Swan Defence and Heavy Industries Limited has informed the Exchange about Reconstitution of Risk Management Committee w.e.f. 28th May, 2026.
SWANDEF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Swan Defence and Heavy Industries Limited reported its FY2026 audited financial results showing a standalone net loss of Rs 22,751 lakhs and consolidated loss of Rs 22,591 lakhs for the year ended March 31, 2026. The company noted a one-time book loss of Rs 26,200 lakhs from the sale of 5 Offshore Support Vehicles (OSV) that were in semi-finished stage, sold for Rs 7,000 lakhs against a book value of Rs 33,200 lakhs. The Board approved raising funds up to Rs 4,000 crores through various modes including QIP, debt issue, or preferential issue. Mr. Rajesh Bhardwaj resigned as CFO effective May 27, 2026, and Mr. Jignesh Shah was appointed as the new CFO effective May 28, 2026. The Risk Management Committee was reconstituted with Mr. Jignesh Shah now included as a member.
The CFO change represents a key management transition. The company continues to face significant losses and has a large one-time asset write-down. The Rs 4,000 crore fundraising approval signals potential dilution or debt increase ahead.