Board approved unaudited Q2 and H1 FY27 results; limited review concludes no material misstatement
Board met on 4th November, 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30th September, 2026.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,04,588.80 | 1,13,834.26 | −8.1% | 1,01,374.79 | +3.2% |
| Total income | 1,12,211.56 | 1,18,535.03 | −5.3% | 1,04,771.30 | +7.1% |
| Profit before tax | 751.69 | 61.27 | — | (3,495.85) | — |
| Profit after tax | 56,554.38 | (586.00) | — | (3,599.22) | — |
| Total comprehensive income | 58,270.45 | 4,007.03 | — | (3,758.67) | — |
| Basic EPS | 18.04 | (0.19) | — | (1.15) | — |
- Total Income YoY Change
- −5.3%
- Period
- 30.09.2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
Notes to the results
- NCLT Ahmedabad approved amalgamation of Triumph Offshore Pvt Ltd (TOPL) with step-down subsidiary Swan Defence and Heavy Industries Ltd; effective September 17, 2026, appointed date April 01, 2024.
- Post-amalgamation, TOPL operations previously classified under the Energy segment have been reclassified to the Shipyard segment.
- Standalone: Company's investment in TOPL equity extinguished and replaced by non-convertible redeemable preference shares issued by SDHI.
What the board decided
Swan Corp Ltd's board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30th September, 2026. The Limited Review Report of statutory auditors N. N. Jambusaria & Co. was placed with the results. The Audit Committee reviewed the results at a meeting held before the board meeting.
What the auditor concluded
The review was carried out under the Standard on Review Engagements (SRE) 2410, which gives moderate assurance and is narrower in scope than a full audit. For both the standalone and the consolidated statement, nothing came to the auditor's attention that suggests material misstatement or non-disclosure as required by the listing regulations. There is no qualification and no going-concern remark in the conclusion.
The consolidated review also relies on the report of other auditors for one subsidiary, and on unaudited results approved by management for one foreign subsidiary; the auditor states that the conclusion is not modified on this account.
Standalone, quarter ended 30.09.2026 (₹ in Lakhs)
- Revenue from operations: 5,105.25
- Net Profit after Tax: 390.06
- Earnings per share (basic & diluted): 0.12
Consolidated, quarter ended 30.09.2026 (₹ in Lakhs)
- Revenue from operations: 1,04,588.80
- Profit/(Loss) before Tax: 751.69
- Net Profit/(Loss) after Tax: 56,554.38
- Earnings per share (basic & diluted): 18.04
One point to keep in mind while reading the consolidated set: the tax line in that statement is a credit, so the post-tax figure is much larger than the pre-tax figure. The revenue and profit-before-tax lines are the better guide to how the businesses traded in the quarter.
Segments
The company reports two segments, Textile and Construction/Others, and Textile is the larger revenue contributor for the quarter. The segment table carries revenue, results and capital employed for each of these.
Amalgamation note
A note explains that Triumph Offshore Private Limited, a subsidiary, has been amalgamated with Swan Defence and Heavy Industries Limited, a step-down subsidiary, under a scheme approved by the NCLT Ahmedabad Bench. The company's investment in the equity shares of that subsidiary has been replaced by non-convertible redeemable preference shares issued by the step-down subsidiary.
What this means for a retail investor
- This is a scheduled quarterly results disclosure, and the numbers have been looked over by an independent auditor in a limited review.
- The clean review conclusion means the auditor has not flagged the reported numbers.
- Standalone and consolidated figures differ widely because the consolidated statement combines the parent with a list of subsidiaries named in the auditor's report.
- The segment table shows how much of the business comes from Textile versus Construction/Others, which helps in reading where the revenue is coming from.
Also from Swan Corp
Promoter creates pledge of 85,00,000 shares as security for a group entity's financial facility
3 Nov 2026
Promoter Swan Engitech pledges 85,00,000 shares; 78.12% of its holding now encumbered
3 Nov 2026
Board meeting on 4 November 2026 to approve Q2 and H1 FY27 unaudited results
27 Oct 2026
More numbers
- Standalone Revenue from operations, quarter ended 30.09.2026 (₹ in Lakhs)5,105.25
- Standalone Net Profit after Tax, quarter ended 30.09.2026 (₹ in Lakhs)390.06
- Standalone Earnings per share (basic & diluted), quarter ended 30.09.20260.12
- Total income, latest quarter1,12,211.56 (₹ in Lakhs)
- Total income, year-ago quarter1,18,535.03 (₹ in Lakhs)
- Total income, previous quarter1,04,771.30 (₹ in Lakhs)
- Total comprehensive income, latest quarter58,270.45 (₹ in Lakhs)
- Total comprehensive income, year-ago quarter4,007.03 (₹ in Lakhs)
- Total comprehensive income, previous quarter(3,758.67) (₹ in Lakhs)
- Profit after tax, latest quarter56,554.38 (₹ in Lakhs)
- Profit after tax, year-ago quarter(586.00) (₹ in Lakhs)
- Profit after tax, previous quarter(3,599.22) (₹ in Lakhs)
- Revenue from operations, latest quarter1,04,588.80 (₹ in Lakhs)
- Revenue from operations, year-ago quarter1,13,834.26 (₹ in Lakhs)
- Revenue from operations, previous quarter1,01,374.79 (₹ in Lakhs)
- Profit before tax, latest quarter751.69 (₹ in Lakhs)
- Profit before tax, year-ago quarter61.27 (₹ in Lakhs)
- Profit before tax, previous quarter(3,495.85) (₹ in Lakhs)
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