Swan Defence and Heavy Industries Limited has issued a postal ballot notice to shareholders for the appointment of Mr. Jayaramakrishnan Kannan as Non-Executive Independent Director. The company announced the e-voting process under Regulation 30 of SEBI Listing Regulations on April 16, 2026, and subsequently submitted newspaper advertisement copies to stock exchanges on April 17, 2026.

E-Voting Schedule and Process

The remote e-voting facility will be available to shareholders through KFin Technologies Limited from April 20, 2026 at 9:00 AM IST to May 19, 2026 at 5:00 PM IST. The company has appointed CS Jignesh M. Pandya as the scrutinizer for conducting the postal ballot process.

Director Appointment Details

The postal ballot seeks shareholder approval for appointing Mr. Jayaramakrishnan Kannan (DIN: 06551104) as Non-Executive Independent Director. He was initially appointed as Additional Director on March 31, 2026, subject to shareholder approval.

Professional Background

Mr. Kannan brings extensive experience from the Information Technology industry, with around 40 years of professional experience including over 30 years with Tata Consultancy Services (TCS). During his tenure at TCS, he held various leadership positions including Vice President – Global Alliances and Regional Manager in Maryland, USA. His expertise encompasses:

• Strategic alliances and business development
• Client relationship management with global clients like American Express, Time Warner, Target, and Nasdaq
• Technology consulting and corporate strategy
• Corporate governance and board advisory roles

Current Directorships

Mr. Kannan currently serves as director in multiple listed public companies including Swan Corp Limited, Jain Resource Recycling Limited, Veritas (India) Limited, and Methodhub Software Limited. He also holds committee positions across these companies, serving as Chairman of Corporate Social Responsibility Committee at Jain Resource Recycling Limited and Audit Committee at Methodhub Software Limited.

Regulatory Compliance and Documentation

On April 17, 2026, the company submitted copies of newspaper advertisements published in Financial Express (English and Gujarati editions) to BSE Limited and National Stock Exchange of India Limited. The submission was made through Company Secretary Priti P. Dave under reference number SDHI/SE/07/2026-27.

The postal ballot notice has been sent electronically to shareholders whose email addresses are registered with the company or depositories as on the cut-off date of April 10, 2026. Only shareholders holding shares as on this date are eligible to vote. The company is conducting the postal ballot in compliance with the Companies Act, 2013, SEBI Listing Regulations, and relevant MCA circulars, with voting available only through electronic mode.

Swan Defence & Heavy Industries Limited has officially announced under Regulation 30 of SEBI regulations that it has secured a landmark Category 4 order from Energy ONE Limited for the construction of four 92,500 DWT dual-fuel ammonia bulk carriers. This historic contract, valued between Rs 1,501-3,000 crore, marks India's first foray into ammonia-powered commercial shipping and represents a significant technological advancement for the domestic maritime industry.

Official Order Announcement

The company filed the formal announcement on April 7, 2026, confirming that these vessels will be the first ammonia dual-fuel ships built in India and are among the largest commercial vessels ever constructed at an Indian shipyard. The contract represents a significant step forward in both technological capability and scale for the domestic shipbuilding industry.

Delivery Timeline and Regulatory Compliance

The execution timeline stipulates that the first vessel is expected to be delivered in October 2029, with subsequent deliveries scheduled at four-month intervals. Each dual-fuel vessel will be equipped with ammonia-fuelled propulsion systems, representing cutting-edge marine technology aligned with global decarbonization efforts.

The company has confirmed that neither the promoter, promoter group, nor any of the group companies have any interest in Energy ONE Limited. Additionally, the contract does not fall under related party transactions, ensuring full regulatory compliance.

Strategic Significance and Management Perspective

Vivek Merchant, Director at Swan Defence and Heavy Industries Limited, emphasized the strategic importance of this contract: "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."

About Energy ONE Limited

Energy ONE Limited serves as General Partner for New Energy One (NEO), an investment fund registered in Jersey Channel Islands. NEO focuses on investing in new building green assets with a total capital investment program of USD 2.00 billion in zero emission ships. The fund enables industrial end users and commodity producers to reduce their greenhouse gas emissions.

Order Classification Framework