Swan Corp Limited (SWANCORP)

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Swan Corp Limited (SWANCORP) · mywealthgrid

About

Swan Corp Limited operates in petrochemicals within the Materials sector, with a ₹9,549 Cr market cap. Dual reporting—standalone ₹48–60 Cr and consolidated ₹1,138–₹1,213 Cr quarterly revenue—indicates a group structure with multiple operating entities.

Face value: ₹1

Market cap

₹8,552 Cr

P/E

38.3×

P/B

1.1×

Dividend yield

0.1%

ROE

3.7%

ROCE

4.1%

Debt / equity

0.28

OPM

-4.7%

EPS (TTM)

₹7.1

Book value

₹240.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin deeply negative (-4.66% consolidated OPM) with operating losses evident in multiple quarters; verify sustainability of positive net profit given apparent dependence on non-operating income
Return on equity critically low (3.68%); verify whether this reflects cyclical weakness or structural capital inefficiency
Earnings highly volatile (EPS ranging -0.19 to +8.02 across recent quarters); verify drivers of volatility and forward predictability
Petrochemicals sector faces commodity-price cycles and competitive intensity; verify company's hedging practices and pricing power

Generated analysis · source review pending

Growth drivers

Consolidated revenue scale of ₹1,138–₹1,213 Cr quarterly means margin recovery from current -4.66% OPM would significantly lift profits; verify drivers of operating losses
Moderate leverage (D/E 0.28) and dividend payment history through 2025 suggest available balance-sheet capacity for reinvestment or corporate actions
Consolidated segment (₹1,138–₹1,213 Cr quarterly, 20x standalone size) is loss-making; verify whether losses concentrate in specific units that could be restructured or divested

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹272.8-4%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 68.6% over the last 5 years

Cons

−Low return on equity of 7.3% (3-yr avg)
−Low dividend payout of 3.5% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

41/100

Business quality: 24
Growth: 33
Valuation: 65

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	332	351	347	341	320	487	1,438	5,017	4,938	4,371
COGS	285	281	288	224	181	325	1,068	3,969	4,187	4,287
Gross profit	47	69	59	117	140	162	371	1,048	751	85
	19	36	35	65	72	94	139	180	892	287
	28	33	24	52	68	68	231	868	-141	-202
OPM %	8.4%	9.6%	6.9%	15.3%	21.1%	14%	16.1%	17.3%	-2.9%	-4.6%
Depreciation	11	12	14	15	42	70	81	115	147	124
Interest	24	32	58	50	108	189	223	226	186	81
	7	13	121	9	4	7	11	83	1,944	772
Profit before tax	0	3	73	-4	-78	-184	-62	609	1,470	365
Tax	0	2	19	1	-9	-26	-1	23	595	94
Tax %	228.6%	77.6%	25.5%	13.7%	-12.1%	-14.3%	-1.9%	3.8%	40.5%	25.7%
	-0	1	55	-5	-69	-158	-61	586	874	271
PAT margin %	-0.1%	0.2%	15.8%	-1.4%	-21.4%	-32.4%	-4.3%	11.7%	17.7%	6.2%
EPS (₹)	—	—	—	-0.2	-2.8	-6.5	-2.5	20.6	28.8	8.7
EPS adjusted (₹)	-0	0	—	-0.2	-1.6	-3.3	-2.3	9.6	24.1	8.7
	—	—	—	—	—	—	—	0.5%	0.3%	1.7%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	22	22	24	24	26	26	31	31	31
Reserves	408	406	—	850	1,219	2,257	6,248	7,311	7,505
Minority interest	—	—	—	523	453	1,451	1,745	1,578	1,658
	695	810	—	3,046	4,095	4,765	3,440	2,802	2,103
	659	610	—	493	604	1,725	704	1,881	2,555
Total equity & liabilities	1,785	1,848	—	4,936	6,397	10,225	12,168	13,604	13,853
	—	—	134	1,868	1,833	3,827	3,761	3,383	3,419
CWIP	551	276	—	1,927	2,389	3,253	3,657	3,870	3,997
Investments	2	8	—	415	408	428	521	1,020	1,220
	1,231	1,564	—	726	1,768	2,717	4,229	5,331	5,218
Total assets	1,785	1,848	—	4,936	6,397	10,225	12,168	13,604	13,853

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Segment - Distribution & Development	3,689.91	75.88	3,092.61	561.39	2,531.22	3
Segment - Shipyard	282.14	-213.72

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	16.9%	34.3%	43.7%	33.2%	25.8%	20.9%	15.2%	1.9%
EBITDA margin %	6.9%	15.3%	21.1%	14%	16.1%	17.3%	-2.9%	-4.7%
EBIT margin %	2.8%	11%	8.1%	-0.4%	10.4%	15%	-5.8%	-7.5%
PAT margin %	15.8%	-1.4%	-21.4%	-32.4%	-4.3%	11.7%	17.7%	6.2%
Working capital
Receivable days	—	—	33	160	453	139	100	188
Inventory days	—	—	293	192	89	21	146	103
Payable days	—	—	67	232	329	19	70	106
NWC days	—	—	259	120	213	142	176	185
Leverage
Current ratio	—	—	0.35	1.41	1.14	3.13	2.14	1.91
Debt to EBITDA	—	—	44.98	59.96	20.61	3.96	—	—
Debt to equity	—	—	3.48	3.29	2.09	0.55	0.38	0.28
Interest coverage	2.3	0.9	0.3	0	0.7	3.7	8.9	5.5
Asset turnover	—	—	0.06	0.08	0.14	0.41	0.36	0.32
Return ratios
Return on assets %	—	—	-1.4%	-2.5%	-0.6%	4.8%	6.4%	2%
Return on capital employed %	—	—	0.9%	0.1%	2.4%	8.9%	15.2%	4.1%
Return on equity %	—	—	-7.8%	-12.7%	-2.7%	9.3%	11.9%	3.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	64.09%	64.09%	53.96%	53.96%	53.96%	53.96%	53.96%	53.96%	53.96%	53.96%	53.96%	53.96%
	17.57%	10.47%	11.16%	11.84%	11.79%	10.83%	10.26%	9.36%	8.89%	9.7%	10.42%	10.36%
	2.9%	5.88%	14.34%	14.81%	13.67%	13.19%	13.24%	13.23%	12.9%	12.83%	12.89%	12.9%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	15.44%	19.56%	20.54%	19.39%	20.58%	22.02%	22.54%	23.45%	24.25%	23.51%	22.73%	22.78%
No. of shareholders	—	—	—	—	—	—	—	—	1,60,856	1,44,702	1,37,452	1,40,601

Promoter holding down 10.13 percentage points since Sep 2023.

13 deals · 6 Dec 2023 – 10 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
10 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	53,31,806	₹304.19	₹162.19 Cr
10 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	53,31,806	₹304.04	₹162.11 Cr
10 Sept 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	17,24,427	₹304.08	₹52.44 Cr
10 Sept 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	17,21,319	₹304.19	₹52.36 Cr
10 Sept 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	15,91,724	₹305.85	₹48.68 Cr
10 Sept 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	15,91,724	₹305.95	₹48.70 Cr
31 Dec 2025	JAINAM BROKING LIMITED	Block	BSE	Sell	15,00,000	₹468.00	₹70.20 Cr
31 Dec 2025	JUPITER INDIA FUND	Block	BSE	Buy	10,96,642	₹468.00	₹51.32 Cr
31 Dec 2025	THE JUPITER GLOBAL FUND-JUPITER INDIA SELECT	Block	BSE	Buy	4,03,358	₹468.00	₹18.88 Cr
24 Nov 2025	JAINAM BROKING LIMITED	Bulk	BSE	Sell	19,96,031	₹460.00	₹91.82 Cr

1–10 of 13

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Navinbhai C DaveNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Nikhil V MerchantExecutive Director-MD
Mr. Paresh V MerchantExecutive Director
Mr. Sugavanam PadmanabhanExecutive Director
Mr. Chetan Kannaiyalal SelarkaExecutive Director
Mr. Prabhakar Reddy PatilNon-Executive - Independent Director
Mr. Jayaramakrishnan KannanNon-Executive - Independent Director
Mr. Rohinton Eruch ShroffNon-Executive - Independent Director
Mr. Ashish ChhabriaNon-Executive - Independent Director
Ms. Bhagwati SharmaNon-Executive - Independent Director
Mr. Kundan BhanawatChief Operating Officer

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 9 fund houses

Held by these funds

1.08%

of the company's equity

All mutual funds

4.98%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

30 schemes · 9 fund houses

		Shares
Flexi Cap Fund	Bank of India Mutual Fund	10.1 L	29.62	1%	0.322%	-0
ELSS Tax Saver FundNEW	Bank of India Mutual Fund	6.5 L	19.06	1.35%	0.207%	—
Aggressive Hybrid FundNEW	Bank of India Mutual Fund	5.25 L	15.4	0.75%	0.167%	—
Multi Cap FUND	Bank of India Mutual Fund	2.41 L	7.08	0.53%	0.077%	-0
Manufacturing and Infrastructure Fund	Bank of India Mutual Fund	2.4 L	7.04	0.74%	0.077%	-0
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	2.22 L	6.52	0.19%	0.071%	+2,718
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	1.13 L	3.31	0.19%	0.036%	+1,264
Large & Mid Cap Fund	Bank of India Mutual Fund	1.01 L	2.95	0.56%	0.032%	-0

1–8 of 30

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

17

Final dividend28 Aug 2026 · ex-date₹0.15
Final dividend22 Sept 2025 · ex-date₹0.1
Final dividend19 Sept 2024 · ex-date₹0.1
Final dividend21 Sept 2023 · ex-date₹0.1
Dividend dividend20 Sept 2022 · ex-date₹0.1
Dividend dividend7 Sept 2021 · ex-date₹0.1
Dividend dividend18 Sept 2020 · ex-date₹0.1
Dividend dividend3 Sept 2019 · ex-date₹0.1
Dividend dividend3 Sept 2018 · ex-date₹0.1
Dividend dividend13 Sept 2017 · ex-date₹0.08
Dividend dividend12 Sept 2016 · ex-date₹0.05
Dividend dividend3 Sept 2015 · ex-date₹0.15
Dividend dividend18 Sept 2014 · ex-date₹0.15
Dividend dividend5 Sept 2013 · ex-date₹0.5
Dividend dividend10 Sept 2012 · ex-date₹0.3
Dividend dividend14 Sept 2011 · ex-date₹0.2
Dividend dividend16 Sept 2010 · ex-date₹0.2

1

Board meeting to consider results13 Aug 2026

1

Face value ₹2 → ₹13 Feb 2014 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

21 announcementsExport CSV

29 Sept 2026, 12:25 pmCompany Update

Announcement Under Regulation 30 Of SEBI LODR Regulations, 2015- ESG Rating

General PDF

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Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	16.9%	34.3%	43.7%	33.2%	25.8%	20.9%	15.2%	1.9%
EBITDA margin %	6.9%	15.3%	21.1%	14%	16.1%	17.3%	-2.9%	-4.7%
EBIT margin %	2.8%	11%	8.1%	-0.4%	10.4%	15%	-5.8%	-7.5%
PAT margin %	15.8%	-1.4%	-21.4%	-32.4%	-4.3%	11.7%	17.7%	6.2%
Working capital
Receivable days	—	—	33	160	453	139	100	188
Inventory days	—	—	293	192	89	21	146	103
Payable days	—	—	67	232	329	19	70	106
NWC days	—	—	259	120	213	142	176	185
Leverage
Current ratio	—	—	0.35	1.41	1.14	3.13	2.14	1.91
Debt to EBITDA	—	—	44.98	59.96	20.61	3.96	—	—
Debt to equity	—	—	3.48	3.29	2.09	0.55	0.38	0.28
Interest coverage	2.3	0.9	0.3	0	0.7	3.7	8.9	5.5
Asset turnover	—	—	0.06	0.08	0.14	0.41	0.36	0.32
Return ratios
Return on assets %	—	—	-1.4%	-2.5%	-0.6%	4.8%	6.4%	2%
Return on capital employed %	—	—	0.9%	0.1%	2.4%	8.9%	15.2%	4.1%
Return on equity %	—	—	-7.8%	-12.7%	-2.7%	9.3%	11.9%	3.6%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Supreme Petrochem LimitedSPLPETROSPLPETRO	₹14,672 Cr	₹14,680 Cr	₹5,719 Cr	₹737 Cr	9.6%	₹485 Cr	6.1%	18.5%	13.9%	21
Swan Corp LimitedSWANCORPSWANCORP	₹8,552 Cr	₹10,656 Cr	₹4,172 Cr	₹-234 Cr	-4.7%	₹224 Cr	6.2%	4.1%	3.7%	185
Rain Industries LimitedRAINRAIN	₹7,013 Cr	₹16,837 Cr	₹18,464 Cr	₹2,788 Cr	12.6%	₹537 Cr	0.8%	8.6%	0.6%	134
Bhansali Engineering Polymers LimitedBEPLBEPL	₹3,080 Cr	₹3,080 Cr	₹1,440 Cr	₹246 Cr	17%	₹200 Cr	14.1%	23.3%	17.3%	86
Manali Petrochemicals LimitedMANALIPETCMANALIPETC	₹1,344 Cr	₹1,403 Cr	₹1,062 Cr	₹142 Cr	8%	₹180 Cr	12.7%	7.4%	10.9%	82
Dcw LimitedDCWDCW	₹1,317 Cr	₹1,627 Cr	₹2,210 Cr	₹204 Cr	10.3%	₹71 Cr	2.3%	9.7%	4.6%	-1
Tamilnadu Petroproducts LimitedTNPETROTNPETRO	₹1,109 Cr	₹1,558 Cr	₹1,783 Cr	₹204 Cr	8.9%	₹142 Cr	6.7%	11.7%	10.1%	116
Pasupati Acrylon LimitedPASUPTACPASUPTAC	₹620 Cr	₹728 Cr	₹1,032 Cr	₹144 Cr	11%	₹96 Cr	6.9%	20.7%	17.5%	52
Agarwal Industrial Corporation LimitedAGARINDAGARIND	₹579 Cr	₹915 Cr	₹1,492 Cr	₹111 Cr	7.1%	₹41 Cr	2.6%	10.1%	6.6%	24
Amtech Esters LtdAMTECHAMTECH	₹106 Cr	—	—	—	—	—	—	—	—	—
Indian Acrylics LtdINDIANACRYINDIANACRY	₹76 Cr	₹307 Cr	₹352 Cr	₹-1 Cr	-0.4%	₹-24 Cr	-6.9%	-3.5%	—	32
Polylink Polymers India LtdPOLYLINKPOLYLINK	₹48 Cr	₹53 Cr	₹91 Cr	₹4 Cr	3.3%	₹2 Cr	1.4%	5.6%	4%	60

Date	Category	Subject	Filing
29 Sept 2026, 12:25 pm	Company Update General	Announcement Under Regulation 30 Of SEBI LODR Regulations, 2015- ESG Rating	PDF
8 Sept 2026, 10:30 am	Insider Trading / SAST Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011	Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011.	PDF
8 Sept 2026, 10:12 am	Insider Trading / SAST Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.	PDF
4 Sept 2026, 8:42 pm	Company Update Change in Directorate	Announcement under Regulation 30 (LODR)-Change in Directorate	PDF
4 Sept 2026, 8:36 pm	AGM/EGM AGM	Shareholders Meeting- Proceedings Of 118Th Annual General Meeting.	PDF
4 Sept 2026, 8:34 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
4 Sept 2026, 8:31 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
15 Aug 2026, 12:59 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	123	69	67	42	75	302	29	-491	26	-529	-14
	-63	-29	-538	-0	20	-2,001	-494	-860	-512	1,346	294
	-45	-29	481	707	257	1,760	1,309	599	1,604	-560	-1,034
Net cash flow	—	—	—	—	—	62	843	-752	1,118	257	-754
Free cash flow	60	—	—	41	69	-1,468	-1	-2,561	-18	-828	-212
CFO / Operating profit %	440.1%	207.1%	280.7%	—	144.3%	446.2%	42.1%	-212.4%	3%	—	—

Swan Corp Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

17

1

1

Announcements

17

1

1

Not in the F&O segment

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Construction · revenue

Swan Corp Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends17

Board meetings1

Stock splits1

Announcements

Dividends17

Board meetings1

Stock splits1

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Construction · revenue

17

1

1

17

1

1