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 27% PAT growth year-over-year, with a robust order book and strong pipeline in defense and commercial shipbuilding. Margins are expected to normalize at 12%-15% for new projects, with significant CapEx planned for expansion and diversification.
Fiscal Year 2025
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Record FY25 revenue and profitability driven by strong project execution and robust order book, with major submarine contracts set to boost future growth. Guidance remains conservative at 8-10% revenue growth and 15% PBT margin, despite industry tailwinds and capacity expansion.
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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 revenue growth and elevated margins, driven by timely project deliveries and cost efficiencies. The order pipeline remains robust, with significant CapEx planned to double capacity and support future growth. Margins are expected to normalize for new projects, but H2 should mirror H1 performance.
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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.