Gujarat-based Swan Defence and Heavy Industries Ltd (SDHI) reported a net profit of ₹566 crore for the second quarter of FY27, compared with a loss of ₹55 lakh in the corresponding period last year, largely aided by a one-time write-back of an earlier tax provision of ₹563 crore.
Revenue from operations rose 72.5 per cent year-on-year to ₹69 crore in the quarter ended September 30, 2026, from ₹40 crore in the year-ago period. SDHI is engaged in shipbuilding, ship repairs and heavy fabrication at Pipavav in Gujarat.
The company recorded a tax provision write-back of ₹563 crore under the head “excess provision of earlier years written back”. The adjustment followed a reassessment of tax provisions carried in the books of the transferor company, Triumph Offshore Pvt Ltd, after its amalgamation with SDHI, taking into account the merged financial accounts and the combined entity’s tax position.
On a half-yearly basis, revenue from operations nearly doubled to ₹99 crore in the six months ended September. The company also reported a net profit of ₹525 crore for the first half of FY27, against a net loss of ₹15.16 crore in the year-ago period. The reported profit for the six-month period also reflects the tax provision write-back.
Published on October 12, 2026
