Swan Defence Q2 FY27 Results: ₹546.44 Crore Profit Includes ₹563.15 Crore Tax-Provision After Amalgamation
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Swan Defence and Heavy Industries reported Q2 FY27 profit after tax of ₹566.44 crore. This was largely due to a ₹563.15 crore tax-provision write-back during the period. H1 revenue jumped to ₹99.46 crore, but the company remained loss-making before tax.
Swan Defence and Heavy Industries Limited (SDHIL) reported a consolidated profit after tax (PAT) of ₹566.44 crore for Q2 FY27. It had reported a loss of ₹41.66 crore in Q1 FY27 and a loss of ₹0.55 crore in Q2 FY26.
The profit was largely driven by a ₹563.15 crore write-back of an excess tax provision following the amalgamation of TOPL. Before this tax adjustment, consolidated profit before tax was only ₹3.21 crore. Revenue from operations rose to ₹68.85 crore from ₹39.57 crore a year earlier.
On 12 October 2026, the Swan Defence share price closed at ₹2,931.10, which was a 4% increase from its previous close.
Swan Defence H1 FY27 Performance
For the six-month period that ended on 30 September 2026, consolidated revenue from operations increased to ₹99.46 crore from ₹39.99 crore. However, the company reported a pre-tax loss of ₹38.37 crore, compared with a loss of ₹3.48 crore in the corresponding period last year.
Swan Defence H1 PAT stood at ₹524.78 crore against a loss of ₹15.17 crore a year earlier. This, too, was primarily due to the tax-provision write-back. The headline profit therefore does not represent the company’s underlying operating earnings.
What Changed After The TOPL Amalgamation?
The amalgamation of Triumph Offshore Private Limited (TOPL) became effective on 17 September 2026. It has an appointed date of 1 April 2024. The company restated comparative results to reflect the merger. A tax provision of ₹563.15 crore carried forward from TOPL’s books was written back after reassessment of the merged tax position.
The filing also records a net surplus of ₹292.67 crore credited to retained earnings up to the effective date after amalgamation adjustments. The company’s revenue has improved, but pre-tax performance remains weak.
Also Read - Swaraj Engines Q2 FY27 Results: Profit Rises 21.9% To ₹60.57 Crore As Quarterly Engine Sales Increase
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
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