Swan Energy share price surged 8% on September 26, fueled by a significant increase in trading volume. Over 71 lakh shares were traded across BSE and NSE, substantially higher than the one-month average of 13 lakh shares, marking a notable uptick in investor interest.
By mid-afternoon, shares of Swan Energy were trading up by 4.7% at Rs 594.25 on the NSE. Despite a modest annual gain of 16% so far, the stock has outperformed with a 100% increase over the past year, doubling investors’ capital amidst a general market rise of 18%.
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The company recently announced its intention to sell its stake in a floating LNG terminal to Turkey’s state-run Botas for $399 million. The deal, involving the terminal known as Vasant 1, is expected to close within the next six months, pending necessary shareholder and regulatory approvals.
Vasant 1, a floating storage and regasification unit with a 180,000 cubic metres capacity, is owned 51% by Swan Energy through its subsidiary, Triumph Offshore Pvt., with the remaining 49% held by IFFCO. It remains uncertain if IFFCO will also sell its share.
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Originally planned to start during the 2019-2020 period at Jafrabad port, the terminal’s commissioning has been delayed by construction issues, the COVID-19 pandemic, and a cyclone in 2022. Despite these setbacks, the FSRU was delivered by Hyundai Heavy Industries Shipyard in September 2020 and has been chartered to Botas since January 2023.
Reflecting a positive financial outlook, Swan Energy Ltd. reported an 85% increase in net profit for the first quarter of the financial year 2025, achieving Rs 267.7 crore compared to Rs 144.8 crore in the same quarter the previous year. This growth underscores the company’s robust performance amidst shifting global energy dynamics.
