Swan Defence And Heavy Industries Ltd
Swan Defence Reports H1 FY27 Revenue from Operations of INR 99.46 Cr, PAT INR 524.78 Cr
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 12 Oct 2026, 09:20 PM IST · BSE ID: 799aa88b-0390-44ef-89bf-3913c3c7ab97
View Original BSE Filing (PDF)
💡
In Simple Terms
The company’s half-year revenue increased significantly, it turned a profit, and secured new large shipbuilding orders.
🤖 AI Summary
- Swan Defence reported H1 FY27 Revenue from Operations of INR 99.46 Cr, up 148.71% YoY.
- Reported PAT for H1 FY27 stood at INR 524.78 Cr, compared to (INR 15.17) Cr in H1 FY26.
- Firm order book reached approximately ₹6,500 crore as of September 30, 2026, providing revenue visibility through FY31.
- New orders secured include four ammonia dual-fuel bulk carriers for Energy ONE Limited and four harbour tugs for Svitzer.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Revenue from Operations H1 FY27
99.46 INR Cr
Revenue from Operations H1 FY26
39.99 INR Cr
Total Income H1 FY27
167.87 INR Cr
Total Income H1 FY26
111.49 INR Cr
Reported PBT H1 FY27
(38.37) INR Cr
Reported PBT H1 FY26
(3.48) INR Cr
Reported PAT H1 FY27
524.78 INR Cr
Reported PAT H1 FY26
(15.17) INR Cr
Order Book as of Sep 30, 2026
₹6,500 crore
🏢 How This Affects the Company
The firm order book of approximately ₹6,500 crore provides revenue visibility through FY31, strengthening the company's long-term business pipeline. Securing export orders for ammonia dual-fuel bulk carriers and harbour tugs expands its market presence and product offerings.
Revenue from Operations increased to INR 99.46 Cr in H1 FY27 from INR 39.99 Cr in H1 FY26. The company reported a net profit of INR 524.78 Cr in H1 FY27, a significant improvement from a loss of (INR 15.17) Cr in H1 FY26.
The company completed seven ship repair and refit projects and commenced steel cutting for five barge unloaders, indicating scaling up of execution. Capacity expansion is planned through brownfield investment under the Shipbuilding Development Scheme, including a 600-tonne Goliath crane.
The completion of the resolution plan and settlement of obligations to the Committee of Creditors removes a major financial overhang. The in-principle approval for brownfield expansion and state policy incentives aim to reduce operational risks and enhance competitiveness.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this financial results disclosure.
👤
Who Is Affected
Shareholders of Swan Defence and Heavy Industries Limited are affected by the company's financial performance, with H1 FY27 PAT at INR 524.78 Cr and a firm order book of approximately ₹6,500 crore.
🔍
Management Signal
Management's comments indicate a focus on scaling execution, delivering on current orders, and capitalizing on growing domestic and international shipbuilding demand for sustained growth.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q3 FY27 financial results — verify sustained revenue and profit trends.
Updates on capacity expansion under Shipbuilding Development Scheme.
Further details on order execution and delivery timelines for new projects.
MEDIUM RISK
Despite significant PAT, the company reported negative PBT, indicating operational profitability challenges requiring monitoring.
💡 Investor Takeaway
Swan Defence and Heavy Industries Limited reported H1 FY27 Revenue from Operations of INR 99.46 Cr, a 148.71% YoY increase. Reported PAT was INR 524.78 Cr, compared to a loss of (INR 15.17) Cr in H1 FY26. The firm order book stood at approximately ₹6,500 crore.
⚖️ Strengths & Concerns
✅ Positives
- Revenue from Operations increased by 148.71% YoY to INR 99.46 Cr in H1 FY27, indicating strong top-line growth.
- Reported PAT shifted to a profit of INR 524.78 Cr in H1 FY27 from a loss of (INR 15.17) Cr in H1 FY26, signaling financial turnaround.
⚠️ Concerns
- Reported PBT remained negative at (INR 38.37) Cr in H1 FY27, worsening from (INR 3.48) Cr in H1 FY26.
- No specific details regarding the composition of the large Reported PAT (INR 524.78 Cr) in relation to the PBT (INR 38.37 Cr) were provided in the press release.
📅 Company Track Record
Swan Defence, formerly Reliance Naval and Engineering Limited, reported Q2 FY27 standalone net profit of INR 56,710.48 Lakhs. The company previously reported FY26 Total Income of ₹440 Crores and an order book of ~$500M. The resolution plan has been completed and CoC obligations settled.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was Swan Defence and Heavy Industries Limited's Revenue from Operations in H1 FY27?
Swan Defence and Heavy Industries Limited reported Revenue from Operations of INR 99.46 Cr for the half year ended September 30, 2026, compared to INR 39.99 Cr in H1 FY26.
What was the Reported PAT for Swan Defence and Heavy Industries Limited in H1 FY27?
The Reported PAT for Swan Defence and Heavy Industries Limited was INR 524.78 Cr for H1 FY27, compared to a loss of (INR 15.17) Cr in H1 FY26.
What is Swan Defence and Heavy Industries Limited's order book size as of September 30, 2026?
Swan Defence and Heavy Industries Limited's firm order book stood at approximately ₹6,500 crore as of September 30, 2026, providing revenue visibility through FY31.
Which new orders did Swan Defence and Heavy Industries Limited secure in H1 FY27?
SDHI secured an order for four 92,500 DWT ammonia dual-fuel bulk carriers from Energy ONE Limited and four TRAnsverse 3200 harbour tugs from Svitzer.
Questions based on this BSE filing only. For information purposes.