IPO Plus

₹2,785.6

▼ -38.98 -1.38%

As of 13 Nov 2026 · delayed

NSE Listed · Ship Building

Swan Defence and Heavy Industries Ltd. (SWANDEF)

Volume: 3,096Avg Vol 1W: 4,620Avg Vol 1M: 11,89552W Range:₹1,036.05₹3,020
NSE BSE www.rnaval.co.in AI Report
Key Ratios
Checked just now
Market Cap₹14,675 Cr
Current Price₹2,785.6
Previous Close₹2,824.58
High / Low (52w)₹3,020 / ₹1,036.05
Volume3,096
Avg Vol (1W)4,620
Avg Vol (1M)11,895
Stock P/E42
Book Value₹429.37
Dividend Yield0%
ROE15.45%
ROA8.97%
Revenue (TTM)—
Revenue Growth—
Profit Margin102.3%
Total Debt₹1,144 Cr
Shares Outstanding5 Cr
Face Value₹10
EPS (TTM)₹66.33
P/B6.49
Debt / Equity14.49
50 DMA₹2,730.03
200 DMA₹2,163.6
Day change-1.38%
Price Chart
₹2,785.6▲ 168.87% · 1Y
₹2968₹6791.7L
2025-11-17
2026-11-13

20-day avg volume: 11K shares

Pros
  • Healthy return on equity of 15.4%.
  • Company is almost debt-free.
  • Revenue grew 125% YoY.
Quarterly Results
MetricDec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Revenue₹1 Cr₹5 Cr₹0 Cr₹40 Cr₹6 Cr₹236 Cr₹31 Cr₹69 Cr
EBITDA₹-50 Cr₹-18 Cr₹-29 Cr₹8 Cr₹-30 Cr₹-138 Cr₹-25 Cr₹23 Cr
Net Profit₹-53 Cr₹-23 Cr₹-31 Cr₹-1 Cr₹-33 Cr₹-142 Cr₹-42 Cr₹566 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2025Jun 2025Sept 2025Dec 2025Mar 2026Mar 2026Jun 2026Sept 2026
Revenue₹5 Cr₹0 Cr₹40 Cr₹6 Cr₹236 Cr₹440 Cr₹31 Cr₹69 Cr
EBITDA₹-18 Cr₹-29 Cr₹8 Cr₹-30 Cr₹-138 Cr₹-215 Cr₹-25 Cr₹23 Cr
Net Profit₹-23 Cr₹-31 Cr₹-1 Cr₹-33 Cr₹-143 Cr₹-226 Cr₹-42 Cr₹567 Cr
EPS—————-42.88——
Balance Sheet
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹4,146 Cr₹4,747 Cr₹3,807 Cr₹3,743 Cr₹2,785 Cr₹2,743 Cr₹2,892 Cr₹3,167 Cr
Total Liabilities₹14,568 Cr₹16,925 Cr₹19,111 Cr₹21,133 Cr₹2,238 Cr₹2,267 Cr₹2,596 Cr₹3,098 Cr
Equity₹-10,421 Cr₹-12,178 Cr₹-15,304 Cr₹-17,390 Cr₹547 Cr₹477 Cr₹296 Cr₹70 Cr
Total Debt————————
Cash Flow
MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹-127 Cr₹-1,186 Cr₹709 Cr₹2,007 Cr₹1,425 Cr₹-70 Cr₹-96 Cr₹183 Cr
Investing₹-16 Cr₹49 Cr₹-1 Cr₹2 Cr₹12 Cr₹-11 Cr₹-162 Cr₹-440 Cr
Financing₹102 Cr₹1,099 Cr₹-707 Cr₹-1,999 Cr₹-1,460 Cr₹91 Cr₹268 Cr₹413 Cr
Free Cash Flow₹-127 Cr₹-1,186 Cr₹709 Cr₹2,007 Cr₹1,425 Cr₹-70 Cr₹-96 Cr₹183 Cr
Shareholding
Promoter 89.9% Institutions 2.44% Public 7.66%
Efficiency & Working Capital
ROCE-4.9%
Interest Coverage-17.5
Dividend Payout—
Debtor Days—
Inventory Days—
Payable Days—
Cash Conversion Cycle—
Working Capital Days—
Shareholding Details

As of 2026-09-30

Promoter89.9%
FII0.7%
DII1.7%
Institutions2.4%
Public7.7%
Promoter Pledge0%
No. of Shareholders81,042
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodAug 2024Sept 2024Nov 2024Nov 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Promoters94.9%94.9%94.9%94.9%94.9%94.9%94.9%94.9%94.9%89.9%89.9%89.9%
FIIs0%0%0%0%0%0%0%0%0%0.6%0.7%0.7%
DIIs0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%2.1%1.9%1.7%
Public4.7%4.7%4.7%4.7%4.7%4.7%4.7%4.7%4.7%7.4%7.5%7.7%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%0%0%
No. of Shareholders1,01,2371,01,2371,00,6621,00,6621,00,66299,42898,30296,58693,16687,73084,20481,042
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Hazel Infra LimitedShareholding of Promoter and Promoter Group89.9%4.74 Cr
Quant Mutual Fund-quant Elss Tax Saver FundPublic Shareholding1.3%6,57,922
Zerodha BrokingPublic Shareholding1%5,50,000
Vistra Itcl India LimitedPublic Shareholding1%5,27,654
Swan Corp Limited (formerly Known As Swan Energy Limited)Shareholding of Promoter and Promoter Group0%0
Board of Directors
NameDesignationYear
Nikhil MerchantChairman / Executive Director / Managing Director2026
Arvind MorbaleWhole-time Director2026
Paresh V MerchantNon-Exec & Non-Independent Dir2026
VIVEK PARESH MERCHANTNon-Exec & Non-Independent Dir2026
BHAVIK NIKHIL MERCHANTNon-Exec & Non-Independent Dir2026
ARUN SINHAIndependent Non Exe. Director2026
Kaiyoze B BillimoriaIndependent Non Exe. Director2026
Maya SinhaIndependent Non Exe. Director2026
Prabhakar R PatilIndependent Non Exe. Director2026
Jayaramakrishnan KannanIndependent Non Exe. Director2026
Priti P DaveCompany Sec. & Compli. Officer2026
Segments — Product
SegmentRevenueShare
Ship Building and Fabrication₹306 Cr100%
Segments — Geography
RegionRevenueShare
Within India₹75 Cr100%
Outside India₹0 Cr0%
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹1011,0005353
Corporate Actions
TypeDateValueRemark
forthcoming2026-08-11Board Meetings—
forthcoming—Book ClosureAGM
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
2026020402,329
2026020001,713
2026000303
Insider / Designated-Person Trades

1 recent disclosure(s)

Hazel Infra LimitedDisposal · 26,38,747
Substantial Acquisitions (SAST)

2 disclosure(s)

'Insolvency & Bankruptcy Code 2016 By Nclt'08/12/2023 · 5,00,00,000
—08/12/2023 · 5,00,00,000
Company Information
Incorporated1997
ChairmanNikhil Merchant
AuditorN N Jambusaria & Co
Investor Email[email protected]
🌐 www.rnaval.co.in ↗

📍 Pipavav Port, Post Ucchaiya Via-Rajula, Amreli, Gujarat, 365560

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