Announcement
Announcement under Regulation 30 (LODR)-Scheme of Arrangement 26 Aug - NCLT Ahmedabad approved amalgamation of Triumph Offshore into Swan Defence; effective after ROC filing.
Source: Bse
Swan Defence and Heavy Industries Limited (SWANDEF)
Small CapConsumer stocks · Small cap · NSE
Swan Defence and Heavy Industries Limited operates in Retail / E-Commerce, within the Consumer sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals18 Oct 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result12 Oct, 06:00 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
63Bullishfull bull SMA stack · SMA20 +10.8% / mo · MACD + · near 52W high · sector -4.6pp vs Nifty 500 (3M)
Stock trend: 85
Sector RS: 31
Sector 3M: -10.2% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SWANDEFD candles · FIT view+58.3%Latest close ₹2941.50 on 2026-10-21
Bar
-0.2%
RSI
69
MACD hist
6.43
52W pos
97%
2026-10-21O ₹2948.80H ₹2999.00L ₹2784.10C ₹2941.50Vol 38,158 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SWANDEFNifty Consumer DurablesNifty 500
- SWANDEF
- +26.7%
- Nifty 500
- -6.5%
- Nifty Consumer Durables
- -11.0%
- Vs Nifty 500
- +33.2 pp
Chart stats
21 Oct 2026- From 52W high
- -2.6%
- 52W range position
- 97%
- ATR (14)
- 4.9%
- Volume vs 20D
- 1.90x
- Avg traded value
- ₹6.1 Cr
- 20D price channel
- ₹2,575 - ₹3,020
₹3,020
₹179.1 - ₹3,020
₹143.9
Latest completed session
20-session average
24.7% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED24
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average32
Revenue +72.1% · PAT NDF YoY
Technical
Bullish63
Price trend and sector-relative-strength timing.
Valuation
Legacy model-33.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence56
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Average · 32/100margin compression · Rev +72% YoY · +125% QoQ
Filed 12 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹68.9 Cr | +72.1% | +124.9% |
| EBITDA | ₹-17 Cr | -112.8% | +18.7% |
| Operating margin | -24.7% | -572 bps | +4369 bps |
| PAT | ₹566.4 Cr | NDF | NDF |
| PAT margin | 822.7% | +87272 bps | +95888 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 44.40
- P/B
- 6.86
- EV/EBITDA
- —
- Market Cap
- 15513.00Cr
Profitability
- ROE
- -124.00%
- ROCE
- -7.60%
- ROA
- 8.96%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 114.00%
- EPS 5Y
- 14.00%
- Revenue 3Y
- 228.00%
- EPS 3Y
- 23.00%
Balance Sheet
- Debt/Equity
- 0.53
- Interest Coverage
- -7.02×
- Altman Z
- 6.53
- Book Value
- 429.00
Cash Flow
- FCF Yield
- 0.13%
- FCF Positive Y
- 3/5
- OCF
- 182.00 Cr
- EPS TTM
- 66.33
Shareholding
- Promoter Hold
- 89.90%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 97%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 68.8+124.9% vs prev
Net Profit
₹ CrLatest: 566+1459.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 69. Wait for confirmation.
- SMA20 rising (~9.7% over last month) — short-term momentum positive.
- RSI(14) at 69 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
91
RS percentile
Stage 2 UptrendEstablished S2
1M return
+8.4%
3M return
+26.7%
6M return
+61.7%
1Y return
-
RS 1D
+2
RS 20D
+6
Sector rank
#8
Industry rank
#24
Stage evidence
- Price is 31.8% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +4.9%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 observed by
22 Jun 2026
S2 age
85 trading sessions
Sector
neutral
Industry
improving
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
189 observations
21 Oct 2026Value 505.47+1.31%
RS vs Nifty 500505
Valuation & peers
U-Score 24 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 24 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth13/25
Quality0/20
Balance Sheet6/15
Cash Flow3/10
Piotroski
5/9 (+3)
Penalties
-1
Raw sum
24
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
24/100 · legacy band OVERVALUED
Positive drivers
- Growth contributes 13/25 to the score.
- Balance sheet contributes 6/15 to the score.
- Cash flow contributes 3/10 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -33.2%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
44.4
PB
6.9
EV/EBITDA
—
ROE
-124.0%
ROCE
-7.6%
FCF Yield
0.1%
Debt/Equity
0.5
MoS
-33.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
24
Previous: 24
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-33.2%
Previous: -32.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
19
19
19
19
19
19
19
21
24
24
24
24
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹800.16
-267.6% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹2,208.79
-33.2% MoS
PEG
2.52
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
KRISHNADEF
Micro
Krishna Defence And Allied Industries Limited
Retail
match 162
59
41.5
25.4%
-19%
FAIR VALUE
BEML
Small
BEML Limited
Defence / Aerospace
match 79
26
90.5
4.8%
-130%
OVERVALUED
VAISHALI
Small
Vaishali Pharma Limited
Defence / Aerospace
match 78
24
24.2
6.0%
+44%
OVERVALUED
KAUSHALYA
Small
Kaushalya Infrastructure Development Corporation Limited
Defence / Aerospace
match 77
14
—
0.4%
—
OVERVALUED
AZAD
Small
Azad Engineering Limited
Defence / Aerospace
match 77
34
139.0
9.1%
-218%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Swan Defence and Heavy Industries Limited operates in Retail / E-Commerce, within the Consumer sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Sept 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
56Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 18th percentile of the scored universe and 20th percentile within Consumer. Main check: balance sheet trust is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
21 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
18th percentile
overall median 67 · Consumer: 20th pctile, median 66 · Small: 20th pctile, median 66
Evidence depth
Financial-only
21 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
68
acceptable · holding, pledge, alignment
Cash flow
65
acceptable · profit to cash conversion
Balance sheet
40
weak · leverage and solvency
Discipline
48
watch · capital discipline
Results
57
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 89.9%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.2%.
- ▸3/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Promoter holding fell 5%.
- ▸Debt/equity is 39.83.
- ▸ROCE is low at -7.6%.
- ▸ROE is low at -124%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Swan Defence and Heavy Industries Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 20 Aug - Swan Defence and Heavy Industries Limited has informed about Copy of Newspaper Publication
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Aug - Swan Defence and Heavy Industries Limited has informed about copy of Newspaper Publication.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Aug - Swan Defence and Heavy Industries Limited has informed about Copy of Newspaper Publication regarding the Notice of the 29th Annual General Meeting of the Company.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.