Indian Shipyard SDHI Returns to Profit with $680 Million Order Book
Cubierto por 3 fuentesPublicado
- Hellenics Shipping newsSDHI Reports 2.5x Jump in Operating Revenue in H1 FY27 as the Shipyard Scales Up Execution
- Trade newsRevived Indian shipyard poised to restart work as orderbook hits $680m
- Ship News印度造船企业SDHI手持订单额达 6500亿卢比！2027财年上半年营收增长1.5倍
- Trade newsSwan Defence undercuts rival shipbuilder in bid for SCI product tanker quartet
The Indian shipyard Swan Defence and Heavy Industries (SDHI), formerly known as Reliance Naval and Engineering, returned to profitability and built up an order book of approximately 6,500 crore rupees, equivalent to around $680 to $683 million depending on the source. The Mumbai-based company moved from a restructuring phase into full execution of contracts under its new ownership, including six chemical tankers, four dual-fuel ammonia carriers, four tugboats, and one training ship.
Financial Results
In the first half ended September 30, 2026, SDHI reported a jump in operating revenue. Trade News reported net profit of 5,240 million rupees, reversing a loss of 152 million rupees from the previous year, with operating revenue rising from 399 to 994 million rupees. Ship News, however, cited different figures: operating revenue of 9,946 million rupees versus 3,999 million rupees the previous year (a 2.5-fold increase) and after-tax profit of 52,478 million rupees, reversing a loss of 1,517 million rupees, while the pre-tax result would have been a loss of 3,837 million rupees.
Key Contracts
Among the orders are six chemical tankers for Norway's Rederiet Stenersen AS, four 92,500-dwt dual-fuel ammonia carriers for Energy ONE Limited — the first order of its kind for an Indian shipyard, with deliveries scheduled to begin in fiscal year 2030 — four TRAnsverse 3200 harbor tugs for Denmark's Svitzer, backed by A.P. Moller-Maersk, with deliveries starting in early 2028, and one training ship for the Royal Navy of Oman.
Other Operations and Expansion
SDHI also completed seven ship repair and refit projects, including that of the Indian Coast Guard's pollution control vessel ICGS Samudra Pavak, delivered ahead of schedule. The company began steel cutting for five barge unloaders intended for L&T Mines and Minerals and signed a memorandum of understanding with classification society DNV. It also received in-principle approval for a shipyard expansion under the Shipbuilding Development Scheme, which includes a 600-ton Goliath crane and a 40-ton ELL crane. CEO Vipin Kumar Saxena stated that the company expects demand for shipbuilding in India to grow over the next 12 to 18 months, driven by government policies and defense programs.
New Contract in Dispute
Separately, SDHI emerged as the lowest bidder in a Shipping Corporation of India (SCI) tender to build four medium-range product tankers, priced at $48.9 million per unit, about $4 million below the bid submitted by rival state-owned shipyard Cochin Shipyard.
