Swan Defence and Heavy Industries Limited has informed the Exchange regarding reconstitution of the Risk Management Committee w.e.f. 28th May, 2026.
SWANDEF · price
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Swan Defence reported a standalone loss of Rs 227.51 crore for FY2026 versus Rs 181.49 crore loss in FY2025. Revenue from operations stood at Rs 282.14 crore. The company approved raising funds up to Rs 4,000 crore via QIP, debt issues, or preferential issues subject to shareholder approval. Key management change occurred with Mr. Rajesh Bhardwaj resigning as CFO (May 27) and Mr. Jignesh Shah appointed as new CFO (May 28). The Risk Management Committee was reconstituted with Mr. Jignesh Shah now as a member. Notably, the company sold 5 offshore vessels (OSV) with book value of Rs 332 crore for Rs 70 crore, resulting in a one-time book loss of Rs 262 crore. Auditors issued an unmodified opinion on the financial results.
The company continues to burn cash with deepening losses, though the Rs 4,000 crore fundraising approval signals potential capital infusion plans. The CFO change is neutral but the OSV sale loss is already factored into results. Stock may react to loss figures and fund-raising dilution concerns.