New Swan Multitech Ltd

Business Overview

• Diversified engineering platform serving automotive components and Swan Agro farming equipment.
• Two manufacturing facilities in Punjab and Gujarat; pan-India presence in 19 states.
• FY26 PAT ₹9.6 Cr; net worth ₹88.4 Cr; revenue ₹177.2 Cr.
• Automotive components and Swan Agro form two engine pillars for growth.

Operational Highlights

• FY27 growth strategy focuses on dealer expansion, capacity utilization, and OEM relationships.
• Gujarat plant ~80% and Punjab plant ~60% capacity utilization; headroom for scale.
• Vithlapur plant expansion and other sites planned to support growth.
• Exports to Russia and Cameroon; selective international expansion planned.
• New HMSI motorcycle line at NSMLV; potential higher component demand.
• 250+ dealers; 300+ SKUs; pan-India distribution.
• FY26 revenue growth 10.9% YoY.

Financial Performance

• FY26 revenue 177.2 Cr; YoY growth 10.9%; EBITDA 22.1 Cr; PAT 9.6 Cr.
• EBITDA margin 12.4%; ROE 11.3% in FY26.
• PAT declined 16.8% YoY to ₹9.6 Cr despite revenue growth.
• CFO negative ₹19.6 Cr due to seasonal inventory build; normalization expected.
• Inventory ₹77.8 Cr; average inventory days ~125; normalized 55-60 days.

Capital Structure & Liquidity

• Debt profile: gross ₹37.3 Cr; net debt ₹35.2 Cr; cash ₹2.1 Cr.
• Cost of debt ~11%.
• Deleveraging plan: target D/E below 0.50x; strengthen balance sheet via internal accruals.
• Inventory build temporarily affected cash flow; cash flow expected to improve as inventories normalize.

Strategic Priorities & Outlook

• FY26 as a margin-transition year; management expects margin recovery in FY27 and beyond.
• Recovery levers: better procurement, more OEM orders, operating leverage, higher capacity utilization.
• Lowering cost through product mix shift, lean operations, and capex-driven scale.
• Exports selectively expanding opportunities; potential international market growth.

Risks & Mitigation

• Rising input costs and mix shift to lower-margin products pressure margins.
• Mitigations: stronger vendor negotiations, backward integration, higher-margin product mix.
• Capacity ramp-up costs and one-time expenses; margin improvement expected as expansion stabilizes.

Governance & Leadership

• Leadership team includes Upkar Singh Ahuja (MD), Kanwardeep Singh (Technical Director), Barunpreet Singh (Executive Director).

Cancellation details

• Original date: 21 August 2026 at 11:30 IST.
• Meeting cancelled due to unavoidable reasons.

Meeting Details

• Date: 21 August 2026; Time: 11:30 AM IST; Location: not disclosed.

Key Agenda Items

• Interim dividend on equity shares for FY 2026-27 to be considered.

Other Notes

• Trading window closure period not specified.

Dematerialisation status

• No dematerialisation/rematerialisation requests were received in the reporting quarter.
• Regulation 74(5) not applicable; entire holding is in demat form.