- Total income
- ₹6,853 Cr
- Profit
- ₹755 Cr
About Swan Corp
Swan Corp is a publicly listed company based in Mumbai (India) founded in 1909. Gas regasification units are developed and operated by the company. It operates on a Professional Services and Reseller / Distribution model. The company has 418 employees. Swan Corp has completed 3 acquisitions, including Reliance Naval and Engineering, Veritas India and Veritas Technologies. Its chief executive, as recorded, is Nikhil Merchant. Its Indian entity Swan Corp Limited reported revenue of βΉ5,145 Cr. Swan Corp offers products and services including Shipbuilding & Heavy Fabrication, Energy (LNG Terminal), Textiles, and Real Estate. Its focus areas include Industrials, Engineering, Shipbuilding and Energy.
Company details
Swan Corp, a diversified Indian conglomerate, is involved in multiple sectors including shipbuilding and heavy fabrication, energy through LNG terminals, textiles with large-scale fabric processing, and real estate development for residential and commercial properties. Operations are spread across India with significant infrastructure like one of the largest dry docks and a high-capacity fabric processing unit. Services and solutions are provided to various industries, contributing to Indias self-reliance for over a century.
Swan Corp is ranked #357 on the Fortune India 500 (2025).
Recognitions & Rankings of Swan Corp
- Valuation
- ₹22,260 Cr
- Headquarters Mumbai, India
- Employees 418
- Stage Public
- SectorsEnergy & Utilities
- Emailβ’β’β’β’β’β’β’β’
- Phoneβ’β’β’β’ β’β’β’β’
- Website swan.co.in
- Social LinkedIn X Facebook Instagram
- Legal Name Swan Corp Limited
- Market Cap₹7,618 Cr
SWANCORP · NSE
- Share Price₹243.04
+0.37% today
- Revenue₹4,371 Cr
FY 2025-26 · -11.5% YoY
- EBITDA−₹204 Cr
Margin -4.7%
- Net Profit−₹334 Cr
FY 2025-26 · +79.9% YoY
- P/E (TTM)10.3x
P/B 1.0x
- ROE-4.5%
ROCE -0.7%
- Debt / Equity0.33
Interest cover -24.8x
- Latest Funding Round$400.3M (USD), Post-IPO
Feb 2024
- InvestorsSBI Life Insurance
& 10 more
- Employee Count418
- Investments & AcquisitionsReliance Naval and Engineering
& 2 more
Associated legal entities of Swan Corp
Swan Corp is associated with 6 registered companies on The Company Check; the primary company is Swan Corp Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Swan Corp Limited Listed CIN L17100MH1909PLC000294 | Active | 22 Feb 1909 | Mumbai, Maharashtra | ₹5,145 Cr | 196 | 12 | View details |
| Swan Engitech Works Private Limited CIN U28920MH1955PTC009526 | Active | 25 Apr 1955 | Mumbai, Maharashtra | ₹0.4 Cr | 2 | View details | |
| Swan International Private Limited CIN U51900MH1982PTC027871 | Active | 27 Jul 1982 | Mumbai, Maharashtra | ₹1.6 Cr | 3 | View details | |
| Swan Constructions Private Limited CIN U45309MH2017PTC302915 | Active | 15 Dec 2017 | Mumbai, Maharashtra | 2 | View details | ||
| Swan Mills Private Limited CIN U17120MH1979PTC021565 | Active | 17 Aug 1979 | Mumbai, Maharashtra | ₹0.0 Cr | 3 | View details | |
| Swan Lng Private Limited CIN U40108GJ2013PTC073539 | Active | 12 Feb 2013 | Ahmedabad, Gujarat | ₹2.9 Cr | 22 | 10 | View details |
Products & Services of Swan Corp
Swan Corp offers a comprehensive portfolio of products and services, including Shipbuilding & Heavy Fabrication, Energy (LNG Terminal), Textiles, and Real Estate.
Shipbuilding and fabrication services are provided for clients.
LNG terminal operations are managed in Jafrabad, Gujarat.
Fabric processing is conducted at high capacity daily.
Residential and commercial properties are developed in India.
Funding Insights of Swan Corp
- Total Rounds 2
- Last Round Post-IPO β $400.3M
- First Round $70M
(May 2017)
- Investors Count 11
All 2 funding rounds of Swan Corp with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2024 | $400.3M | Post-IPO | β | β | |
| May 2017 | $70M | Post-IPO | β | β |
11 investors in total: 11 institutional.
Investors in Swan Corp
Swan Corp has secured backing from 11 investors, including institutional and venture fund investors. Prominent investors backing the company include SBI Life Insurance, Goldman Sachs and Life Insurance Corporation of India.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investment banking services are delivered across multiple financial sectors. | 1869 | goldmansachs.com | New York, United States | |
Investment and intellectual capital network based in Mauritius. | 2000 | 2icapital.com | Ebene City, Mauritius | |
Life Insurance joint venture between SBI and BNP Paribas Cardiff | 2000 | sbilife.co.in | Mumbai, India | |
Mutual funds and investments are managed diversely by the firm. | 1989 | licmf.com | Mumbai, India | |
Equity, balanced, and debt funds are managed for investors. | tatamutualfund.com | Mumbai, India | ||
General insurance services are provided in multiple categories. | 2009 | sbigeneral.in | Mumbai, India | |
BNP Paribas Mutual Fund is a professional investment management firm specializing in mutual funds. | 2004 | bnpparibasmf.in | Mumbai, India | |
Diversified insurance firm | 2007 | futuregenerali.in | Mumbai, India | |
Multiple assets are traded via an online brokerage platform. | 1994 | anandrathi.com | Mumbai, India | |
Life insurance and micro insurance services are provided in India. | 1956 | licindia.in | Mumbai, India |
Investor details for Swan Corp
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Swan Corp Limited (Swan Corp)
Swan Corp Limited is the primary company behind Swan Corp. The boards of the 6 registered companies of Swan Corp currently have 19 directors; the longest-serving is Nikhil Vasantlal Merchant, appointed in 1992. 58 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Nikhil Vasantlal Merchant DIN 00614790 | Managing Director | 25 Mar 1992 | 34 yrs 7 mo | Swan Corp Limited, Swan Engitech Works Private Limited, Swan International Private Limited, Swan Constructions Private Limited |
| Dharmishta Kantilal Tanna DIN 02045912 | Director | 07 Aug 1992 | 34 yrs 3 mo | Swan Mills Private Limited, Swan International Private Limited |
| Navinbhai Chandulal Dave DIN 01787259 | Director | 16 Nov 1998 | 27 yrs 11 mo | Swan Corp Limited |
| Paresh Vasantlal Merchant DIN 00660027 | Whole-time director | 23 Nov 1998 | 27 yrs 11 mo | Swan Corp Limited, Swan Engitech Works Private Limited, Swan International Private Limited, Swan Constructions Private Limited |
| Sugavanam Padmanabhan DIN 03229120 | Director | 24 May 2013 | 13 yrs 5 mo | Swan Lng Private Limited, Swan Corp Limited |
| Vivek Paresh Merchant DIN 06389079 | Director | 10 Jul 2018 | 8 yrs 4 mo | Swan Lng Private Limited |
| Vinita Naman Patel DIN 06389083 | Director | 10 Jul 2018 | 8 yrs 4 mo | Swan Lng Private Limited |
| Bhavik Nikhil Merchant DIN 06389064 | Managing Director | 10 Jul 2018 | 8 yrs 4 mo | Swan Lng Private Limited |
| Kensuke Ito DIN 08210431 | Director | 19 Oct 2018 | 8 yrs | Swan Lng Private Limited |
| Pratap Singh Nagar DIN 00603057 | Director | 05 Mar 2020 | 6 yrs 8 mo | Swan Lng Private Limited |
| Prakash Dinkar Karnik DIN 09192224 | Nominee Director | 01 Apr 2023 | 3 yrs 7 mo | Swan Lng Private Limited |
| Rohinton Eruch Shroff DIN 00234712 | Director | 07 Aug 2023 | 3 yrs 3 mo | Swan Lng Private Limited, Swan Corp Limited |
| Parool Paresh Merchant DIN 01668134 | Director | 29 May 2024 | 2 yrs 5 mo | Swan Mills Private Limited |
| Panna Nikhil Merchant DIN 03153914 | Director | 29 May 2024 | 2 yrs 5 mo | Swan Mills Private Limited |
| Chetan Kanaiyalal Selarka DIN 03224037 | Whole-time director | 14 Aug 2024 | 2 yrs 2 mo | Swan Corp Limited |
| Prabhakar Reddy Patil DIN 00377406 | Director | 14 Aug 2024 | 2 yrs 2 mo | Swan Corp Limited |
| Jayaramakrishnan Kannan DIN 06551104 | Director | 19 Dec 2024 | 1 yr 10 mo | Swan Corp Limited |
| Bhagwati Sharma DIN 09632127 | Director | 23 Mar 2026 | 7 mo | Swan Corp Limited |
| Ashish Tulsidas Chhabria DIN 11564611 | Director | 25 Mar 2026 | 7 mo | Swan Corp Limited |
People of Swan Corp
1 people are tracked at Swan Corp (1 in leadership); the tracked headcount is 418.
| Name | Role | Group |
|---|---|---|
| CEO & MD | Leadership |
Complete people profiles for Swan Corp
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of Swan Corp
Swan Corp is a publicly listed company on the NSE with ticker symbol SWANCORP in India, operating in the Utilities sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date01 Jun 2012
- Listed onNSE: SWANENERGY
- Listed entitySwan Corp Limited
- Exchange sectorUtilities
- ISININE665A01038
- Share price₹270.50 (+1.69% on the day) · 2026-10-14
- Market capitalisation₹8,340 Cr
- Price to earnings37.9
- EPS (diluted, trailing year)₹7.13
- Dividend yield0.06%
- Volume (last session)628,276
Financials of Swan Corp
Exchange-reported figures of Swan Corp Limited, the listed company behind Swan Corp (NSE: SWANCORP).
Financial Highlights
FY 2025-26 Β· ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 4,371 | 4,938 | 5,017 | 1,438 | 487 | 320 | 341 |
| Revenue growth | -11.5% | -1.6% | +248.9% | +195.2% | +52.0% | -6.0% | - |
| EBITDA | (204) | (144) | 868 | 231 | 68.30 | 67.71 | 52.06 |
| EBITDA margin | -4.7% | -2.9% | +17.3% | +16.1% | +14.0% | +21.1% | +15.3% |
| Profit before tax | 365 | 1,470 | 609 | (62.23) | (184) | (78.05) | (4.25) |
| Net profit | (334) | (1,664) | 299 | (62.21) | (158) | (68.60) | (7.05) |
| Net profit margin | -7.7% | -33.7% | +6.0% | -4.3% | -32.4% | -21.4% | -2.1% |
| EPS (βΉ) | 8.75 | 24.10 | 9.61 | (2.31) | (5.98) | (2.81) | (0.20) |
| Balance sheet | |||||||
| Total assets | 11,640 | 12,068 | 11,780 | 9,021 | 5,840 | 4,506 | 2,704 |
| Net worth | 7,536 | 7,343 | 6,279 | 2,284 | 1,245 | 874 | 915 |
| Total debt | 2,130 | 2,823 | 3,449 | 4,985 | 4,117 | 3,077 | 1,206 |
| Cash & bank | 822 | 1,576 | 1,320 | 202 | 954 | 111 | 48.73 |
| Net working capital | 2,703 | 3,579 | 3,681 | 1,355 | 1,043 | 105 | (351) |
| Cash flow | |||||||
| Cash from operations | (14.49) | (529) | 25.87 | (491) | 28.76 | 302 | (95.12) |
| Cash from investing | 294 | 1,346 | (512) | (860) | (494) | (2,001) | (324) |
| Cash from financing | (1,034) | (560) | 1,604 | 598 | 1,309 | 1,760 | 427 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,046 | 1,014 | 870 | 1,150 | 1,138 | 1,213 | 856 | 1,908 |
| Revenue growth (YoY) | -8.1% | -16.4% | +1.6% | -39.7% | +10.3% | +6.3% | - | - |
| Other income | 76.23 | 33.97 | 639 | 27.76 | 47.47 | 59.28 | 26.41 | 1,869 |
| EBITDA | (5.16) | (3.89) | (261) | 25.27 | 5.04 | 26.74 | 11.68 | (656) |
| EBITDA margin | -0.5% | -0.4% | -30.0% | +2.2% | +0.4% | +2.2% | +1.4% | -34.4% |
| Depreciation | 32.22 | 30.57 | 32.38 | 30.99 | 30.42 | 30.10 | 30.84 | 60.57 |
| Interest | 31.33 | 34.46 | 19.57 | 17.93 | 21.47 | 22.29 | 22.64 | 44.73 |
| Profit before tax | 7.52 | (34.95) | 327 | 4.11 | 0.62 | 33.63 | (15.39) | 1,107 |
| Tax | (558) | 1.03 | 75.28 | 5.27 | 6.47 | 6.65 | 6.95 | 545 |
| Net profit | 566 | (35.98) | 251 | (1.16) | (5.85) | 26.98 | (22.34) | 562 |
| EPS (βΉ) | 18.04 | (1.15) | 8.02 | (0.04) | (0.19) | 0.84 | (0.75) | 18.72 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 216 | 135 | 386 | 547 | 409 | 253 | 307 |
| Revenue growth | +59.5% | -64.9% | -29.5% | +33.9% | +61.8% | -17.7% | - |
| EBITDA | (25.72) | (11.30) | 14.59 | 27.83 | 27.42 | 20.79 | 16.81 |
| EBITDA margin | -11.9% | -8.3% | +3.8% | +5.1% | +6.7% | +8.2% | +5.5% |
| Profit before tax | 34.91 | 12.23 | 2.89 | 4.79 | 4.81 | 2.39 | 3.86 |
| Net profit | 11.08 | (2.80) | 0.35 | 2.80 | 3.16 | 0.73 | 2.17 |
| Net profit margin | +5.1% | -2.1% | +0.1% | +0.5% | +0.8% | +0.3% | +0.7% |
| EPS (βΉ) | 0.88 | 0.29 | 0.07 | 0.14 | 0.12 | 0.03 | 0.17 |
| Balance sheet | |||||||
| Total assets | 4,968 | 4,945 | 4,953 | 1,563 | 1,390 | 1,276 | 1,263 |
| Net worth | 4,594 | 4,570 | 4,568 | 1,281 | 1,280 | 961 | 962 |
| Total debt | 372 | 374 | 383 | 280 | 109 | 314 | 299 |
| Cash & bank | 69.21 | 55.27 | 1,068 | 9.61 | 10.50 | 14.63 | 22.89 |
| Net working capital | 949 | 638 | 1,384 | 244 | 251 | 140 | 385 |
| Cash flow | |||||||
| Cash from operations | (2.20) | (17.43) | (11.60) | (5.69) | 10.41 | 26.30 | 52.50 |
| Cash from investing | 20.99 | (976) | (2,305) | (146) | (108) | (33.88) | (156) |
| Cash from financing | (4.85) | (19.02) | 3,375 | 151 | 93.00 | (0.68) | 114 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 51.05 | 53.05 | 53.15 | 60.17 | 54.70 | 48.00 | 42.32 | 28.14 |
| Revenue growth (YoY) | -6.7% | +10.5% | +25.6% | +113.8% | +114.1% | +21.6% | - | - |
| Other income | 12.71 | 3.95 | 31.40 | 7.48 | 14.50 | 15.08 | 9.76 | 4.00 |
| Total expenses | 57.68 | 55.14 | 64.35 | 63.56 | 61.62 | 52.20 | 47.17 | 27.12 |
| EBITDA | (6.63) | (2.09) | (11.20) | (3.39) | (6.92) | (4.20) | (4.85) | 1.02 |
| EBITDA margin | -13.0% | -3.9% | -21.1% | -5.6% | -12.7% | -8.8% | -11.5% | +3.6% |
| Depreciation | 1.35 | 1.30 | 1.31 | 1.99 | 2.13 | 2.10 | 2.04 | 2.08 |
| Interest | 0.07 | 0.04 | 0.10 | 0.06 | 0.07 | 0.06 | 0.05 | 0.05 |
| Profit before tax | 4.66 | 0.52 | 18.79 | 2.04 | 5.38 | 8.72 | 2.82 | 2.89 |
| Tax | 0.77 | (0.01) | 6.73 | (0.17) | (0.23) | 0.99 | (0.20) | 1.31 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,046 | 1,014 | 870 | 1,150 | 1,138 | 1,213 | 856 | 1,908 |
| Revenue growth (YoY) | -8.1% | -16.4% | +1.6% | -39.7% | +10.3% | +6.3% | - | - |
| Other income | 76.23 | 33.97 | 639 | 27.76 | 47.47 | 59.28 | 26.41 | 1,869 |
| EBITDA | (5.16) | (3.89) | (261) | 25.27 | 5.04 | 26.74 | 11.68 | (656) |
| EBITDA margin | -0.5% | -0.4% | -30.0% | +2.2% | +0.4% | +2.2% | +1.4% | -34.4% |
| Depreciation | 32.22 | 30.57 | 32.38 | 30.99 | 30.42 | 30.10 | 30.84 | 60.57 |
| Interest | 31.33 | 34.46 | 19.57 | 17.93 | 21.47 | 22.29 | 22.64 | 44.73 |
| Profit before tax | 7.52 | (34.95) | 327 | 4.11 | 0.62 | 33.63 | (15.39) | 1,107 |
| Tax | (558) | 1.03 | 75.28 | 5.27 | 6.47 | 6.65 | 6.95 | 545 |
| Net profit | 566 | (35.98) | 251 | (1.16) | (5.85) | 26.98 | (22.34) | 562 |
| EPS (βΉ) | 18.04 | (1.15) | 8.02 | (0.04) | (0.19) | 0.84 | (0.75) | 18.72 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 4,371 | 4,938 | 5,017 | 1,438 | 487 | 320 | 341 |
| Revenue growth | -11.5% | -1.6% | +248.9% | +195.2% | +52.0% | -6.0% | - |
| Other income | 774 | 1,946 | 82.92 | 10.77 | 6.89 | 3.94 | 8.54 |
| Total expenses | 4,575 | 5,081 | 4,149 | 1,207 | 419 | 253 | 289 |
| Employee cost | 114 | 74.64 | 37.65 | 31.62 | 25.15 | 18.09 | 12.22 |
| EBITDA | (204) | (144) | 868 | 231 | 68.30 | 67.71 | 52.06 |
| EBITDA margin | -4.7% | -2.9% | +17.3% | +16.1% | +14.0% | +21.1% | +15.3% |
| Depreciation | 124 | 147 | 115 | 81.35 | 70.27 | 41.66 | 14.52 |
| Interest | 81.25 | 186 | 226 | 223 | 189 | 108 | 50.33 |
| Profit before tax | 365 | 1,470 | 609 | (62.23) | (184) | (78.05) | (4.25) |
| Tax | 93.66 | 595 | 23.38 | (1.19) | (26.34) | (9.43) | 0.58 |
| Net profit | (334) | (1,664) | 299 | (62.21) | (158) | (68.60) | (7.05) |
| Net profit margin | -7.7% | -33.7% | +6.0% | -4.3% | -32.4% | -21.4% | -2.1% |
| EPS (βΉ) | 8.75 | 24.10 | 9.61 | (2.31) | (5.98) | (2.81) | (0.20) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 31.35 | 31.35 | 31.35 | 26.39 | 26.39 | 24.43 | 24.43 |
| Reserves & surplus | 7,161 | 6,771 | 5,707 | 2,115 | 1,077 | 850 | 890 |
| Shareholders' funds (net worth) | 7,536 | 7,343 | 6,279 | 2,284 | 1,245 | 874 | 915 |
| Minority interest | 1,658 | 1,578 | 1,745 | 1,451 | 453 | 523 | 554 |
| Secured loans | 1,291 | 1,834 | 1,485 | 3,731 | 3,522 | 2,079 | 264 |
| Unsecured loans | 839 | 990 | 1,965 | 1,254 | 595 | 998 | 943 |
| Total debt | 2,130 | 2,823 | 3,449 | 4,985 | 4,117 | 3,077 | 1,206 |
| Total liabilities | 11,640 | 12,068 | 11,780 | 9,021 | 5,840 | 4,506 | 2,704 |
| Assets | |||||||
| Gross block | 6,000 | 5,820 | 4,716 | 4,678 | 2,448 | 2,422 | 655 |
| Net block | 3,806 | 3,734 | 4,148 | 4,225 | 2,238 | 2,282 | 556 |
| Capital work in progress | 3,997 | 3,870 | 3,657 | 3,253 | 2,389 | 1,927 | 1,685 |
| Investments | 833 | 668 | 134 | 29.98 | 2.93 | 0.57 | 8.04 |
| Inventories | 1,213 | 1,674 | 228 | 261 | 171 | 145 | 126 |
| Sundry debtors | 2,246 | 1,352 | 1,915 | 1,786 | 214 | 28.67 | 54.13 |
| Cash & bank balances | 822 | 1,576 | 1,320 | 202 | 954 | 111 | 48.73 |
| Loans & advances | 633 | 509 | 606 | 311 | 261 | 251 | 201 |
| Total current assets | 4,915 | 5,112 | 4,069 | 2,559 | 1,600 | 535 | 430 |
| Total current liabilities | 2,212 | 1,533 | 388 | 1,204 | 557 | 431 | 781 |
| Net working capital | 2,703 | 3,579 | 3,681 | 1,355 | 1,043 | 105 | (351) |
| Total assets | 11,640 | 12,068 | 11,780 | 9,021 | 5,840 | 4,506 | 2,704 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1,576 | 1,320 | 202 | 954 | 111 | 48.73 | 40.29 |
| Net cash from operating activities | (14.49) | (529) | 25.87 | (491) | 28.76 | 302 | (95.12) |
| Net cash from investing activities | 294 | 1,346 | (512) | (860) | (494) | (2,001) | (324) |
| Net cash from financing activities | (1,034) | (560) | 1,604 | 598 | 1,309 | 1,760 | 427 |
| Net change in cash | (754) | 257 | 1,118 | (752) | 843 | 61.89 | 8.44 |
| Closing cash | 822 | 1,576 | 1,320 | 202 | 954 | 111 | 48.73 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -11.5% | -1.6% | +248.9% | +195.2% | +52.0% | -6.0% | - |
| EBITDA growth | -42.0% | -116.6% | +275.4% | +238.4% | +0.9% | +30.1% | - |
| PBT growth | -75.2% | +141.2% | +9998.0% | +66.2% | -136.0% | -1736.5% | - |
| Net income growth | +79.9% | -656.9% | +580.3% | +60.6% | -130.2% | -873.1% | - |
| Revenue CAGR (3Y) | +44.9% | +116.4% | +150.2% | +61.6% | -18.3% | -2.6% | -0.9% |
| EBITDA CAGR (3Y) | - | - | +134.0% | +64.4% | -4.3% | +41.6% | +15.8% |
| Profitability & leverage | |||||||
| Net income margin | +6.2% | +17.7% | +11.7% | -4.2% | -32.4% | -21.4% | -1.4% |
| Return on capital employed | -0.7% | -1.6% | +9.5% | 0.0% | +0.1% | +1.0% | +2.0% |
| Return on net worth | -4.5% | -22.7% | +13.7% | 0.0% | -14.9% | -7.7% | -0.8% |
| Debt / equity | 0.33 | 0.46 | 0.99 | 2.58 | 3.39 | 2.39 | 1.24 |
| Long-term debt / equity | 0.21 | 0.31 | 0.75 | 2.12 | 2.61 | 1.22 | 0.22 |
| Interest cover | -24.79 | -63.83 | 30.06 | 148.73 | -9,601.52 | 414.74 | 134.07 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.74 | 0.94 | 1.07 | 0.40 | 0.20 | 0.21 | 0.52 |
| Inventory turnover | 3.03 | 5.19 | 20.53 | 6.66 | 3.08 | 2.37 | 2.45 |
| Debtors turnover | 2.43 | 3.02 | 2.71 | 1.44 | 4.02 | 7.74 | 7.08 |
| EPS (βΉ) | 8.75 | 24.10 | 9.61 | (2.31) | (5.98) | (2.81) | (0.20) |
| Dividend per share (βΉ) | 0.15 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 |
| Book value per share (βΉ) | 229.45 | 217.00 | 183.06 | 81.14 | 41.79 | 35.79 | 37.45 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 51.05 | 53.05 | 53.15 | 60.17 | 54.70 | 48.00 | 42.32 | 28.14 |
| Revenue growth (YoY) | -6.7% | +10.5% | +25.6% | +113.8% | +114.1% | +21.6% | - | - |
| Other income | 12.71 | 3.95 | 31.40 | 7.48 | 14.50 | 15.08 | 9.76 | 4.00 |
| Total expenses | 57.68 | 55.14 | 64.35 | 63.56 | 61.62 | 52.20 | 47.17 | 27.12 |
| EBITDA | (6.63) | (2.09) | (11.20) | (3.39) | (6.92) | (4.20) | (4.85) | 1.02 |
| EBITDA margin | -13.0% | -3.9% | -21.1% | -5.6% | -12.7% | -8.8% | -11.5% | +3.6% |
| Depreciation | 1.35 | 1.30 | 1.31 | 1.99 | 2.13 | 2.10 | 2.04 | 2.08 |
| Interest | 0.07 | 0.04 | 0.10 | 0.06 | 0.07 | 0.06 | 0.05 | 0.05 |
| Profit before tax | 4.66 | 0.52 | 18.79 | 2.04 | 5.38 | 8.72 | 2.82 | 2.89 |
| Tax | 0.77 | (0.01) | 6.73 | (0.17) | (0.23) | 0.99 | (0.20) | 1.31 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 216 | 135 | 386 | 547 | 409 | 253 | 307 |
| Revenue growth | +59.5% | -64.9% | -29.5% | +33.9% | +61.8% | -17.7% | - |
| Other income | 68.46 | 34.47 | 8.69 | 2.50 | 1.03 | 0.90 | 3.75 |
| Total expenses | 242 | 147 | 371 | 519 | 381 | 232 | 290 |
| Employee cost | 34.45 | 24.79 | 19.21 | 15.49 | 10.91 | 9.95 | 11.56 |
| EBITDA | (25.72) | (11.30) | 14.59 | 27.83 | 27.42 | 20.79 | 16.81 |
| EBITDA margin | -11.9% | -8.3% | +3.8% | +5.1% | +6.7% | +8.2% | +5.5% |
| Depreciation | 7.54 | 8.25 | 7.99 | 7.99 | 6.00 | 5.53 | 5.37 |
| Interest | 0.29 | 2.69 | 12.40 | 17.55 | 17.64 | 13.77 | 11.33 |
| Profit before tax | 34.91 | 12.23 | 2.89 | 4.79 | 4.81 | 2.39 | 3.86 |
| Tax | 7.32 | 3.18 | 0.71 | 1.17 | 1.63 | 1.67 | (0.27) |
| Net profit | 11.08 | (2.80) | 0.35 | 2.80 | 3.16 | 0.73 | 2.17 |
| Net profit margin | +5.1% | -2.1% | +0.1% | +0.5% | +0.8% | +0.3% | +0.7% |
| EPS (βΉ) | 0.88 | 0.29 | 0.07 | 0.14 | 0.12 | 0.03 | 0.17 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 31.35 | 31.35 | 31.35 | 26.39 | 26.39 | 24.43 | 24.43 |
| Reserves & surplus | 4,563 | 4,538 | 4,537 | 1,255 | 1,254 | 936 | 938 |
| Shareholders' funds (net worth) | 4,594 | 4,570 | 4,568 | 1,281 | 1,280 | 961 | 962 |
| Secured loans | 1.53 | 2.96 | 49.35 | 125 | 93.09 | 52.87 | 0.45 |
| Unsecured loans | 371 | 371 | 333 | 155 | 15.74 | 261 | 298 |
| Total debt | 372 | 374 | 383 | 280 | 109 | 314 | 299 |
| Total liabilities | 4,968 | 4,945 | 4,953 | 1,563 | 1,390 | 1,276 | 1,263 |
| Assets | |||||||
| Gross block | 153 | 152 | 151 | 156 | 155 | 130 | 117 |
| Net block | 66.37 | 73.56 | 80.12 | 91.34 | 97.00 | 77.59 | 69.09 |
| Capital work in progress | 0.00 | 0.00 | 2.24 | 2.24 | 1.92 | 20.39 | 6.10 |
| Investments | 3,941 | 4,233 | 3,487 | 1,227 | 1,036 | 1,036 | 801 |
| Inventories | 131 | 122 | 117 | 105 | 86.65 | 78.77 | 70.76 |
| Sundry debtors | 69.67 | 84.74 | 90.51 | 204 | 208 | 24.57 | 54.13 |
| Cash & bank balances | 69.21 | 55.27 | 1,068 | 9.61 | 10.50 | 14.63 | 22.89 |
| Loans & advances | 731 | 424 | 165 | 114 | 158 | 62.74 | 299 |
| Total current assets | 1,001 | 686 | 1,441 | 432 | 463 | 181 | 447 |
| Total current liabilities | 51.77 | 47.58 | 57.56 | 188 | 211 | 40.56 | 62.17 |
| Net working capital | 949 | 638 | 1,384 | 244 | 251 | 140 | 385 |
| Total assets | 4,968 | 4,945 | 4,953 | 1,563 | 1,390 | 1,276 | 1,263 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 55.27 | 1,068 | 9.61 | 10.50 | 14.63 | 22.89 | 11.45 |
| Net cash from operating activities | (2.20) | (17.43) | (11.60) | (5.69) | 10.41 | 26.30 | 52.50 |
| Net cash from investing activities | 20.99 | (976) | (2,305) | (146) | (108) | (33.88) | (156) |
| Net cash from financing activities | (4.85) | (19.02) | 3,375 | 151 | 93.00 | (0.68) | 114 |
| Net change in cash | 13.94 | (1,013) | 1,058 | (0.89) | (4.13) | (8.26) | 11.43 |
| Closing cash | 69.21 | 55.27 | 1,068 | 9.61 | 10.50 | 14.63 | 22.89 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +59.5% | -64.9% | -29.5% | +33.9% | +61.8% | -17.7% | - |
| EBITDA growth | -127.6% | -177.5% | -47.6% | +1.5% | +31.9% | +23.7% | - |
| PBT growth | +185.5% | +323.2% | -39.7% | -0.4% | +101.3% | -38.1% | -89.1% |
| Net income growth | +495.7% | -900.0% | -87.5% | -11.4% | +332.9% | -66.4% | - |
| Revenue CAGR (3Y) | -26.6% | -30.8% | +15.2% | +21.3% | -22.0% | -7.2% | -2.5% |
| EBITDA CAGR (3Y) | - | - | -11.1% | +18.3% | -15.2% | +71.5% | -3.5% |
| Profitability & leverage | |||||||
| Net income margin | +12.8% | +6.7% | +0.6% | +0.7% | +0.8% | +0.3% | +1.4% |
| Return on capital employed | +0.4% | +0.1% | +0.4% | +1.4% | +1.7% | +1.3% | +1.0% |
| Return on net worth | +0.2% | -0.1% | +0.0% | +0.2% | +0.3% | +0.1% | +0.2% |
| Debt / equity | 0.08 | 0.08 | 0.11 | 0.15 | 0.19 | 0.32 | 0.24 |
| Long-term debt / equity | 0.00 | 0.00 | 0.02 | 0.04 | 0.01 | 0.00 | 0.00 |
| Interest cover | -0.87 | -13.76 | 187.88 | 88.46 | 82.35 | 90.24 | 99.04 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.42 | 0.89 | 2.52 | 3.53 | 2.88 | 2.05 | 2.66 |
| Inventory turnover | 1.71 | 1.13 | 3.47 | 5.71 | 4.94 | 3.38 | 3.44 |
| Debtors turnover | 2.80 | 1.55 | 2.62 | 2.66 | 3.52 | 6.42 | 6.37 |
| EPS (βΉ) | 0.88 | 0.29 | 0.07 | 0.14 | 0.12 | 0.03 | 0.17 |
| Dividend per share (βΉ) | 0.15 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 |
| Book value per share (βΉ) | 146.56 | 145.78 | 145.74 | 48.55 | 48.51 | 39.34 | 39.40 |
Investments & Acquisitions by Swan Corp
Swan Corp has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Reliance Naval and Engineering, Veritas India and Veritas Technologies.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Shipbuilding services for the defense industry are provided. | rnaval.co.in | Mumbai, India | 1997 | Oct 2023 | $27.69M | |
Cloud and AI-based data governance software is delivered for enterprises. | veritas.com | Santa Clara, United States | 1983 | Jun 2022 | $1.72B | |
International trader and distributor of chemicals, petrochemicals, polymers, and paper products | veritasindia.net | Mumbai, India | 1985 | May 2022 | $25.7M |
Complete acquisition details for Swan Corp
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Timeline of Swan Corp
7 dated milestones of Swan Corp across 115 years, from founding to its latest funding, stage changes and deals.
- Founded Swan Corp is founded.
- IPO Lists on the stock exchange (IPO).
- Funding First funding round of $70.0M.
- Acquisition Acquires Veritas India.
- Acquisition Acquires Veritas Technologies.
- Acquisition Acquires Reliance Naval and Engineering.
- Funding Latest funding round, Post-IPO, of $400.3M.
Web traffic of Swan Corp
The website of Swan Corp (swan.co.in) receives about 7.3K visits a month.
- Monthly visits7.3K
▼ 38.2% vs previous month
Websites whose visitors overlap most with Swan Corp. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| mazagondock.in | 100% | 80.6K | #311,913 | View details | |
offshore-energy.biz | offshore-energy.biz | 100% | #158,057 | β |
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Frequently Asked Questions about Swan Corp
Swan Corp was founded in 1909 and raised its 1st funding round 108 years after it was founded.
Swan Corp is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Nikhil Merchant is the CEO of Swan Corp, as recorded in our data.
Swan Corp has 418 employees.
The primary company behind Swan Corp, Swan Corp Limited, reported revenue of βΉ5,145 Cr for FY 2026, down 11% year on year.
Swan Corp, a diversified Indian conglomerate, is involved in multiple sectors including shipbuilding and heavy fabrication, energy through LNG terminals, textiles with large-scale fabric processing, and real estate development for residential and commercial properties. Operations are spread across India with significant infrastructure like one of the largest dry docks and a high-capacity fabric processing unit. Services and solutions are provided to various industries, contributing to Indias self-reliance for over a century.
Swan Corp offers Shipbuilding & Heavy Fabrication, Energy (LNG Terminal), Textiles, and Real Estate.
Yes, Swan Corp is publicly traded on NSE under the ticker symbol SWANCORP.
Swan Corp has made 3 acquisitions, including Reliance Naval and Engineering, Veritas India, and Veritas Technologies.
Swan Corp has 11 investors. Key investors include SBI Life Insurance, Goldman Sachs, Life Insurance Corporation of India, Future Generali, and Anand Rathi.
Swan Corp is associated with 6 legal entities: Swan Corp Limited, Swan Lng Private Limited, Swan Engitech Works Private Limited and others.
The legal entities of Swan Corp currently have 22 directors, including Rohinton Eruch Shroff, Sugavanam Padmanabhan, Prakash Dinkar Karnik and others.

