Mazagon Dock Shipbuilders Limited announced its Q3 FY26 results, showcasing robust financial performance. Revenue from operations stood at ₹3,601 Cr. The company continues to achieve milestones with significant events including signing exclusive MoUs and receiving awards. The company has a strong order book of ₹23,758 Cr as of December 31, 2025. MDL remains committed to growth, innovation, and contributing to national maritime strength.
Financial Performance Q3 FY26 (Standalone)
Mazagon Dock Shipbuilders Limited reported the following standalone financial results for Q3 FY26:
Revenue from operations: ₹3,601 Cr compared to ₹2,929 Cr in Q2 FY26 and ₹3,104 Cr in Q3 FY25.
Total Income: ₹3,863 Cr compared to ₹3,205 Cr in Q2 FY26 and ₹3,434 Cr in Q3 FY25.
EBITDA: ₹1,149 Cr compared to ₹971 Cr in Q2 FY26 and ₹1,108 Cr in Q3 FY25.
PBT: ₹1,120 Cr compared to ₹939 Cr in Q2 FY26 and ₹1,063 Cr in Q3 FY25.
PAT: ₹837 Cr compared to ₹715 Cr in Q2 FY26 and ₹768 Cr in Q3 FY25.
Operating margin: 24% compared to 23% in Q2 FY26 and 25% in Q3 FY25.
Financial Performance Q3 FY26 (Consolidated)
Mazagon Dock Shipbuilders Limited reported the following consolidated financial results for Q3 FY26:
Revenue from operations: ₹3,601 Cr compared to ₹2,929 Cr in Q2 FY26 and ₹3,144 Cr in Q3 FY25.
Total Income: ₹3,863 Cr compared to ₹3,200 Cr in Q2 FY26 and ₹3,434 Cr in Q3 FY25.
EBITDA: ₹1,149 Cr compared to ₹965 Cr in Q2 FY26 and ₹1,108 Cr in Q3 FY25.
PBT: ₹1,120 Cr compared to ₹934 Cr in Q2 FY26 and ₹1,063 Cr in Q3 FY25.
PAT: ₹840 Cr compared to ₹749 Cr in Q2 FY26 and ₹807 Cr in Q3 FY25.
Operating margin: 24% compared to 23% in Q2 FY26 and 25% in Q3 FY25.
Nine Months Performance (Standalone)
Revenue From Operation: ₹9,156 Cr compared to ₹8,257 Cr for the same period last year.
Total Income: ₹10,017 Cr compared to ₹9,093 Cr for the same period last year.
EBITDA: ₹2,745 Cr compared to ₹2,806 Cr for the same period last year.
PBT: ₹2,626 Cr compared to ₹2,703 Cr for the same period last year.
PAT: ₹1,972 Cr compared to ₹1,998 Cr for the same period last year.
Operating Margin: 19% compared to 23% for the same period last year.
Nine Months Performance (Consolidated)
Revenue From Operation: ₹9,156 Cr compared to ₹8,257 Cr for the same period last year.
Total Income: ₹10,012 Cr compared to ₹9,082 Cr for the same period last year.
EBITDA: ₹2,739 Cr compared to ₹2,795 Cr for the same period last year.
PBT: ₹2,620 Cr compared to ₹2,692 Cr for the same period last year.
PAT: ₹2,081 Cr compared to ₹2,088 Cr for the same period last year.
Operating Margin: 19% compared to 23% for the same period last year.
Order Book
As of December 31, 2025, the total order book stood at ₹23,758 Cr.
Key Highlights & Events
MDL signed an exclusive MoU with Naval Group, France, offering evolved Scorpene submarines. MDL also signed a “Teaming Agreement” with Swan Defence and Heavy Industries to collaborate on the design and construction of Landing Platform Docks for the Indian Navy.
Keel Laying Ceremony for the 2nd Fast Patrol Vessel (FPV) and Keel Laying Yard-21002 (Project MPV-06 Multi Purpose Vessel) were conducted. Delivery of Third Stealth Frigate of P17A Class ‘TARAGIRI’ to Indian Navy on November 28, 2025.
MDL has been accredited for ISO/IEC 27001:2022 Information Security Management System. Second Reading of D448 INS ‘IMPHAL’ Third Destroyer under P15B was signed on December 9, 2025.
MDL joined the Indian Navy and Brazilian Navy in signing a trilateral MoU for structured exchange of information on maintenance of Scorpene-Class submarines and other military ships.
MDL was awarded the ‘Best Healthcare Support Initiative of the Year’ at Indian Social Impact Awards 2025 in New Delhi.
Dividend Distribution
Second Interim Dividend of ₹302.535 Cr i.e. ₹7.5 per equity share for FY 2025-26.
Source: BSE
