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SWAN CORP LIMITED (SWANCORP)

₹265.35 +0.55% last close, 16 Oct

📊 NSE: SWANCORP 🏢 Petrochemicals 📢 Latest filing: 14 Oct 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, SWAN's revenue was ₹1,014 Cr (-16.4% year on year, +16.6% on the previous quarter), and net profit ₹-36.0 Cr (against a profit a year earlier); the operating margin was -0.4%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹1,014	-16.4%	+16.6%
Operating profit	₹-4.0	to loss	loss narrowed
Net profit	₹-36.0	to loss	to loss
EPS (₹)	-1.00	to loss	to loss
Operating margin	-0.4%	—	—

Full quarterly financials → Results calendar →

SWANCORP delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 23.01% of the SWANCORP shares traded on NSE were taken to delivery, against the stock's own 20-session average of 27.77%. That is close to its usual level. Volume was 0.1 times its average, well below normal.

23.01%Delivery, 16 Oct

27.77%Own 20-session average

0.1×Volume vs its average

₹265.35NSE close · +0.55%

Delivery in the last 5 sessions: 23.4% · 26.9% · 28.9% · 31.6% · 23.0%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Swan Realty Launches Luxury Housing Project 'Bodhi' in Bengaluru; Completion by March 2028

🟡 NEUTRAL ⭐ 4/10

EXPANSION 📅 14 Oct 2026, 07:20 AM

Swan Corp's real estate division, Swan Realty, has launched a low-density luxury residential project named 'Bodhi' in Jayanagar, Bengaluru. The development is spread across 30,000 sq. ft. and comprises 24 four-bedroom units, each spanning over 4,000 sq. ft. Total project revenue potential was not disclosed in the filing. The project is RERA-registered and has a targeted completion timeline of March 2028.

Project 'Bodhi' launched on a 30,000 sq. ft. land parcel in Jayanagar, Bengaluru.
Comprises 24 four-bedroom residences, each measuring over 4,000 sq. ft.
Marks Swan Realty's second development in Bengaluru following Cardinal One.
Scheduled project completion target is March 2028.

💡 Track quarterly pre-sales data and cash flow disclosures from real estate operations relative to the company's core energy and industrial businesses.

Swan Corp Submits Dematerialisation Certificate for Quarter Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Oct 2026, 04:37 PM

Swan Corp Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. Issued by registrar Purva Sharegistry (India) Pvt. Ltd., the filing confirms that physical share certificates received from depository participants were duly verified, mutilated, cancelled, and substituted in the register of members. The annexure details five dematerialisation transactions executed between July 1, 2026, and September 30, 2026, totaling 4,800 shares. This is a standard quarterly administrative disclosure with no financial impact.

Regulation 74(5) confirmation filed for the quarter ended September 30, 2026
Issued by Registrar and Share Transfer Agent Purva Sharegistry (India) Pvt. Ltd. on October 1, 2026
A total of 4,800 shares dematerialised across 5 folios during the period from July 1, 2026, to September 30, 2026

💡 No action required. Investors should track upcoming quarterly financial results for material business updates.

Swan Corp Shareholders Approve Re-appointment of Sugavanam Padmanabhan as WTD for 3 Years

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 04 Sep 2026, 08:41 PM

At the 118th Annual General Meeting held on September 4, 2026, shareholders of Swan Corp Limited approved the re-appointment of Mr. Sugavanam Padmanabhan as Whole-Time Director. The re-appointment is for a term of 3 years, effective September 24, 2026. Mr. Padmanabhan is a Chartered Accountant and former Director (Finance) of Indian Oil Corporation Limited with over 50 years of experience in the Oil & Gas industry.

Shareholder approval granted at the 118th AGM on September 4, 2026
Re-appointed as Whole-Time Director for a 3-year term commencing September 24, 2026
Profile brings over 50 years of Oil & Gas industry experience and former IOCL Finance Director background

💡 Track operational execution across the 5 MMTPA LNG terminal and shipyard division (SDHI) under the continued leadership.

Swan Corp AGM: Rs 0.15 Dividend Approved, Promoter Kin Pay Resolution Defeated

🟡 NEUTRAL ⭐ 5/10

ROUTINE 📅 04 Sep 2026, 08:27 PM

Swan Corp Limited concluded its 118th Annual General Meeting on September 04, 2026, with shareholders passing 8 out of 9 proposed resolutions. Key approvals included the adoption of FY26 financial statements, a dividend declaration of Rs 0.15 per equity share (FV Rs 1), and the re-appointment of Whole-Time Director Mr. Sugavanam Padmanabhan (99.95% approval). Material Related Party Transactions (RPTs) were approved with a 62.78% majority. Notably, Resolution 9—seeking remuneration approval for promoter-related executives (Mr. Bhavik Merchant, Mr. Vivek Merchant, and Ms. Vinita Patel)—was defeated with 61.82% votes against.

Declared an ordinary dividend of Rs 0.15 per equity share of face value Rs 1 for FY26.
Resolution 9 proposing remuneration for promoter relatives holding office of profit failed, with 61.82% votes cast against.
Material Related Party Transactions for the company and subsidiaries (Resolutions 7 & 8) passed with 62.78% votes in favour.
Whole-Time Director Sugavanam Padmanabhan re-appointed with 99.95% votes in favour.
52 shareholders attended via video conference representing 53.93% of capital via corporate authorizations.

💡 Monitor subsequent board disclosures regarding executive roles and revised compensation proposals following the rejection of Resolution 9.

118th AGM Scheduled for Sept 4, 2026; Annual Report Dispatched to 4,526 Shareholders

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Aug 2026, 05:41 PM

Swan Corp Limited (formerly Swan Energy) has scheduled its 118th Annual General Meeting (AGM) for September 4, 2026, via video conferencing. The company has completed the physical dispatch of letters to 4,526 shareholders who have not registered their email addresses, providing them with the web link to the FY 2025-26 Annual Report. This filing is a procedural compliance under SEBI Regulation 36. Investors should look to the upcoming Annual Report for updates on the 5 MMTPA LNG terminal and the shipyard division's progress.

118th Annual General Meeting (AGM) to be held on September 4, 2026, at 11:30 AM IST
Physical letters dispatched to 4,526 shareholders who lack registered email addresses
Dispatch of physical letters was completed on August 13, 2026, via ordinary post
Shareholder cut-off date for the dispatch list was July 31, 2026
The company is enforcing SEBI mandates for recording PAN, KYC, and nomination details for physical holders

💡 Investors should access the provided web link to review the FY 2025-26 Annual Report, specifically focusing on management's commentary regarding the operationalization of the Jafrabad LNG port and the scaling of the SDHI shipyard division.

Swan Corp Approves Q1 FY27 Financial Results; Board Meeting Concluded

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 13 Aug 2026, 06:25 PM

Swan Corp Limited (formerly Swan Energy) has approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The board meeting, which lasted approximately 3 hours and 8 minutes, follows a period where TTM revenue stood at Rs 1,150 Cr with a thin operating margin of 1.9%. Investors should scrutinize the detailed P&L for progress on the 5 MMTPA LNG terminal and the Defense & Shipyard (SDHI) division. The company is currently navigating a transition from high-volume trading to infrastructure-led regasification and defense services.

Board approved unaudited financial results for the quarter ended June 30, 2026, on August 13, 2026.
The board meeting commenced at 3:00 p.m. and concluded at 6:08 p.m.
Company is operating against a TTM revenue base of Rs 1,150 Cr as of the previous reporting period.
Operating profit margin (OPM) stood at 1.9% for the trailing twelve months leading into this quarter.
The company continues its strategic shift following the sale of an FSRU for USD 399 million.

💡 Investors should examine the full financial statement to verify if the 5 MMTPA LNG terminal is generating the expected fixed-fee regasification income and to assess the margin impact of the Defense & Shipyard division.

Swan Corp to hold 118th AGM on Sept 4; recommends ₹0.15 dividend

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 12 Aug 2026, 07:25 PM

Swan Corp Limited has scheduled its 118th Annual General Meeting (AGM) for September 4, 2026, to approve the FY26 financial statements and a 15% dividend. The proposed dividend of ₹0.15 per share results in a total payout of ₹4.70 crore, which is a marginal ~0.57% of FY25 PAT. Key agenda items include the re-appointment of Mr. Sugavanam Padmanabhan as Whole-Time Director for a three-year term and the ratification of material related party transactions. The record date for dividend eligibility is fixed for August 28, 2026.

Dividend of ₹0.15 per share (15% of face value ₹1) recommended for the financial year 2025-26.
Total dividend payout amounts to ₹4,70,18,533 on 31,34,56,886 equity shares.
Record date for dividend payment set for Friday, August 28, 2026.
Proposed re-appointment of Mr. Sugavanam Padmanabhan as Whole-Time Director for 3 years (Sept 2026 to Sept 2029).
Cost Auditor remuneration for FY27 proposed at ₹75,000 plus applicable taxes.

💡 Investors should note the record date of August 28 for dividend eligibility and monitor the AGM proceedings for updates on the company's LNG terminal and shipyard expansion strategies.

Swan Corp Schedules In-Person Meeting with SBI General Insurance for August 13, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Aug 2026, 07:27 PM

Swan Corp Limited (formerly Swan Energy) has announced a scheduled interaction with SBI General Insurance Company Limited. The meeting is set to take place in-person in Mumbai on August 13, 2026. This is a routine disclosure under SEBI Listing Obligations, and the company has stated that no unpublished price-sensitive information will be shared. Such meetings are standard for maintaining institutional investor relations.

Meeting scheduled for August 13, 2026, with SBI General Insurance Company Limited
Interaction will be conducted 'In-person' at Mumbai
Company reported TTM revenue of Rs 1,150 Cr as of the December 2025 quarter
Stock has seen a 12-month price return of -27.5% leading up to this announcement

💡 Investors should check for any post-meeting presentations or transcripts filed with the exchanges to see if management provides updates on the 5 MMTPA LNG terminal or the SDHI shipyard division.

Swan Corp Submits Quarterly Share Dematerialization Certificate for June 2026 Quarter

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jul 2026, 03:55 PM

Swan Corp Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The filing, issued by Purva Sharegistry (India) Pvt. Ltd, confirms that physical share certificates received for dematerialization were processed, mutilated, and cancelled within prescribed timelines. The document specifically details the dematerialization of 33,200 shares across two folios in May 2026. This is a standard administrative procedure to ensure the integrity of electronic shareholding records.

33,200 total shares specifically identified as dematerialized during the quarter
13,200 shares dematerialized for Folio E0010001 on May 6, 2026
20,000 shares dematerialized for Folio E0010002 on May 9, 2026
Confirmation provided for the full quarter ended June 30, 2026

💡 No action is required as this is a routine regulatory filing confirming administrative compliance with SEBI depository regulations.

Swan Corp Clarifies on Significant Trading Volume Spurt; No Undisclosed Material Info

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 07 Jul 2026, 10:52 AM

Swan Corp Limited (formerly Swan Energy Limited) has responded to a surveillance query from the National Stock Exchange regarding a significant increase in trading volume. The company clarified that it has made all required disclosures under Regulation 30 of SEBI (LODR) Regulations, 2015. Management stated that no material information or event has been withheld that would impact the price or volume behavior of the scrip. This is a routine regulatory clarification following unusual market activity.

NSE issued a surveillance letter (Ref: NSE/CM/Surveillance/17219) on July 6, 2026, regarding volume spurt
Company submitted its formal response on July 7, 2026
Management confirmed compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
Company stated all relevant information is already in the public domain

💡 Investors should treat this as a routine regulatory interaction; continue to monitor official exchange filings for any future material developments.

Swan Corp Limited Announces Trading Window Closure from July 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Jun 2026, 06:37 PM

Swan Corp Limited (formerly Swan Energy Limited) has announced the closure of its trading window for designated persons starting July 1, 2026. This mandatory regulatory action is taken in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results. The window will remain closed until 48 hours after the announcement of the unaudited financial results for the quarter ending June 30, 2026. This is a standard procedure to ensure market integrity and prevent insider trading during the sensitive pre-earnings period.

Trading window for insiders to be closed starting Wednesday, July 1, 2026.
Closure is related to the upcoming unaudited financial results for the quarter ended June 30, 2026.
Trading window will reopen 48 hours after the financial results are declared to the Stock Exchanges.
PAN freezing at the security level will be implemented for designated persons as per SEBI circular dated July 19, 2023.

💡 This is a routine regulatory filing and should not impact investment decisions. Investors should focus on the upcoming quarterly results for actual performance metrics.

Swan Corp Promoters Confirm No New Encumbrances for FY 2025-26

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 16 Jun 2026, 12:27 PM

Nikhil Merchant, representing the promoter group of Swan Corp Limited (formerly Swan Energy Limited), has filed a disclosure under Regulation 31(4) of the SEBI (SAST) Regulations. The filing confirms that the promoters and promoter group have not made any new encumbrances, directly or indirectly, on their shareholding during the financial year ended March 31, 2026. This annual declaration ensures transparency regarding the status of promoter-pledged shares.

Annual disclosure submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Confirmation that no new pledges or encumbrances were created during the financial year ended March 31, 2026.
The declaration covers 15 promoter and promoter group entities, including 3 individuals and 12 private limited companies.
The filing reaffirms the stability of the promoter's holding status as previously disclosed through the System Driven Disclosure (SDD).

💡 No immediate action is required as this is a routine annual compliance filing that confirms the absence of undisclosed promoter debt or share pledging.

Swan Corp Recommends Re 0.15 Dividend; Sets Record Date for August 28, 2026

🟢 POSITIVE ⭐ 6/10

DIVIDEND 📅 29 May 2026, 07:22 PM

Swan Corp Limited has recommended a dividend of Re 0.15 per equity share (15% of face value) for the financial year 2025-26. The company has fixed August 28, 2026, as the record date to determine the eligibility of shareholders for this payout. The dividend is subject to shareholder approval at the upcoming 118th Annual General Meeting (AGM) scheduled for September 4, 2026. Additionally, the share transfer books will remain closed from August 29 to September 4, 2026.

Board recommended a dividend of Re 0.15 per equity share of Re 1 face value (15%) for FY 2025-26.
Record date for determining dividend eligibility is fixed as Friday, August 28, 2026.
Book closure period for the 118th AGM and dividend is from August 29, 2026, to September 4, 2026.
The 118th Annual General Meeting is scheduled to be held on September 4, 2026.

💡 Investors interested in the dividend should ensure they hold the shares before the ex-dividend date to be eligible for the Re 0.15 per share payout.

Swan Corp Recommends 15% Dividend; Sets Record Date for August 28, 2026

🟢 POSITIVE ⭐ 6/10

DIVIDEND 📅 29 May 2026, 07:20 PM

Swan Corp Limited has recommended a dividend of Re. 0.15 per equity share for the financial year 2025-26, representing a 15% payout on the face value of Re. 1. The company has fixed August 28, 2026, as the record date to determine shareholder eligibility for this payout. The dividend is subject to approval at the 118th Annual General Meeting scheduled for September 4, 2026. Share transfer books will remain closed from August 29 to September 4, 2026, for the purpose of the AGM and dividend distribution.

Recommended dividend of Re. 0.15 per equity share (15% of face value)
Record date for dividend eligibility fixed as August 28, 2026
118th Annual General Meeting (AGM) to be held on September 4, 2026
Book closure period set from August 29, 2026, to September 4, 2026

💡 Investors seeking to receive the dividend must hold the shares before the ex-dividend date, which is typically one business day prior to the August 28 record date. While the dividend yield is relatively low, it reflects the company's commitment to returning capital to shareholders.

Swan Corp Recommends Final Dividend of Rs 0.15 per Share for FY 2025-26

🟢 POSITIVE ⭐ 4/10

DIVIDEND 📅 29 May 2026, 07:18 PM

Swan Corp Limited has announced a final dividend of Rs 0.15 per equity share for the financial year 2025-26, representing a 15% payout on its Re 1 face value. The company has fixed August 28, 2026, as the record date to determine eligibility for this payout. The dividend is subject to shareholder approval at the 118th Annual General Meeting scheduled for September 4, 2026. This announcement follows the board meeting held on May 29, 2026.

Recommended final dividend of Rs 0.15 per equity share (15% of face value)
Record date for dividend eligibility set for August 28, 2026
Book closure period from August 29, 2026, to September 4, 2026
Final approval to be sought at the 118th AGM on September 4, 2026

💡 Investors interested in the dividend must hold the shares before the record date of August 28, 2026. Given the small dividend amount, investors should focus more on the company's core business performance and growth outlook.

View All SWANCORP Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total consolidated income grew 35% YoY to INR 6,883.68 Cr in FY 2024-25. The Petroleum and Petroleum product segment grew 12% to INR 4,315.27 Cr. The Energy segment reported revenue of INR 381.04 Cr, reflecting a consolidation phase.

Geographic Revenue Split

Not specifically disclosed by percentage, but operations are centered in India (Gujarat for LNG/Shipyard, Maharashtra for Textiles/Real Estate) with global sourcing for the petroleum trading business.

Profitability Margins

Operating Profit Margin improved significantly to 11.02% in FY 2024-25 from 3.96% in FY 2023-24 (a 178.06% increase). Net Profit Margin rose to 6.57% from 0.57% (a 1052.63% increase), driven by higher interest income and reduced low-margin trading volumes.

EBITDA Margin

Standalone EBITDA margin was 4.62% in Q1FY24, having declined from 8.42% in FY21 and 5.10% in FY23 due to a higher contribution from low-margin trading activities.

Capital Expenditure

The company realized approximately USD 399 million (approx. INR 3,300 Cr) from the sale of the FSRU 'Vasant-1' by its subsidiary Triumph Offshore Pvt. Ltd. to manage liquidity and debt.

Credit Rating & Borrowing

Acuité reaffirmed a long-term rating of 'ACUITE BBB-' and short-term rating of 'ACUITE A3' in October 2023, which was subsequently withdrawn in June 2024 following a 'No Dues Certificate' from lenders.

⚙️ Operational Drivers

Raw Materials

Petroleum products for trading, Liquefied Natural Gas (LNG) for regasification, and textile fabrics/yarn for the textile division.

Import Sources

Global markets for petroleum trading; domestic sourcing for textile operations; LNG sourcing linked to global supply chains.

Key Suppliers

Not specifically named, but involves a global network of suppliers and buyers for the petroleum value chain and trading operations.

Capacity Expansion

The Jafrabad LNG port facility has a planned regasification capacity of 5 MMTPA. The shipyard division (SDHI) is scaling up with 400+ in-house and 600+ vendor personnel.

Raw Material Costs

Trading goods costs are the primary expense; a reduction in trading revenue led to a 67.44% improvement in inventory turnover and higher overall margins as the business mix shifted.

Manufacturing Efficiency

Inventory turnover ratio decreased 67.44% to 1.13 in FY25 from 3.47 in FY24, reflecting a strategic shift away from high-volume, low-margin trading of goods.

Logistics & Distribution

Distribution is managed through a global network for trading and the 'One Nation, One Grid' policy for gas infrastructure.

📈 Strategic Growth

Expected Growth Rate

35%

Growth Strategy

Growth is driven by the operationalization of the 5 MMTPA LNG terminal, expansion into Defense and Heavy Industries (SDHI) for shipbuilding and repairs, and capitalizing on the 'One Nation, One Grid' policy. The sale of the FSRU for USD 399 million provides liquidity for these capital-intensive expansions.

Products & Services

LNG regasification services, petroleum products, textile fabrics, real estate developments, and shipbuilding/repair services (including LPG/LNG tankers and rigs).

Brand Portfolio

Swan Energy, Veritas (India) Limited, Swan LNG, Swan Defence and Heavy Industries (SDHI).

New Products/Services

Expansion into Defense & Shipyard (SDHI) for building and repairing chemical tankers and passenger cruises; habitation development for manpower at Pipavav.

Market Expansion

Targeting the Indian energy deficit through LNG infrastructure and the defense sector via the acquisition of shipyard assets.

Market Share & Ranking

Positioned as a key player in the private LNG terminal space in India with a 5 MMTPA capacity.

Strategic Alliances

Subsidiaries include Veritas (India) Limited (55.01%), Swan LNG (100%), and Swan Defence and Heavy Industries (63%).

🌍 External Factors

Industry Trends

The industry is shifting toward 'One Nation, One Grid' and green energy; India's gas demand-supply gap makes RLNG infrastructure a critical growth area.

Competitive Landscape

Competes with major PSU and private energy players in the LNG and petroleum trading space.

Competitive Moat

Moat is built on high-entry-barrier energy infrastructure (LNG terminals) and specialized shipyard capabilities; sustainability is supported by long-term tolling contracts.

Macro Economic Sensitivity

Highly sensitive to India's GDP growth and energy demand; benefited from the Interim Union Budget 2024-25 investments in gas infrastructure.

Consumer Behavior

Rising domestic consumption of energy and industrial demand for natural gas are driving the shift toward LNG.

Geopolitical Risks

Geopolitical conflicts and protectionism are cited as headwinds that could disrupt global petroleum supply chains.

⚖️ Regulatory & Governance

Industry Regulations

Operations governed by the Companies Act 2013, SEBI Listing Regulations, and Petroleum/Natural Gas regulatory frameworks.

Environmental Compliance

Focus on 'Green Hydrogen Mission' and cleaner energy future through LNG terminal investments.

Taxation Policy Impact

Effective tax rate for FY25 was approximately 26% (INR 317.61 lakhs tax on INR 1,223.10 lakhs PBT).

Legal Contingencies

No reported frauds; no applications or proceedings pending under the Insolvency and Bankruptcy Code (IBC) as of March 31, 2025.

⚠️ Risk Analysis

Key Uncertainties

Implementation risk for the LNG project which has faced multi-year delays; volatility in the low-margin trading business which previously caused margin deterioration.