On December 04, 2024, Swan Energy’s share price (NSE: SWANENERGY) touched a day’s high of ₹694.70 during early trade. Swan Energy, a leading oil, gas, and petrochemical trading company, recently announced the resumption of operations at its shipyard, formerly known as Reliance Naval and Engineering Ltd or RNEL.
With the resumption of its shipyard operations, Swan Energy announced the successful completion of its first repair project for a Coast Guard patrol vessel, finishing ahead of schedule.
Indian Coast Guard’s fast patrol vessel, Raj Ratan, is the first repair project, which began on September 4, 2024. The project was completed ahead of schedule, on November 30.
Looking forward, Swan Energy’s shipyard plans to expand its operations by also taking on shipbuilding projects at the facility.
Last month, Swan Energy entered into a strategic partnership with Balu Forge Industries to explore opportunities in supplying products and solutions for industries such as defence, aerospace, railways, and nuclear.
The two companies will jointly invest in an SPV (Special Purpose Vehicle) that will focus on this new business venture
Swan Energy’s financial results for the second quarter of FY24, reported on November 14, 2024, showed a decline in both revenue and profits. The company posted a on-year revenue decrease of 15.62%, reaching ₹1,032.19 crore, while its profit fell by 39.37% to ₹51.28 crore.
The company’s total expenses for Q2 FY25 were ₹1,006.11 crore, reflecting a 4.33% decrease from the previous year.
Swan Energy has expanded its operations across a wide range of sectors, including energy, infrastructure, and manufacturing. The company operates with a diversified portfolio, focusing on leveraging emerging opportunities within these industries. Swan Energy is also involved in projects related to renewable energy, shipping, and construction, contributing to its growing presence in India’s industrial landscape.
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