SWANCORP

SWAN CORP LIMITED

Diversified conglomerate with textiles, energy, construction and other businesses

Commodities›Chemicals›Chemicals & Petrochemicals›Petrochemicals

swan.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹265.35
Market cap
8,318 Cr
Stock P/E
37.2
P/B
1.10
Dividend yield
0.0%
ROE (FY26)
3.0%
ROCE (FY26)
3.9%
Operating margin (FY26)
-7.5%
Debt / equity (FY26)
0.28
OCF / EBITDA (3Y)
-99.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Swan Corp is a Mumbai-based diversified Indian group that earns most of its revenue from distribution and development, alongside textiles, construction, warehousing and a shipyard, with an LNG (liquefied natural gas) project at Jafrabad in the works.

Company snapshot

2ndBy market cap

Ranked among 10 companies in Petrochemicals.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 84.4% of revenue

SegmentRevenue shareRevenuePBTAssets
Construction / Others
2.4%
97 Cr32 Cr—
Distribution & Development
84.4%
3,444 Cr107 Cr—
Energy
9.3%
381 Cr1,601 Cr—
Manufacturing—0 Cr0 Cr—
Power Generation—0 Cr0 Cr—
Shipyard
0.1%
2 Cr-140 Cr—
Textiles
1.8%
74 Cr5 Cr—
Warehousing
2.0%
84 Cr42 Cr—

What we see

Positives
  • ✓Debt-to-equity of 0.28x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,223 Cr1,592 Cr1,398 Cr1,142 Cr1,032 Cr1,908 Cr856 Cr1,213 Cr1,138 Cr1,150 Cr870 Cr1,014 Cr
Operating expenses (approx.)966 Cr1,336 Cr1,280 Cr761 Cr912 Cr2,564 Cr842 Cr1,186 Cr1,133 Cr1,125 Cr1,131 Cr1,018 Cr
EBITDA257 Cr256 Cr118 Cr381 Cr120 Cr-656 Cr14 Cr27 Cr5 Cr25 Cr-261 Cr-4 Cr
OPM %21.0%16.1%8.4%33.4%11.6%-34.4%1.6%2.2%0.4%2.2%-30.0%-0.4%
Other income7 Cr63 Cr9 Cr20 Cr31 Cr1,868 Cr26 Cr59 Cr47 Cr27 Cr639 Cr34 Cr
Interest58 Cr58 Cr53 Cr53 Cr66 Cr45 Cr23 Cr22 Cr21 Cr18 Cr20 Cr34 Cr
Depreciation27 Cr27 Cr34 Cr28 Cr28 Cr61 Cr31 Cr30 Cr30 Cr31 Cr32 Cr31 Cr
Profit before tax178 Cr234 Cr40 Cr321 Cr57 Cr1,107 Cr-15 Cr34 Cr0.61 Cr4 Cr327 Cr-35 Cr
Tax %7.2%6.0%-39.9%16.5%-17.0%49.2%-45.1%19.7%1056.4%128.8%23.0%-3.0%
Net profit166 Cr220 Cr56 Cr268 Cr67 Cr562 Cr-22 Cr27 Cr-6 Cr-1 Cr251 Cr-36 Cr
EPS (₹)₹6.69₹8.38₹2.02₹8.57₹2.28₹18.72₹-0.75₹0.84₹-0.19₹-0.04₹8.02₹-1.15

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales351 Cr347 Cr892 Cr341 Cr320 Cr487 Cr1,438 Cr5,017 Cr4,938 Cr4,371 CrSign in free for the trailing twelve months
Operating expenses (approx.)317 Cr323 Cr814 Cr289 Cr253 Cr419 Cr1,207 Cr4,149 Cr5,079 Cr4,575 CrSign in free for the trailing twelve months
EBITDA33 Cr24 Cr78 Cr52 Cr68 Cr68 Cr231 Cr868 Cr-141 Cr-204 CrSign in free for the trailing twelve months
OPM %9.5%6.9%8.7%15.3%21.1%14.0%16.1%17.3%-2.9%-4.7%Sign in free for the trailing twelve months
Other income13 Cr121 Cr19 Cr9 Cr4 Cr7 Cr11 Cr83 Cr1,946 Cr772 CrSign in free for the trailing twelve months
Interest32 Cr58 Cr54 Cr50 Cr108 Cr189 Cr223 Cr226 Cr186 Cr81 CrSign in free for the trailing twelve months
Depreciation12 Cr14 Cr14 Cr15 Cr42 Cr70 Cr81 Cr115 Cr147 Cr124 CrSign in free for the trailing twelve months
Profit before tax3 Cr73 Cr29 Cr-4 Cr-78 Cr-184 Cr-62 Cr609 Cr1,470 Cr365 CrSign in free for the trailing twelve months
Tax %77.6%25.5%120.6%-13.7%12.1%14.3%1.9%3.8%40.5%25.7%Sign in free for the trailing twelve months
Net profit0.61 Cr55 Cr-6 Cr-5 Cr-69 Cr-158 Cr-61 Cr586 Cr874 Cr271 CrSign in free for the trailing twelve months
EPS (₹)₹0.03₹2.24₹-0.22₹-0.20₹-2.80₹-6.46₹-2.52₹20.57₹28.83₹8.65Sign in free for the trailing twelve months
Dividend payout %———————0.5%0.4%1.2%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital22 Cr24 Cr24 Cr24 Cr24 Cr26 Cr26 Cr31 Cr31 Cr31 Cr
Reserves409 Cr907 Cr899 Cr890 Cr850 Cr1,219 Cr2,257 Cr6,248 Cr7,311 Cr7,505 Cr
Borrowings810 Cr896 Cr959 Cr1,175 Cr3,046 Cr4,095 Cr4,765 Cr3,440 Cr2,802 Cr2,103 Cr
Other liabilities607 Cr808 Cr1,117 Cr845 Cr493 Cr604 Cr1,725 Cr704 Cr1,881 Cr2,555 Cr
Total liabilities1,848 Cr2,636 Cr3,201 Cr3,489 Cr4,936 Cr6,397 Cr10,225 Cr12,168 Cr13,603 Cr13,853 Cr
Fixed assets (net)189 Cr142 Cr135 Cr132 Cr1,867 Cr1,832 Cr3,826 Cr3,760 Cr3,228 Cr3,281 Cr
CWIP313 Cr617 Cr1,224 Cr1,685 Cr1,927 Cr2,389 Cr3,253 Cr3,657 Cr3,870 Cr3,997 Cr
Investments8 Cr324 Cr578 Cr430 Cr415 Cr408 Cr428 Cr521 Cr1,020 Cr1,220 Cr
Loans & advances——73 Cr78 Cr78 Cr86 Cr132 Cr419 Cr191 Cr153 Cr
Inventories592 Cr606 Cr152 Cr126 Cr145 Cr171 Cr261 Cr228 Cr1,674 Cr1,213 Cr
Trade receivables93 Cr57 Cr42 Cr54 Cr29 Cr214 Cr1,786 Cr1,915 Cr1,352 Cr2,246 Cr
Cash & bank4 Cr28 Cr20 Cr27 Cr73 Cr907 Cr145 Cr1,257 Cr137 Cr665 Cr
Other assets649 Cr863 Cr978 Cr955 Cr403 Cr391 Cr394 Cr409 Cr2,132 Cr1,079 Cr
Total assets1,848 Cr2,636 Cr3,201 Cr3,489 Cr4,936 Cr6,397 Cr10,225 Cr12,168 Cr13,603 Cr13,853 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity69 Cr67 Cr42 Cr75 Cr302 Cr29 Cr-491 Cr26 Cr-529 Cr-14 Cr
Cash from investing-29 Cr-538 Cr-763 Cr-324 Cr-2,001 Cr-494 Cr-860 Cr-512 Cr1,346 Cr294 Cr
Cash from financing-29 Cr481 Cr707 Cr257 Cr1,760 Cr1,309 Cr599 Cr1,604 Cr-560 Cr-1,034 Cr
Net cash flow12 Cr10 Cr-14 Cr8 Cr62 Cr843 Cr-752 Cr1,118 Cr257 Cr-754 Cr
Free cash flow (OCF − Capex)-40 Cr-269 Cr-566 Cr-393 Cr-1,468 Cr-0.77 Cr-2,561 Cr-18 Cr-1,001 Cr-224 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %2.8%7.2%4.0%1.7%0.7%0.1%1.9%7.3%14.1%3.9%
ROE %0.1%5.9%-0.5%-0.4%-2.7%-5.1%-1.6%3.8%8.5%3.0%
Debtor days9660175833160452139100187
Inventory days7667971832312501808621147116
Days payable106356642103572173171970119
Cash conversion cycle756501-442186226122221142176184
OCF / EBITDA %207.1%280.8%53.8%144.3%446.2%42.1%-212.4%3.0%——
OCF / EBITDA % (3 years)——131.9%119.7%212.1%215.9%-43.6%-37.4%-103.8%-99.0%
Debt / equity1.880.961.041.283.483.292.090.550.380.28
Current ratio0.821.020.750.240.351.411.143.132.141.91
Net debt / EBITDA24.07—12.0822.0543.9146.6819.992.52——