The Navratna public sector undertaking (PSU), and India’s only public sector defence shipyard constructing both destroyers and submarines, 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.
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.
Ahead of the earnings announcement, shares of the defence PSU closed at ₹2,326 on the NSE.Mazagon Dock remains a key player in India’s defence manufacturing ecosystem. The company has the capacity to simultaneously build 11 submarines and 10 warships, making it one of the country’s most strategically important defence shipyards. It is also the only public sector defence shipyard engaged in the construction of both destroyers and submarines.
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The June quarter performance reflected steady execution across its order book, with higher profitability despite a moderate rise in revenue.
