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Swan Defence and Heavy Industries Ltd.

Ship BuildingShip Building

www.sdhi.co.in BSE: 533107NSE: SWANDEF

₹2,700.00BSE2.90%

16 Sep, 4:01 PM

₹2,700.00

₹14.21K Cr

0.00

506.98

-124.58%

₹2,727.00

₹2,535.00

₹2,770.00

₹606.15

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Price Performance

Peer Comparison

Name
MAZDOCK MAZDOCK	2,226.55	31.43	89,814.57	0.81	550.46	21.74%	2,942.70	12.08%	36.51
COCHINSHIP COCHINSHIP	1,318.05	50.98	34,675.36	0.68	151.45	-19.37%	1,094.21	2.40%	17.60
Swan Defence and Heavy Industries Ltd. SWANDEF	2,700.00	0.00	14,214.70	0.00	-41.68	-35.39%	30.61	7,205.73%	-7.79
KMEW KMEW	2,740.00	52.96	6,949.82	0.00	62.75	466.05%	115.41	138.09%	24.88
GRSE GRSE	2,322.90

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Sep 2022	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	0.68	0.00	0.00	0.00	0.96	1.16	4.91	0.42	39.57	5.87	236.28	30.61
Expenses	8.92	5.17	11.78	28.27	35.04	37.33	14.35	32.04	47.26	25.92	486.68	51.55
	-8.24	-5.17	-11.78	-28.27	-34.08	-36.17	-9.43	-31.62	-7.69	-20.04	-250.40	-20.94
	-1,211.76%				-3,550.00%	-3,112.39%	-192.06%	-7,545.82%	-19.43%	-341.35%	-105.98%	-68.40%
	1.23	0.51	0.21	1.97	0.50	0.87	4.93	17.95	4.73	5.10	130.07	11.00
Interest	503.23	7.96	10.29	10.31	5.68	2.49	2.46	2.35	2.28	2.91	4.78	16.48
	17.18	17.21	16.99	14.84	15.04	15.08	15.92	15.15	15.08	15.53	17.51	15.18
	-527.42	-29.83	-38.85	-51.45	-53.39	-53.35	-22.75	-30.79	-19.86	-33.11	-142.15	-41.68
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-527.42	-29.83	-38.85	-51.45	-53.39	-53.35	-22.75	-30.79	-19.86	-33.11	-142.15	-41.68
	-7.15	-111.22	-144.85	-191.83	-10.13	-10.13	-4.32	-5.84	-3.77	-6.28	-26.98	-7.91

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
Operating Income	6.32	3.16		7.03	282.14
Operating Income (Net)	6.32	3.16		7.03	282.14
EXPENDITURE :
Increase/Decrease in Stock				2.40	449.69
Raw Material Consumed	1.10	0.26	0.27	0.69	20.56
Power & Fuel Cost	4.98	5.67	4.96	7.02	9.31
Employee Cost	4.80	3.26	4.72	21.89	36.07
Operating Expenses	9.58	8.65	8.46	16.59	41.25
General and Administration Expenses	11.52	18.04	10.41	63.54	29.63
Selling and Distribution Expenses	0.04			0.36	1.89
Miscellaneous Expenses	0.91	18.16	0.14	2.52	3.49
	32.92	54.04	28.97	114.99	591.90
Operating Profit (Excl OI)	-26.60	-50.88	-28.97	-107.96	-309.77
	11.07	4.60	2.46	10.50	157.84
	-15.53	-46.28	-26.51	-97.46	-151.92
Interest	1,998.57	1,469.73	26.39	20.94	12.32
PBDT	-2,014.10	-1,516.01	-52.90	-118.40	-164.24
	73.96	68.29	68.46	60.88	63.27
Profit Before Taxation & Exceptional Items	-2,088.06	-1,584.30	-121.36	-179.28	-227.51
Exceptional Income / Expenses	1.66	19,521.23		-2.23
	-2,086.40	17,936.93	-121.36	-181.50	-227.51
	-2,086.40	17,936.93	-121.36	-181.50	-227.51
Extra items				0.00	0.00
Share of Associate	0.45	0.21	0.77	0.46	1.60
Consolidated Net Profit	-2,085.96	17,937.14	-120.59	-181.04	-225.91
Profit Balance B/F	-17,833.81	-19,919.76	-1,982.62	-2,103.22	-2,284.26
Appropriations	-19,919.76	-1,982.62	-2,103.22	-2,284.26	-2,510.17
	-28.28	66,874.73	-449.61	-34.36	-42.88
Adjusted EPS	-28.28	66,874.73	-449.61	-34.36	-42.88

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	737.59	2.68	2.68	52.68	52.68
Share Warrants & Outstandings			50.00
Total Reserves	-18,127.49	544.56	423.97	242.93	16.96
Reserve excluding Revaluation Reserve	-18,127.49	544.56	423.97	242.93	16.96
Revaluation reserve	0.00
	-17,389.90	547.24	476.65	295.61	69.64
Secured Loans		1,840.00	1,332.00	1,144.00	1,014.41
Unsecured Loans	13.43	10.00	293.74	1,099.69	1,710.65
Other Long Term Liabilities	86.91	81.37	73.20	60.03	45.68
Long Term Provisions	0.31	0.43	0.43	0.43	0.43
Total Non-Current Liabilities	100.65	1,931.80	1,699.37	2,304.15	2,771.17
Trade Payables	340.23	78.27	36.81	56.53	39.13
Other Current Liabilities	17,709.06	28.11	22.59	47.04	287.26
Short Term Borrowings	2,872.84	200.00	508.00	188.00
Short Term Provisions	109.95			0.45
Total Current Liabilities	21,032.08	306.38	567.40	292.01	326.39
Total Liabilities	3,742.83	2,785.42	2,743.42	2,891.77	3,167.19
Gross Block	6,367.02	6,029.38	6,033.23	6,106.81	6,131.74
Less: Accumulated Depreciation	1,580.58	1,512.22	1,580.68	1,641.56	1,673.16
Less: Impairment of Assets	3,454.16	3,284.99	3,284.99	3,284.99	3,271.27
Net Block	1,332.28	1,232.18	1,167.56	1,180.27	1,187.31
Capital Work in Progress	36.69	36.69	43.07	155.23	165.93
Non Current Investments	3.84	4.05	4.81	5.26	258.21
Long Term Investment	3.84	4.05	4.81	5.26	258.21
Long Term Loans & Advances	76.31	93.43	94.11	76.33	82.96
Other Non Current Assets	0.00				8.81
Total Non-Current Assets	1,449.11	1,366.34	1,309.55	1,417.09	1,703.23
Inventories	2,086.32	1,405.15	1,405.40	1,401.11	952.08
Sundry Debtors	0.81			0.46	12.32
Cash and Bank	27.82	8.10	18.95	29.18	288.86
Other Current Assets	11.88	0.92	1.24	1.20	2.22
Short Term Loans and Advances	166.88	4.91	8.28	42.73	208.49
Total Current Assets	2,293.72	1,419.08	1,433.86	1,474.68	1,463.97
Net Current Assets (Including Current Investments)	-18,738.36	1,112.70	866.47	1,182.67	1,137.58
Total Assets	3,742.83	2,785.42	2,743.42	2,891.77	3,167.19
Contingent Liabilities	338.45	0.73	0.73	21.65	385.74
Total Debt	15,342.91	2,058.04	2,133.74	2,431.69	2,725.06
	-235.77	2,040.28	1,590.67	56.11	13.22
Adjusted Book Value	-235.77	2,040.28	1,590.67	56.11	13.22

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	-2,086.40	17,936.93	-121.36	-181.04	-225.91
Adjustment	2,072.31	1,558.15	94.77	55.41	-80.92
Changes In working Capital	2,021.23	-18,069.83	-43.74	29.63	489.49
Cash Flow after changes in Working Capital	2,007.13	1,425.25	-70.33	-96.01	182.66
Cash Flow from Operating Activities	2,007.27	1,428.33	-70.14	-96.21	182.06
Cash Flow from Investing Activities	2.35	11.68	-10.87	-161.69	-439.80
Cash Flow from Financing Activitie	-1,998.58	-1,459.73	91.12	268.07	413.38
Net Cash Inflow / Outflow	11.04	-19.72	10.11	10.17	155.64
Opening Cash & Cash Equivalents	16.78	27.82	8.10	18.21	28.38
Closing Cash & Cash Equivalent	27.82	8.10	18.21	28.38	184.02

Ratios

Valuation

506.98

-112.37

45.51

-44.95

5.32

Profitability

-124.58

-7.79

-7.51

-109.79

-80.64

Leverage & Liquidity

39.13

4.49

-17.47

Returns

0.00

0.09

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
	94.91	94.91	94.91	94.91	94.91	94.91	94.91	89.90	89.90
	0.42	0.42	0.42	0.42	0.42	0.42	0.39	2.67	2.61
	4.66	4.66	4.66	4.66	4.66	4.66	4.70	7.44	7.49
	5.09	5.09	5.09	5.09	5.09	5.09	5.09	10.10	10.10
No. of Shareholders	1,01,237	1,01,237	1,00,662	99,428	98,302	96,586	93,166	87,730	84,204

Corporate Actions

Showing: All

Date	Type	Details
2026-08-12	AGM
2026-08-04	Board Meeting	Quarterly Results
2026-05-19	Board Meeting	Audited Results

Insider Trading

Date	Person	Category	Transaction Type	Shares	Value (₹)

No insider trading data available.

Sector Overview

Ship BuildingShip Building

Swan Defence and Heavy Industries Ltd. operates in the Ship Building sector under the Ship Building industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

11 members across the board and senior leadership

Priti P Dave

Company Secretary & Compliance Officer

—

Nikhil Merchant

Chairman & Managing Director

—

Paresh Merchant

Non Independent & Non Executive Director

—

Bhavik Nikhil Merchant

Non Independent & Non Executive Director

—

Vivek Paresh Merchant

Non Independent & Non Executive Director

—

Arvind Morbale

Whole Time Director

₹84.57 L

Mar '26

Arun Sinha