New Swan Multitech is a farm-machinery manufacturer that grew from making parts into building complete agricultural machines under its own SWAN AGRO brand. Founded in 2009 by a group with three decades of industrial experience and led by the man who first developed PVC-coated components in India through a Japanese venture, the company now exports a wide catalogue of equipment across Europe, the Middle East, Asia and Africa from its plants in Punjab, Gujarat and Delhi. Its approach has been consistent: start with components, master precision manufacturing, then expand into finished machines that farmers and overseas buyers can rely on - and back every sale with spares and service. # Business segments A single engine - farm machinery and auto components manufactured under one roof and sold to agricultural buyers across India and export markets - where every product line draws on the same plants, the same engineering skills and the same direct-sales model. ## 1. SWAN AGRO farm machinery: a full-line agricultural equipment maker with an export backbone **The company designs, builds and ships a broad range of tractor-drawn and self-propelled farm machines - from tillage to harvesting - and sells them directly to customers on four continents, with parts and service following every sale.** - **Twenty-plus machine types under one brand** - the catalogue spans Rotary Tillers, Disc Ploughs, Disc Harrows, Potato Planters, Potato Diggers, Potato Harvesters, Roto Seeders, Seed Drills, Zero Tills, Mulchers, Reapers & Binders, Straw Reapers, Sub Soilers, Post Hole Diggers, Trailers, Fertilizer Spreaders, Rotary Slashers, Balers and Combine Harvesters, so a farmer can source most of his mechanised equipment from a single supplier. - **Built on a components heritage** - the company began with farm machinery parts and later graduated to full machine production, which means it still makes sheet-metal components, assemblies, fine-blanked parts and PVC-coated and dip-moulded components in-house rather than buying them all from vendors. - **Exports are wired into the model** - strong business relationships with companies in Europe, the Middle East, Asia and parts of Africa are supported by a transport network that the company describes as “always ready for all the continents of the world,” making exports a core revenue stream rather than an afterthought. - **Spares and after-sales service from day one** - since commercial production began in 2014, every machine sold has been backed by spare-parts supply and after-sales support, which locks in repeat orders and builds dealer confidence in markets where downtime during planting or harvest is costly. - **Two revenue streams under one NIC roof** - by regulatory classification, about 72% of turnover comes from manufacturing parts and accessories for motor vehicles and roughly 28% from manufacturing motor vehicles and semi-trailers, reflecting the mix of component sales and complete-machine sales that the single plant produces. # Group structure and partners **The company stands alone - no subsidiaries, no associates - but draws on a family of four sister firms within the New Swan Group that share industrial DNA.** - New Swan Multitech has no holding company, no subsidiary and no associate company, so its financial and operational decisions are entirely contained within one listed entity. - The wider New Swan Group includes New Swan Autocomp Private Limited, New Swan Components Private Limited, New Swan Techfab Private Limited and Newswan Technologies Limited - all separate legal entities that operate alongside NSML under common promoter oversight. - The promoter group holds 73.62% of the company’s equity, with Managing Director Upkar Singh personally holding roughly 14 million of the 19 million shares outstanding, giving him effective control and aligning his interests tightly with the company’s performance. - The company raised fresh equity through an IPO of about 5 million shares at ₹66 apiece during FY24, bringing in public shareholders while the promoter stake remained dominant.