The order is valued at ₹118 crore, including Goods and Services Tax (GST) and other duties, with GST applicable at 18%. The project is a domestic order and has a completion period of 24 months.
“This is to inform that Maharashtra State Electricity Transmission Co. Ltd. (MSETCL) has placed a Purchase Order on Mazagon Dock Shipbuilders Ltd for Supply, Installation and Commissioning of Al based Comprehensive Infrasecure Project for 05 Substations for an amount of ₹117,99,71,564.90/- (Rupees One Hundred and Seventeen Crore Ninety Nine Lakh Seventy One Thousand Five Hundred and Sixty Four and Paise Ninety Only) including GST and other duties (GST@ 18%),” according to a stock exchange filing.
ALSO READ | Explained — Why GRSE, Mazagon Dock, Cochin Shipyard shares jumped up to 20% on Wednesday
Mazagon Dock Shipbuilders said the order involves the supply, installation and commissioning of the AI-based Comprehensive Infrasecure Project for five substations.
The company said the promoter, promoter group and group companies have no interest in Maharashtra State Electricity Transmission Company, which awarded the order. The order also does not fall under related-party transactions.
First Quarter Results
Mazagon Dock Shipbuilders posted a 21.5% year-on-year rise in net profit to ₹549.4 crore, compared with ₹452.2 crore in the corresponding quarter last year. Revenue for the quarter increased 12.1% to ₹2,943 crore from ₹2,626 crore a year ago, reflecting continued execution across its shipbuilding programmes.
ALSO READ | Mazagon Dock shares set for best week in nine months after 18% jump in two sessions
Operating performance improved at a faster pace than revenue. EBITDA rose 48% year-on-year to ₹446.6 crore, while EBITDA margin expanded significantly to 15.2% from 11.5% in the year-ago period, indicating stronger operational efficiency during the quarter.
The company also reported total income of ₹3,081 crore during the quarter, compared with ₹2,949 crore in the corresponding period last year. Mazagon Dock’s order pipeline remained robust, with its total order book standing at ₹18,218 crore as of June 30, 2026, providing visibility for future execution and revenue.
Shares of Mazagon Dock Shipbuilders Ltd ended at ₹2,477.00, up by ₹4.00, or 0.16%, on the BSE.
ALSO READ | Mazagon Dock shares surge 11% in anticipation of large orders by the end of FY26
