Swan Defence and Heavy Industries (SWANDEF) AI Stock Analysis

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Swan Defence and Heavy Industries

(NSE:SWANDEF)

Select Model

Rating:50Neutral

Price Target:INR 2,765.00▼(-1.16% Downside)

Action:reiterated

Date:11/10/26

The score is constrained primarily by severe profitability weakness and an extremely leveraged balance sheet. Positive cash flow, strong revenue growth, and a generally constructive longer-term technical trend provide partial support, but the high P/E ratio and lack of consistent earnings reduce the overall rating.

Positive Factors

Revenue reboundThe sharp FY2026 revenue rebound indicates materially stronger business activity and customer demand than in the prior period. If this higher revenue base can be sustained, it could improve operating leverage, support scale in defence and heavy-industrial activities, and create a foundation for future profitability.

Negative Factors

Deep and volatile lossesDeep losses across gross, operating, and net income show that the recent revenue rebound has not yet translated into an economically sustainable business model. Extreme historical margin volatility further reduces confidence in earnings quality and makes future profit conversion difficult to forecast.

Swan Defence and Heavy Industries (SWANDEF) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 149.30B
Dividend Yield: ―
Average Volume (3M): 1,178
Price to Earnings (P/E): 42.6
Beta (1Y): 0.33
Revenue Growth: 641.66%
EPS Growth: ―
Country: India
Employees: 190
Sector: General
Sector Strength: 55
Industry: Aerospace & Defense

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 dive...

Swan Defence and Heavy Industries Financial Statement Overview

Summary

Rapid revenue growth and positive latest-year operating and free cash flow are offset by severe losses, negative gross profit, extreme debt-to-equity leverage, unstable equity, and volatile cash flows.

Income Statement

18Very Negative

Balance Sheet

22Negative

Cash Flow

40Negative

Financial statement breakdown
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 Technical Analysis

Technical Analysis SentimentPositive

Last Price2797.45

Price Trends

50DMA2700.09Positive

100DMA2520.86Positive

200DMA2205.44Positive

Market Momentum

MACD21.91Negative

RSI57.96Neutral

STOCH86.04Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SWANDEF, the sentiment is Positive. The current price of 2797.45 is above the 20-day moving average (MA) of 2788.66, above the 50-day MA of 2700.09, and above the 200-day MA of 2205.44, indicating a bullish trend. The MACD of 21.91 indicates Negative momentum. The RSI at 57.96 is Neutral, neither overbought nor oversold. The STOCH value of 86.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SWANDEF.

Swan Defence and Heavy Industries Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SWANDEF against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:BEL	69Neutral	INR 2.91T	46.26	―	0.62%	20.28%	12.34%
IN:DATAPATTNS	65Neutral	INR 226.90B	98.58	―	0.24%	-16.61%	3.05%
IN:MAZDOCK	63Neutral	INR 761.62B	31.36	―	0.90%	8.15%	5.08%
IN:COCHINSHIP	56Neutral	INR 315.70B	50.23	―	0.73%	1.68%	-17.53%
IN:GRSE	56Neutral	INR 255.08B	31.64	―	0.89%	29.76%	32.83%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:SWANDEF	50Neutral	INR 150.06B	42.57	―	―	641.66%	―

* General Sector Average

Performance Comparison

IN:SWANDEF and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SWANDEF	Swan Defence and Heavy Industries Ltd	2797.45	1761.00	169.91%
IN:BEL	Bharat Electronics Limited	407.50	-17.06	-4.02%
IN:COCHINSHIP	Cochin Shipyard Limited	1196.00	-519.77	-30.29%
IN:DATAPATTNS	Data Patterns (India) Limited	4221.00	1125.95	36.38%
IN:GRSE	Garden Reach Shipbuilders & Engineers Ltd.	2209.55	-671.01	-23.29%
IN:MAZDOCK	Mazagon Dock Shipbuilders Ltd.	1909.00	-850.54	-30.82%

Swan Defence and Heavy Industries Corporate Events

Swan Defence Posts Revenue Surge as Order Book and Shipyard Expansion Strengthen Growth Outlook

Oct 12, 2026

Swan Defence and Heavy Industries reported a 2.5-fold increase in operating revenue to ₹99.46 crore in the first half of FY27, with total income rising to ₹167.87 crore and a firm order book of about ₹6,500 crore providing revenue visibility through...

Swan Defence Publishes Unaudited H1 FY27 Results Presentation

Oct 12, 2026

Swan Defence and Heavy Industries Limited has released a corporate presentation detailing its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The disclosure, made to both the BSE and NSE...

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, made...

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.

Date of analysis: Nov 10, 2026

Swan Defence and Heavy Industries AI Stock Analysis