Swan Defence and Heavy Industries Limited has informed the Exchange regarding Appointment of Chief Financial Officer of the Company w.e.f. 28th May, 2026 and the re-appointment of Internal ....
SWANDEF · price
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The company reported FY2026 results with standalone loss of Rs 2,275 crore, a significant deterioration from Rs 1,815 crore loss in FY2025. Revenue from operations jumped to Rs 2,821 crore from Rs 70 crore due to higher shipbuilding activity. A one-time book loss of Rs 2,620 crore was incurred from selling 5 offshore vessels (book value Rs 3,320 crore sold for Rs 700 crore). The CFO Mr Rajesh Bhardwaj resigned effective May 27, 2026, with Mr Jignesh Shah appointed as new CFO from May 28, 2026. The board also approved raising up to Rs 4,000 crore through various modes including QIP, debt, or preferential issues. The NCLT-approved merger with Frunoh Offshore Private Limited received shareholder approval in May 2026.
The deep losses and one-time asset sale write-down highlight ongoing financial stress despite higher revenues. The CFO transition adds to leadership instability while the massive Rs 4,000 crore fund raise plan could significantly dilute existing shareholders if pursued.