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Mazagon Dock Shipbuilders Limited Q2 FY26 earnings call summary

NSE: MAZDOCK · BSE: 543237

Earnings call of 28 Oct 2025, summarised by AI from the filing.

Mazagon Dock reported Q2 FY26 standalone revenue of ₹2,929 cr and PAT of ₹715 cr, and guides FY26 revenue at approximately ₹12,500 cr.

Key takeaways

  1. Guidance FY26 revenue anticipated at approximately ₹12,500 cr, with another 5% growth in the coming year.
  2. Change LD of ₹102 cr written back in the quarter, pertaining to the 17 Alpha second ship.

Original filing on BSE

Mazagon Dock Shipbuilders Limited Q1 FY27 results

As filed: Revenue ₹2,943 cr (+12% year on year), EBITDA ₹447 cr (+48% year on year), PAT ₹550 cr (+22% year on year), EBITDA margin 15.2% (+368 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹3,850 cr (+21% year on year), EBITDA ₹543 cr (+300% year on year), PAT ₹674 cr (+107% year on year), EBITDA margin 14.1% (+1,000 bps). Score 61 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 1000 bps year on year. Other income 36% of PBT. Profit fell 23% from last quarter. Share price after the results: −10.1% in 29 days (Nifty 500: −0.1%).
  • Q3 FY26: Revenue ₹3,601 cr (+15% year on year), EBITDA ₹887 cr (+8% year on year), PAT ₹880 cr (+9% year on year), EBITDA margin 24.6% (−139 bps). Score 37 of 100, Below trend. Revenue, EBITDA and profit growth were below the company's own trend. EBITDA margin fell 139 bps year on year. Share price after the results: +3.1% in 29 days (Nifty 500: −4.0%).
  • Q2 FY26: Revenue ₹2,929 cr (+6% year on year), EBITDA ₹695 cr (+36% year on year), PAT ₹749 cr (+28% year on year), EBITDA margin 23.7% (+523 bps). Score 36 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin rose 523 bps year on year. Other income 29% of PBT. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −4.1% in 30 days (Nifty 500: +0.5%).
  • Q1 FY26: Revenue ₹2,626 cr (+11% year on year), EBITDA ₹302 cr (−53% year on year), PAT ₹452 cr (−35% year on year), EBITDA margin 11.5% (−1,000 bps). Score 14 of 100, Below trend. Revenue growth was below the company's own trend; EBITDA and profit growth were well below it. EBITDA margin fell 1000 bps year on year. Other income 51% of PBT. Revenue fell 17% from last quarter. Share price after the results: −3.7% in 29 days (Nifty 500: −0.3%).
  • Q4 FY25: Revenue ₹3,174 cr (+2% year on year), EBITDA ₹90.0 cr (−83% year on year), PAT ₹325 cr (−51% year on year), EBITDA margin 2.8% (−1,000 bps). Score 0 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 1000 bps year on year. Other income 84% of PBT. Profit fell 60% from last quarter. Revenue rose ₹70.0 cr on a year ago, against ₹1,025 cr the year before. Share price after the results: −15.4% in 29 days (Nifty 500: +3.3%).
  • Q3 FY25: Revenue ₹3,144 cr (+33% year on year), EBITDA ₹818 cr (+52% year on year), PAT ₹807 cr (+29% year on year), EBITDA margin 26.0% (+324 bps). Score 40 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were well below it. EBITDA margin rose 324 bps year on year. Other income 27% of PBT. Revenue rose ₹782 cr on a year ago, more than the ₹546 cr it added the year before.
  • Q2 FY25: Revenue ₹2,757 cr (+51% year on year), EBITDA ₹510 cr (+188% year on year), PAT ₹585 cr (+76% year on year), EBITDA margin 18.5% (+882 bps). Score 85 of 100, Above trend. EBITDA margin rose 882 bps year on year. Other income 34% of PBT. Not enough history for a trend yet: scored on growth alone. Profit fell 16% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Mazagon Dock Shipbuilders Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.