Mazagon Dock Shipbuilders' Q2 FY 2025-26 Quarterly Results

Result Summary

• Mazagon Dock Shipbuilders Ltd reported a 9.8% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter-ended Sep (Q2 FY 2025-26). On a year-on-year (YoY) basis, it witnessed a growth of 6.3%.
• Its expenses for the quarter were up by 26.7% QoQ and 0.9% YoY.
• The net profit increased 65.8% QoQ and increased 28.1% YoY.
• The earnings per share (EPS) of Mazagon Dock Shipbuilders Ltd stood at 18.58 during Q2 FY 2025-26.

Financial Statments for Q2 FY 2025-26

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Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results

Company Overview

Mazagon Dock Shipbuilders Ltd is among India's leading public sector shipyards, primarily engaged in the construction and repair of warships and submarines for the Indian Navy and other clients. The company operates in the defense sector, producing complex ships and submarines, which are critical to national security. Over the years, Mazagon Dock Shipbuilders has established itself as a key player in the shipbuilding industry, contributing significantly to the naval defense capabilities of India. Any recent major developments pertaining to the company are not available in the provided data, thus limiting further insights into its current strategic direction or product innovations.

Revenue

In the second quarter of fiscal year 2026, Mazagon Dock Shipbuilders Ltd reported a total income of ₹3,199.87 crores. This was an increase from the ₹2,914.90 crores reported in the previous quarter (Q1FY26), reflecting a quarter-over-quarter (QoQ) growth of 9.8%. Comparing with the same quarter of the previous year (Q2FY25), where the total income was ₹3,011.11 crores, the year-over-year (YoY) increase was 6.3%. These figures indicate a growth trajectory in revenue generation for the company on both a quarterly and annual basis.

Profitability

The financial data for Q2FY26 shows that Mazagon Dock Shipbuilders Ltd achieved a profit before tax of ₹933.94 crores, a significant increase from ₹566.85 crores in Q1FY26. This represents a 64.8% growth on a QoQ basis. Year-over-year, the profit before tax rose by 26.1% from ₹740.49 crores in Q2FY25. After accounting for taxes amounting to ₹224.07 crores in Q2FY26, the profit after tax stood at ₹749.48 crores, compared to ₹452.15 crores in Q1FY26 and ₹585.08 crores in Q2FY25. This resulted in a QoQ increase of 65.8% and a YoY increase of 28.1% in net profit. The earnings per share (EPS) for Q2FY26 was ₹18.58, up from ₹11.21 in the previous quarter, but showing a decline from ₹29.01 in the previous year.

Operating Metrics

During Q2FY26, the total expenses for Mazagon Dock Shipbuilders Ltd were ₹2,291.08 crores, which is higher compared to ₹1,807.95 crores in Q1FY26, indicating a 26.7% increase on a QoQ basis. However, when compared to the same period in the previous year, the expenses increased marginally by 0.9% from ₹2,270.62 crores. The tax expense for the quarter also increased to ₹224.07 crores from ₹147.57 crores in Q1FY26 and ₹187.73 crores in Q2FY25, reflecting a QoQ increase of 51.8% and a YoY increase of 19.4%. Despite the rise in expenses and taxes, the substantial increase in total income allowed the company to achieve notable profitability improvements.