Swan Defence Q2 FY27 results on 12 Oct 2026: Key numbers

The key update investors are tracking

Swan Defence and Heavy Industries Limited has scheduled its next earnings event for 12 October 2026, putting focus back on a company that has reported a sharp fall in quarterly operating revenue and continued losses. The company, formerly Reliance Naval and Engineering Limited, is expected to place its unaudited financial results before the board on that date. The upcoming results will cover the quarter and half year ended 30 September 2026.

The previous quarterly results were announced on 11 August 2026 for the quarter ended 30 June 2026 (Q1 FY27). Those numbers showed revenue from operations of ₹30.61 crore and a consolidated loss of ₹41.68 crore. The announcement also reiterated that there is no quarterly earnings forecast data available for the stock.

Next results date and board meeting details

The company will hold a board meeting on Monday, 12 October 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. A separate schedule shared for the event mentioned the company would report Q2 FY27 results at 12:15 PM IST on 12 October 2026.

For context, the last earnings date for Q1 FY27 was 11 August 2026. The upcoming date is therefore the next formal milestone for investors looking for updated operating and cash flow trends, especially given the low base of operations reflected in the June quarter.

Q1 FY27 headline numbers (quarter ended June 2026)

For Q1 FY27 (quarter ended 30 June 2026), Swan Defence reported revenue from operations of ₹30.61 crore. The period also recorded a net loss of ₹41.68 crore. A separate standalone disclosure cited a net loss of ₹41.60 crore, while consolidated losses were stated at ₹41.68 crore.

The company’s total income for the quarter was ₹41.61 crore, supported significantly by other income of ₹11.00 crore. This other income partially offset the impact of low core business revenue in the quarter. Earnings per share (EPS) on a standalone basis were negative ₹7.90, compared with negative ₹5.92 in Q1 FY26.

How the quarterly and yearly comparisons looked

The dataset accompanying the Q1 FY27 figures showed large percentage swings, reflecting volatility and a low base effect. Revenue was shown at about ₹30 crore, with QoQ change of -87.04% and YoY change of +7,188.10%. Gross profit was shown at about ₹-36 crore, with QoQ change of -86.52% and YoY change of -22.77%.

Net profit was shown at about ₹-41 crore, with QoQ change of -70.83% and YoY change of +33.46% in one summary panel. However, in the same broader set of disclosures and comparisons, the net loss was described as widening from ₹-31 crore in Q1 FY26 to ₹-41 crore in Q1 FY27, which corresponds to a deterioration of 33.46% year-on-year.

Given the way the numbers are presented across summaries, the consistent takeaway from the June quarter is that the company reported a loss of around ₹41-42 crore, with revenue from operations around ₹30-31 crore.

Standalone vs consolidated: what was stated

The June quarter updates referenced both standalone and consolidated results. On a standalone basis, Swan Defence reported a net loss of ₹41.60 crore for Q1 FY27, compared with a loss of ₹31.17 crore in Q1 FY26. On a consolidated basis, losses were stated at ₹41.68 crore.

Revenue from operations was stated at ₹30.61 crore, while total income was stated at ₹41.61 crore, supported by other income of ₹11.00 crore. The financial results were reviewed by the Audit Committee and approved by the Board of Directors on 11 August 2026, chaired by Chairman and Managing Director Nikhil Merchant. The statutory auditors, N. N. Jambusaria & Co., Chartered Accountants, conducted a limited review of the results.

Stock reaction and reported market snapshot

A market summary in the provided data noted that Swan Defence shares slipped 1.49% to ₹2,584.8 after the results update, while also citing revenue from operations of ₹30.61 crore. Another snapshot referenced a price of ₹2,600 on 11 August 2026, the day the quarterly results were declared.

Some market commentary text described “net profit plunged by 70.68% to ₹41.68 crore” alongside the revenue drop. But the company’s own Q1 FY27 reporting and comparisons in the same dataset describe the figure as a net loss of about ₹41-42 crore. Investors typically interpret this as continued losses despite a higher revenue base compared with the prior-year quarter.

Amalgamation process with Triumph Offshore

Alongside the quarterly performance, the company has been continuing its amalgamation process with Triumph Offshore Private Limited. The scheme was approved by the NCLT, and the NCLT Ahmedabad Bench sanctioned the merger of Triumph Offshore into Swan Defence on 6 August 2026.

While the operational and financial impact of such corporate actions depends on integration and execution, the update is relevant because it signals an ongoing restructuring effort. The September-quarter board meeting and results will be watched for any additional details that are formally disclosed alongside the financial statements.

Key numbers at a glance

Timeline: what happened and what is next

Market impact and why the October date matters

The October 12 event matters mainly because it brings updated numbers for the September quarter and the first half of FY27, following a June quarter that combined low operating revenue with significant losses. Investors will look for clarity on whether revenue levels stabilise, how costs move relative to revenue, and whether other income continues to meaningfully contribute to total income.

The company’s disclosures also state that there is no quarterly earnings forecast data for the stock, which can increase sensitivity to the reported numbers on the day of results. With the last reported EPS at negative ₹7.90 (standalone) and losses remaining large relative to revenue, even small shifts in operations or non-operating income can materially change the quarterly picture.

Conclusion

Swan Defence and Heavy Industries will hold its next results-related board meeting on 12 October 2026 to approve unaudited standalone and consolidated financials for the quarter and half year ended 30 September 2026. The last declared quarter (Q1 FY27) reported revenue from operations of ₹30.61 crore and a loss of about ₹41.68 crore, with total income supported by ₹11.00 crore of other income. The next update will be the confirmed checkpoint for any changes in operating performance and any additional disclosures that accompany the financial statements.