About Reliance Naval and Engineering
Reliance Naval and Engineering is a publicly listed company based in Mumbai (India) founded in 1997, and was acquired by Swan Energy in October 2023. Shipbuilding services for the defense industry are provided. The company has 233 employees. Its Indian entity Swan Defence And Heavy Industries Limited reported revenue of ₹440 Cr. Reliance Naval and Engineering offers products and services including Shipbuilding and Ship Repairs. Its focus areas include Aerospace, Maritime and Defense and Ship Repair and Management Services.
Company details
Reliance Naval and Engineering was founded in 1997 and is based in Mumbai, India. Operations focus on the defense sector, where shipbuilding services are delivered for naval vessels and related engineering projects. Facilities support construction, repair, and maintenance activities, with an emphasis on maritime defense requirements. The company operates primarily within Indias shipyard infrastructure, contributing to national defense capabilities through specialized engineering solutions.
- Headquarters Mumbai, India
- Employees 233
- Stage Acquired
- SectorsAerospace, Defense & Maritime
- Website rnaval.co.in
- Social LinkedIn
- Acquired by Swan Energy (Oct 2023)
- Legal Name Swan Defence And Heavy Industries Limited
- Date of Incorporation 17 Oct, 1997
- Jurisdiction Rajual, Gujarat, India
- Market Cap₹15,028 Cr
SWANDEF · NSE
- Share Price₹2,852.60
+0.24% today
- Revenue₹282 Cr
FY 2025-26 · +3913.4% YoY
- EBITDA−₹310 Cr
Margin -109.8%
- Net Profit−₹226 Cr
FY 2025-26 · -24.2% YoY
- P/E (TTM)42.9x
P/B 6.6x
- Debt / Equity14.49
Interest cover -3.3x
- Investors
- Employee Count233
- Acquired by
Associated legal entities of Reliance Naval and Engineering
Reliance Naval and Engineering is associated with 2 registered companies on The Company Check; the primary company is Swan Defence And Heavy Industries Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Swan Defence And Heavy Industries Limited Listed CIN L77306GJ1997PLC033193 | Active | 17 Oct 1997 | Rajual, Gujarat | ₹440 Cr | 54 | 13 | View details |
| Swan Defence And Heavy Industries Limited CIN L35110GJ1997PLC033193 | 17 Oct 1997 | Rajual, Gujarat, India | View details |
Products & Services of Reliance Naval and Engineering
Reliance Naval and Engineering offers a comprehensive portfolio of products and services, including Shipbuilding and Ship Repairs.
Commercial and defence vessels are constructed using advanced facilities, with capacities designed to serve global demands.
Repairs and maintenance are performed on ships and rigs, utilizing technical expertise and infrastructure to ensure operational efficiency.
Investors in Reliance Naval and Engineering
Reliance Naval and Engineering has secured backing from 1 investor. Prominent investors backing the company include Swan Corp.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Gas regasification units are developed and operated by the company. | 1909 | swan.co.in | Mumbai, India |
Investor details for Reliance Naval and Engineering
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Board of directors of Swan Defence And Heavy Industries Limited (Reliance Naval and Engineering)
Swan Defence And Heavy Industries Limited is the primary company behind Reliance Naval and Engineering. The board of Swan Defence And Heavy Industries Limited currently have 10 directors; the longest-serving is Nikhil Vasantlal Merchant, appointed in 2023. 67 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Nikhil Vasantlal Merchant DIN 00614790 | Managing Director | 08 Dec 2023 | 2 yrs 11 mo | Swan Defence And Heavy Industries Limited |
| Paresh Vasantlal Merchant DIN 00660027 | Director | 08 Dec 2023 | 2 yrs 11 mo | Swan Defence And Heavy Industries Limited |
| Bhavik Nikhil Merchant DIN 06389064 | Director | 08 Dec 2023 | 2 yrs 11 mo | Swan Defence And Heavy Industries Limited |
| Vivek Paresh Merchant DIN 06389079 | Director | 08 Dec 2023 | 2 yrs 11 mo | Swan Defence And Heavy Industries Limited |
| Kaiyoze Beji Billimoria DIN 00021204 | Director | 14 Dec 2023 | 2 yrs 10 mo | Swan Defence And Heavy Industries Limited |
| Arun Sinha DIN 00280485 | Director | 14 Dec 2023 | 2 yrs 10 mo | Swan Defence And Heavy Industries Limited |
| Maya Swaminathan Sinha DIN 03056226 | Director | 14 Dec 2023 | 2 yrs 10 mo | Swan Defence And Heavy Industries Limited |
| Arvind Jayasing Morbale DIN 10366188 | Whole-time director | 14 Dec 2023 | 2 yrs 10 mo | Swan Defence And Heavy Industries Limited |
| Prabhakar Reddy Patil DIN 00377406 | Director | 16 Dec 2023 | 2 yrs 10 mo | Swan Defence And Heavy Industries Limited |
| Jayaramakrishnan Kannan DIN 06551104 | Director | 31 Mar 2026 | 7 mo | Swan Defence And Heavy Industries Limited |
People of Reliance Naval and Engineering
2 people are tracked at Reliance Naval and Engineering (1 in leadership, 1 in team); the tracked headcount is 233.
| Name | Role | Group |
|---|---|---|
Shri Debashis Bir | Whole-time Director And Chief Executive Officer | Leadership |
Tejas Ganatra | Manager | Team |
Complete people profiles for Reliance Naval and Engineering
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Verified entity values are shown only after access is granted.
IPO & Listings of Reliance Naval and Engineering
Reliance Naval and Engineering is a publicly listed company on the NSE with ticker symbol SWANDEF in India, operating in the Ship Building sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date09 Oct 2009
- Listed onNSE: RDEL
- Listed entitySwan Defence And Heavy Industries Limited
- Exchange sectorShip Building
Financials of Reliance Naval and Engineering
Exchange-reported figures of Swan Defence N Hevy Ind L, the listed company behind Reliance Naval and Engineering (NSE: SWANDEF).
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 282 | 7.03 | 0.00 | 3.16 | 6.32 | 6.30 | 75.49 |
| Revenue growth | +3913.4% | - | -100.0% | -50.0% | +0.3% | -91.7% | - |
| EBITDA | (310) | (110) | (28.96) | (969) | (26.60) | (1,506) | (244) |
| EBITDA margin | -109.8% | -1567.6% | - | - | -420.9% | - | -322.9% |
| Profit before tax | (228) | (182) | (121) | 17,937 | (2,086) | (3,427) | (1,761) |
| Net profit | (226) | (182) | (121) | (1,566) | (2,088) | (2,105) | (1,695) |
| Net profit margin | -80.0% | -2585.4% | - | - | - | - | -2244.9% |
| EPS (₹) | (42.88) | (34.36) | (449.61) | 66,874.73 | (28.28) | (46.46) | (23.87) |
| Balance sheet | |||||||
| Total assets | 2,858 | 2,801 | 2,696 | 2,695 | (1,953) | 129 | 777 |
| Net worth | 69.64 | 296 | 477 | 547 | (17,376) | (15,292) | (12,166) |
| Total debt | 2,788 | 2,505 | 2,219 | 2,148 | 15,423 | 15,420 | 12,906 |
| Cash & bank | 289 | 29.18 | 18.95 | 8.10 | 27.82 | 18.91 | 15.93 |
| Net working capital | 1,154 | 1,384 | 1,386 | 1,329 | (3,403) | (1,394) | (1,541) |
| Cash flow | |||||||
| Cash from operations | 182 | (96.21) | (70.14) | 1,428 | 2,007 | 710 | (1,183) |
| Cash from investing | (440) | (162) | (10.87) | 11.68 | 2.35 | (1.46) | 49.27 |
| Cash from financing | 413 | 268 | 91.12 | (1,460) | (1,999) | (707) | 1,099 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 68.85 | 30.61 | 236 | 5.87 | 39.57 | 0.42 | 4.91 | 1.16 |
| Revenue growth (YoY) | +74.0% | +7188.1% | +4712.2% | +406.0% | +4021.9% | - | - | - |
| Other income | 56.84 | 11.57 | 131 | 5.37 | 31.13 | 18.33 | 7.16 | 0.87 |
| EBITDA | (17.68) | (21.10) | (250) | (20.05) | (7.97) | (31.62) | (11.67) | (36.17) |
| EBITDA margin | -25.7% | -68.9% | -106.0% | -341.6% | -20.1% | -7528.6% | -237.7% | -3118.1% |
| Depreciation | 16.54 | 15.18 | 17.51 | 15.53 | 15.08 | 15.15 | 15.92 | 15.08 |
| Interest | 19.32 | 16.95 | 4.78 | 2.91 | 2.28 | 2.35 | 2.46 | 2.49 |
| Profit before tax | 3.30 | (41.66) | (142) | (33.12) | 5.80 | (30.79) | (22.89) | (52.87) |
| Tax | (563) | 0.00 | 0.00 | 0.00 | 6.35 | 0.00 | 0.00 | 0.00 |
| Net profit | 566 | (41.66) | (142) | (33.12) | (0.55) | (30.79) | (22.89) | (52.87) |
| EPS (₹) | 107.52 | (7.91) | (26.98) | (6.28) | (3.77) | (5.84) | (4.32) | (10.13) |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 282 | 7.03 | 0.00 | 3.16 | 6.32 | 6.30 | 75.49 |
| Revenue growth | +3913.4% | - | -100.0% | -50.0% | +0.3% | -91.7% | - |
| EBITDA | (310) | (110) | (28.96) | (969) | (26.60) | (1,506) | (242) |
| EBITDA margin | -109.8% | -1567.6% | - | - | -420.9% | - | -321.1% |
| Profit before tax | (228) | (182) | (121) | 17,937 | (2,086) | (3,427) | (1,621) |
| Net profit | (227) | (182) | (121) | (1,566) | (2,088) | (2,105) | (1,555) |
| Net profit margin | -80.6% | -2591.8% | - | - | - | - | -2060.2% |
| EPS (₹) | (43.19) | (34.45) | (452.46) | 66,873.95 | (28.29) | (46.46) | (21.98) |
| Balance sheet | |||||||
| Total assets | 2,852 | 2,798 | 2,692 | 2,693 | (1,956) | 127 | 318 |
| Net worth | 64.37 | 292 | 473 | 545 | (17,379) | (15,293) | (11,868) |
| Total debt | 2,788 | 2,505 | 2,219 | 2,148 | 15,423 | 15,420 | 12,185 |
| Cash & bank | 289 | 29.18 | 18.95 | 8.10 | 27.82 | 18.91 | 15.80 |
| Net working capital | 1,154 | 1,384 | 1,386 | 1,329 | (3,403) | (1,394) | (1,299) |
| Cash flow | |||||||
| Cash from operations | 182 | (96.21) | (70.14) | 1,428 | 2,007 | 710 | (1,253) |
| Cash from investing | (440) | (162) | (10.87) | 11.68 | 2.35 | (1.33) | 41.31 |
| Cash from financing | 413 | 268 | 91.12 | (1,460) | (1,999) | (707) | 1,177 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 68.85 | 30.61 | 236 | 5.87 | 39.57 | 0.42 | 4.91 | 1.16 |
| Revenue growth (YoY) | +74.0% | +7188.1% | +4712.2% | +406.0% | +4021.9% | - | - | - |
| Other income | 56.84 | 11.57 | 130 | 5.10 | 30.67 | 17.95 | 7.16 | 0.88 |
| Total expenses | 85.87 | 51.63 | 487 | 25.92 | 47.54 | 32.04 | 16.57 | 37.33 |
| EBITDA | (17.02) | (21.02) | (250) | (20.05) | (7.97) | (31.62) | (11.66) | (36.17) |
| EBITDA margin | -24.7% | -68.7% | -106.0% | -341.6% | -20.1% | -7528.6% | -237.5% | -3118.1% |
| Depreciation | 16.54 | 15.18 | 17.51 | 15.53 | 15.08 | 15.15 | 15.92 | 15.08 |
| Interest | 19.32 | 16.95 | 4.78 | 2.91 | 2.28 | 2.35 | 2.46 | 2.49 |
| Profit before tax | 3.96 | (41.58) | (143) | (33.39) | 5.34 | (31.17) | (22.88) | (52.86) |
| Tax | (563) | 0.00 | 0.00 | 0.00 | 6.35 | 0.00 | 0.00 | 0.00 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 68.85 | 30.61 | 236 | 5.87 | 39.57 | 0.42 | 4.91 | 1.16 |
| Revenue growth (YoY) | +74.0% | +7188.1% | +4712.2% | +406.0% | +4021.9% | - | - | - |
| Other income | 56.84 | 11.57 | 131 | 5.37 | 31.13 | 18.33 | 7.16 | 0.87 |
| EBITDA | (17.68) | (21.10) | (250) | (20.05) | (7.97) | (31.62) | (11.67) | (36.17) |
| EBITDA margin | -25.7% | -68.9% | -106.0% | -341.6% | -20.1% | -7528.6% | -237.7% | -3118.1% |
| Depreciation | 16.54 | 15.18 | 17.51 | 15.53 | 15.08 | 15.15 | 15.92 | 15.08 |
| Interest | 19.32 | 16.95 | 4.78 | 2.91 | 2.28 | 2.35 | 2.46 | 2.49 |
| Profit before tax | 3.30 | (41.66) | (142) | (33.12) | 5.80 | (30.79) | (22.89) | (52.87) |
| Tax | (563) | 0.00 | 0.00 | 0.00 | 6.35 | 0.00 | 0.00 | 0.00 |
| Net profit | 566 | (41.66) | (142) | (33.12) | (0.55) | (30.79) | (22.89) | (52.87) |
| EPS (₹) | 107.52 | (7.91) | (26.98) | (6.28) | (3.77) | (5.84) | (4.32) | (10.13) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 282 | 7.03 | 0.00 | 3.16 | 6.32 | 6.30 | 75.49 |
| Revenue growth | +3913.4% | - | -100.0% | -50.0% | +0.3% | -91.7% | - |
| Other income | 158 | 10.50 | 2.46 | 20,444 | 12.73 | 185 | 23.72 |
| Total expenses | 592 | 117 | 28.96 | 972 | 32.92 | 1,512 | 319 |
| Employee cost | 36.07 | 21.89 | 4.72 | 3.26 | 4.80 | 7.69 | 20.54 |
| EBITDA | (310) | (110) | (28.96) | (969) | (26.60) | (1,506) | (244) |
| EBITDA margin | -109.8% | -1567.6% | - | - | -420.9% | - | -322.9% |
| Depreciation | 63.27 | 60.88 | 68.46 | 68.29 | 73.96 | 73.78 | 71.95 |
| Interest | 12.32 | 20.94 | 26.39 | 1,470 | 1,999 | 2,032 | 1,469 |
| Profit before tax | (228) | (182) | (121) | 17,937 | (2,086) | (3,427) | (1,761) |
| Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net profit | (226) | (182) | (121) | (1,566) | (2,088) | (2,105) | (1,695) |
| Net profit margin | -80.0% | -2585.4% | - | - | - | - | -2244.9% |
| EPS (₹) | (42.88) | (34.36) | (449.61) | 66,874.73 | (28.28) | (46.46) | (23.87) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 52.68 | 52.68 | 2.68 | 2.68 | 751 | 750 | 749 |
| Reserves & surplus | 16.96 | 243 | 424 | 545 | (18,127) | (16,042) | (12,915) |
| Shareholders' funds (net worth) | 69.64 | 296 | 477 | 547 | (17,376) | (15,292) | (12,166) |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 1,014 | 1,332 | 1,840 | 2,040 | 0.00 | 0.00 | 3,581 |
| Unsecured loans | 1,773 | 1,173 | 379 | 108 | 15,423 | 15,420 | 9,326 |
| Total debt | 2,788 | 2,505 | 2,219 | 2,148 | 15,423 | 15,420 | 12,906 |
| Total liabilities | 2,858 | 2,801 | 2,696 | 2,695 | (1,953) | 129 | 777 |
| Assets | |||||||
| Gross block | 6,132 | 6,107 | 6,033 | 6,029 | 6,367 | 6,367 | 6,912 |
| Net block | 1,187 | 1,180 | 1,168 | 1,232 | 1,332 | 1,406 | 1,973 |
| Capital work in progress | 166 | 155 | 43.07 | 36.69 | 36.69 | 36.69 | 36.69 |
| Investments | 258 | 5.26 | 4.81 | 4.05 | 3.84 | 3.39 | 303 |
| Inventories | 952 | 1,401 | 1,405 | 1,405 | 2,086 | 2,089 | 495 |
| Sundry debtors | 12.32 | 0.46 | 0.00 | 0.00 | 0.81 | 2.58 | 2.90 |
| Cash & bank balances | 289 | 29.18 | 18.95 | 8.10 | 27.82 | 18.91 | 15.93 |
| Loans & advances | 211 | 43.93 | 9.52 | 5.83 | 179 | 174 | 1,915 |
| Total current assets | 1,464 | 1,475 | 1,434 | 1,419 | 2,294 | 2,284 | 2,429 |
| Total current liabilities | 310 | 90.48 | 47.65 | 90.25 | 5,696 | 3,678 | 3,970 |
| Net working capital | 1,154 | 1,384 | 1,386 | 1,329 | (3,403) | (1,394) | (1,541) |
| Total assets | 2,858 | 2,801 | 2,696 | 2,695 | (1,953) | 129 | 777 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 28.38 | 18.21 | 8.10 | 27.82 | 16.78 | 15.64 | 50.31 |
| Net cash from operating activities | 182 | (96.21) | (70.14) | 1,428 | 2,007 | 710 | (1,183) |
| Net cash from investing activities | (440) | (162) | (10.87) | 11.68 | 2.35 | (1.46) | 49.27 |
| Net cash from financing activities | 413 | 268 | 91.12 | (1,460) | (1,999) | (707) | 1,099 |
| Net change in cash | 156 | 10.17 | 10.11 | (19.72) | 11.04 | 1.14 | (34.67) |
| Closing cash | 289 | 29.18 | 18.95 | 8.10 | 27.82 | 18.91 | 15.93 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +3913.4% | - | -100.0% | -50.0% | +0.3% | -91.7% | - |
| EBITDA growth | -181.1% | -280.5% | +97.0% | -3543.4% | +98.2% | -517.8% | - |
| PBT growth | -25.3% | -49.6% | - | +9998.0% | +39.1% | -94.6% | +83.3% |
| Net income growth | -24.2% | -50.7% | +92.3% | +25.0% | +0.8% | -24.2% | - |
| Revenue CAGR (3Y) | +347.0% | +3.6% | -100.0% | -65.3% | -67.3% | -74.5% | -48.8% |
| EBITDA CAGR (3Y) | -31.6% | +60.6% | -73.2% | +58.4% | -85.7% | +64.1% | - |
| Profitability & leverage | |||||||
| Net income margin | -80.6% | -2582.1% | - | - | - | - | -2332.6% |
| Return on capital employed | 0.0% | 0.0% | 0.0% | -7.1% | 0.0% | 0.0% | 0.0% |
| Return on net worth | 0.0% | 0.0% | 0.0% | +21.1% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 14.49 | 6.12 | 4.26 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | 13.89 | 4.80 | 3.25 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | -3.30 | -12.24 | -27.09 | -141.67 | -1,987.44 | -128.60 | -465.21 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Inventory turnover | 0.24 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.14 |
| Debtors turnover | 44.15 | 30.57 | 0.00 | 7.80 | 3.73 | 2.30 | 17.87 |
| EPS (₹) | (42.88) | (34.36) | (449.61) | 66,874.73 | (28.28) | (46.46) | (23.87) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 13.22 | 56.11 | 1,590.67 | 2,040.28 | (235.77) | (207.49) | (165.10) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 68.85 | 30.61 | 236 | 5.87 | 39.57 | 0.42 | 4.91 | 1.16 |
| Revenue growth (YoY) | +74.0% | +7188.1% | +4712.2% | +406.0% | +4021.9% | - | - | - |
| Other income | 56.84 | 11.57 | 130 | 5.10 | 30.67 | 17.95 | 7.16 | 0.88 |
| Total expenses | 85.87 | 51.63 | 487 | 25.92 | 47.54 | 32.04 | 16.57 | 37.33 |
| EBITDA | (17.02) | (21.02) | (250) | (20.05) | (7.97) | (31.62) | (11.66) | (36.17) |
| EBITDA margin | -24.7% | -68.7% | -106.0% | -341.6% | -20.1% | -7528.6% | -237.5% | -3118.1% |
| Depreciation | 16.54 | 15.18 | 17.51 | 15.53 | 15.08 | 15.15 | 15.92 | 15.08 |
| Interest | 19.32 | 16.95 | 4.78 | 2.91 | 2.28 | 2.35 | 2.46 | 2.49 |
| Profit before tax | 3.96 | (41.58) | (143) | (33.39) | 5.34 | (31.17) | (22.88) | (52.86) |
| Tax | (563) | 0.00 | 0.00 | 0.00 | 6.35 | 0.00 | 0.00 | 0.00 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 282 | 7.03 | 0.00 | 3.16 | 6.32 | 6.30 | 75.49 |
| Revenue growth | +3913.4% | - | -100.0% | -50.0% | +0.3% | -91.7% | - |
| Other income | 158 | 10.51 | 2.46 | 20,444 | 12.73 | 185 | 23.71 |
| Total expenses | 592 | 117 | 28.96 | 972 | 32.92 | 1,512 | 318 |
| Employee cost | 36.07 | 21.89 | 4.72 | 3.26 | 4.80 | 7.69 | 20.54 |
| EBITDA | (310) | (110) | (28.96) | (969) | (26.60) | (1,506) | (242) |
| EBITDA margin | -109.8% | -1567.6% | - | - | -420.9% | - | -321.1% |
| Depreciation | 63.27 | 60.88 | 68.46 | 68.29 | 73.96 | 73.78 | 74.61 |
| Interest | 12.32 | 20.94 | 26.39 | 1,470 | 1,999 | 2,032 | 1,328 |
| Profit before tax | (228) | (182) | (121) | 17,937 | (2,086) | (3,427) | (1,621) |
| Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net profit | (227) | (182) | (121) | (1,566) | (2,088) | (2,105) | (1,555) |
| Net profit margin | -80.6% | -2591.8% | - | - | - | - | -2060.2% |
| EPS (₹) | (43.19) | (34.45) | (452.46) | 66,873.95 | (28.29) | (46.46) | (21.98) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 52.68 | 52.68 | 2.68 | 2.68 | 751 | 750 | 749 |
| Reserves & surplus | 11.69 | 239 | 421 | 542 | (18,130) | (16,043) | (12,617) |
| Shareholders' funds (net worth) | 64.37 | 292 | 473 | 545 | (17,379) | (15,293) | (11,868) |
| Secured loans | 1,014 | 1,332 | 1,840 | 2,040 | 0.00 | 0.00 | 3,548 |
| Unsecured loans | 1,773 | 1,173 | 379 | 108 | 15,423 | 15,420 | 8,637 |
| Total debt | 2,788 | 2,505 | 2,219 | 2,148 | 15,423 | 15,420 | 12,185 |
| Total liabilities | 2,852 | 2,798 | 2,692 | 2,693 | (1,956) | 127 | 318 |
| Assets | |||||||
| Gross block | 6,132 | 6,107 | 6,033 | 6,029 | 6,367 | 6,367 | 6,367 |
| Net block | 1,187 | 1,180 | 1,168 | 1,232 | 1,332 | 1,406 | 1,480 |
| Capital work in progress | 166 | 155 | 43.07 | 36.69 | 36.69 | 36.69 | 36.69 |
| Investments | 253 | 1.53 | 1.53 | 1.53 | 1.53 | 1.53 | 20.50 |
| Inventories | 952 | 1,401 | 1,405 | 1,405 | 2,086 | 2,089 | 495 |
| Sundry debtors | 12.32 | 0.46 | 0.00 | 0.00 | 0.81 | 2.58 | 0.46 |
| Cash & bank balances | 289 | 29.18 | 18.95 | 8.10 | 27.82 | 18.91 | 15.80 |
| Loans & advances | 211 | 43.93 | 9.52 | 5.83 | 179 | 174 | 1,915 |
| Total current assets | 1,464 | 1,475 | 1,434 | 1,419 | 2,294 | 2,284 | 2,426 |
| Total current liabilities | 310 | 90.48 | 47.65 | 90.25 | 5,696 | 3,678 | 3,725 |
| Net working capital | 1,154 | 1,384 | 1,386 | 1,329 | (3,403) | (1,394) | (1,299) |
| Total assets | 2,852 | 2,798 | 2,692 | 2,693 | (1,956) | 127 | 318 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 28.38 | 18.21 | 8.10 | 27.82 | 16.78 | 15.51 | 50.06 |
| Net cash from operating activities | 182 | (96.21) | (70.14) | 1,428 | 2,007 | 710 | (1,253) |
| Net cash from investing activities | (440) | (162) | (10.87) | 11.68 | 2.35 | (1.33) | 41.31 |
| Net cash from financing activities | 413 | 268 | 91.12 | (1,460) | (1,999) | (707) | 1,177 |
| Net change in cash | 156 | 10.17 | 10.11 | (19.72) | 11.04 | 1.27 | (34.55) |
| Closing cash | 289 | 29.18 | 18.95 | 8.10 | 27.82 | 18.91 | 15.80 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +3913.4% | - | -100.0% | -50.0% | +0.3% | -91.7% | - |
| EBITDA growth | -181.1% | -280.5% | +97.0% | -3543.4% | +98.2% | -521.3% | - |
| PBT growth | -25.3% | -49.6% | - | +9998.0% | +39.1% | -111.4% | +84.0% |
| Net income growth | -24.8% | -50.1% | +92.3% | +25.0% | +0.8% | -35.4% | - |
| Revenue CAGR (3Y) | +347.0% | +3.6% | -100.0% | -65.3% | -67.3% | -73.4% | -47.4% |
| EBITDA CAGR (3Y) | -31.6% | +60.6% | -73.2% | +58.7% | -85.5% | +62.4% | - |
| Profitability & leverage | |||||||
| Net income margin | -80.6% | -2581.9% | - | - | - | - | -2147.7% |
| Return on capital employed | 0.0% | 0.0% | 0.0% | -7.1% | 0.0% | 0.0% | 0.0% |
| Return on net worth | 0.0% | 0.0% | 0.0% | +21.1% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 14.86 | 6.17 | 4.29 | 0.00 | 0.00 | 0.00 | 0.00 |
| Long-term debt / equity | 14.24 | 4.85 | 3.27 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | -3.30 | -12.24 | -27.09 | -141.67 | -1,987.44 | -128.60 | -418.89 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 |
| Inventory turnover | 0.24 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.14 |
| Debtors turnover | 44.15 | 30.57 | 0.00 | 7.80 | 3.73 | 4.14 | 25.12 |
| EPS (₹) | (43.19) | (34.45) | (452.46) | 66,873.95 | (28.29) | (46.46) | (21.98) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 12.22 | 55.40 | 1,578.45 | 2,030.92 | (235.80) | (207.51) | (161.06) |
Timeline of Reliance Naval and Engineering
3 dated milestones of Reliance Naval and Engineering across 26 years, from founding to its latest funding, stage changes and deals.
- Founded Reliance Naval and Engineering is founded.
- IPO Lists on the stock exchange (IPO).
- Exit Acquired by Swan Energy.
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Frequently Asked Questions about Reliance Naval and Engineering
Reliance Naval and Engineering was founded in 1997.
Reliance Naval and Engineering is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Reliance Naval and Engineering has 233 employees.
The primary company behind Reliance Naval and Engineering, Swan Defence And Heavy Industries Limited, reported revenue of ₹440 Cr for FY 2026, up 3913% year on year.
Reliance Naval and Engineering was founded in 1997 and is based in Mumbai, India. Operations focus on the defense sector, where shipbuilding services are delivered for naval vessels and related engineering projects. Facilities support construction, repair, and maintenance activities, with an emphasis on maritime defense requirements. The company operates primarily within Indias shipyard infrastructure, contributing to national defense capabilities through specialized engineering solutions.
Reliance Naval and Engineering offers Shipbuilding and Ship Repairs.
Yes, Reliance Naval and Engineering is publicly traded on NSE under the ticker symbol SWANDEF.
Reliance Naval and Engineering has 1 investor. Key investors include Swan Corp.
Reliance Naval and Engineering operates through Swan Defence And Heavy Industries Limited.
Yes. Reliance Naval and Engineering was acquired by Swan Energy in October 2023.
The legal entities of Reliance Naval and Engineering currently have 13 directors, including Nikhil Vasantlal Merchant, Paresh Vasantlal Merchant, Bhavik Nikhil Merchant and others.