Swan Energy soars on shipyard resumption

Swan Energy jumped 8.41% to Rs 684.45 after the company announced the resumption of operations at its shipyard, Reliance Naval and Engineering Limited (RNEL).

A significant milestone in the shipyard's revival, RNEL has successfully completed the refit of the Indian Coast Guard's fast patrol vessel, Raj Ratan. The company is now gearing up to commence shipbuilding operations at the facility.

Swan's shipyard boasts the largest dry dock in India, measuring 662 meters by 65 meters, and one of the largest globally. Equipped with a 600-tonne SWL goliath crane, the shipyard also features modern fabrication, piping, and painting facilities with a capacity of 12,000 tons per month. Additional facilities include a 980-meter-long pre-erection berth for assembling mega blocks and a 350-meter-long dual berthing quay for afloat fit-out and commissioning.

Swan Energy is a leading global conglomerate with diversified interests in textile, real estate, oil & gas and shipbuilding and heavy engineering.

On a consolidated basis, net profit of Swan Energy declined 39.37% to Rs 51.28 crore while net sales declined 15.62% to Rs 1032.19 crore in Q2 September 2024 over Q2 September 2023.

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