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Mazagon Dock Shipbuilders Ltd

Q2 FY26Industrial Manufacturing

Mazagon Dock Shipbuilders Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹2,552
Market cap₹1.0L Cr
P/E36.4
Updated23 Aug 2026
Read4 min read

What the Q2 FY26 call signalled

2 of 4 strong

RevenueModerate growth
MarginMargins steady
CapexCapex planned
Order bookOrder book rising

The short version

Current order book stands at around INR 27,000 crores with an outlook exceeding INR 1 lakh crores by FY 2026-27. Revenue for FY 2025-26 is anticipated at approximately INR 12,500 crores with a 5% growth expected next year.

From Mazagon Dock Shipbuilders Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Moderate growth
  • Current order book stands at around INR 27,000 crores with an outlook exceeding INR 1 lakh crores by FY 2026-27.
  • Expected revenue for FY 25-26 is approximately INR 12,500 crores, with a 5% growth projected for the following year.
  • Anticipate significant revenue and profit improvement once submarine projects (P75, P75I) commence.
  • Commercial shipbuilding is targeted as a new growth area, including setting up a large shipyard in Tuticorin with an investment of about INR 5,000 crores over 4-5 years.
  • Short-term commercial orders anticipated from petroleum PSUs like ONGC and Shipping Corporation of India, around INR 1,000 crores.

2 more points from Mazagon Dock Shipbuilders Ltd's call on revenue

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Profitability & Margins

See what Mazagon Dock Shipbuilders Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • Mazagon Dock plans a major greenfield shipyard in Tuticorin, Tamil Nadu, with a capacity of 1 to 1.5 million tons and land requirement of 1,000-1,100 acres.
  • Total capex for Tuticorin shipyard estimated between INR 15,000 to INR 18,000 crores, to be done in phases; first phase of around INR 5,000 crores expected in 3-4 years.
  • Ongoing capex of INR 500 crores for the current financial year, mainly for a floating dock at Nhava Sheva yard, expected to complete by year-end.
  • Additional INR 1,000 crores planned for Nhava Sheva yard and South Yard Annex infrastructure improvements over 2-3 years.
  • Another INR 1,000 crores will be invested towards infrastructure for the 75I submarine projects.

2 more points from Mazagon Dock Shipbuilders Ltd's call on capex

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Top-ranked in Industrial Manufacturing

Ranked on what management guided this quarter

Guidance-ranked
1ICE Make Refrig.
Rev 1Mar 2
2Taurian MPS
Rev 1Mar 2
3
Rev 1Mar 3
4
Rev 1Mar 3
5
Rev 1Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

Order book rising
  • Current order book is around INR 27,000 crores.
  • Outlook for FY '26 and FY '27: Expected order book in excess of INR 1 lakh crores.
  • Major potential order pipeline includes:
  • Landing Platform Dock (LPD) valued around INR 35,000 to 40,000 crores.
  • Mine Counter Measure Vessel (MCMV) around INR 40,000 crores.
  • 17 Bravo frigates estimated INR 50,000 to 60,000 crores.
  • Next-generation destroyer project (15 Charlie) valued at INR 70,000 to 80,000 crores.

2 more points from Mazagon Dock Shipbuilders Ltd's call on order book

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Mazagon Dock Shipbuilders Ltd — Quarterly revenue & net profit

Revenue Net profit
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹2.4K Cr, net profit ₹346 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Mazagon Dock Shipbuilders Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Mazagon Dock Shipbuilders Ltd Q2 FY26 results?

Current order book stands at around INR 27,000 crores with an outlook exceeding INR 1 lakh crores by FY 2026-27. Revenue for FY 2025-26 is anticipated at approximately INR 12,500 crores with a 5% growth expected next year.

What is Mazagon Dock Shipbuilders Ltd share price analysis?

Mazagon Dock Shipbuilders Ltd currently shows a below-average growth signal. The stock trades at a P/E of 36.4 with a market cap of ₹104,072 Cr. Investors should review the full earnings analysis for detailed insights.

Is Mazagon Dock Shipbuilders Ltd planning capital expenditure?

Mazagon Dock plans a major greenfield shipyard in Tuticorin, Tamil Nadu, with a capacity of 1 to 1.5 million tons and land requirement of 1,000-1,100 acres.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.