Over 2,500% in a Year: How This Shipyard Stock’s Turnaround Delivered Multibagger Returns

Lately, Indian markets have been on a downward spiral amid escalating tensions in the Middle East. On Thursday, they witnessed a bounce-back, but volatility remains high. Against this backdrop, Swan Defence and Heavy Industries has logged a double-digit gain over the past week.

Swan Defence and Heavy Industries (SDHI) has delivered exceptional returns over the past year, with the stock price surging by around 2,668 per cent, making it one of the standout performers in the markets. 

After the acquisition through the National Company Law Tribunal (NCLT) process and its entry into the Swan Energy group in January 2024, several developments helped revive the company and played a key role in its multibagger stock rally.

Swan Defence and Heavy Industries Limited (SDHI) is India’s largest shipyard, accounting for 30 per cent of the country’s shipbuilding capacity. Located on the west coast of India in Gujarat, SDHI offers a strategic advantage to domestic and international customers. The shipyard offers geographical proximity to key global trade routes and maritime hubs, as well as comprehensive multi-modal connectivity via sea, rail, air and road for inland transportation and Logistics.

Swan Defence Turnaround: Key Reasons Behind the Turnaround of the Stock

• The company emerged from the Corporate Insolvency Resolution Process (CIRP), a legal process used to revive financially stressed companies, after its resolution plan was approved in December 2022. It later came under the Swan Energy group and was rebranded as Swan Defence and Heavy Industries Limited, marking a new phase for the company.
• The mergers between Triumph Offshore Private Limited (TOPL) and Swan Defence and Heavy Industries Limited aim to consolidate the Swan Energy group’s maritime assets and support the company’s revival.
• After the acquisition through the NCLT resolution process, the company began refurbishing and restoring its existing assets to revive operations. In FY2024-25, it invested Rs 44.23 crore in Property, Plant, and Equipment as part of this modernisation drive.
• During FY2024-25, the company completed and delivered three refit orders for the Indian Coast Guard ahead of schedule, highlighting its operational capabilities in defence ship repair. The company aims to maximise capacity utilisation while focusing on expanding its shipbuilding Order Book to support future growth.

Swan Defence Order Book Highlights

• In January 2026, the company secured an order worth around Rs 1,880 crore to build six chemical tankers for Rederiet Stenersen AS, with an option to build six additional vessels.
• In February 2026, the company received an order from the Royal Navy of Oman to build a 104.25-meter training ship, further strengthening its order pipeline.

Swan Defence and Heavy Industries Limited, formerly known as Reliance Naval and Engineering Limited, is an Indian maritime company engaged in shipbuilding, ship repair, and heavy engineering. The company focuses on the Construction, repair, and refit of vessels and offshore rigs, catering to both defence and commercial maritime sectors. Over the years, it has developed capabilities in handling complex marine engineering projects, positioning itself as a participant in India’s growing defence and shipbuilding ecosystem.

Swan Defence and Heavy Industries Share Price Performance 

Swan Defence and Heavy Industries share price has delivered strong absolute returns across multiple timeframes. Over the past 1-month, the stock gained Rs 45.80, resulting in an absolute return of about 2.47 per cent. The momentum has been significantly stronger over the 6-month period, where the share price surged by Rs 1,401.40, resulting in an absolute return of around 281.07 per cent. Looking at the 1-year performance, the stock has generated exceptional gains of Rs 1,832.43, delivering an absolute return of nearly 2,711.90 per cent, As of March 5, the stock was trading at Rs 1,899.00, up Rs 30.00 or 1.60 per cent in the latest trading session.

Disclaimer: The article is for informational purposes only and not investment advice.