Swan Defence and Heavy Industries Limited has informed the Exchange regarding 'Corporate Action - Fixes Book Closure Date for Annual General Meeting'.
SWANDEF · price
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Swan Defence and Heavy Industries Limited reported audited financial results for Q4 and FY 2026. The company posted a standalone loss of Rs. 22,750.97 lakhs for FY 2026, significantly higher than the previous year's loss of Rs. 18,149.30 lakhs. Revenue from operations was Rs. 28,213.87 lakhs for the year. A one-time book loss of Rs. 26,200 lakhs was incurred from selling 5 Offshore Support Vehicles (book value Rs. 33,200 lakhs sold for Rs. 7,000 lakhs). The board approved fund raising of up to Rs. 4,000 crores through various modes including QIP, rights issue, and preferential issue. The 29th AGM is scheduled for September 2, 2026 with book closure from August 27 to September 2, 2026. CFO change occurred with resignation of Rajesh Bhardwaj and appointment of Jignesh Shah effective May 28, 2026.
The company continues to face severe financial distress with widening losses and a massive one-time asset write-down. The proposed Rs. 4,000 crore fund raise poses significant equity dilution risk for existing shareholders. The high debt levels and ongoing resolution plan payments remain major concerns.