Please find enclosed a copy of the Annual Secretarial Compliance Report.
SWANDEF · price
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Swan Defence and Heavy Industries has filed its Annual Secretarial Compliance Report for FY26, confirming two non-compliances during the year. First, the promoter group's shareholding was 94.91% as of December 31, 2024, breaching the Minimum Public Shareholding (MPS) rule, which led to quarterly fines from BSE and NSE and a shift to trade-for-trade (weekly) trading from January 29, 2025. The company complied by March 19, 2026 after promoter Hazel Infra sold 26.38 lakh shares via an Offer for Sale. Second, the company had no qualified Company Secretary from June 23 to December 17, 2025, attracting a penalty of Rs 1.01 lakh (inclusive of GST), which was paid and the position was filled. All previous FY25 non-compliances — including delays in financial results, annual report, ASCR, related party disclosures, Board/Audit Committee/NRC/SRC composition — have been resolved. The company remains compliant with Secretarial Standards, insider trading rules, related party transactions, and website disclosures.
Most legacy non-compliances from the insolvency resolution period have been cleared, and the MPS shortfall is now resolved via the OFS, which could help move the stock back to normal trading from the trade-for-trade segment. For shareholders, this signals improving governance under the new management, though some residual regulatory fines from the past year were absorbed by the company.