Flash Focus: Fast Facts For Smart Investors
In a significant development, BlackRock, the world's largest asset manager, acquired a stake in the company on July, 2024 through block deals. The shares were purchased at Rs.668.27 per share. Photo: The Economic Times.
Meanwhile, According to a report published in The Economic Times, Swan Energy Ltd is planning to sell its stake in a floating LNG terminal to Turkey's state-run company Botas for $399 million. Using today's exchange rate of 1 USD = Rs.83.63 the sale amount is approximately Rs.33,366 million.
The deal, which involves Swan's 51% stake in the floating storage and regasification unit (Vasant 1), is expected to be completed within next six months, subject to approval from shareholders and regulators .
Shareholding Pattern: As per the latest shareholding pattern, the FIIs have raised their stakes from 11.16% to 11.84%.
The DIIs have also increased their stakes from 14.33% to 14.81%
On the other hand the Public shareholding has come down from 20.53% to 19.37%.
Financials: Swan Energy Ltd.’s net profit surged by 85% in the first quarter of the current financial year. The petrochemical company reported a profit of Rs.267.7 crore for the quarter ending in June, compared to Rs.144.8 crore in the same quarter of the previous fiscal year.
Revenue grew by 42% year-on-year, reaching Rs.1,141.7 crore for the three months ending in June, compared to Rs.804.3 crore during the same period of the fiscal year ending in March 2024.
Operating income increased by 60% year-on-year to Rs.380.9 crore, while the EBITDA margin widened to 33.4%, up from 29.5% in the previous year’s corresponding period.
Company Profile: Swan Energy Limited (SEL) was originally incorporated as Swan Mills Ltd. (SML), a manufacturer and marketer of cotton and polyester textile products in India in 1909. Today, the Swan Group is one of India's prominent private sector conglomerates, with over a century of service spanning the textile, real estate, and oil & gas industries.
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