Mazagon Dock Q1 Results: Profit falls 35% YoY to Rs 452 crore, revenue rises 11%

State-run defence shipbuilder Mazagon Dock Shipbuilders reported a 35% year-on-year (YoY) decline in consolidated net profit for the June quarter at Rs 452 crore, compared to Rs 696 crore in Q1FY25. The decline in profit comes despite a steady uptick in revenue and solid operating performance.

The sequential growth, however, was robust, with Q1 profit rising nearly 39% from Rs 325 crore reported in Q4FY25.

Revenue from operations rose 11% YoY to Rs 2,625.6 crore, up from Rs 2,357 crore in the same quarter last year. On a quarter-on-quarter basis, however, revenue fell 17% from Rs 3,174 crore.


The company’s total income for the quarter stood at Rs 2,914.9 crore, including Rs 289.3 crore in other income.

EBITDA for the period was Rs 793.5 crore, translating to a healthy EBITDA margin of approximately 30.2%, driven by lower input costs and higher contribution from high-margin projects.

Mazagon's expenditure for the quarter stood at Rs 2,348 crore, down 11% from Rs 3,114 crore in the March quarter, led by moderation in raw material and sub-contracting costs. Provisions also remained elevated at Rs 540 crore.

On the tax front, the company paid Rs 293 crore in current tax, with a deferred tax credit of Rs 145 crore. Including associate contributions, the total profit stood at Rs 452 crore, with minimal changes in other comprehensive income.

Mazagon Dock is one of India's leading defence public sector undertakings engaged in the construction of warships and submarines for the Indian Navy. It is also involved in ship repair and builds vessels for commercial clients.