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Swan Corp Q2 FY27 results: net profit ₹565.54 crore vs ₹5.86 crore loss, revenue down 8.1%
Swan Corp Limited reported consolidated revenue of ₹1,046 crore for Q2 FY27, down 8.1% from Q2 FY26, while EBITDA moved to a loss of ₹4.50 crore from a profit of ₹5.04 crore. Net profit was ₹565.54 crore and basic EPS was ₹18.04, compared with a net loss of ₹5.86 crore and EPS of -₹0.19 in the year-ago quarter; on a standalone basis, revenue was ₹51.05 crore and profit after tax was ₹3.9 crore.
Key points
- Consolidated revenue was ₹1,046 crore in Q2 FY27, down 8.1% from ₹1,138 crore in Q2 FY26 and up 3.2% from ₹1,014 crore in Q1 FY27.
- EBITDA was a loss of ₹4.50 crore in Q2 FY27, compared with a profit of ₹5.04 crore a year earlier, while the margin was -0.4% against 0.4%.
- Net profit was ₹565.54 crore in Q2 FY27 against a net loss of ₹5.86 crore in Q2 FY26 and a net loss of ₹35.99 crore in Q1 FY27.
- Basic EPS was ₹18.04 in Q2 FY27, compared with -₹0.19 in Q2 FY26 and -₹1.15 in Q1 FY27.
- The stock was up 1.4% on the reaction day from its pre-results close, against a 0.4% median move for the Petrochemicals industry.
How did Swan Corp perform in Q2 FY27?
Swan Corp reported consolidated revenue of ₹1,046 crore in Q2 FY27, down 8.1% from ₹1,138 crore in Q2 FY26 and up 3.2% from ₹1,014 crore in Q1 FY27. EBITDA was a loss of ₹4.50 crore, with a margin of -0.4%, compared with a profit of ₹5.04 crore and a 0.4% margin in the year-ago quarter. EBITDA also moved lower from a loss of ₹3.81 crore in Q1 FY27.
The consolidated profit before tax was ₹8.18 crore, against ₹0.15 crore in Q2 FY26 and a loss of ₹34.88 crore in Q1 FY27. Net profit was ₹565.54 crore, compared with a net loss of ₹5.86 crore in Q2 FY26 and a net loss of ₹35.99 crore in Q1 FY27. Basic EPS was ₹18.04, against -₹0.19 in Q2 FY26 and -₹1.15 in Q1 FY27. On a standalone basis, revenue was ₹51.05 crore and profit after tax was ₹3.9 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,046 | 1,014 | 1,138 | −8.1% | +3.2% |
| Other income | 76.23 | 33.97 | 47.01 | +62.2% | +124.4% |
| Total expenses | 1,114 | 1,083 | 1,185 | −6.0% | +2.9% |
| EBITDA | −4.50 | −3.81 | 5.04 | turned to loss | |
| EBITDA margin | -0.4% | -0.4% | 0.4% | −0.8 pp | +0.0 pp |
| Profit before tax | 8.18 | −34.88 | 0.15 | +5353.3% | turned to profit |
| Tax | −558.03 | 1.03 | 6.47 | ||
| Net profit | 565.54 | −35.99 | −5.86 | turned to profit | turned to profit |
| EPS (₹) | 18.04 | −1.15 | −0.19 | turned to profit | turned to profit |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Swan Corp's costs and profit?
Total expenses fell ₹71.27 crore to ₹1,114 crore in Q2 FY27 from ₹1,185 crore in Q2 FY26. Cost of materials consumed fell ₹143.27 crore to ₹946.17 crore, while employee cost rose ₹10.67 crore to ₹37.86 crore, finance costs rose ₹9.86 crore to ₹31.33 crore, depreciation rose ₹1.80 crore to ₹32.22 crore and other expenses rose ₹20.60 crore to ₹65.07 crore. Other income increased ₹29.22 crore to ₹76.23 crore.
The reported result included no exceptional item. Tax moved to a credit of ₹558.03 crore from tax expense of ₹6.47 crore in Q2 FY26, while profit before tax increased ₹8.03 crore to ₹8.18 crore. Against Q1 FY27, other income rose ₹42.26 crore to ₹76.23 crore, total expenses increased ₹31.34 crore to ₹1,114 crore and tax moved to a credit of ₹558.03 crore from tax expense of ₹1.03 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 946.17 | 1,089 | −143.27 | −13.2% |
| Employee cost | 37.86 | 27.19 | +10.67 | +39.2% |
| Finance costs | 31.33 | 21.47 | +9.86 | +45.9% |
| Depreciation | 32.22 | 30.42 | +1.80 | +5.9% |
| Other expenses | 65.07 | 44.47 | +20.60 | +46.3% |
| Total expenses | 1,114 | 1,185 | −71.27 | −6.0% |
| Other income | 76.23 | 47.01 | +29.22 | +62.2% |
| Tax | −558.03 | 6.47 | −564.50 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹2,059.64 crore, down ₹291.89 crore or 12.4% from ₹2,351.53 crore in H1 FY26. Total income was ₹2,169.83 crore, down ₹287.6 crore or 11.7% from ₹2,457.43 crore, while profit before tax moved from ₹33.41 crore to a loss of ₹26.69 crore.
Profit after tax for H1 FY27 was ₹529.55 crore, compared with ₹21.14 crore in H1 FY26, and basic EPS was ₹16.89 against ₹0.67. The consolidated results therefore showed lower revenue and a loss before tax, alongside a higher profit after tax and EPS.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,060 | 2,352 | −12.4% |
| Profit before tax | −26.69 | 33.41 | turned to loss |
| Net profit | 529.55 | 21.14 | +2405.0% |
| EPS (₹) | 16.89 | 0.67 | +2420.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹13,031.93 crore, compared with ₹13,853.0 crore at 31 March 2026. Total equity was ₹9,202.74 crore against ₹9,194.73 crore, borrowings were ₹1,908.62 crore against ₹2,103.49 crore, and cash was ₹187.27 crore against ₹664.77 crore.
For H1 FY27, operating cash flow was ₹108.94 crore, compared with negative ₹274.01 crore in H1 FY26. Investing cash flow was negative ₹181.31 crore against positive ₹273.26 crore, financing cash flow was negative ₹311.81 crore against negative ₹337.34 crore, and capital expenditure was ₹105.28 crore against ₹166.26 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 13,032 | 13,853 |
| Total equity | 9,203 | 9,195 |
| Borrowings | 1,909 | 2,103 |
| Cash and equivalents | 187.27 | 664.77 |
| Inventories | 1,220 | 1,213 |
| Trade receivables | 1,448 | 2,246 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 108.94 | −274.01 |
| Cash from investing | −181.31 | 273.26 |
| Cash from financing | −311.81 | −337.34 |
| Capital expenditure | 105.28 | 166.26 |
Source: Company's results filing (XBRL).
How has Swan Corp done over the last 8 quarters?
Revenue over the reported quarters peaked at ₹1,908.19 crore in Q3 FY25 and was lowest at ₹855.75 crore in Q4 FY25. It subsequently moved from ₹1,013.75 crore in Q1 FY27 to ₹1,045.89 crore in Q2 FY27, indicating a sequential increase, while remaining below ₹1,138.34 crore in Q2 FY26.
Profit after tax reached ₹561.95 crore in Q3 FY25 and bottomed at a loss of ₹35.99 crore in Q1 FY27 before reporting ₹565.54 crore in Q2 FY27. The EBITDA margin was highest at 2.2% in Q1 FY26 and Q3 FY26, while the lowest reported margin was -34.4% in Q3 FY25; Q2 FY27 was -0.4%.
Which businesses drove the quarter?
Distribution and Development reported revenue of ₹857.78 crore and EBIT of ₹4.21 crore, with an EBIT margin of 0.5%. Shipyard reported revenue of ₹68.85 crore and EBIT of ₹29.42 crore, with an EBIT margin of 42.7%. Construction/Other reported revenue of ₹41.68 crore and EBIT of ₹11.42 crore, while its EBIT margin was 27.4%.
Textile reported revenue of ₹48.3 crore and EBIT of ₹1.95 crore, with an EBIT margin of 4.0%. Warehousing reported revenue of ₹29.28 crore and an EBIT loss of ₹8.34 crore, with an EBIT margin of -28.5%. Energy reported EBIT of ₹0.84 crore, while Manufacturing reported no revenue and no EBIT. Year-ago segment revenue and EBIT figures were not provided.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Segment - Textile | 48.30 | 1.95 | 4.0% | |
| Segment - Energy | 0 | 0.84 | ||
| Segment - Construction/Other | 41.68 | 11.42 | 27.4% | |
| Segment - Distribution and Development | 857.78 | 4.21 | 0.5% | |
| Segment - Warehousing | 29.28 | −8.34 | -28.5% | |
| Segment - Manufacturing | 0 | 0 | ||
| Segment - Shipyard | 68.85 | 29.42 | 42.7% |
Source: Company's results filing (XBRL segment data).
How did Swan Corp shares react?
The filing was announced after market hours on 4 November 2026. From the price when the filing appeared, the stock was up 0.8% after 5 minutes, down 0.2% after 15 minutes and up 0.6% after 30 minutes. On the reaction day, it closed up 1.4% from its pre-results close, while the Petrochemicals industry median was up 0.4%, giving an excess-sector move of 1.0 percentage points; next-day and five-day reactions were not available.
| After the filing | Stock | Petrochemicals median |
|---|---|---|
| 5 minutes | +0.8% | |
| 15 minutes | −0.2% | |
| 30 minutes | +0.6% | |
| Reaction day | +1.4% | +0.4% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 13 August 2026 | −0.7% |
| 29 May 2026 | −3.3% |
| 6 February 2026 | +0.2% |
| 14 November 2025 | +0.9% |
| 14 August 2025 | −1.7% |
| 30 May 2025 | −4.6% |
| 14 February 2025 | −0.1% |
| 14 November 2024 | +6.5% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Swan Corp's revenue in Q2 FY27?
Revenue from operations was ₹1,046 crore, down 8.1% from ₹1,138 crore in Q2 FY26 (consolidated).
Did Swan Corp make a profit in Q2 FY27?
Yes. Net profit was ₹565.54 crore, against a net loss of ₹5.86 crore in Q2 FY26.
What was Swan Corp's EPS in Q2 FY27?
Basic earnings per share were ₹18.04, against a loss of ₹0.19 in Q2 FY26.
How did Swan Corp shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.4% from the previous close; the median Petrochemicals stock moved +0.4%.
When did Swan Corp announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation For The Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2026. (BSE, 27 October 2026) · PDF
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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