Mazagon Dock Shipbuilders (MAZDOCK) Q3 25/26 earnings summary

Executive summary

• Celebrated 250 years of shipbuilding excellence, delivering 808 vessels since 1960, including destroyers, submarines, and frigates for the Indian Navy.

• Consolidated revenue from operations for Q3 FY2025 was ₹360,109 lakhs, up from ₹314,362 lakhs in Q3 FY2024, and for the nine months ended December 2025, revenue was ₹915,592 lakhs, up from ₹825,747 lakhs year-over-year.

• Consolidated net profit for Q3 FY2025 was ₹87,978 lakhs, compared to ₹74,948 lakhs in Q3 FY2024; for the nine months, net profit was ₹208,141 lakhs, up from ₹198,692 lakhs year-over-year.

• Achieved major project milestones: delivery and commissioning of multiple stealth frigates and destroyers ahead of schedule.

• Standalone results closely mirror consolidated performance, with minor differences due to associate contributions.

Financial highlights

• Standalone Q3 FY 2025-26 revenue from operations: ₹3,863 Cr, up from ₹3,601 Cr in Q3 FY 2024-25.

• Standalone EBITDA for Q3 FY 2025-26: ₹1,149 Cr, up from ₹1,108 Cr year-over-year.

• Standalone PAT for Q3 FY 2025-26: ₹939 Cr, up from ₹837 Cr year-over-year.

• Total consolidated income for Q3 FY2025 was ₹386,290 lakhs, up from ₹343,431 lakhs in Q3 FY2024.

• Earnings per share (EPS) for Q3 FY2025 was ₹21.81, compared to ₹20.01 in Q3 FY2024.

Outlook and guidance

• Healthy order book with major projects for the Indian Navy and ONGC, including destroyers, frigates, and submarines.

• Strategic partnerships and MoUs signed for future submarine and landing platform dock projects.

• The Board declared an interim dividend of ₹7.50 per equity share.