India · Delayed Price · Currency is INR Mazagon Dock Shipbuilders Earnings Call Transcripts
Fiscal Year 2026
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Q2 FY26 saw 6% revenue growth and a 27% rise in PAT year-over-year, with a robust order book and strong margin outlook. Major CapEx is planned for new shipyards, and large defense and commercial projects are expected to drive future growth.
Fiscal Year 2025
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Record FY25 revenue and profit driven by strong execution and margin expansion, with a robust order pipeline poised to exceed INR 1.25 lakh crores pending major submarine contracts. Capacity is set to double, and guidance remains conservative at 8-10% revenue growth and 15% PBT margin.
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Q3 FY2025 saw strong results, driven by project execution and reversal of provisions, with a robust order book of INR 34,787 crore. Margins are expected to remain elevated in FY2026 before normalizing, and significant new orders for submarines and upgrades are anticipated.
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Q2 FY25 saw strong margins and consistent performance, with major naval deliveries on track and robust order visibility. CapEx plans aim to double capacity, supporting future growth in both defense and commercial segments. H2 margins are expected to remain high, with normalization in future projects.
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Q1 FY25 saw a sharp margin increase and strong order book, with management confident of sustaining performance and targeting higher revenue for FY25. Major deliveries and infrastructure investments are planned, while the company benefits from its new Navratna status.