Swan Defence and Heavy Industries Ltd Share Price – NSE

Ship Building, Small Cap

Swan Defence & Heavy Industries will hold a meeting of the Board of Directors of the Company on 27 May 2026.

Swan Defence & Heavy Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 25 May 2026.

The order is classified as Category 4, indicating a value between Rs 1,501 crore and Rs 3,000 crore.

The vessels, to be built for Energy ONE, will be among the largest ever constructed at an Indian shipyard. It will feature next-generation ammonia-based propulsion systems aligned with global decarbonisation trends.

The project reflects the company?s capability in complex shipbuilding. It also aligns with the global shift toward low-emission shipping.

The first vessel is expected to be delivered in October 2029. Subsequent deliveries will follow at four-month intervals.

Swan Defence and Heavy Industries, formerly known as Reliance Naval and Engineering, is a leading shipbuilding and heavy fabrication company in India.

The company had reported a consolidated net loss of Rs 33.11 crore in the quarter ended December 2025 as against net loss of Rs 53.35 crore during the previous quarter ended December 2024. Sales surged to Rs 5.87 crore in Q3 FY26 from Rs 1.16 crore in Q3 FY25.

Swan Defence and Heavy Industries (SDHI) has secured a Category 4 order (valued between Rs 1,500 crore to Rs 3,000 crore) from Energy ONE for the construction of four (4) 92,500 DWT dual-fuel ammonia bulk carriers - marking a first for the country.

These will be the first ammonia dual-fuel ships built in India and are also among the largest commercial vessels ever to be built at an Indian shipyard, representing a significant step forward in both technological capability and scale for the domestic shipbuilding industry. This milestone underscores SDHI's growing capability to execute complex, next-generation shipbuilding programs aligned with the global transition toward lower-emission shipping.

Measuring 229.5m in length with a beam of 37m, each of the dual-fuel vessels will be equipped with ammonia-fuelled propulsion system. The vessels will be designed by KMS-EMEC, South Korea and classed by Det Norske Veritas (DNV) - one of the leading Class societies in the world.

Commenting on the development, Vivek Merchant, Director, Swan Defence and Heavy Industries (SDHI), said, ?Winning this project is an important step forward for us. It reflects the confidence global stakeholders are placing in Indian shipbuilding, and in the capabilities, we have developed at Pipavav. Ammonia as a marine fuel is still at an early stage, and we are proud to be part of that transition - building vessels that are not just relevant for today but aligned with where the industry is heading.?

The first vessel is expected to be delivered in October 2029, with subsequent deliveries scheduled at four-month intervals.