Swan Defence and Heavy Industries Limited has announced a board meeting scheduled for February 04, 2026, to review and approve the company's Q3FY26 financial performance. The meeting will focus on considering the unaudited financial results for both the quarter and nine months ended December 31, 2025.

Board Meeting Details

The board meeting has been convened in accordance with regulatory requirements under SEBI guidelines. The company's announcement, dated January 28, 2026, outlined the key aspects of the upcoming board session.

Trading Window Restrictions

Swan Defence has implemented trading window restrictions in compliance with insider trading regulations. The company had previously communicated on December 24, 2025, about the closure of the trading window for dealing in company securities.

The trading window closure details include:

• Effective Period: January 01, 2026 onwards
• Duration: Until 48 hours after Q3FY26 results announcement
• Regulatory Basis: Code of Conduct for Prohibition of Insider Trading
• Governing Framework: SEBI (Prohibition of Insider Trading) Regulations, 2015

Company Information

Swan Defence and Heavy Industries Limited, formerly known as Reliance Naval and Engineering Limited, operates in the defence and heavy industries sector. The company maintains its registered office at Pipavav Port, Post Uchhaiya, Via-Rajula, Dist. Amreli, Gujarat, with corporate operations based in Mumbai.

The announcement was signed by Priti P. Dave, Company Secretary & Compliance Officer, emphasizing the company's commitment to regulatory compliance and transparent communication with stakeholders regarding its financial reporting schedule.

Swan Defence and Heavy Industries Limited has secured a historic contract worth USD 227 million for the construction of six chemical tankers, marking India's entry into specialized commercial shipbuilding. The order from Norwegian shipowner Rederiet Stenersen AS represents the first chemical tanker contract awarded to an Indian shipyard and stands as one of the nation's largest single commercial shipbuilding deals.

Contract Details and Specifications

The comprehensive agreement encompasses the construction of six IMO Type II chemical tankers at SDHI's Pipavav shipyard in Gujarat. Each vessel will have a deadweight tonnage of 18,000 DWT, with an overall length of approximately 150 metres and a beam of approximately 23 metres.

The vessels will incorporate advanced dual-fuel LNG ready hybrid propulsion systems, enabling multiple operational modes supported by high levels of automation. Built to Ice Class 1A standards, the tankers will be designed by Marinform AS and StoGda Ship Design & Engineering, with DNV classification.

Strategic Significance for Indian Shipbuilding

This contract represents the first newbuild order at India's largest shipyard following its revitalization under Swan Corp Limited's management. The deal underscores the growing confidence in India's commercial shipbuilding capabilities and the effectiveness of progressive maritime policies, including the Shipbuilding Financial Assistance scheme.

Vivek Merchant, Director at Swan Defence and Heavy Industries Limited, emphasized the milestone's importance: "This marks a historic milestone in the shipyard's new journey toward becoming a state-of-the-art shipbuilding hub. The order from Rederiet Stenersen AS underscores global confidence in our ability to deliver future-ready, high-quality vessels."

International Partnership and Confidence

Rederiet Stenersen AS's decision to place this order follows a comprehensive technical and commercial evaluation process. John Stenersen, Director – Ship Management at Rederiet Stenersen AS, noted: "This is our first newbuilding contract placed with an Indian shipyard, following a comprehensive technical and commercial evaluation. Our decision reflects strong confidence in SDHI's infrastructure, engineering capabilities, and readiness to deliver specialized vessels."

The contract follows the signing of a Letter of Intent between SDHI and Rederiet Stenersen AS in November 2025, demonstrating the structured approach to this significant partnership.

SDHI's Competitive Advantages

Swan Defence and Heavy Industries Limited operates from a strategically located facility on India's west coast, featuring the country's largest dry dock measuring 662 metres by 65 metres. The company maintains a fabrication capacity of 164,000 tonnes per annum, providing significant competitive advantages in meeting India's maritime and industrial requirements.

The successful securing of this contract positions SDHI as a key player in India's commercial shipbuilding sector and demonstrates the potential for Indian shipyards to compete effectively in the global market for specialized vessels.