Swan Corp Limited’s Board has approved the re-appointment of Mr. Sugavanam Padmanabhan as Whole-Time Director for a term of three years, effective from September 24, 2026, subject to shareholder approval. The decision was taken at the Board meeting held on May 29, 2026. The re-appointment ensures continuity in leadership as the director brings over 50 years of experience in the Oil & Gas industry.

Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the extension for Mr. Sugavanam Padmanabhan (DIN: 03229120). He is a Chartered Accountant and former Director (Finance) of Indian Oil Corporation Limited. The appointment is contingent upon approval by shareholders at the ensuing Annual General Meeting (AGM).

The Audit Committee recommended the appointment of Mr. Narendra Vala as the Internal Auditor for the financial year 2026-27 under Section 138 of the Companies Act, 2013. Mr. Vala is a Chartered Accountant with approximately 11 years of experience in the manufacturing industry, specializing in corporate accounting, banking, and taxation.

Additionally, the Board appointed M/s. Nisha Patel & Associates as the Cost Auditor for the financial year 2026-27 in terms of Section 148 of the Companies Act, 2013. Ms. Nisha Patel, the proprietor, is a qualified Cost Accountant with over 14 years of experience auditing listed and unlisted companies.

Key Appointments

The Board meeting commenced at 3:00 PM and concluded at 5:00 PM on May 29, 2026. The disclosures were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Swan Corp Limited has fixed August 28, 2026, as the record date to determine shareholder eligibility for a dividend of Re. 0.15 per equity share for FY 2025-26. The dividend, representing 15% of the face value of Re. 1 each, is subject to the approval of shareholders at the upcoming Annual General Meeting. This announcement follows a meeting of the Board of Directors held on Friday, May 29, 2026.

The Register of Members and Share Transfer Books of the company will remain closed from Saturday, August 29, 2026, to Friday, September 4, 2026. This closure is for the purpose of the 118th AGM and to determine the entitlement of members to receive the dividend for the financial year 2025-26. The company stated that the dividend recommendation is in line with Regulations 30(6) and 43(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details

The dividend will be paid to shareholders whose names appear in the Register of Members as of the record date. The record date and book closure comply with Regulation 42 of the SEBI LODR Regulations, 2015, and Section 91 of the Companies Act, 2013, respectively.