Swan Defence and Heavy Industries Limited (formerly Reliance Naval and Engineering Limited) announced the outcome of its Board Meeting held on February 4, 2026. The Board approved the Unaudited Standalone and Consolidated Financial Results for the quarter and nine months period ended December 31, 2025, along with the Limited Review Report from the Statutory Auditors. The company also approved availing a Rupee Term Loan (RTL) of ₹1,150 Crores from the National Bank for Financing Infrastructure and Development (NaBFID), which will be used for refinancing existing financial creditors. The interest rate for this loan is set at 1.25% plus the 1-year NaBFID Lending Rate (currently 7.75%), with a tenure of approximately 10.75 years. Additionally, the Board approved the constitution of a Risk Management Committee, with Mr. Ashishkumar Bairagra as Chairman, Mr. Paresh Vasantlal Merchant as Member, and Mr. Rajesh Bhardwaj as Member. The meeting commenced at 5:00 p.m. and concluded at 8:00 p.m. The financial results for the quarter ended December 31, 2025, show a standalone loss after tax of ₹3,338.68 Lakhs and a consolidated loss after tax of ₹3,310.80 Lakhs. For the nine months ended December 31, 2025, the standalone loss after tax was ₹8,488.19 Lakhs, and the consolidated loss after tax was ₹8,375.95 Lakhs. The company also noted that the Scheme of Arrangement and Amalgamation between Triumph Offshore Private Limited and Swan Defence and Heavy Industries Limited is subject to approvals from the NCLT, stock exchanges, SEBI, and other regulatory authorities.
