Mazagon Dock Shipbuilders Ltd. announced its financial results for Q2 and the first half of FY2026. The company reported a 12% increase in revenue from operations for Q2, reaching ₹2,929 Cr. EBITDA also saw a significant rise, jumping by 55% to ₹971 Cr. For H1, revenue increased by 9% to ₹5,555 Cr, while EBITDA rose by -6% to ₹1,596 Cr.
Q2 FY26 Financial Highlights (Standalone)
Mazagon Dock Shipbuilders Ltd. reported a revenue from operations of ₹2,929 Cr for Q2 FY2026, a 12% increase compared to Q2 FY25. The company’s EBITDA saw a substantial increase of 55%, reaching ₹971 Cr. However, profit before tax (PBT) increased to ₹939 Cr, an increase of 66% while profit after tax (PAT) increased to ₹715 Cr, an increase of 71%. The operating margin stood at 23%.
H1 FY26 Financial Highlights (Standalone)
For the first half of FY2026, Mazagon Dock’s revenue from operations was ₹5,555 Cr, a 9% increase year-over-year. The company’s EBITDA decreased -6% to ₹1,596 Cr. Profit before tax (PBT) stood at ₹1506 Cr, -8% lower and profit after tax (PAT) stood at ₹1135 Cr, -8% lower. Operating margin stood at 16%.
Q2 FY26 Financial Highlights (Consolidated)
The company’s consolidated revenue from operations for Q2 FY26 was ₹2929 Cr, an increase of 12% compared to Q2 FY25. The consolidated EBITDA increased by 54% to ₹965 Cr and the consolidated profit after tax increased 66% to ₹749 Cr. Operating margin increased to 23%
H1 FY26 Financial Highlights (Consolidated)
For the first half of FY2026, Mazagon Dock’s consolidated revenue from operations was ₹5,555 Cr, a 9% increase year-over-year. The company’s EBITDA decreased -6% to ₹1,591 Cr. Profit before tax (PBT) stood at ₹1501 Cr, -8% lower and profit after tax (PAT) stood at ₹1202 Cr, -6% lower. Operating margin stood at 16%.
Order Book
As of September 30, 2025, Mazagon Dock has a total order book valued at ₹27,415 Cr which includes P15B Destroyers: ₹28,734 Cr, P17A Stealth Frigates: ₹27,251 Cr and P75 Kalvari Submarines: ₹29,505 Cr.
Major Events
Key events in H1 FY26 included the delivery of the second stealth Frigate of the P17A Class Udaygiri to the Indian Navy on July 1, 2025, and the Keel Laying for the 1st Next generation offshore Patrol Vessel of NGOPV for ICG on July 22, 2025. Also, Udaygiri second ship under Project 17A Commissioned on 26th August,2025 and MDL signed an MoU with Guidance, Tamil Nadu for exploring development of a world class greenfield shipyard in the Eastern coast on 19th September, 2025.
Source: BSE
