{"id":171895,"date":"2025-10-28T08:31:54","date_gmt":"2025-10-28T12:31:54","guid":{"rendered":"https:\/\/44.250.171.167\/?p=171895"},"modified":"2025-10-28T08:31:54","modified_gmt":"2025-10-28T12:31:54","slug":"mazagon-dock-q2-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/mazagon-dock-q2-fy26-earnings-results\/","title":{"rendered":"Mazagon Dock Q2 FY26 Earnings Results"},"content":{"rendered":"<p>Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo\/passenger ships, and offshore platforms.<\/p>\n<h2 class=\"mb-2 mt-4 font-display font-semimedium text-base first:mt-0\">Q2 FY26 Earnings Results<\/h2>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Revenue from Operations:<\/strong> \u20b92,929.24 crore, up 6.3% YoY from \u20b92,756.83 crore in Q2 FY25.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>EBITDA:<\/strong> \u20b9694 crore, up 36% YoY from \u20b9510 crore; EBITDA margin expanded to 23.7% from 18.5% YoY.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Profit Before Tax (PBT):<\/strong> \u20b9933.94 crore, up 26% YoY and 65% QoQ.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Profit After Tax (PAT):<\/strong> \u20b9749.48 crore, up 28.1% YoY from \u20b9585.08 crore in Q2 FY25.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>PAT Margin:<\/strong> Expanded to 24.2%.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Order Book:<\/strong> \u20b927,415 crore as of September 30, 2025.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Interim Dividend:<\/strong> \u20b96 per equity share; record date November 4, 2025.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Employee Cost:<\/strong>\u00a0\u20b9223 crore, down slightly from Q1 FY26.\u200b<\/p>\n<p>&nbsp;<\/p>\n<h3 class=\"mb-2 mt-4 font-display font-semimedium text-base first:mt-0\">Management Commentary &amp; Strategic Decisions<\/h3>\n<ul class=\"marker:text-quiet list-disc\">\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&amp;&gt;p]:pt-0 [&amp;&gt;p]:mb-2 [&amp;&gt;p]:my-0\">\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\">Management attributed <a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/046ea0bc-a758-44a9-b362-013091bc5a37.pdf\" target=\"_blank\" rel=\"noopener\">robust profit growth and margin expansion<\/a> to strong execution of warship and submarine milestones, improved project mix, and stable input costs.<\/p>\n<\/li>\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&amp;&gt;p]:pt-0 [&amp;&gt;p]:mb-2 [&amp;&gt;p]:my-0\">\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\">The company highlighted operational efficiency improvements and disciplined workforce management driving margin gains.<\/p>\n<\/li>\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&amp;&gt;p]:pt-0 [&amp;&gt;p]:mb-2 [&amp;&gt;p]:my-0\">\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\">Mazagon Dock benefited from timely milestone deliveries of key defence projects, notably advanced destroyers and Scorpene-class submarines.<\/p>\n<\/li>\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&amp;&gt;p]:pt-0 [&amp;&gt;p]:mb-2 [&amp;&gt;p]:my-0\">\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\">Strategic focus continues on building India\u2019s naval strength, scaling indigenous capabilities, and expanding both the core defence business and high-value contracts.<\/p>\n<\/li>\n<li class=\"py-0 my-0 prose-p:pt-0 prose-p:mb-2 prose-p:my-0 [&amp;&gt;p]:pt-0 [&amp;&gt;p]:mb-2 [&amp;&gt;p]:my-0\">\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\">Interim dividend and solid order book underscore confidence in visibility for future growth; management expects sustained progress in H2 FY26.\u200b<\/p>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-171896\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Mazagon-Dock-Shipbuilders-Q2-FY26-Earnings-Results-839x1024.png\" alt=\"Mazagon Dock Shipbuilders Q2 FY26 Earnings Results\" width=\"640\" height=\"781\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Mazagon-Dock-Shipbuilders-Q2-FY26-Earnings-Results-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Mazagon-Dock-Shipbuilders-Q2-FY26-Earnings-Results-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Mazagon-Dock-Shipbuilders-Q2-FY26-Earnings-Results-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Mazagon-Dock-Shipbuilders-Q2-FY26-Earnings-Results-1259x1536.png 1259w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Mazagon-Dock-Shipbuilders-Q2-FY26-Earnings-Results.png 1489w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h2 class=\"mb-2 mt-4 font-display font-semimedium text-base first:mt-0\">Q1 FY26 Earnings Results<\/h2>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Revenue from Operations:<\/strong> \u20b92,625.59 crore, up 11.4% YoY from \u20b92,357.02 crore in Q1 FY25.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>EBITDA:<\/strong> \u20b9302 crore, down 53% YoY from \u20b9642 crore; margin contracted to 11.4% from 27.2% YoY.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Profit After Tax (PAT):<\/strong> \u20b9452.15 crore, down 35% YoY from \u20b9696.10 crore.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>PAT Margin:<\/strong> 17.2%.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Order Book:<\/strong> Stood steady at \u20b927,000+ crore.<\/p>\n<p class=\"my-2 [&amp;+p]:mt-4 [&amp;_strong:has(+br)]:inline-block [&amp;_strong:has(+br)]:pb-2\"><strong>Operational Update:<\/strong>\u00a0Sequential profit rose 39% QoQ despite margin compression due to back-ended project deliveries.<\/p>\n<p>&nbsp;<\/p>\n<p>To view the company\u2019s previous earnings and latest concall transcripts, <a href=\"https:\/\/44.250.171.167\/symbol\/mazdock\/\">click here<\/a> to visit the Alphastreet India news channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo\/passenger ships, and offshore platforms. Q2 FY26 Earnings Results Revenue from Operations: \u20b92,929.24 crore, up 6.3% YoY [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":171896,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,5753],"tags":[10388],"class_list":["post-171895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-industrials","tag-shipbuilding"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Mazagon-Dock-Shipbuilders-Q2-FY26-Earnings-Results.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":170945,"url":"https:\/\/alphastreet.com\/india\/mazagon-dock-shipbuilders-q1-fy26-earnings-results\/","url_meta":{"origin":171895,"position":0},"title":"Mazagon Dock Shipbuilders Q1 FY26 Earnings Results","author":"Chirag Gupta","date":"September 4, 2025","format":false,"excerpt":"Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo\/passenger ships, and offshore platforms. Presenting below are its Q1 FY26 earnings\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Mazagon Dock Shipbuilders Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/6-2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/6-2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/6-2.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/6-2.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/6-2.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/09\/6-2.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":179797,"url":"https:\/\/alphastreet.com\/india\/mazagon-dock-shipbuilders-q3-fy26-earnings-results\/","url_meta":{"origin":171895,"position":1},"title":"Mazagon Dock Shipbuilders Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 6, 2026","format":false,"excerpt":"Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo\/passenger ships, and offshore platforms.\u00a0 Q3 FY26 Earnings Results Revenue from Operations:\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":168724,"url":"https:\/\/alphastreet.com\/india\/mazagon-dock-shipbuilders-ltd-q4fy25-51-fall-in-profits\/","url_meta":{"origin":171895,"position":2},"title":"Mazagon Dock Shipbuilders Ltd Q4FY25; 51% fall in Profits","author":"Chirag Gupta","date":"June 9, 2025","format":false,"excerpt":"Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo\/passenger ships, and offshore platforms. Financial Results: Mazagon Dock Shipbuilders Ltd reported\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/06\/4-4.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/06\/4-4.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/06\/4-4.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/06\/4-4.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/06\/4-4.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/06\/4-4.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":166960,"url":"https:\/\/alphastreet.com\/india\/mazagon-dock-shipbuilders-ltd-q3fy25-29-rise-in-profits\/","url_meta":{"origin":171895,"position":3},"title":"Mazagon Dock Shipbuilders Ltd Q3FY25; 29% rise in Profits","author":"Chirag Gupta","date":"February 18, 2025","format":false,"excerpt":"Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo\/passenger ships, and offshore platforms. Financial Results: Mazagon Dock Shipbuilders Ltd reported\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/4-9.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/4-9.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/4-9.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/4-9.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/4-9.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/4-9.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":161679,"url":"https:\/\/alphastreet.com\/india\/mazagon-dock-shipbuilders-ltd-q4fy24-106-rise-in-profits\/","url_meta":{"origin":171895,"position":4},"title":"Mazagon Dock Shipbuilders Ltd Q4FY24; 106% rise in Profits","author":"Chirag Gupta","date":"May 29, 2024","format":false,"excerpt":"Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo\/passenger ships, and offshore platforms. Financial Results: Mazagon Dock Shipbuilders Ltd reported\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-214.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-214.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-214.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-214.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-214.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-214.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":158666,"url":"https:\/\/alphastreet.com\/india\/mazagon-dock-shipbuilders-ltd-q3fy24-76-rise-in-profits\/","url_meta":{"origin":171895,"position":5},"title":"Mazagon Dock Shipbuilders Ltd Q3FY24; 76% rise in Profits","author":"Chirag Gupta","date":"February 12, 2024","format":false,"excerpt":"Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo\/passenger ships, and offshore platforms. Financial Results: Mazagon Dock Shipbuilders Ltd reported\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-95.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-95.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-95.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-95.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-95.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-95.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/171895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=171895"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/171895\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/171896"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=171895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=171895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=171895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}