Swan Defence And Heavy Industries Ltd

NSE: SWANDEF · Ship Building & Allied Services

52W Range₹577 ₹2,764

Snapshot

Unlock Swan Defence And Heavy Industries Ltd's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Swan Defence and Heavy Industries Limited specialises in the construction, repair, and refitting of commercial and defence vessels, including jack-up rigs and offshore structures. The company also provides heavy engineering, procurement, and construction services from its dedicated offshore yard.

Business Model

The company generates revenue through shipbuilding contracts, ship repair and maintenance services, and heavy engineering projects. It leverages its offshore yard infrastructure to provide comprehensive lifecycle solutions for maritime and industrial assets.

Growth Outlook

Growth is expected to be driven by the increasing demand for indigenous defence vessel manufacturing and the maintenance of offshore rigs. The company's ability to execute complex conversions and jumboizing projects remains a key operational focus.

Key Risks

  • Geopolitical and Defence Policy Risk. The company's revenue is highly dependent on government defence procurement budgets and shifting maritime security policies.
  • Operational and Execution Risk. Large-scale shipbuilding and heavy engineering projects are susceptible to cost overruns, technical delays, and supply chain disruptions.
  • Cyclical Industry Demand. The demand for commercial vessel construction and offshore rig maintenance is sensitive to global trade volumes and fluctuations in oil and gas prices.
  • Capital Intensity. The business requires significant capital expenditure to maintain shipyard facilities and advanced machinery, impacting cash flow stability.

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Key Metrics

REVENUE

₹312 Cr

TTM · consolidated

+4092.3%YoY

NET PROFIT

₹-237 Cr

TTM · consolidated

-47.7%YoY

EPS

₹-32.38

TTM · consolidated

-6.4%YoY

RETURN ON EQUITY

-129.7%

TTM · consolidated

-75.5 ppYoY

RETURN ON CAPITAL EMPLOYED

-7.8%

TTM · consolidated

-2.1 ppYoY

P/E

-77.8x

Q1 FY27 · consolidated

-77.8 vs -58.0x5Y avg

EV/EBITDA

-106.7x

Q1 FY27 · consolidated

-106.7 vs -366.0x5Y avg

DEBT TO EQUITY

39.1x

Q1 FY27 · consolidated

+29.62xYoY

Peers · Ship Building & Allied Services

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Swan Defence And Heavy Industries LtdSWANDEF
₹13,277 Cr-77.83-106.744092.3%-47.4%-129.7%-7.8%+430.7%
Mazagaon Dock Shipbuilders Ltd.MAZDOCK
₹99,837 Cr34.9326.3613.9%27.8%32.3%35.2%-7.7%
Cochin Shipyard Ltd.COCHINSHIP
₹39,438 Cr57.9734.10-1.4%23.5%11.9%16.7%-10.6%

As of Q1 FY27

Financials