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India
As of 18 Sept 2026, 03:30 pm
On September 3, 2026, Mazagon Dock Shipbuilders Limited received a domestic order valued at ₹1,179,971,564.90 (including GST) from Maharashtra State Electricity Transmission Co. Ltd. for the supply, installation, and commissioning of an AI-based Comprehensive Infrasecure Project across five substations. The project has a completion period of 24 months.
Mazagon Dock Shipbuilders Limited appointed M/s. Sarda & Pareek LLP as its Statutory Auditor effective August 27, 2026, for a term of 12 months. This change was officially reported on September 8, 2026. Additionally, Shri K.M. Ravi Kumar was appointed as a Non-Official Independent Director effective September 7, 2026, for a term of three years or until further orders. This appointment was reported on September 7, 2026.
As of September 18, 2026, the stock's closing price was ₹2280.0. Recent returns show a decrease of 12% in the last month and 24% over the past year. Technical indicators suggest a bearish trend on daily, weekly, and monthly timeframes, with the Supertrend indicator at 2434.61 on a daily basis, indicating a bearish direction.
As of September 18, 2026, key support levels are identified at ₹2271.02 (39% below the current price), ₹2257.93, ₹2216.97, and ₹2185.0. Resistance levels are noted at ₹2305.87 (1.13% above the current price), ₹2327.18, ₹2346.83, and ₹2431.35.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
Upward price movement of 2.65 standard deviations recorded on 2026-09-18.
Unusual market activity that may warrant review of the underlying price, volume, or news context.
Trading volume was unusually high, but the closing price did not show a clear directional move.
This indicates increased participation without a clear directional signal.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | ₹2,942.70 crore | PEAK₹3,850.39 crore | ₹3,601.09 crore | ₹2,929.24 crore | ₹2,625.59 crore |
| Profit Before Exceptional Items And Tax | ₹686.45 crore | ₹793.38 crore | PEAK₹1,119.63 crore | ₹933.94 crore | ₹566.85 crore |
| Profit Loss For Period | ₹550.46 crore | ₹674.16 crore | PEAK₹879.78 crore | ₹749.48 crore | ₹452.15 crore |
| Profit Before Tax | ₹686.45 crore | ₹793.38 crore | PEAK₹1,119.63 crore | ₹933.94 crore | ₹566.85 crore |
| Tax Expense | ₹174.41 crore | ₹160.57 crore | PEAK₹282.50 crore | ₹224.07 crore | ₹147.57 crore |
| Profit Loss For Period From Continuing Operations | ₹512.04 crore | ₹632.81 crore | PEAK₹837.13 crore | ₹709.87 crore | ₹419.28 crore |
The quarter demonstrated year-on-year growth in revenue and profit, with PBT margin improving compared to both the prior-year quarter and the preceding quarter. The sequential decline in revenue and profit from the March 2026 quarter was consistent with the pattern seen in the previous fiscal year. Finance costs increased sharply in percentage terms but remained a small portion of revenue.
Exchange disclosures and regulatory announcements for Mazagoan Dock Shipbuilders.
Mazagon Dock Shipbuilders Ltd. signed an MoU with National Shipbuilding & Heavy Industries Park Andhra Pradesh on 18 September 2026 to participate as the Anchor Shipyard in a proposed Greenfield Shipbuilding Industrial Cluster at Dugarajapatnam, Andhra Pradesh, with an annual shipbuilding capacity of at least 1.2 million Gross Tonnage.
Mazagon Dock Shipbuilders Limited appointed M/s. Sarda & Pareek LLP as its Statutory Auditor effective August 27, 2026, with a term of 12 months. The firm, established in 1983 and holding a valid Peer Review Board certificate, was officially reported on September 8, 2026.
Mazagon Dock Shipbuilders Ltd. appointed Shri K.M. Ravi Kumar (DIN-07478061) as a Non-Official Independent Director effective 07 September 2026, following a prior notice dated 24 August 2026. The appointment is for a term of three years or until further orders, subject to the earlier of these conditions. Mr. Kumar, a mechanical engineer with 38 years of experience in structural fabrication and mild steel manufacturing, affirmed that he is not debarred from holding directorship by any statutory authority.
Mazagon Dock Shipbuilders Limited received a domestic order from Maharashtra State Electricity Transmission Co. Ltd. on September 3, 2026, for the supply, installation, and commissioning of an AI-based Comprehensive Infrasecure Project across five substations. The contract value is INR 1,179,971,564.90 (including GST) with a completion period of 24 months.
At the 93rd AGM of Mazagon Dock Shipbuilders Ltd held on 27 August 2026, shareholders approved all six resolutions with requisite majority. Resolutions included adoption of financial statements for FY ended 31 March 2026, a final dividend of ₹4.62 per share (92.4%), re-appointment of director Biju George, authorization of statutory auditor remuneration for FY 2026-27, ratification of cost auditor remuneration for FY 2026-27, and appointment of Dinesh Mahur as Government Nominee Director.
Mazagon Dock Shipbuilders Ltd. held its 93rd AGM on 27 August 2026 via video conferencing. The meeting adopted the audited financial statements for FY ended 31 March 2026 and declared a final dividend of ₹4.62 per equity share (92.4%). The Secretarial Auditor noted that during FY 2025-26, the Board's composition was not in compliance with Independent Director and Independent Woman Director requirements under the Companies Act and SEBI LODR, with vacancies not filled within prescribed timelines; management attributed the delay to the appointment process by the Ministry of Defence.
Recent market and company developments associated with Mazagoan Dock Shipbuilders.
The Andhra Pradesh government is planning a broader Shipbuilding-cum-Port Cluster at Dugarajapatnam. According to the Techno-Economic Feasibility Report, the shipbuilding and ship repair yard is estimated to cost around ₹29,254 crore, while the proposed port is estimated at ₹9,513 crore.
Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended mixed on Friday, with the Nifty 50 gaining over 75 points while the Sensex closed marginally lower, as easing crude oil prices provided some relief to domestic equities.
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Comprehensive Section Breakdown for Mazagoan Dock Shipbuilders
Strategic Vision: Builds and repairs ships, submarines, and offshore platforms for defense and commercial clients.
• Defense public sector undertaking status
• Extensive experience in building complex naval vessels and submarines
Mazagon Dock Shipbuilders Limited reported revenue from operations of ₹2,942.70 crore for the quarter ended 30 June 2026, a 12.08% increase from the same quarter last year. Profit for the period rose 21.74% year-on-year to ₹550.46 crore. While both revenue and profit declined sequentially from the March 2026 quarter, profitability margins improved compared to both the prior-year quarter and the preceding quarter. Finance costs increased sharply in percentage terms from a low base, though the absolute amount remained a small portion of revenue.
Revenue from operations grew from ₹2,625.59 crore in Q1 FY2025-26 to ₹2,942.70 crore in Q1 FY2026-27. However, the quarter followed a peak in Q4 FY2025-26, when revenue reached ₹3,850.39 crore, resulting in a sequential decline of ₹907.69 crore (23.57%). This pattern—revenue climbing through the fiscal year and then settling lower in the first quarter of the next year—was also visible in the prior four quarters.
Profit Before Tax (PBT) increased 21.1% year-on-year to ₹686.45 crore, outpacing the 12.08% revenue growth. The PBT margin improved to approximately 23.3%, up from 21.6% in Q1 FY2025-26 and 20.6% in Q4 FY2025-26.
Net profit (Profit Loss For Period) followed a similar trajectory, rising 21.74% year-on-year to ₹550.46 crore. Sequentially, net profit declined 18.35% from ₹674.16 crore in Q4 FY2025-26. Tax expense for the quarter was ₹174.41 crore, an 8.62% increase from the previous quarter and an 18.19% increase from the prior-year quarter.
The reported expense line items for the quarter totalled ₹1,908.62 crore, comprising:
Finance costs rose to ₹44.34 crore, an increase of ₹34.33 crore (342.96%) from the previous quarter and ₹43.25 crore (3,967.89%) from the same quarter last year. Despite the sharp percentage increase, finance costs represented approximately 1.5% of revenue from operations, remaining a small component of the overall cost structure.
Other Income for the quarter was ₹313.18 crore, bringing total income (Revenue from Operations plus Other Income) to ₹3,255.88 crore. PBT of ₹686.45 crore was derived after deducting all expenses from this total income.
Mazagon Dock Shipbuilders reported standalone Q1 FY27 revenue from operations of ₹2,771 Cr (up from ₹2,626 Cr YoY) and PAT of ₹510 Cr (vs ₹419 Cr). Consolidated PAT stood at ₹550 Cr, aided by subsidiary Colombo Dockyard and associate Goa Shipyard. Management highlighted a robust order book of ₹18,218 Cr, including pending work on P17A frigates, P75 submarines, and new Coast Guard vessels, providing multi-year revenue visibility.
The company achieved key milestones including delivery of the fourth P17A stealth frigate and keel laying for new patrol vessels and a hybrid-powered vessel. With zero debt and consistent profitability, MDL continues to focus on indigenization and capacity expansion, concurrently building 11 submarines and 10 warships. Strategic collaborations (MoU with NACE, IIT Madras facility) underscore its commitment to innovation and skill development.
Category: Manufacturing
Constructs naval platforms such as destroyers, submarines, frigates, and corvettes, as well as merchant ships like cargo vessels, tugs, and dredgers.
Category: Manufacturing
Builds conventional submarines and provides heavy engineering solutions, including offshore platforms and jack-up rigs for the oil sector.
Category: B2B Services
Offers repairs and refit, designing of ships, know-how provision, training, tug support, and supply chain management.
Core Thesis: Leverages shipbuilding expertise to serve both defense and commercial sectors, complemented by comprehensive repair and engineering services.
• Naval Platform Construction: Builds a variety of warships and submarines for the Indian Navy. • Merchant Vessel Manufacturing: Constructs diverse merchant ships including cargo vessels, tugs, and dredgers. • Offshore and Heavy Engineering: Provides offshore platforms and jack-up rigs for the oil sector. • Comprehensive Services: Offers ship repair, refit, design, training, and supply chain management.