Synopsis:
Mazagon Dock Shipbuilders is under scrutiny following the release of its Q1FY26 results, which showed robust sequential profit growth in spite of a decline in revenue. With a long history and a key position in India’s defense industry, the business keeps up its strong performance.
A prominent large-cap defence stock is in the spotlight today following the announcement of its Q1FY26 financial results. Read the article below for a detailed overview of the company’s performance.
With a market capitalization of Rs. 1,07,830 crore, the shares of Mazagon Dock Shipbuilders Ltd were trading at Rs. 2,673, down by 4.2 percent from its previous closing price of Rs. 2,789.90.
Q1FY26 Results
Mazagon Dock Shipbuilders Ltd reported Rs. 2,626 crore in revenue for the first quarter of FY26, a moderate 11.41 percent increase over the Rs. 2,357 crore for the same period in FY25. However, from Rs. 3,174 crore in Q4 FY25, revenue decreased by about 17.27 percent sequentially.
The company’s operating profit stood at Rs. 302 crore in Q1FY26, increased by 235.55 percent compared to Rs. 90 crore in Q4FY25, whereas decreased by 52.96 percent compared to Rs. 642 crore in Q1FY25.
The consolidated net profit for the first quarter of FY26 was Rs. 452 crore, which was 39 percent higher than the Rs. 325 crore reported in the previous quarter whereas 35 percent declined year over year from the Rs. 696 crore in Q1 FY25.
Profit growth was also reflected in earnings per share (EPS), which increased to approximately Rs. 11.21 in Q1 FY26 from Rs. 8.06 in Q4 FY25 but decreased from Rs. 17.26 in Q4 FY25.
About the company
Founded in 1774, Mumbai-based Mazagon Dock Shipbuilders Limited (MDL) is one of India’s leading shipyards. Since its incorporation in 1934 and subsequent government takeover in 1960, the company has developed into a multi-unit, multi-product enterprise serving both domestic and foreign markets. Since 1960, MDL has delivered 805 vessels, including a variety of civilian ships and offshore structures, as well as 30 cutting-edge warships and 8 submarines.
In addition to working with foreign partners on significant projects like Project Destroyer, Scorpene Submarine, and Frigate Ships, it is the only Indian shipyard to have constructed both destroyers and conventional submarines for the Indian Navy.
With the capacity to build ships up to 40,000 DWT, MDL has invested in infrastructure, including a 300-ton Goliath crane. MDL is renowned for its inventiveness, state-of-the-art facilities, and strategic significance in India’s defense manufacturing sector.
Written by Akshay Sanghavi
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