Fortune India 500 2025 edition
Rank#357- Total income
- ₹6,853 Cr
- Profit
- ₹755 Cr
Last year #416
Swan Corp Limited - manufacturing in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Active Listed - NSE: SWANCORP · BSE: 503310 Public Limited Company manufacturing Fortune India 500 · #357 Nifty 500
Market Cap
₹7,518 Cr
SWANCORP · NSE
Share Price
₹235.70
-1.73% 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)
33.6x
P/B 1.1x
ROE
-4.5%
ROCE -0.7%
Debt / Equity
0.33
Interest cover -24.8x
About Swan Corp Limited
Data last updated:
Swan Corp Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the textile and fabric production segment of the manufacturing sector. It was incorporated on 22 February 1909 and has been in existence for over 117 years.
Swan Corp is ranked #357 on the Fortune India 500 (2025). It is part of the Nifty 500 and BSE 500 indices. Its director Nikhil V Merchant is #478 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L17100MH1909PLC000294. Its GSTIN is 27AABCS7890Q1ZE (Maharashtra). The company holds 3 GST registrations, of which 2 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 503310 and NSE: SWANCORP.
The company has an authorised share capital of ₹100.25 Cr and a paid-up capital of ₹31.35 Cr. It was formerly known as Swan Mills Limited. It is led by directors including Nikhil Vasantlal Merchant (Managing Director) and Chetan Kanaiyalal Selarka (Whole-Time Director).
Its last annual general meeting (AGM) was held on 29 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 6 Feltham House 2nd Floor 10 J. N. Heredia Marg Ballard Estate, Mumbai, Maharashtra, India – 400001.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹4,371.2 Cr, a decline of 11.5% compared to the previous year. For the same year it recorded a net loss of ₹334.48 Cr (net margin -7.7%) and EBITDA of -₹203.81 Cr (EBITDA margin -4.7%). The net worth stands at ₹7,536.4 Cr (up 2.6% YoY). Total assets are valued at ₹11,640 Cr (down 3.5% YoY).
The company has about 196 employees on its provident fund (EPFO) records. Its group structure includes 7 subsidiaries.
The company is associated with 1 brand: Swan Corp. As per MCA filings, the company has open charges of ₹151.23 Cr and satisfied charges of ₹6,745.72 Cr on record. Court records list 95 cases involving the company, including 46 filed by the company and 49 filed against it; 27 cases are pending. The company has 63 deals on record (56 market trades, 3 funding rounds, 3 secondary share transfers), with disclosed funding of ₹1,002.34 Cr; the latest was in December 2025. Its 4 peer companies in the Real Estate industry (Builders and Developers, Textiles), with the same principal business activity (textile, leather and other apparel products) are compared by revenue, 2 larger and 2 smaller; the largest is Arvind Limited with revenue of ₹8,394 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website swan.co.in.
Company details
CIN L17100MH1909PLC000294
Registration Number 000294
Incorporation Date 22 February 1909
ROC Mumbai
Listing Status Listed - Listed on NSE (SWANCORP); Listed on BSE (503310)
Company Status Active
Date of Last AGM 29 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
Name history
Swan Corp has undergone 2 name changes throughout its history. The company was previously known as Swan Mills Limited, and Swan Corp Limited. The current legal name is Swan Corp Limited.
| Company Name | Status |
|---|---|
| Swan Corp Limited | Current |
| Swan Mills Limited | Previous |
Key People
Nikhil Vasantlal Merchant Managing Director Chetan Kanaiyalal Selarka Whole-Time Director Paresh Vasantlal Merchant Whole-Time Director Recognitions & Rankings of Swan Corp
India's Most Valuable Companies 2024 edition · Source: Hurun India
Rank#256- Valuation
- ₹22,260 Cr
2023 #371 2022 #497
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #478 Nikhil V Merchant ₹7,300 Cr
Stock market indices
Nifty 500 BSE 500
Contact details
Swan Corp Limited's registered office is in Mumbai, Maharashtra. Its website is swan.co.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address6 Feltham House 2nd Floor 10 J. N. Heredia Marg Ballard Estate, Mumbai, Maharashtra, India – 400001
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Swan Corp Limited, buy the company report.
Comprehensive company report
Swan Corp Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Swan Corp operates one associated brand: Swan Corp. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Gas regasification units are developed and operated by the company. | swan.co.in |
Business activity
The main business activities of Swan Corp are manufacturing and real estate. In detail, this covers textile, leather and other apparel products and real estate activities with own or leased property. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C2 | Textile, leather and other apparel products | |
| L | Real Estate | L1 | Real estate activities with own or leased property |
To see the full business activity and turnover split of Swan Corp Limited, buy the company report.
Financials of Swan Corp Limited
FY 2025-26 filings availableSwan Corp Limited reported revenue of ₹4,371.2 Cr (down 11.5% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹4,371 Cr
-11.5% YoY
EBITDA
−₹204 Cr
-41.9% YoY
Profit After Tax
−₹334 Cr
+79.9% YoY
Net Worth
₹7,536 Cr
+2.6% YoY
Total Assets
₹11,640 Cr
-3.5% YoY
Total Debt
₹2,130 Cr
-24.6% YoY
Revenue 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 (₹) | 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 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,014 | 870 | 1,150 | 1,138 | 1,213 | 856 | 1,908 | 1,032 |
| Revenue growth (YoY) | -16.4% | +1.6% | -39.7% | +10.3% | +6.3% | - | - | - |
| Other income | 33.97 | 639 | 27.76 | 47.47 | 59.28 | 26.41 | 1,869 | 31.32 |
| EBITDA | (3.89) | (261) | 25.27 | 5.04 | 26.74 | 11.68 | (656) | 120 |
| EBITDA margin | -0.4% | -30.0% | +2.2% | +0.4% | +2.2% | +1.4% | -34.4% | +11.6% |
| Depreciation | 30.57 | 32.38 | 30.99 | 30.42 | 30.10 | 30.84 | 60.57 | 28.36 |
| Interest | 34.46 | 19.57 | 17.93 | 21.47 | 22.29 | 22.64 | 44.73 | 65.66 |
| Profit before tax | (34.95) | 327 | 4.11 | 0.62 | 33.63 | (15.39) | 1,107 | 57.41 |
| Tax | 1.03 | 75.28 | 5.27 | 6.47 | 6.65 | 6.95 | 545 | (9.73) |
| Net profit | (35.98) | 251 | (1.16) | (5.85) | 26.98 | (22.34) | 562 | 67.14 |
| EPS (₹) | (1.15) | 8.02 | (0.04) | (0.19) | 0.84 | (0.75) | 18.72 | 2.28 |
| 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 (₹) | 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 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 53.05 | 53.15 | 60.17 | 54.70 | 48.00 | 42.32 | 28.14 | 25.55 |
| Revenue growth (YoY) | +10.5% | +25.6% | +113.8% | +114.1% | +21.6% | - | - | - |
| Other income | 3.95 | 31.40 | 7.48 | 14.50 | 15.08 | 9.76 | 4.00 | 4.50 |
| Total expenses | 55.14 | 64.35 | 63.56 | 61.62 | 52.20 | 47.17 | 27.12 | 24.29 |
| EBITDA | (2.09) | (11.20) | (3.39) | (6.92) | (4.20) | (4.85) | 1.02 | 1.26 |
| EBITDA margin | -3.9% | -21.1% | -5.6% | -12.7% | -8.8% | -11.5% | +3.6% | +4.9% |
| Depreciation | 1.30 | 1.31 | 1.99 | 2.13 | 2.10 | 2.04 | 2.08 | 2.07 |
| Interest | 0.04 | 0.10 | 0.06 | 0.07 | 0.06 | 0.05 | 0.05 | 1.85 |
| Profit before tax | 0.52 | 18.79 | 2.04 | 5.38 | 8.72 | 2.82 | 2.89 | 1.84 |
| Tax | (0.01) | 6.73 | (0.17) | (0.23) | 0.99 | (0.20) | 1.31 | 0.62 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 26 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,014 | 870 | 1,150 | 1,138 | 1,213 | 856 | 1,908 | 1,032 |
| Revenue growth (YoY) | -16.4% | +1.6% | -39.7% | +10.3% | +6.3% | - | - | - |
| Other income | 33.97 | 639 | 27.76 | 47.47 | 59.28 | 26.41 | 1,869 | 31.32 |
| EBITDA | (3.89) | (261) | 25.27 | 5.04 | 26.74 | 11.68 | (656) | 120 |
| EBITDA margin | -0.4% | -30.0% | +2.2% | +0.4% | +2.2% | +1.4% | -34.4% | +11.6% |
| Depreciation | 30.57 | 32.38 | 30.99 | 30.42 | 30.10 | 30.84 | 60.57 | 28.36 |
| Interest | 34.46 | 19.57 | 17.93 | 21.47 | 22.29 | 22.64 | 44.73 | 65.66 |
| Profit before tax | (34.95) | 327 | 4.11 | 0.62 | 33.63 | (15.39) | 1,107 | 57.41 |
| Tax | 1.03 | 75.28 | 5.27 | 6.47 | 6.65 | 6.95 | 545 | (9.73) |
| Net profit | (35.98) | 251 | (1.16) | (5.85) | 26.98 | (22.34) | 562 | 67.14 |
| EPS (₹) | (1.15) | 8.02 | (0.04) | (0.19) | 0.84 | (0.75) | 18.72 | 2.28 |
| 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 (₹) | 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 (₹) | 8.75 | 24.10 | 9.61 | (2.31) | (5.98) | (2.81) | (0.20) |
| Dividend per share (₹) | 0.15 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 |
| Book value per share (₹) | 229.45 | 217.00 | 183.06 | 81.14 | 41.79 | 35.79 | 37.45 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 53.05 | 53.15 | 60.17 | 54.70 | 48.00 | 42.32 | 28.14 | 25.55 |
| Revenue growth (YoY) | +10.5% | +25.6% | +113.8% | +114.1% | +21.6% | - | - | - |
| Other income | 3.95 | 31.40 | 7.48 | 14.50 | 15.08 | 9.76 | 4.00 | 4.50 |
| Total expenses | 55.14 | 64.35 | 63.56 | 61.62 | 52.20 | 47.17 | 27.12 | 24.29 |
| EBITDA | (2.09) | (11.20) | (3.39) | (6.92) | (4.20) | (4.85) | 1.02 | 1.26 |
| EBITDA margin | -3.9% | -21.1% | -5.6% | -12.7% | -8.8% | -11.5% | +3.6% | +4.9% |
| Depreciation | 1.30 | 1.31 | 1.99 | 2.13 | 2.10 | 2.04 | 2.08 | 2.07 |
| Interest | 0.04 | 0.10 | 0.06 | 0.07 | 0.06 | 0.05 | 0.05 | 1.85 |
| Profit before tax | 0.52 | 18.79 | 2.04 | 5.38 | 8.72 | 2.82 | 2.89 | 1.84 |
| Tax | (0.01) | 6.73 | (0.17) | (0.23) | 0.99 | (0.20) | 1.31 | 0.62 |
| 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 (₹) | 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 (₹) | 0.88 | 0.29 | 0.07 | 0.14 | 0.12 | 0.03 | 0.17 |
| Dividend per share (₹) | 0.15 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 |
| Book value per share (₹) | 146.56 | 145.78 | 145.74 | 48.55 | 48.51 | 39.34 | 39.40 |
To see the full year-wise statements and ratios of Swan Corp Limited, buy the company report.
Board of directors of Swan Corp Limited
Swan Corp has 10 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rohinton Eruch Shroff Also directs: Veritas (India) Limited, Cardinal Energy and Infrastructure Private Limited, Swan LNG Private Limited and 3 more | Director | 23 Aug 2022 | 4 Years 2 Months | Current |
| Chetan Kanaiyalal Selarka | Whole-Time Director | 14 Aug 2024 | 2 Years 2 Months | Current |
| Paresh Vasantlal Merchant Also directs: Veritas (India) Limited, Cardinal Energy and Infrastructure Private Limited, Swan Defence and Heavy Industries Limited and 5 more | Whole-Time Director | 23 Nov 1998 | 27 Years 11 Months | Current |
| Nikhil Vasantlal Merchant | Managing Director | 25 Mar 1992 | 34 Years 7 Months | Current |
| Navinbhai Chandulal Dave Also directs: Image Publications Private Limited, Sunflower Overseas Private Limited, Sunflower Financial Services Private Limited and 1 more | Director | 16 Nov 1998 | 27 Years 11 Months | Current |
| Sugavanam Padmanabhan | Whole-Time Director | 24 Sep 2010 | 16 Years 1 Months | Current |
Showing 6 of 10 current directors. View all directors
Peer comparison
Swan Corp Limited is compared with the 4 companies closest to it by revenue in the Real Estate industry (Builders and Developers, Textiles), with the same principal business activity (textile, leather and other apparel products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Arvind Limited | ₹8,394 Cr (FY 2025) | 8.0% | Ahmedabad, Gujarat, India | |||
| Trident Limited | ₹7,047.23 Cr (FY 2025) | 3.0% | Barnala, Punjab, India | |||
| K.P.R. Mill Limited | ₹6,462.26 Cr (FY 2025) | 5.0% | Coimbatore, Tamil Nadu, India | |||
| Wellknown Polyesters Limited | ₹6,403.95 Cr (FY 2025) | 16.0% | Nani Daman, Daman and Diu, India | |||
| Swan Corp Limitedthis company | ₹4,371.2 Cr (FY 2026) | -₹334.48 Cr | -7.7% | -11.5% | 196 | Mumbai, Maharashtra, India |
To see the full peer comparison of Swan Corp Limited, buy the company report.
Auditor
Swan Corp Limited is audited by N.N. Jambusaria & Co. for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| N.N. Jambusaria & Co. | FY 2024 | 104030W |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 54.00%, foreign institutional investors hold 10.40%, domestic institutional investors hold 12.80% and retail and other public shareholders hold 22.80%.
Sep 2026
QUARTER
54.00% Promoters
12.80% DII (Domestic Institutional)
10.40% FII (Foreign Institutional)
22.80% Retail & Others
Promoter holding - history
Now 54.00% · Sep 2026High 54.00% · Dec 2025Low 54.00% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 54.00% | 54.00% | 54.00% | 54.00% |
| Public | 46.00% | 46.00% | 46.00% | 46.00% |
Charges & borrowings
Open charges
₹151.23 Cr
Satisfied charges
₹6,745.72 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Mar 2025 | 101090605 | Others | ₹57 Lakh | Open | |
| 12 Dec 2023 | 100867458 | Hdfc Bank Limited | ₹30 Lakh | Open | |
| 26 Oct 2023 | 100817727 | Hdfc Bank Limited | ₹30 Lakh | Open | |
| 27 Feb 2023 | 100756827 | Hdfc Bank Limited | ₹26.89 Lakh | Open | |
| 03 Jan 2023 | 100669129 | Hdfc Bank Limited | ₹26.49 Lakh | Open |
To see the full charge records of Swan Corp Limited, buy the company report.
Total charge records: 37 View all charges
Deals & funding
Swan Corp Limited has 63 deals on record (56 market trades, 3 funding rounds, 3 secondary share transfers), with disclosed funding of ₹1,002.34 Cr; the latest was in December 2025.
Total deals
63
Market trades
56
Funding rounds
3
Secondary share transfers
3
QIP
1
Disclosed funding
₹1,002.34 Cr
Deals on record (5 of 63)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2025 | Market trade | ₹70.2 Cr | Buyer: Jupiter India Fund, The Jupiter Global Fund-Jupiter India Select Seller: Jainam Broking Limited |
| Nov 2025 | Market trade | ₹91.82 Cr | Seller: Jainam Broking Limited |
| Jul 2025 | Market trade | ₹100.53 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Dec 2024 | Market trade | ₹326.71 Cr | Buyer: Graviton Research Capital LLP , Aakraya Research LLP Seller: Graviton Research Capital LLP , Aakraya Research LLP |
| Dec 2024 | Market trade | ₹176.24 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
To see the full deal history of Swan Corp Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Swan Corp Limited has 95 court cases on record: 46 filed by Swan Corp, 49 filed against it. 27 cases are pending and 68 are disposed.
Total cases
95
Filed by the company
46
Filed against the company
49
Pending
27
Disposed
68
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 40 | 25 | 6 |
| High courts | 27 | 17 | 12 |
| NCLAT | 20 | 3 | 7 |
| Supreme Court | 4 | 2 | 2 |
| NCLT | 4 | 2 | 0 |
Cases on record (5 of 95)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Appeal | Filed against the company by West End Investment and Finance Consultancy Private Limited | Pending |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed by the company against Jindal Steel and Power Limited and 1 other | Pending |
| Bombay High Court | Court case (CARBP) | Filed against the company by Subramanya Construction Development Company Limited | Disposed |
| High Court, MAHARASHTRA | Court case (CARBP) | Filed against the company by Cardinal Energy and Infrastructure Private Limited and 1 other | Disposed |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by Reliance Infrastructure Limited | Disposed |
To see the full case history of Swan Corp Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Swan Corp Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Swan Corp has 7 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
7
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Veritas (India) Limited | L23209MH1985PLC035702 | |
| Swan Mills Private Limited | U17120MH1979PTC021565 | |
| Cardinal Energy and Infrastructure Private Limited | U40102MH2008PTC184568 | |
| Swan LNG Private Limited | U40108GJ2013PTC073539 | |
| Hazel Infra Limited | U45202MH2008PLC182355 | |
| Pegasus Ventures Private Limited | U70102MH2012PTC229686 |
To see the full group structure of Swan Corp Limited, buy the company report.
Employees & EPFO
Swan Corp Limited has a workforce of 196 employees on its EPFO records as of Apr 05, 2024, across 2 active EPFO establishments.
Employee count
196
Active EPFO establishments
2
Employee growth
30.67%
GST
Swan Corp has 3 GST registrations: 2 active and 1 cancelled or inactive.
Total GSTINs
3
Active
2
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCS7890Q1ZE | Maharashtra | Active | 01 Jul 2017 |
| 24AABCS7890Q1ZK | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Swan Corp Limited, buy the company report.
Recent activity
Swan Corp Limited has 38 board changes on record since 1990: 25 appointments and 13 cessations. The latest: Ashish Tulsidas Chhabria was appointed as Director on 25 Mar 2026.
Filing
Swan Corp Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Appointed
Ashish Tulsidas Chhabria was appointed as Director.
Appointed
Bhagwati Sharma was appointed as Director.
AGM
Swan Corp Limited last Annual general meeting of members was held on 29 Sep 2025 as per latest MCA records.
Appointed
Shanaya Manish Munot was appointed as Additional Director.
Charges
A charge with Others amounted to Rs. 0.57 Cr with Charge ID 101090605 was registered on 25 Mar 2025.
Ceased
Surekha Nagesh Oak ceased to be Director.
Appointed
Jayaramakrishnan Kannan was appointed as Director.
Charges
A charge registered on 09 Sep 2009 via Charge ID 10179775 with Pnb Investment Services Limited was fully satisfied on 16 Dec 2024.
Charges
A charge registered on 18 Aug 2022 via Charge ID 100607395 with Others was fully satisfied on 25 Nov 2024.
Ceased
Pitamber Siroomal Teckchandani ceased to be Director.
Ceased
Rajat Kumar Dasgupta ceased to be Director.
98 earlier events are in the company report.
News
Swan: Swan Realty Starts Premium ‘Bodhi’ Housing Project In Jayanagar, Bengaluru Set To Finish By March 2028
Frequently asked questions
Swan Corp is an active public limited company based in Mumbai, Maharashtra, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 22 February 1909 (117+ years old) and is registered under CIN L17100MH1909PLC000294. Listed on BSE: 503310 and NSE: SWANCORP.
Swan Corp reported revenue of ₹4,371.2 Cr for FY 2025-26 (down 11.5% YoY) based on consolidated financials.
Swan Corp has 10 current directors:
- Nikhil Vasantlal Merchant - Managing Director
- Chetan Kanaiyalal Selarka - Whole-Time Director
- Paresh Vasantlal Merchant - Whole-Time Director
- Sugavanam Padmanabhan - Whole-Time Director
- Rohinton Eruch Shroff - Director
- Navinbhai Chandulal Dave - Director
- Jayaramakrishnan Kannan - Director
- Prabhakar Reddy Patil - Director
- Bhagwati Sharma - Director
- Ashish Tulsidas Chhabria - Director
The latest financial statements of Swan Corp on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 29 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Swan Corp is 27AABCS7890Q1ZE, registered in Maharashtra. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 24AABCS7890Q1ZK (Gujarat).
The CIN (Corporate Identification Number) of Swan Corp is L17100MH1909PLC000294. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Swan Corp is a listed company as per MCA records. Its shares are listed on both BSE (code: 503310) and NSE (symbol: SWANCORP).
Swan Corp has 95 court cases on record: 46 filed by the company and 49 filed against it. 27 are pending. Most are in the district courts.
Swan Corp was incorporated on 22 February 1909, making it 117+ years old. It is registered with the Registrar of Companies, Mumbai.
Swan Corp has 63 deals on record (56 market trades, 3 funding rounds, 3 secondary share transfers), with disclosed funding of ₹1,002.34 Cr; the latest was in December 2025.
The peers of Swan Corp by revenue are Arvind Limited, Trident Limited, K.P.R. Mill Limited, Wellknown Polyesters Limited, all in the Real Estate industry (Builders and Developers, Textiles), with the same principal business activity (textile, leather and other apparel products).