: 23%
TTM: 432%
Stock Price CAGR
10 Years: 48%
5 Years: 293%
3 Years: %
1 Year: 319%
Return on Equity
10 Years: %
5 Years: %
3 Years: -49%
Last Year: -124%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 736 736 736 738 738 738 738 738 3 3 53 53 53
Reserves 1,880 1,289 711 -294 -11,159 -12,915 -16,042 -18,127 545 474 243 17 2,209
6,893 8,306 9,456 10,689 11,780 12,918 15,433 15,436 2,148 2,219 2,505 2,788 1,199
1,918 1,491 1,519 1,862 2,788 4,007 3,678 5,697 91 48 91 310 435
Total Liabilities 11,427 11,821 12,422 12,994 4,146 4,747 3,807 3,743 2,785 2,743 2,892 3,167 3,896
6,060 5,861 5,654 5,547 2,022 1,973 1,406 1,332 1,232 1,168 1,180 1,187 1,185
CWIP 3,519 3,884 4,268 4,692 103 37 37 37 37 43 155 166 193
Investments 302 302 315 303 303 303 3 4 4 5 5 258 783
1,546 1,774 2,184 2,453 1,718 2,435 2,361 2,370 1,512 1,528 1,551 1,556 1,734
Total Assets 11,427 11,821 12,422 12,994 4,146 4,747 3,807 3,743 2,785 2,743 2,892 3,167 3,896

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
432 -598 -318 -224 -113 -1,183 710 2,007 1,428 -70 -96 182
-1,069 -25 -122 -15 -16 49 -1 2 12 -11 -162 -440
617 644 429 280 102 1,099 -707 -1,999 -1,460 91 268 413
Net Cash Flow -20 20 -10 41 -27 -35 1 11 -20 10 10 156
Free Cash Flow -538 -625 -427 -243 -114 -1,162 710 2,007 1,440 -80 -259 104
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 540% 401% -966% 129% 148% 667% -2,994% -7,543% -4,343% 243% 89% -59%

Ratios

Consolidated / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 18 13 2 14 11 14 149 47 0 25 16
Inventory Days 405 3,982 892 657 1,466 7,331 692,279 1,972,614 1,899,893 165,503 739
Days Payable 399 1,770 313 274 673 4,512 112,894 109,865 49,762 6,676 30
Cash Conversion Cycle 24 2,225 582 396 805 2,833 149 579,431 1,862,749 158,852 725
Working Capital Days -817 -2,952 -2,287 -9,356 -25,570 -68,665 -969,876 -1,083,806 127,588 63,122 1,099
ROCE % -1% -3% -1% -3% -2% -22% -17% -26% -4% -6% -8%

Insights

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Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Annual Steel Fabrication Capacity
Tonnes per Annum ・Standalone data

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Permanent Employees on Rolls
Number ・Standalone data
Vessels Delivered
Number ・Standalone data
Vessels Under Construction / Work-in-Progress
Number ・Standalone data

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Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
94.91% 94.91% 94.91% 94.91% 94.91% 94.91% 94.91% 94.91% 94.91% 89.90% 89.90% 89.90%
0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.01% 0.60% 0.67% 0.71%
0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.38% 2.05% 1.93% 1.73%
4.66% 4.66% 4.66% 4.66% 4.66% 4.67% 4.66% 4.66% 4.70% 7.44% 7.49% 7.66%
No. of Shareholders 1,01,2371,01,2371,01,2371,01,2371,00,66299,42898,30296,58693,16687,73084,20481,042

* 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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Concalls

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