Mazagon Dock Shipbuilders (MAZDOCK) Q1 25/26 earnings summary

Executive summary

• Delivered 806 vessels since 1960, including 31 warships and 8 submarines, and celebrated 250 years of operations with major milestones such as tri-commissioning of three frontline combatants in January 2025.

• Only Indian shipyard to build destroyers, conventional submarines, and corvettes; conferred Navratna status.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2025, were approved by the Board on July 28, 2025.

• The company operates in the defense equipment sector and is exempt from segment reporting.

Financial highlights

• Standalone Q1 FY26 revenue from operations: ₹3,174 Cr, up from ₹2,915 Cr in Q1 FY25 and ₹2,626 Cr in Q4 FY25.

• Consolidated Q1 FY26 revenue: ₹3,484 Cr, up from ₹2,915 Cr in Q1 FY25 and ₹3,174 Cr in Q4 FY25.

• Standalone PAT for Q1 FY26: ₹666 Cr, up from ₹327 Cr in Q1 FY25 and ₹567 Cr in Q4 FY25.

• Consolidated PAT for Q1 FY26: ₹696 Cr, up from ₹370 Cr in Q1 FY25 and ₹567 Cr in Q4 FY25.

• Basic and diluted EPS (consolidated) for Q1 FY26 was ₹11.21, compared to ₹17.26 in Q1 FY25.

Outlook and guidance

• Healthy order book as of June 30, 2025, with major projects including destroyers, stealth frigates, and submarines for the Indian Navy.

• Continued focus on indigenization and timely delivery of defense vessels.

• Financial statements have been prepared in accordance with Indian Accounting Standards and reviewed by statutory auditors.