Annual Report for FY 2025-26.

SDHIL/SE/49/2026-27 10th August, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, Fort, G Block, Bandra Kurla Complex, Mumbai – 400001 Bandra (E), Mumbai – 400051 BSE Scrip Code : 533107 NSE Symbol : SWANDEF Dear Sir/Madam, Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) – Annual Report for F.Y. 2025-26 and Notice of the 29th Annual General Meeting of Members of the Company for F.Y. 2025-26 This is further to our disclosure dated 27th May, 2026 wherein Swan Defence and Heavy Industries Limited (‘Company’) had, inter alia, informed that the 29th Annual General Meeting (‘AGM’) of the Company will be held on Wednesday, 2nd September, 2026 at 11:30 a.m. (IST). The AGM is being held via Video Conferencing / Other Audio-Visual Means. This is in compliance with the General Circulars issued by the Ministry of Corporate Affairs dated April 8, 2020, April 13, 2020, May 5, 2020, May 5, 2022 and subsequent circulars issued in this regard, the latest being circular dated September 22, 2025 (collectively referred to as ‘MCA Circulars’). Please find enclosed herewith the 29th Annual Report of the Company for the FY 2025-26 along with the Notice of the 29th AGM. The Annual Report is available on the website of the Company at: https://sdhi.co.in/wp- content/uploads/2026/08/Annual-Report.pdf The Notice of the AGM is available on the website of the Company at: https://sdhi.co.in/wp-content/uploads/2026/08/Notice.pdf In compliance with the MCA Circulars read with Regulations 36 and 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), the Annual Report including the Notice of AGM is being sent ONLY through electronic mode, to those Members whose e-mail addresses are registered with the Company / Registrar and Transfer Agent / Depository Participant / Depositories. The Company will be sending physical letters, providing the web-link, including the exact path where complete details of the Annual Report including the Notice of AGM is available, to those shareholder(s) and debenture holder(s) who have not registered their e-mail address with the Company / Registrar and Transfer Agent / Depositories / Depository Participants. SWAN DEFENCE AND HEAVY INDUSTRIES LIMITED (Formerly known as Reliance Naval and Engineering Limited) Registered Office: Pipavav Port, Post Ucchaiya, Via-Rajula, Dist. Amreli - 365 560, Gujarat Corporate Office: Uttam House, 3rd Floor, Plot No. 69, P D’Mello Road, Carnac Bunder, Mumbai – 400 009 +91 22 4058 7300 | info@swan.co.in | www.sdhi.co.in | CIN - L35110GJ1997PLC033193 This disclosure is being submitted pursuant to Regulation(s) 30 and 34 and other applicable provisions of the SEBI Listing Regulations read with applicable SEBI Circulars. Kindly take the above information on record. Yours faithfully, For Swan Defence and Heavy Industries Limited [formerly known as Reliance Naval and Engineering Limited] Priti P. Dave Company Secretary & Compliance Officer ACS:- 19469 SWAN DEFENCE AND HEAVY INDUSTRIES LIMITED (Formerly known as Reliance Naval and Engineering Limited) Registered Office: Pipavav Port, Post Ucchaiya, Via-Rajula, Dist. Amreli - 365 560, Gujarat Corporate Office: Uttam House, 3rd Floor, Plot No. 69, P D’Mello Road, Carnac Bunder, Mumbai – 400 009 +91 22 4058 7300 | info@swan.co.in | www.sdhi.co.in | CIN - L35110GJ1997PLC033193 SWAN DEFENCE AND HEAVY INDUSTRIES LIMITED (formerly known as Reliance Naval and Engineering Limited) 29TH ANNUAL REPORT For the year ended 31.03.2026 From the Desk of the Chairman & Managing Director Dear Shareholders, FY 2025-26 was a landmark year for Swan Defence and Heavy Industries Limited (SDHI). Operating against the backdrop of geopolitical uncertainties and global trade volatility, the Indian economy demonstrated remarkable resilience as one of the fastest-growing major economies. Capitalizing on this macro-economic strength and Government’s decisive push towards shipbuilding indigenization, maritime infrastructure, and the Aatmanirbhar Bharat program, SDHI has significantly strengthened its position as a premier emerging player in India’s domestic and global shipbuilding landscape. During the year, we remained focused on strengthening our operational capabilities, expanding our order pipeline, and building a globally competitive shipbuilding platform. A defining milestone was the successful conclusion of our Corporate Insolvency Resolution Process (CIRP) through the prepayment of all outstanding Committee of Creditors' (CoC) obligations. This milestone strengthened the Company’s financial foundation and enhanced its ability to pursue future growth opportunities. FY 2025-26 also marked an important milestone in our commercial journey. We secured our first major commercial shipbuilding order following the acquisition of the shipyard, strengthened our presence in next-generation green vessels through dual-fuel ammonia bulk carrier orders, and secured a prestigious defence export order for a naval training vessel. Alongside these achievements, the shipyard successfully executed multiple ship repair and refit projects, while strategic collaborations with leading domestic and global maritime organizations further strengthened our capabilities across commercial, defence, and green shipbuilding. Looking ahead, India’s shipbuilding industry is entering a period of significant structural growth, supported by favorable government policies, increasing defence expenditure, expanding commercial shipbuilding opportunities, and rising global demand for environmentally sustainable vessels. Anchored by India’s largest integrated shipyards, a robust order book, strategic partnerships and a seasoned leadership team, SDHI is exceptionally positioned to drive and lead this transformation. As we enter FY 2026-27, our priorities remain focused on timely execution of our order book, strengthening operational excellence, expanding our presence across commercial shipbuilding, defence, ship repair, and offshore fabrication, and creating sustainable long-term value for all our stakeholders. On behalf of the Board, I express my sincere gratitude to our shareholders for their continued trust and confidence. I also thank our employees, customers, business partners, and all our stakeholders for their unwavering support and commitment. Together, we look forward to achieving new milestones in the years ahead. Warm regards, Nikhil V. Merchant Chairman & Managing Director Swan Defence and Heavy Industries Limited BOARD OF DIRECTORS KEY MANAGERIAL PERSONNEL In terms of the Companies Act, 2013 CHAIRMAN & MANAGING DIRECTOR RAdm Vipin Kumar Saxena, IN (Retd.) Chief Executive Officer Mr. Nikhil Vasantlal Merchant (DIN:00614790) Mr. Rajesh Dilipbhai Bhardwaj Executive Director Chief Financial Officer (upto 27th May, 2026) Mr. Jignesh Shah DIRECTORS Chief Financial Officer (w.e.f. 28th May, 2026) Mr. Vishant Shetty Mr. Paresh Vasantlal Merchant (DIN: 00660027) (ICSI Membership No. A38378) Director Company Secretary (upto 22nd June, 2025) Ms. Priti P. Dave Mr. Bhavik Nikhil Merchant (DIN: 06389064) (ICSI Membership No. A19469) Director Company Secretary (w.e.f. 17th December, 2025) Mr. Vivek Paresh Merchant (DIN: 06389079) AUDITORS Director STATUTORY AUDITORS M/s. N. N. Jambusaria & Co., Chartered Accountants Mr. Arvind Jayasing Morbale (DIN: 10366188) SECRETARIAL AUDITORS Whole-Time Director M/s. DM & Associates Company Secretaries LLP Mr. Arun Sinha (DIN: 00280485) 29TH ANNUAL GENERAL MEETING ON WEDNESDAY, 2ND SEPTEMBER, 2026 Independent Director AT 11:30 A.M. THROUGH VIDEO CONFERENCE / OTHER AUDIO - VISUAL MEANS Mr. Kaiyoze Beji Billimoria (DIN: 00021204) DEEMED VENUE: Independent Director PIPAVAV PORT, POST UCCHAIYA, VIA-RAJULA, DIST. AMRELI - 365560, GUJARAT Ms. Maya Swaminathan Sinha (DIN: 0 [Showing first 8,000 characters — download PDF for full document]