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Swan Defence and Heavy Industries
(SWANDEF)
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Rating:49Neutral
Price Target:
₹2,430.00
▲(246.33% Upside)
Action:Reiterated
Date:08/09/26
The score is primarily held back by weak financial performance—deep losses, highly leveraged balance sheet, and earnings volatility—partially offset by currently positive (but volatile) cash generation. Technicals are supportive due to a strong uptrend, but overbought indicators raise near-term pullback risk. Valuation remains unattractive on an earnings basis given the negative P/E.
Positive Factors
Revenue rebound
The FY2026 revenue step-up indicates materially improved business activity and creates a larger base for future operating leverage. Durability depends on converting this growth into margins, as gross, operating and net profit remain deeply negative.
Negative Factors
Extreme leverage
Very high leverage and limited equity materially reduce financial resilience. Debt obligations can constrain investment, increase refinancing dependence and amplify losses, while the thin capital cushion leaves less protection against operating setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound
The FY2026 revenue step-up indicates materially improved business activity and creates a larger base for future operating leverage. Durability depends on converting this growth into margins, as gross, operating and net profit remain deeply negative.
Read all positive factors
Swan Defence and Heavy Industries (SWANDEF) vs. iShares MSCI India ETF (INDA)
Market Cap
₹141.65B
Dividend YieldN/A
Average Volume (3M)1.44K
Price to Earnings (P/E)―
Beta (1Y)0.25
Revenue Growth4092.36%
EPS Growth-46.87%
CountryIN
Employees190
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)-8.84
Shares Outstanding52,682,150
10 Day Avg. Volume1,252
30 Day Avg. Volume1,437
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)119.90
Price to Sales (P/S)29.59
P/FCF Ratio80.06
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Swan Defence and Heavy Industries Business Overview & Revenue Model
Company Description
Swan Defence and Heavy Industries Limited operates in the fields of vessel construction, comprehensive ship and rig repair and refurbishment, and heavy engineering, catering to both domestic Indian and international clients. The company builds a d...
Swan Defence and Heavy Industries Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
14
Very Negative
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Dec 2023 | Sep 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 444.85M | 2.82B | 70.35M | 31.61M | 63.20M | 63.00M |
| Gross Profit | 134.42M | -1.94B | -91.68M | -10.84M | 52.20M | 83.50M |
| EBITDA | -70.16M | -1.50B | -996.96M | 194.70B | -138.80M | -13.21B |
| Net Income | -422.80M | -2.26B | -21.16M | 179.37B | -20.86B | -67.81B |
Balance Sheet | ||||||
| Total Assets | 29.11B | 31.67B | 338.07M | 27.85B | 37.41B | 38.07B |
| Cash, Cash Equivalents and Short-Term Investments | 323.20M | 2.89B | 291.80M | 80.96M | 278.20M | 167.83M |
| Total Debt | 26.15B | 27.88B | 25.05B | 21.48B | 29.61B | 29.78B |
| Total Liabilities | 26.66B | 30.98B | 25.96B | 22.38B | 211.33B | 191.11B |
| Stockholders Equity | 2.45B | 696.37M | 2.96B | 5.47B | -173.90B | -153.04B |
Cash Flow | ||||||
| Free Cash Flow | -2.60B | 1.04B | -2.60B | 14.28B | 20.07B | 7.10B |
| Operating Cash Flow | -896.78M | 1.82B | -967.98M | 14.28B | 20.07B | 7.10B |
| Investing Cash Flow | -1.89B | -4.40B | -1.62B | 116.80M | 23.50M | -13.30M |
| Financing Cash Flow | 2.69B | 4.13B | 2.69B | -14.60B | -19.99B | -7.07B |
Swan Defence and Heavy Industries Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹267.27B | 100.92 | ― | 0.21% | 33.81% | 24.90% | |
68 Neutral | ₹2.95T | 48.14 | ― | 0.62% | 19.83% | 11.75% | |
62 Neutral | ₹966.10B | 33.01 | ― | 0.89% | 13.87% | 31.72% | |
56 Neutral | ₹401.16B | 53.40 | ― | 0.71% | -1.36% | -19.12% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹279.16B | 34.73 | ― | 0.73% | 39.64% | 42.87% | |
49 Neutral | ₹141.65B | -60.70 | ― | ― | 4092.36% | -46.87% |
* General Sector Average
IN:SWANDEF
Swan Defence and Heavy Industries
2,732.95
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373.40%
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Swan Defence and Heavy Industries Corporate Events
Swan Defence Publishes Q1 FY27 Unaudited Results in Financial Express
Aug 12, 2026
Swan Defence and Heavy Industries Limited has notified the stock exchanges that it has published newspaper advertisements detailing its standalone and consolidated unaudited financial results for the quarter ended June 30, 2026. The disclosure, ma...
Swan Defence wins Svitzer order for four next-generation TRAnsverse 3200 tugs
Aug 6, 2026
Swan Defence and Heavy Industries has secured a contract from Denmark-based towage operator Svitzer to build four advanced TRAnsverse 3200 tugs, with deliveries starting in early 2028. The order follows a competitive global tender and will see SDH...
Swan Defence to Join PL Capital Defence Conference in Mumbai
Jun 22, 2026
Swan Defence and Heavy Industries has announced that its management will participate in the PL Capital Defence Conference in Mumbai on June 25, 2026, meeting with institutional investors in person. The company emphasized that the schedule may chan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.