Swan Energy Ltd Share Price – NSE  /  BSE

Diversified, Small Cap

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Swan Group is among India's leading private sector business houses serving the nation for more than a century across textile, real estate and oil & gas sectors.

The company reported consolidated net profit of Rs 219.99 crore in Q3 FY24 as compared with net loss of Rs 157 crore posted in Q3 FY23. Revenue from operations stood at Rs 1,591.67 in Q3 FY24, steeply higher than Rs 101.09 crore recorded in the same period a year ago.

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Swan Energy announced that its subsidiary, Swan LNG (SLPL) has repaid entire loan of Rs 2206 crore along with interest to the consortium of banks.

With the prepayment, SLPL will save around Rs.250 crore in interest payment, which will strengthen Swan group's balance sheet leading to a possible upgrade and re-rating.

Post prepayment, SEL's debt has come down to Rs. 1675 crore. The external debt position of the group was ~Rs.4128 crore in September 2023, which reduced to ~Rs.3817 crore in December 2023. To facilitate the pre-payment, SEL has lent Rs.2210 crore to SLPL.

SEL has recently raised Rs. 3,000 crore through a Qualified Institutions Placement (QIP). The funds raised through the QIP will be strategically deployed towards the modernization of the recently acquired erstwhile Reliance Naval and Engineering (RNEL) shipyard at Pipavav. Additionally, a portion of the funds will be allocated for project expansion and debt reduction.

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The group’s external debt position was approximately Rs 4,128 crore in September 2023, reduced to approximately Rs 3,817 crore in December 2023 and now stands at approximately Rs 1,675 crore.

The company is fully focused on growth and in-parallel is continuously endeavoring to reduce debt from the balance sheet,” Swan Energy said in a statement.

Swan Group is among India's leading private sector business houses serving the nation for more than a century across textile, real estate and oil & gas sectors.

The company reported consolidated net profit of Rs 219.99 crore in Q3 FY24 as compared with net loss of Rs 157 crore posted in Q3 FY23. Revenue from operations stood at Rs 1,591.67 in Q3 FY24, steeply higher than Rs 101.09 crore recorded in the same period a year ago.

The scrip fell 2.09% to currently trade at Rs 715.60 on the BSE.

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Man Infraconstruction Ltd, Jindal Worldwide Ltd, MAS Financial Services Ltd and Fineotex Chemical Ltd are among the other losers in the BSE's 'A' group today, 02 March 2024.

Swan Energy Ltd tumbled 4.19% to Rs 730.85 at 02-Mar-2024 EOD IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 50472 shares were traded on the counter so far as against the average daily volumes of 1.45 lakh shares in the past one month.

Man Infraconstruction Ltd lost 3.28% to Rs 209.5. The stock was the second biggest loser in 'A' group.On the BSE, 30192 shares were traded on the counter so far as against the average daily volumes of 71398 shares in the past one month.

Jindal Worldwide Ltd crashed 3.04% to Rs 418.3. The stock was the third biggest loser in 'A' group.On the BSE, 5110 shares were traded on the counter so far as against the average daily volumes of 77900 shares in the past one month.

MAS Financial Services Ltd pared 2.86% to Rs 322.2. The stock was the fourth biggest loser in 'A' group.On the BSE, 11740 shares were traded on the counter so far as against the average daily volumes of 22342 shares in the past one month.

Fineotex Chemical Ltd shed 2.80% to Rs 414.7. The stock was the fifth biggest loser in 'A' group.On the BSE, 39415 shares were traded on the counter so far as against the average daily volumes of 1.39 lakh shares in the past one month.

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