Swastika Infra Ltd

Price story A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). The phase helps read everything below.

Swastika Infra Ltd's share price was ₹234 at the close on 16 October 2026. That is 11.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹200 and ₹234, and today it sits 100% of the way up from that low.

There is not enough history yet to compare it with the NIFTY 500.

Over the last 0 months the share price moved +12% while the NIFTY 500 moved +2%, so it is ahead of the index over that whole period. The chart below shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Valuation P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Swastika Infra Ltd's P/E is 19.3×, with too little history to compare. Its usual P/E (the middle reading) is 17.5×, over 0.0 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

Business trend Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Swastika Infra Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend.

Why it matters: with too little history, we say so rather than guess a direction.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Revenue Revenue is everything the company billed its customers in the period.

Swastika Infra Ltd's latest quarterly revenue is not on file. Over 4 years it has grown 70.9% a year on average. The last full year, FY26, came in at ₹503 Cr.

FY26 revenue was ₹503 Cr, +43.3% on the year before.

Operating margin Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

We do not have a clean operating margin for Swastika Infra Ltd. Its accounts do not report the operating-profit line this section uses, which is common for lenders and holding companies. The other sections show what its filings do report.

Why: the operating margin move is clear, but the cost details behind it are not in our data, so we show the move without guessing the reason.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Net profit Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Swastika Infra Ltd's latest quarterly profit is not on file. Full-year FY26 profit was ₹41.0 Cr. Over 4 years profit has grown 92.3% a year on average.

For the full year, FY26 profit was ₹41.0 Cr (+51.9% on the year before).

Cash flow The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Over the last 3 years Swastika Infra Ltd's operations used more cash than they brought in, so cash conversion was −112%, a gap worth watching. In FY26 its operations used ₹10.0 Cr of cash, against ₹41.0 Cr of profit. After ₹6.0 Cr of spending on assets, free cash was ₹−16.0 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

🚨 Why −112% of profit came in as cash: the cash cycle got 153 days shorter between FY22 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 3.5× depreciation over three years. The next section checks what that spending is building.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Swastika Infra Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 83 days in FY26, down from 236 days in FY22. It spent ₹7.0 Cr on assets over the last 3 years.

At FY26 sales of ₹503 Cr, each day of that cycle ties up about ₹1.4 Cr, so roughly ₹114 Cr is tied up in the business at any time.

Spending on assets: ₹7.0 Cr over the last 3 years, against ₹2.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Swastika Infra Ltd earned a ROCE of 31% in FY26. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 8.2% net margin and 1.22× asset turnover (sales divided by assets).

Why the return is what it is (FY26): a 8.2% net margin × 1.22× asset turnover × 2.62× leverage (assets divided by equity) ≈ 26.2% on equity. The margin does its share; borrowing is a big part of it.

Debt Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Swastika Infra Ltd had ₹115 Cr of borrowings against ₹157 Cr of equity in FY26, so its debt is 0.73× its equity. Its operating profit is 4 times its interest bill. Over 4 years borrowings went from ₹36.0 Cr to ₹115 Cr. Over the last 3 of those years it spent ₹7.0 Cr on assets.

Part of the spending on assets is being paid for with borrowed money.

Ownership Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

No group of Swastika Infra Ltd's owners changed its stake by a full percentage point over the last two years. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Balance-sheet safety The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

For Swastika Infra Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

Frequently asked questions