February 16, 2024

BSE Limited The National Stock Exchange of India Limited

Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot No. C/1, G
Dalal Street Block, Bandra Kurla Complex, Bandra East,
Mumbai 400 001 Mumbai 400 051
Scrip Code: 503310 NSE Symbol: SWANENERGY

Subject: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015

In terms of Regulation 30 and other applicable provisions of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, please see enclosed
copy of the corporate presentation. Furthermore, the corporate presentation of the Company is also
disseminated on the website of the Company at www.swan.co.in.

Yours faithfully,

For Swan Energy Limited

ARUN Digitally signed by
ARUN SATYANARAIN
SATYANARAI AGARWAL
Date: 2024.02.16
N AGARWAL 19:40:06 +05'30'
Arun S. Agarwal
Company Secretary
 SWAN ENERGY LIMITED
Corporate Presentation

February 2024
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Disclaimer (2/2)
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Table of Contents
Section Slide No.

Company Overview 1

Business Segments

- Oil & Gas 7

- Defense & Shipyard 8

- Petrochemical Manufacturing & Trading 11

- Real Estate 12

- Textile 13

Key Financial Metrics 14

Appendix 17
 Company Overview
• Incorporated in 1909 as textile company • Headquarters at Mumbai, India

• Business turnaround & discharged from BIFR in 1995 • Consolidated Revenue for the FY 23 is INR 1,438.14 Cr
by present promoters; land monetized for developing
real estate projects
• Recently ventured into Defence & Shipyard and Petrochemical
• Diversified business interest in Oil & Gas, Real Estate &
Manufacturing & Trading businesses through acquisition of
Textile
Reliance Naval & Engineering Limited and Veritas India Limited

OIL & GAS DEFENCE & SHIPYARD PETROCHEMICALS REAL ESTATE TEXTILE

•One of India’s first FSRU •Drumming, Distillation, •Prominent player in

•Largest shipbuilding capacity •Residential
based LNG import port Storage textile business
in India •Commercial
•LNG regasification •Blending, Throughput •Long Term reputation in
•Shipbuilding, Heavy •Land Bank across Tamil
capacity of 5MMTA. •CMA domestic and
Engineering, Ship Repairing, Nadu, Karnataka, international market
Green Ship Breaking •Lab Accreditation Maharashtra

01
Journey So Far…

Incorporated in 1909 & was taken Mill got monetized for Real
1992 over by the present Management 2004 Estate Development.
from BIFR

Forayed into the green energy

2008
sector by change of name

Forayed into the oil and gas sector -

beginning work on setting up an FSRU- 2012
based LNG terminal at Jafrabad, Gujarat

One of Oil & gas SPV places an order

for a 180,000 cubic meter capacity 2017
Ventured into petrochemical
FSRU with Hyundai Heavy Industries • Bid for Reliance Naval through 2023 manufacturing & trading
NCLT process. through acquisition
2022 • Launch of Luxury Residential
project in Bangalore

02
 Swan Group & Business Structure

SWAN ENERGY
Textile
LIMITED (SEL)

Veritas (India) Pegasus Ventures Cardinal Energy & Hazel Infra Limited Swan LNG Private Triumph Offshore
Limited Private Limited Infrastructure Pvt Ltd. Limited Private Limited

(55.01%) (100%) (100%) (74%) (63%) (51%)

Real Estate Reliance Naval & LNG port facility Ownership &
Engineering Ltd. Leasing of FSRU

(94.91%)**

Verasco FZE Veritas International Veritas Polychem

FZE Dubai Private Limited*
Defense & Shipyard
(100%) (100%) (100%) Private

Chemical/ Global chemical Manufacturing PVC, Listed

Petrochemical trading PMB, VCM storage &
Terminal at Hamriyah LPG bottling in Dighi Business
Free Zone. Port

*Business is under implementation; **Allotment under process (For details of other SEL subsidiaries & step-down subsidiaries, kindly refer to “Appendix” section)
03
Shareholding Pattern
(As on 31st Dec, 2023) (As on 31st Dec, 2023)
Swan Energy Limited Veritas (India) Ltd

44.99%

35.91%
55.01%

64.09%

Swan Enery Limited Public

(Allotment under process)

Reliance Naval and Engineering Ltd

Promoter and Promoter Group Public 5.09%

94.91%
Key Institutional Investors:

• LIC • Eos Multi Strategy Fund

• SBI Life Insurance • Samco Active Momentum
• Quant Mutual Fund • Barclays Wealth
• Societe Generale • BNP Paribas Hazel Infra Limited Public
04
Group Management

Mr. Navinbhai C. Dave Mr. Nikhil V. Merchant Mr. Paresh V. Merchant

(Chairman / Non-executive (Managing Director - SEL) (Executive Director - SEL)
Director – SEL)

A seasoned entrepreneur with an Has completed his B.S. in textile engineering With more than 3 decades of experience in
experience of more than 60 years in from U.S.A and his M.E.P degree from IIM the textile, real estate, oil and gas sectors,
various areas of real estate & textiles. Ahmedabad, has a total experience of more He is responsible for company operations
than 35 years in all functional areas of and strategies. He has an educational
textile, real estate, oil & gas sectors. background in finance and has completed
his M.E.P from IIM Ahmedabad.

Mr. Vivek Merchant Mr. Bhavik Merchant Mrs. Vinita Patel

Having completed his Engineering from the He has economics degree from the A chartered accountant herself with a flair
University of Michigan, Ann Arbor, Vivek is University of California, Los Angeles (UCLA). for multitasking, She is involved in handling
involved in ongoing and day-to-day He directs and focuses on managing and the day-to-day operations of the port
operations of the group. He is holding overseeing the day-to-day operations of the business of the group. She is holding
directorships in various group companies. group. He is holding directorships in various directorships in various group companies.
group companies.

05
BUSINESS SEGMENTS
1. Oil & Gas
Swan LNG Pvt. Ltd. & Triumph Offshore Pvt. Ltd.
(63%) (51%)
Jafraba
d
Phase I - The LNG project is being implemented by two SPVs: Jafrabad

• Swan LNG - Developing Port Facilities

• Triumph Offshore - Built new FSRU with 180k m3 storage and 1000 MMSCFD send-out

• In Phase I : LNG regasification capacity up to • We are implementing a Greenfield LNG

5 MMTPA of LNG at Jafrabad in Amreli Terminal utilizing a Floating Storage &
District, Gujarat which is under final stage of Regasification Unit (“FSRU”)
completion.
• Currently Services of the FSRU are utilised
• Entered into Concession Agreement with by outside parties and will be utilized for
GMB for 30 (+20) years Swan LNG post completion of port
construction.
• Binding regasification Agreements for 20
years executed with India’s Leading PSUs on • Equity Partners : IFFCO (49%)
Use-or-Pay basis.

• Equity Partners : Gujarat Maritime Board

(15%), Gujarat State Petronet (11%) , Mitsui
OSK Lines (11%)
07
2. Defense & Shipyard (1/3)
Reliance Naval & Engineering Ltd. (94.91% through Hazel Infra)

Company Offerings
Repairs & Upgradation Naval Shipbuilding
Business structure Location advantage
Commercial Shipbuilding Heavy Engineering
Swan Energy’s stake in the SPV (Hazel
Infra Limited) is 74%; further SPV Pipavav, Gujarat and has
acquired 95% stake in Reliance connectivity to rail, road, sea & air
Naval Current Inventory of Ships
AVERAGE
CLIENT ORDER DESCRIPTION PERCENTAGE OF
COMPLETION

Design and Construction of five

ONGC 5 90%
Offshore Vessels (OSV’s)
Track record Facilities Design and construction of three
Indian Navy 2 83%
Naval Offshore Patrol Vessels (NOPV)
• Drydock, goliath cranes, operates
the only Indian modular Design and construction
Delivered large size ships such as Coast Guard 1 80%
of a training ship
Panamax Bulk carrier to Indian & shipbuilding facility.
Global clients Design and construction of three
• Can accommodate vessels up to Indian Navy 3
Naval Offshore Patrol Vessels (NOPV)
50%
400,000 DWT

08
2. Defense & Shipyard (2/3)
Green Ship Recycling
Recent EU regulations force European shipowners to scrap their old ships in
European-certified facilities. So, now, there is an urgent demand for compliant
recycling capacity, in order to avoid heavy fines and sanctions.

The Panamax-sized Problem:

There are few suitable locations for a Panamax-size scrapping facilities in the EU,
and this is where RNEL’s sprawling recycling yard can help.
13
6

PANAMAX (1980-) 5
250x32x
3,000 - 3,400 TEU
12.5 8

PANAMAX MAX (1985-) 290x32x 6

3,400 - 4,500 TEU

Our Recycling Yard’s Main Features Products Derived from Ship-breaking

•Ample surplus land,

• Furniture
degutting of blocks and
storage of material • Used engines
• Ferrous metal
• Can recycle Panamax and
• Non-ferrous
larger ships on dry dock
metal

9
2. Defense & Shipyard (3/3)
Ship Repair Business
• RNEL has a fully-developed offshore yard measuring 750 m x 265 m, which is capable of
fabrication, erection, and loading out of offshore structures. This will soon expect a business
boom due to ONGC’s offshore expansion plan.

• The RNEL yard can support 50% of the estimated cost of the well and process platform projects
by undertaking fabrication activities. In addition to the above, PSU’s 6 rigs require repairs on
periodic basis.

• The yard has dry dock which facilitates quick turn around of the repair works saving significant
time and cost to the rig owners.

PROCESS PLATFORMS

WELL PLATFORMS JACK-UP DRILLING RIGS

10
3. Petrochemicals Manufacturing & Trading

Veritas India Limited (VIL) (55%)

• Corporate headquarters at • 28 years in operations driven by • Trade, distribution & • Caters to petrochemical, paint,
Mumbai, India experienced team members manufacturing of commodities and oil refining industries.
like, Chemicals &
Petrochemicals .etc.
• Multi-faceted Organization • Offices and stock-points across
with diversified business • Globally integrated systems, • State-of-the-art logistics India and the Globe through
interests and dimensions processes, governance infrastructure across the globe subsidiaries

Veritas Polychem Pvt. Ltd. Verasco FZE

(100% subsidiary of VIL) (100% subsidiary of VIL)

• Integrated industrial complex- Dighi Port,~60 acres land, • Terminal located in Hamriyah, UAE is a first-of-its-kind facility

substantial sea-front • 30 tanks ~172k m3 capacity Store all classes of petroleum products,

• EC, CRZ & MPCB clearances received crude oil & chemicals

• Ultra-Mega project status from Maharashtra govt • Integrated facility offering drumming, blending and distillation services
• Unit is Operational
(For details of other VIL subsidiaries & step-down subsidiaries, kindly refer to “Appendix” section)

11
4. Real Estate
• Engaged in development of real estate projects.
• Execution track record ~26.16 lakhs sq,ft. commercial & residential projects in
Mumbai, Bangalore & Hyderabad.

TOTAL
COMPANY AREA
PROPERTY LOCATION STATUS
NAME ~(‘000 IN
SQ FT)

Swan Energy Kurla IT Park 1,000 Mumbai Completed & Delivered

Swan Energy Ashok Gardens 840 Mumbai Completed & Delivered

Leased to Harman
Cardinal
Sai Tech Park 296 Bangalore Connected Services
Infrastructure
Corporation
Cardinal Leased to Google
Infrastructure Technova 292 Hyderabad Connected Services
India
Cardinal Construction in
Infrastructure Cardinal One 188 Bangalore Progress and partially
sold

12
5. Textile

LEGACY OF MORE THAN 100 YRS

We have a legacy of over a 100 years in the Textile Industry and has been a household name
for decades as its products catered to the needs of men, women and children. We manufacture
various products from dress materials to suiting and shirting materials.

TEXTILE UNIT 2010

In 2010, we commenced textile processing unit in Ahmedabad, Gujarat, with the
vision to leverage its successful brand image to cater to the booming demand from
the garment sector.

1LAKH METRES PER DAY

The plant has an installed production capacity of 1 Lakh meters per day.

HIGH END FACILITY

This facility comprises of imported continuous processing machines like singeing
/desizing, continuous scouring and bleaching ranges, etc.

13
KEY FINANCIAL
METRICS
Key Financial Metrics (1/2) (Amount in INR Crores)

Total Income 3,693 EBITDA

824
CAGR@ 141% CAGR@ 143%

1,449
242
494
324 72 75

FY21 FY22 FY23 9M-FY24 FY21 FY22 FY23 9M-FY24

EBITDA and EBITDA Margin EBIT and EBIT Margin

22% 22% 20%
15% 17%
824 743

11%
9%
242 1%
72 75
30 5 161
FY21 FY22 FY23 9M-FY24 FY21 FY22 FY23 9M-FY24
EBITDA EBITDA Margin EBIT EBIT Margin
*6M-FY24 data not annualized
15
Key Financial Metrics (2/2)
SEGMENT-WISE REVENUE SEGMENT-WISE ASSETS
CONTRIBUTION ALLOCATION*
100% 4%
90% 23% 25% 3% 2%
80%
11%
70% 11% 55%
21%
60% 72% 45%
25%
50%
23%
40% 10%
66% 14%
30%
14% 4%
20%
35%
10% 16%
17%
0% 4% Textile Energy
FY2021 FY2022 FY2023 9M23
Construction/Others Distribution & Development
Textile Energy
Warehousing Manufacturing
Construction/Others Distribution & Development
Warehousing
*as on 31st Dec 2023.

16
APPENDIX
Consolidated Financial Statement (1/2)
(In INR Lakhs)
Audited Audited Audited Unaudited
Years
FY21 FY22 FY23 9M-FY24

Income Statement
Sales 32,047 48,720 1,43,814 3,61,924
Other Income 394 689 1,077 7,378
Total Income 32,441 49,409 1,44,891 3,69,302
Income Growth (YoY) (7.24%) 52.30% 193.25% 622.03%

COGS 18,057 32,523 1,06,756 2,75,003

Employment related expenses 1,809 2,515 3,162 2,631
Other expense 5,410 6,852 10,782 9,274
EBITDA 7,165 7,519 24,191 82,393
EBITDA Margin 22.09% 15.22% 16.70% 22.31%

Depreciation and Amortization 4,166 7,027 8,135 8,104

EBIT 2,999 492 16,056 74,288
EBIT Margin 9.24% 1.00% 11.08% 20.12%

Financial Cost 10,804 18,915 22,280 17,329

EBT (7,805) (18,423) (6,224) 56,960
EBT Margin (24.06%) (37.29%) (4.30%) 15.42%

Tax (944) (2,634) (119) 3,922

PAT Profit/(Loss) (6,861) (15,789) (6,105) 53,038
PAT Margin (21.15%) (31.96%) (4.21%) 14.36%

18
Consolidated Financial Statement (2/2)
(In INR Lakhs)
Audited Audited Audited
Years
FY21 FY22 FY23

Balance Sheet
Equity Share Capital 2,443 2,639 2,639
Reserves 84,985 1,21,893 2,25,729
Total Shareholder Equity 87,428 1,24,532 2,28,368

Borrowings 3,07,689 4,11,673 4,98,498

Other Liabilities 98,493 1,03,526 2,95,612
Total Liabilities 4,06,182 5,15,199 7,94,110

Total Equity and Liabilities 4,93,610 6,39,731 10,22,478

Fixed Assets (Net Block) 2,28,248 2,23,753 4,22,522

Capital Work in Progress 1,92,729 2,38,903 3,25,292
Investments 57 293 2,998
Other Assets 44,175 42,856 46,881
Total Non-Current Assets 4,65,209 5,05,805 7,97,693

Receivables 2,867 21,376 1,78,560

Inventory 14,472 17,144 26,057
Cash & Bank 11,062 95,406 20,168
Total Current Assets 28,401 1,33,926 2,24,785

Total Assets 4,93,610 6,39,731 10,22,478

19
Segment-Wise Performance
(In INR Lakhs)
Audited Audited Audited Unaudited
Particulars
FY21 FY22 FY23 9M-FY24
Revenue
Textile 21,475 17,076 24,485 16,222
Energy 3,490 5,152 19,885 56,744
Construction/Others 7,476 27,182 33,545 12,960
Distribution & Development - - 29,864 2,60,362
Warehousing - - 36,034 15,623
Manufacturing - - - -
Power Generation - - - 14
Total Revenue 32,441 49,410 1,43,814 3,61,924

Earnings Before Interest and Tax

Textile 492 435 2,133 2,377
Energy (1,564) (4,415) 7,728 52,877
Construction/Others 4,071 4,472 2,929 640
Distribution & Development - - 1,302 2,678
Warehousing - - 2,299 15,716
Manufacturing - - - -
Power Generation - - - (75)
Total Segment Results 2,999 492 16,392 74,213
Less: Interest - 18,915 22,380 17,329
Less: Others un allocable exp - - 336 (75)
Total Profit Before Tax 2,999 (18,423) (6,224) 56,960

20
Segment-Wise Position
(In INR Lakhs)
Audited Audited Audited Unaudited
Particulars
FY21 FY22 FY23 9M-FY24
Assets
Textile 15,508 17,920 18,028 19,826
Energy 3,72,944 4,93,811 4,62,365 4,98,553
Construction/Others 1,03,926 1,23,462 1,26,422 1,58,440
Distribution & Development - - 2,02,034 2,69,626
Warehousing - - 2,09,023 1,20,763
Manufacturing - - (51) 36,299
Power Generation - - 134 -
Unallocable - - 4,524 2,180
Total Assets 4,92,379 6,35,193 10,22,478 11,05,687
Liabilities
Textile 8,285 8,995 9,338 3,463
Energy 2,22,072 3,60,427 3,37,491 3,32,793
Construction/Others 1,23,485 1,00,468 1,20,385 1,59,787
Distribution & Development - - 33,569 1,02,967
Warehousing - - 1,44,518 67,176
Manufacturing - - 3,657 4,206
Power Generation - - 2 -
Unallocable - - 11 -
Total Liabilities 3,53,842 4,69,889 6,48,971 6,70,392

21
Details of Other Subsidiaries - SEL & VIL
Swan Energy Limited

Domestic Subsidiaries International Subsidiaries

Name Ownership Name Ownership Origin
Swan Mills Private Limited 100% Wilson Corporation FZE 100% Dubai, UAE

Veritas (India) Limited

Domestic Subsidiaries International Subsidiaries

Name Ownership Name Ownership Origin
Veritas Infra & Logistics Pvt. Ltd. 100% Veritas International FZE 100% Dubai, UAE
Veritas Agro Ventures Pvt. Ltd. 100% Verasco FZE 100% Sharjah UAE
Veritas Polychem Pvt. Ltd. 100% Veritas Global PTE Limited 100% Singapore
(Subsidiary of Veritas International FZE)

22
Abbreviations
Abbreviation Meaning

BBC Bareboat Charter

BIFR Board for Industrial and Financial Reconstruction
CMA Calcium Magnesium Acetate
CRZ Coastal Regulation Zones
DWT Deadweight tonnage
EC Environmental Clearance
FSRU Floating Storage Regasification Unit
FSU Floating Storage Unit
Ha Hectare
LNG Liquefied Natural Gas
LPG Liquefied petroleum gas
M3 Cubic Meter
MMSCFD Million Standard Cubic Feet Per Day
MMTA/MMTPA Million Metric Tonne Per Annum
MPCB Maharashtra Pollution Control Board
NOSV Naval Offshore Vessel
O&M Operation & Management
OSV Offshore Vessels
SBC Ship Building Contract
SPV Special Purpose Vehicle
TEU Twenty-Foot Equivalent Unit

23
 Address:
Swan Energy Limited

Thank You 6 Feltham House,

10, J N Heredia Marg,
Ballard Estate, Mumbai,
Maharashtra, 400001

Website:
www.swan.co.in

Contact Details :
Tel: 022-40587300
Email: [email protected]