SWAN DEFENCE AND HEAVY INDUSTRIES LIMITED

BSE: SWANDEF533107ISIN INE542F01020

Industrials
Ship Building & Allied Services

BSE listing

Share price

₹2,727.40+17.60 (+0.65%)

as of 18 Sep 2026

52W high: ₹2,770.00
52W low: ₹606.15
Off 52W high: -1.54%
1M return: +15.01%
3M return: +35.09%
6M return: +32.56%
1Y return: +372.44%
20D avg volume: 1,102
50 DMA: ₹2,451.95
200 DMA: ₹1,717.73

Key ratios Consolidated

Market cap: ₹14,369 Cr
Current price: ₹2,727.40
52W high / low: ₹2,770.00 / ₹606.15
Face value: ₹10.00
P/E: -60.68
P/B: —
EPS (TTM): ₹-44.95
Book value / share: —
ROE: —
ROCE: -7.60%
Operating margin: —
Net margin: —
Debt / equity: 39.13
Net debt: ₹2,541 Cr
Interest cover: -17.47
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 1,197.0 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	30.61	236.28	5.87	39.57	0.42	4.91	1.16	0.96	0.00	0.00	0.00	0.00
	11.00	130.07	5.10	4.73	17.95	7.16	0.87	0.50	1.97	0.21	0.50	0.51
	83.21	508.97	44.35	64.62	49.54	32.73	54.90	55.76	53.42	39.06	27.96	30.34
	0.45	2.30	0.08	18.18	0.00	2.65	1.72	0.87	0.75	0.12	0.10	0.02
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	12.36	10.03	9.66	9.21	7.17	6.18	5.78	6.01	3.92	2.26	0.78	0.82
	16.48	4.78	2.91	2.28	2.35	2.46	2.49	5.68	10.31	10.29	4.75	7.96
	15.18	17.51	15.53	15.08	15.15	15.92	15.08	15.04	14.84	16.99	17.20	17.21
	38.74	38.92	16.17	19.87	10.61	8.42	21.99	22.66	19.91	5.54	2.56	1.88
	-41.60	-142.63	-33.39	-20.32	-31.17	-20.66	-52.87	-54.30	-51.45	-38.85	-27.46	-29.83
	0.00	0.00	0.00	0.00	0.00	-2.23	0.00	0.00	0.00	0.00	0.00	0.00
	-41.60	-142.63	-33.39	-20.32	-31.17	-22.89	-52.87	-54.30	-51.45	-38.85	-27.46	-29.83
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	-41.68	-142.15	-33.11	-19.86	-30.79	-22.77	-53.36	-53.39	-51.45	-38.85	-26.98	-29.33
	-7.91	-26.98	6.28	-3.77	-5.84	-4.32	-10.13	-10.13	-192.12	-145.55	-100.59	-109.35
Key metrics
	-9.94	-120.34	-14.95	-2.96	-13.67	-4.51	-35.30	-33.58	-26.30	-11.57	-5.51	-4.66
	-32.50%	-50.90%	-254.70%	-7.50%	-3,254.80%	-91.90%	-3,043.10%	-3,497.90%	—	—	—	—
	-136.20%	-60.20%	-564.10%	-50.20%	-7,331.00%	-463.70%	-4,600.00%	-5,561.50%	—	—	—	—
	—	-4.90%	—	-0.70%	—	-0.80%	—	—	—	—	—	—
	7,188.10%	4,712.20%	406.00%	4,021.90%	—	—	—	—	—	—	—	—
	-35.40%	-524.30%	37.90%	62.80%	40.20%	41.40%	-97.80%	-82.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	312.33	282.14	7.03	0.00	3.16	6.32	6.30	75.49	180.00	378.56	564.05
	150.90	157.84	10.50	2.46	4.60	11.07	24.28	23.72	4.66	78.57	39.07
	701.15	667.49	196.81	123.82	1,592	2,105	2,136	1,794	1,704	1,519	1,363
	21.01	20.56	0.69	0.27	0.26	1.10	1,586	32.52	196.38	346.28	231.53
	0.00	0.00	0.00	—	—	—	—	5.16	—	43.54	—
	41.26	36.07	21.89	4.72	3.26	4.80	7.70	20.54	24.51	33.92	—
	26.45	12.32	20.94	26.39	1,470	1,999	2,032	1,469	1,368	754.08	625.50
	63.30	63.27	60.88	68.46	68.29	73.96	73.78	71.95	70.50	—	—
	113.70	85.57	90.01	12.66	39.58	15.80	10.68	169.51	71.71	95.65	208.68
	-237.94	-227.51	-179.28	-121.36	-1,584	-2,088	-2,105	-1,695	-1,520	-1,062	-760.12
	0.00	0.00	-2.23	0.00	19,521	1.66	-1,322	-66.08	-9,016	-162.40	0.00
	-237.94	-227.51	-181.51	-121.36	17,937	-2,086	-3,427	-1,761	-10,536	-1,224	-760.12
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	391.36	212.45	182.80
	-236.80	-225.91	-181.05	-121.36	17,937	-2,086	-3,427	-1,761	-10,927	-1,012	-577.32
	-32.38	-42.88	-51.51	-449.59	66,875	-28.28	-46.45	—	-148.14	—	-7.84
Key metrics
	-148.19	-151.92	-99.69	-26.51	19,475	-13.87	-1,321	-220.06	-9,097	-470.34	-134.62
	-47.45%	-53.80%	-1,418.10%	—	6,16,295.90%	-219.50%	-20,976.00%	-291.50%	-5,053.90%	-124.20%	-23.90%
	-75.82%	-80.10%	-2,575.40%	—	5,67,624.40%	-33,005.50%	-54,395.70%	-2,332.40%	-6,070.30%	-267.30%	-102.40%
	—	-7.60%	-6.20%	—	—	—	—	—	—	—	—
	—	3,913.40%	—	-100.00%	-50.00%	0.30%	-91.70%	-58.10%	-52.50%	-32.90%	—
	—	-24.80%	-49.20%	-100.70%	959.90%	39.10%	-94.60%	83.90%	-979.70%	-75.30%	—
	—	182.06	-141.02	—	—	—	—	—	—	—	—
	—	-0.81	0.53	—	—	—	—	—	—	—	—
	—	39.13	8.23	—	—	—	—	—	—	—	—
	—	2,541	2,403	—	—	—	—	—	—	—	—
	—	1,197.0	69,834.9	—	—	—	—	—	—	—	—
Balance sheet
	—	3,167	2,892	—	—	—	—	—	—	—	—
	—	1,464	1,475	—	—	—	—	—	—	—	—
	—	184.02	28.38	—	—	—	—	—	—	—	—
	—	12.32	0.46	—	—	—	—	—	—	—	—
	—	952.08	1,401	—	—	—	—	—	—	—	—
	—	209.85	44.47	—	—	—	—	—	—	—	—
	—	1,138	1,180	—	—	—	—	—	—	—	—
	—	39.13	56.53	—	—	—	—	—	—	—	—
	—	326.39	292.01	—	—	—	—	—	—	—	—
	—	2,725	2,432	—	—	—	—	—	—	—	—
	—	0.00	188.00	—	—	—	—	—	—	—	—
	—	2,725	2,244	—	—	—	—	—	—	—	—
	—	69.64	295.61	—	—	—	—	—	—	—	—
Cash flow
	—	182.06	-96.79	—	—	—	—	—	—	—	—
	—	-439.80	-161.70	—	—	—	—	—	—	—	—
	—	413.38	268.66	—	—	—	—	—	—	—	—
	—	0.00	44.23	—	—	—	—	—	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	30.61	236.28	5.87	39.57	0.42	4.91	1.16	0.96	—	—	—	—
	11.00	130.07	5.10	4.73	17.95	7.16	0.88	0.50	1.97	0.21	0.50	0.51
	83.21	508.97	44.35	64.62	49.54	32.73	54.90	55.76	53.42	39.06	27.96	30.34
	0.45	2.30	0.08	18.18	0.00	-2.65	1.72	0.87	0.75	0.12	0.10	0.02
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	12.36	10.03	9.66	9.21	7.17	6.18	5.78	6.01	3.92	2.26	0.78	0.82
	16.48	4.78	2.91	2.28	2.35	2.46	2.49	5.68	10.31	10.29	4.75	7.96
	15.18	17.51	15.53	15.08	15.15	15.92	15.08	15.04	14.84	16.99	17.20	17.21
	38.74	38.92	16.17	19.87	10.61	8.42	21.99	22.66	19.91	5.54	2.56	1.88
	-41.60	-142.63	-33.39	-20.32	-31.17	-20.66	-52.86	-54.30	-51.45	-38.85	-27.46	-29.83
	0.00	0.00	0.00	0.00	0.00	-2.23	—	—	—	—	—	—
	-41.60	-142.63	-33.39	-20.32	-31.17	-22.89	-52.86	-54.30	-51.45	-38.85	-27.46	-29.83
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	-41.60	-142.63	-33.39	-20.32	-31.17	-22.89	-52.86	-54.30	-51.45	-38.85	-27.46	-29.83
	-7.90	-27.07	-6.34	-3.86	-5.92	-4.34	-10.03	-10.31	-191.82	-144.84	-102.38	-111.21
Key metrics
	-9.94	-120.34	-14.95	-2.96	-13.67	-4.51	-35.29	-33.58	-26.30	-11.57	-5.51	-4.66
	-32.50%	-50.90%	-254.70%	-7.50%	-3,254.80%	-91.90%	-3,042.20%	-3,497.90%	-1,335.00%	-5,509.50%	-1,102.00%	-913.70%
	-135.90%	-60.40%	-568.80%	-51.40%	-7,421.40%	-466.20%	-4,556.90%	-5,656.20%	-2,611.70%	-18,500.00%	-5,492.00%	-5,849.00%
	—	-4.90%	—	-0.70%	—	-0.80%	—	—	—	—	—	—
	7,188.10%	4,712.20%	406.00%	4,021.90%	-78.70%	2,238.10%	132.00%	88.20%	—	—	—	—
	-33.50%	-523.10%	36.80%	62.60%	39.40%	41.10%	-92.50%	-82.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	312.33	282.14	7.03	—	3.16	6.32	6.30	75.49	180.00	335.17	519.46
	150.90	157.84	10.51	2.46	4.60	11.07	24.28	23.71	4.63	78.67	44.68
	701.15	667.49	196.81	123.82	1,636	2,105	2,136	1,654	1,539	1,420	1,270
	21.01	20.56	0.69	0.27	0.26	1.10	1,586	32.52	—	346.28	231.53
	0.00	0.00	0.00	—	—	—	—	5.16	—	—	—
	41.26	36.07	21.89	4.72	3.26	4.80	7.69	20.54	24.51	33.77	38.01
	26.45	12.32	20.94	26.39	1,470	1,999	2,032	1,328	1,278	697.39	572.64
	63.30	63.27	60.88	68.46	68.29	73.96	73.78	74.61	65.66	198.07	200.65
	113.70	85.57	90.01	12.66	39.58	15.81	14.23	168.24	68.16	106.52	224.63
	-237.94	-227.51	-179.27	-121.36	-1,628	-2,088	-2,105	-1,555	-1,354	-1,006	-706.23
	0.00	0.00	-2.23	—	-0.10	1.66	-1,322	-66.08	-8,747	-162.40	—
	-237.94	-227.51	-181.50	-121.36	-1,628	-2,086	-3,427	-1,621	-10,101	-1,169	-706.23
	0.00	0.00	0.00	—	—	—	—	—	380.06	212.45	182.80
	-237.94	-227.51	-181.50	-121.36	-1,628	-2,086	-3,427	-1,621	-10,481	-956.09	-523.43
	-45.17	-43.19	-51.64	-452.46	66,874	-28.29	-46.46	-21.98	-142.10	—	-7.11
Key metrics
	-148.19	-151.92	-99.68	-26.51	-89.95	-13.88	-1,321	-218.71	-8,757	-273.08	67.06
	-47.45%	-53.80%	-1,417.90%	-1,077.60%	-2,846.50%	-219.60%	-20,976.00%	-289.70%	-4,865.10%	-81.50%	12.90%
	-76.18%	-80.60%	-2,581.80%	-4,933.30%	-51,518.00%	-33,012.80%	-54,398.10%	-2,147.70%	-5,822.80%	-285.30%	-100.80%
	—	-7.60%	-6.20%	—	—	—	—	—	—	—	—
	—	3,913.40%	185.80%	-22.20%	-50.00%	0.30%	-91.70%	-58.10%	-46.30%	-35.50%	—
	—	-25.30%	-49.60%	92.50%	22.00%	39.10%	-111.40%	84.50%	-996.20%	-82.70%	—
	—	182.06	-141.02	—	—	—	—	—	—	—	—
	—	-0.80	0.53	—	—	—	—	—	—	—	—
	—	42.33	8.33	—	—	—	—	—	—	—	—
	—	2,541	2,403	—	—	—	—	—	—	—	—
	—	1,197.0	69,834.9	—	—	—	—	—	—	—	—
Balance sheet
	—	3,162	2,888	—	—	—	—	—	—	—	—
	—	1,464	1,475	—	—	—	—	—	—	—	—
	—	184.02	28.38	—	—	—	—	—	—	—	—
	—	12.32	0.46	—	—	—	—	—	—	—	—
	—	952.08	1,401	—	—	—	—	—	—	—	—
	—	209.85	44.47	—	—	—	—	—	—	—	—
	—	1,138	1,180	—	—	—	—	—	—	—	—
	—	39.13	56.53	—	—	—	—	—	—	—	—
	—	326.39	292.01	—	—	—	—	—	—	—	—
	—	2,725	2,432	—	—	—	—	—	—	—	—
	—	0.00	188.00	—	—	—	—	—	—	—	—
	—	2,725	2,244	—	—	—	—	—	—	—	—
	—	64.37	291.88	—	—	—	—	—	—	—	—
Cash flow
	—	182.06	-96.79	—	—	—	—	—	—	—	—
	—	-439.80	-161.70	—	—	—	—	—	—	—	—
	—	413.38	268.66	—	—	—	—	—	—	—	—
	—	0.00	44.23	—	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +346.95%
Sales CAGR 5Y: +113.91%
Sales CAGR 10Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): +4,092.35%
Profit YoY (TTM): -47.59%

Consolidated

Sales CAGR 3Y: +346.95%
Sales CAGR 5Y: +113.91%
Sales CAGR 10Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): +4,092.35%
Profit YoY (TTM): -47.71%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 89.90%

Holder	Type	Holding	Previous	Change
Hazel Infra Limited	Promoter	89.90%	—	—
QUANT MUTUAL FUND-QUANT ELSS TAX SAVER FUND	Public	1.25%	—	—
ZERODHA BROKING	Public	1.04%	—	—
VISTRA ITCL INDIA LIMITED	Public	1.00%	—	—
Swan Corp Limited (formerly known as Swan Energy Limited)	Promoter Group	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

Swan Defence and Heavy Industries Limited has informed the Exchange about the effective date of the Scheme of Amalgamation between Triumph Offshore Private Limited ("Transferor Company") ....17 Sep 2026 · Company Update / Scheme of Arrangement
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investors'' Meet.16 Sep 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investors Meet.12 Sep 2026 · Company Update / Analyst / Investor Meet
Gist of the Proceedings of the 29th AGM of the Company held today, i.e., 2nd September, 2026.2 Sep 2026 · AGM/EGM / AGM
The Voting Results along with the Consolidated Scrutinizers Report in respect of the 29th AGM held today, i.e., Wednesday, 2nd September, 2026.2 Sep 2026 · AGM/EGM / AGM
Outcome of the AGM held today, i.e., Wednesday, 2nd September, 2026.2 Sep 2026 · AGM/EGM / AGM
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 ....26 Aug 2026 · Company Update / Scheme of Arrangement
Swan Defence and Heavy Industries Limited has informed the Exchange about Copy of Newspaper Publication20 Aug 2026 · Company Update / Newspaper Publication
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.12 Aug 2026 · Company Update / Newspaper Publication
Swan Defence and Heavy Industries Limited has informed the Exchange about copy of Newspaper Publication.12 Aug 2026 · Company Update / Newspaper Publication
Swan Defence and Heavy Industries Limited has informed the Exchange about the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026.11 Aug 2026 · Result / Financial Results
Swan Defence and Heavy Industries Limited has submitted to the Exchange the Financial Results for the quarter ended June 30, 2026.11 Aug 2026 · Board Meeting / Outcome of Board Meeting
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.11 Aug 2026 · Company Update / Newspaper Publication
Swan Defence and Heavy Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 2, 2026.10 Aug 2026 · AGM/EGM / AGM
Annual Report for FY 2025-26.10 Aug 2026 · Others / Reg. 34 (1) Annual Report
Swan Defence and Heavy Industries Limited has informed the Exchange about Copy of Newspaper Publication regarding Notice of the 29th Annual General Meeting of the Company.7 Aug 2026 · Company Update / Newspaper Publication
Swan Defence and Heavy Industries Limited has informed the Exchange about intimation regarding sanction of the Scheme of Arrangement and Amalgamation between Triumph Offshore Private Limited ....6 Aug 2026 · Company Update / General
Swan Defence and Heavy Industries Limited has informed the Exchange about General Updates.6 Aug 2026 · Company Update / General
Swan Defence and Heavy Industries Limited has informed the Exchange regarding a Press Release dated August 6, 2026, titled "SDHI wins Order from Svitzer to build four TRAnsverse 3200 Tugs."6 Aug 2026 · Company Update / Press Release / Media Release
Swan Defence And Heavy Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/08/2026 ,inter alia, to consider and approve the Unaudited ....4 Aug 2026 · Board Meeting / Board Meeting
Swan Defence and Heavy Industries Limited has informed the Exchange about Credit Rating - New.22 Jul 2026 · Company Update / Credit Rating
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investor Meet.10 Jul 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investor Meet.10 Jul 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investor Meet.10 Jul 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018.10 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Swan Defence and Heavy Industries Limited has informed the Exchange about Intimation of Withdrawal of Credit Rating assigned to Bank Facilities of Reliance Naval and Engineering Limited ....8 Jul 2026 · Company Update / Credit Rating
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investor Meet.8 Jul 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investor Meet.6 Jul 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investor Meet.30 Jun 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015.25 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Swan Defence and Heavy Industries Limited has informed the Exchange about Copy of Newspaper Publication.22 Jun 2026 · Company Update / Newspaper Publication
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investor Meet.22 Jun 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange regarding Change in the Corporate Office of the Company.19 Jun 2026 · Company Update / Change in Corporate Office Address
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investor Meet.16 Jun 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange about Schedule of Investor Meet.5 Jun 2026 · Company Update / Analyst / Investor Meet
Please find enclosed a copy of the Annual Secretarial Compliance Report.4 Jun 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Intimation of Investor Meet.3 Jun 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the Exchange about copy of Newspaper Publication.28 May 2026 · Company Update / Newspaper Publication
Swan Defence and Heavy Industries Limited has informed the exchange about Schedule of Meet with Institutional Investor.28 May 2026 · Company Update / Analyst / Investor Meet
Swan Defence and Heavy Industries Limited has informed the exchange regarding the press release on the Standalone and Consolidated Financial Results for the quarter and year ended 31st March, 2026.27 May 2026 · Company Update / Press Release / Media Release

Board meetings

11 Aug 2026 Board Meeting - Financial Results