On December 4, Swan Energy’s shares jumped 15.40 per cent during intraday trading, reaching a three-month high of ₹728.70 a share before ending the day with a 12.34 per cent gain at ₹709 per share. The stock gained 53% in just six weeks as a result of this rally.
According to a declaration submitted on Monday to the stock exchanges, the business announced that it has begun operations at its shipyard, formerly known as Reliance Naval and Engineering, which it acquired earlier this year. This news has caused Dalal Street to hum with activity.
Swan’s shipyard has started refitting ships, with the first repair project being the Raj Ratan, a swift patrol vessel used by the Indian Coast Guard (ICG). Commencing on September 4, 2024, the refit was finished on November 30, 2024, ahead of time. In cooperation with Sadhav Offshore Engineering Pvt Ltd, the project was completed.
Swan’s shipyard supplied end-to-end services, such as berthing and dry-docking, as well as crucial yard services necessary for the vessel’s overhaul, as part of the ICG vessel’s extensive repair. Additionally, Swan’s shipyard is getting ready to start shipbuilding at the location.
The 662-by-65-meter dry dock at Swan’s Shipyard is the biggest in India and among the biggest worldwide.
Vivek Merchant, Director of Swan’s Shipyard, said, “The resumption of operations at our shipyard marks the successful culmination of our dedicated efforts to rejuvenate this strategic facility. Delivering our first Indian Coast Guard vessel underscores our commitment to enhancing India’s ship repair and shipbuilding capabilities. Our vision is to establish our shipyard as a leading maritime hub for the manufacturing of defence and commercial ships and the heavy engineering sector on a global scale.”
The first Indian private enterprise to be granted permission to construct warships was Reliance Naval. Its 662 m × 65 m drydock is the largest integrated shipbuilding facility in India.
According to analysts, this business segment, which has the second-longest dockyard in the world, is seeing tremendous prospects in heavy engineering, ship repair and upgrades, oil and gas rig repair, and defence and commercial shipbuilding.
Swan Energy has expanded into the oil and gas, petrochemical, defence, and shipbuilding industries in recent years, all the while continuing to be actively involved in the textile and real estate industries.
The company’s stock, which was worth ₹120 each in November 2021, has now increased by 492% to ₹709 each share. Over the past five years, the stock has continuously produced positive returns in terms of annual performance.
Following a 7% increase in CY19, it saw rises of 24.59% and 9% in CY20 and CY21, respectively. CY22 had an incredible multi-bagger return of 110 per cent, while CY23 ended with still another outstanding performance, returning 67per centt.
For the current year, there has been a 39% growth thus far. The stock hit a record high of ₹772 per share in March.
