Swan Defence and Heavy Industries share price
NSE: SWANDEFBSE: 533107Industrial ManufacturingSmall Cap
Formerly Reliance Defence and Engineering
Last close ₹2,711.90down ₹142.70 (5.00%)BSE ₹2,696.90
Share price at the NSE close on 23 Oct 2026. Previous close ₹2,854.60.
52-week range of traded prices to 23 Oct 2026
₹736.45Low, 27 Oct 2025₹3,020.00High, 13 Oct 2026
- Delivery only: shares bought must be paid for in full, with no selling on the same day.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹14,287 Cr562nd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 12 Oct 2026
- 40.9
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 12 Oct 2026
- 6.3
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 12 Oct 2026
- 27.9%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 12 Oct 2026
- −11.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026. The filing of 12 Oct 2026
- 0.51
- Volume, NSEVolume. Shares traded on the last trading day.
- 18,854
Results
Consolidated; ₹ crore, the charts by years to March, the table by quarter.Quarterly results
Quarter to Sep 2026, against the quarter beforeFiled 12 Oct
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹69 Crup 124.90%
- Net profitNet profit. Under it, net profit in the quarter before. A change in per cent is not worked out where either period is a loss or nothing.
- ₹566 CrQuarter to Jun 2026: −₹42 Cr
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax.
- 822.8%
Revenue by year
Peak revenue ₹564 Cr, year to Mar 2017
Net profit by year, a loss in red
- Net profit
- Loss
A loss in 9 of the 10 years shown
| ₹ crore | Dec 2024Filed 8 Feb | Mar 2025Filed 12 Jun | Jun 2025Filed 1 Aug | Sep 2025Filed 12 Nov | Dec 2025Filed 4 Feb | Mar 2026Filed 27 May | Jun 2026Filed 11 Aug | Sep 2026Filed 12 Oct |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 5 | 0 | 40 | 6 | 236 | 31 | 69 |
| Net profit | −53 | −23 | −31 | −20 | −33 | −142 | −42 | 566 |
| Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. | −4,600.0% | −463.7% | −7,331.0% | −50.2% | −563.8% | −60.2% | −136.2% | 822.8% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
In the year to Mar 2026 the company reports one business segment which carries all its revenue.
Valuation
Today, against the company's own history. Not shown, EV/EBITDA: operating loss, last twelve months. Dividend yield is not shown: no dividend in the years on record.PE ratio and valuation history
Price to bookPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet.
At or below today's level on 1% of 186 trading days over the last year.
LowestHighest
Its median149.2Industry median2.8
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +1,747.6% | – | – | 0.0% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record. Earnings growth over 1 year is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.
Mutual funds holding it
5 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before.
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 5
| Fund | |||
|---|---|---|---|
 quant ELSS Tax Saver Fundquant Mutual Fund | 6,57,922 | 1.38% | ₹181.4 Cr |
 Bank of India Small Cap FundBank of India Mutual Fund | 1,40,841 | 1.06% | ₹38.8 Cr |
| Bank of India Aggressive Hybrid FundBank of India Mutual Fund | 60,000 | 0.75% | ₹16.5 Cr |
| Bank of India Manufacturing & Infrastructure FundBank of India Mutual Fund | 17,000 | 0.48% | ₹4.69 Cr |
 Samco Multi Cap FundSamco Mutual Fund | 2,775 | 0.35% | ₹0.77 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Peers and competitors
Industrial Manufacturing, 201 listed companies, priced on 23 Oct 2026. The table lists the 8 companies closest to Swan Defence and Heavy Industries in market cap.
Where the company sits among the companies nearest its size
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
 Syrma SGS TechnologySYRMA | 27,692 | 74.7 | 9.7 | 45.5 | +53.0% | +85.2% | 16.1% | 15.3% | 0.10% |
 Kaynes Technology IndiaKAYNES | 21,430 | 62.0 | 4.5 | 35.3 | +34.9% | +8.7% | 9.1% | 8.5% | 0.00% |
 Jyoti CNC AutomationJYOTICNC | 20,259 | 63.0 | 10.1 | 39.2 | +17.4% | −4.4% | 17.4% | 16.9% | 0.00% |
 LMWLMW | 17,038 | 83.1 | 5.6 | 56.7 | +19.4% | +71.6% | 7.0% | 5.1% | 0.22% |
 LLOYDS ENGINEERING WORKSLLOYDSENGG | 13,123 | – | 7.9 | 55.8 | – | – | – | 11.8% | 0.30% |
 Tega IndustriesTEGA | 12,948 | 612.8 | 3.8 | 48.2 | +84.9% | −89.4% | 0.9% | 2.3% | 0.12% |
| Bonfiglioli TransmissionsBONFIG | 10,800 | – | – | – | – | – | – | – | 0.00% |
 Titagarh Rail SystemsTITAGARH | 8,934 | – | 3.6 | 24.8 | −10.2% | – | – | 10.5% | 0.15% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Latest announcements
Routine notices left out.Share news and announcements
Oct 2026
8 Oct · Analysts
Swan Defence and Heavy Industries share price by year
Each calendar year to 2025.Swan Defence and Heavy Industries share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,388.20 | +61,054.2% | 1,388.20 | 37.80 |
| 2023BSE close | 2.27 | −11.3% | 3.68 | 1.65 |
| 2022BSE close | 2.56 | −47.2% | 4.65 | 2.33 |
| 2021 | 4.85 | +54.0% | 6.65 | 2.60 |
| 2020 | 3.15 | −30.0% | 4.70 | 1.00 |
| 2019 | 4.50 | −67.7% | 14.00 | 0.95 |
| 2018BSE close | 13.95 | −71.7% | 65.15 | 11.15 |
| 2017BSE close | 49.25 | −10.7% | 68.65 | 34.70 |
| 2016BSE close | 55.15 | −37.9% | 91.45 | 48.75 |
| 2015BSE close | 88.75 | +120.5% | 100.25 | 40.50 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2025 is from its first session, 21 Jan 2025. The change in 2025 is on the close at the end of 2023, the last year before it with a trade. The 2023 close is its last trade, on 13 Jul 2023.
Recent sessions
The last 10 trading days to 23 Oct 2026, as traded on NSE.
| Date | Open | High | Low | Close | Average price | Volume |
|---|---|---|---|---|---|---|
| 23 Oct 2026 | 2,786.00 | 2,900.00 | 2,711.90 | 2,711.90 | 2,734.81 | 18,854 |
| 22 Oct 2026 | 2,920.00 | 2,920.00 | 2,810.10 | 2,854.60 | 2,863.59 | 7,036 |
| 21 Oct 2026 | 2,948.80 | 2,999.00 | 2,784.10 | 2,941.50 | 2,887.07 | 38,158 |
| 19 Oct 2026 | 2,985.00 | 3,000.00 | 2,797.50 | 2,930.60 | 2,883.96 | 18,207 |
| 16 Oct 2026 | 2,895.00 | 2,989.90 | 2,895.00 | 2,944.70 | 2,932.82 | 10,977 |
| 15 Oct 2026 | 2,886.10 | 3,000.00 | 2,851.00 | 2,944.80 | 2,925.00 | 18,019 |
| 14 Oct 2026 | 2,969.00 | 2,975.00 | 2,851.00 | 2,939.20 | 2,928.96 | 20,768 |
| 13 Oct 2026 | 2,960.00 | 3,020.00 | 2,835.00 | 2,968.20 | 2,936.54 | 29,379 |
| 12 Oct 2026 | 2,808.90 | 2,950.00 | 2,800.00 | 2,931.10 | 2,880.99 | 34,275 |
| 9 Oct 2026 | 2,790.00 | 2,850.00 | 2,681.10 | 2,816.80 | 2,803.55 | 34,005 |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Offer for sale history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 17 May 2018 | Price move | – | Between two trading sessions the price moved by a fifth or more. The company made an announcement in time for trading that day or the trading day before. Not adjusted for. |
| 1 Jan 2018 | Price move | – | Between two trading sessions the price moved by a fifth or more. No corporate action is on record. Not adjusted for. |
Each event is noted and not adjusted for.
Company details
- Legal name
- Swan Defence and Heavy Industries Limited
- NSE symbol
- SWANDEF
- BSE code
- 533107
- ISIN
- INE542F01020
- Industry
- Industrial Manufacturing
- Listed
- Oct 2009 on BSE, Jul 2010 on NSE
- Face value
- ₹10
- Former symbols
- RNAVAL, RDEL, RDEL, PIPAVAVDOC, PIPAVAVYD
- CIN
- L35110GJ1997PLC033193
- Corporate identity number, the registrar of companies' code for it