Mazagon Dock reports strong Q2 FY26 earnings and robust order pipeline

Mazagon Dock Shipbuilders Limited reported standalone revenue from operations of INR 2,929 crores for Q2 FY26, a 6% increase over the previous year, with total income reaching INR 3,205 crores. Profit Before Tax (PBT) stood at INR 939 crores, and Profit After Tax (PAT) was INR 715 crores, marking a 27% rise year-over-year. Consolidated figures showed a PBT of INR 934 crores and a PAT of INR 749 crores, with an earnings per share of INR 18.58. The company's net worth increased by 22% to INR 8,910 crores.

The company anticipates full-year revenue for FY26 to be approximately INR 12,500 crores, with a projected 5% growth for the following year. MDL's order book currently stands at around INR 27,415 crores, with expectations to exceed INR 1 lakh crores by FY27 due to significant defense projects, including potential additional P75 submarines and P75I contracts, as well as new commercial vessel opportunities.

MDL is expanding its capacity with a planned INR 5,000 crores investment in a greenfield shipyard in Tuticorin for commercial shipbuilding. Additionally, the acquisition of Colombo Dockyard is underway, aiming to boost commercial shipbuilding and repair revenue by 50% to INR 1,500 crores within the next year.