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Swan Energy approved its Audited Consolidated Financial Results for the quarter ended 31^st March 2024, in the meeting of its Board of Directors held on 30^th May 2024. 

The summary of the results are:

Consolidated Financial Highlights for the Q4 FY24

* For FY24, consolidated revenue surged by 251.99% YoY

* The company total comprehensive income rose by 1001.48% in FY24

* FY24 EPS soars to Rs 20.57, marking a significant uptick from FY23 (Rs -2.52)

* The Board of Directors recommends a final dividend of ?0.10 per share of FV of ?1 each declared by the company and will be subject to approval by shareholders at the AGM

Mr. Chetan Selarka, CFO, Swan Energy Limited said, ‘‘FY24 has been a year of developing a robust foundation of growth across all business verticals. Following a successful fund raising through QIP, we have made substantial progress in debt reduction in the company including subsidiaries. We have formally taken the management control of RNEL from NCLT and the issuances of shares are in process. We have initiated the process of revamping of the RNEL shipyard infrastructure facilities to make it operational as well as building a proficient leadership team. These measures, aimed at fortifying our organisational strength, are in line with our mission to strengthen the shipyard manufacturing capacity to take India amongst the top five countries in heavy fabrication, ship building and ship repairing across the commercial and in naval sectors.

Veritas (India) business has been fully integrated into our results. The real estate segment is displaying growth momentum, as it has recently obtained an occupation certificate for a premium residential project in Bengaluru.

Additionally, we are also aggressively working on completion of LNG terminal project.

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