Mazagon Dock Shipbuilders quarterly results and financials

Mazagon Dock Shipbuilders (MAZDOCK)₹1,878+1.02%(9 Nov 2026 close)Ship Building & Allied Services

Key facts

In the Sep 2026 quarter (consolidated), Mazagon Dock Shipbuilders reported sales of ₹2,457 Cr, down 16.5% from Sep 2025, and net profit of ₹347 Cr, down 53.8% year on year. For the year to Mar 2026, sales were ₹13,055 Cr and net profit ₹2,584 Cr.

Sales (Sep 2026): ₹2,457 Cr
Net profit (Sep 2026): ₹347 Cr
Sales (FY Mar 2026): ₹13,055 Cr
Net profit (FY Mar 2026): ₹2,584 Cr
EPS (Sep 2026): ₹8.54
Borrowings (Mar 2026): ₹446 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

Mazagon Dock Shipbuilders quarterly results

₹ crore unless stated; each column is a quarter.

Mazagon Dock Shipbuilders Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	2,369	3,115	2,366	2,769	3,158	3,185	2,637	2,942	3,613	3,865	2,952	2,457
Expenses	1,816	2,574	1,711	2,238	2,319	3,046	2,317	2,229	2,705	3,299	2,487	2,239
Operating Profit	539	524	642	512	817	119	302	695	887	543	447	199
OPM %	23.0%	17.0%	27.0%	19.0%	26.0%	3.8%	11.0%	24.0%	25.0%	14.0%	15.0%	8.0%
Other Income	268	348	270	257	290	286	323	270	261	282	292	250
Interest	1.01	0.99	1.01	5.01	5.01	8.01	35.01	8.99	5.99	10.01	24.01	21.01
Depreciation	20.04	23.03	23.04	23.05	40.06	29.05	23.05	24.02	23.05	23.03	29.03	30.05
Profit before tax	787	850	890	741	1,065	371	568	936	1,121	794	687	399
Tax %	25.0%	26.0%	25.0%	25.1%	28.0%	21.0%	26.0%	24.0%	25.0%	20.0%	25.0%	25.0%
Net Profit	628	665	698	586	810	326	453	751	882	676	552	347
EPS (Rs)	15.56	16.44	17.28	14.52	20.02	8.07	11.23	18.60	21.85	16.85	13.63	8.54

Mazagon Dock Shipbuilders profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Mazagon Dock Shipbuilders Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	4,110	3,517	4,472	4,635	4,921	4,062	5,756	7,857	9,499	11,471	13,055	12,887
Expenses	3,862	3,365	4,285	4,338	4,630	3,812	5,273	7,008	8,031	9,311	10,708	10,730
Operating Profit	221	129	157	261	263	226	441	801	1,416	2,093	2,267	2,077
OPM %	5.0%	3.7%	3.5%	6.0%	5.0%	6.0%	8.0%	10.0%	15.0%	18.0%	17.0%	16.1%
Other Income	759	764	563	615	544	447	395	685	1,098	1,109	1,135	1,086
Interest	15.99	17.01	20.01	36.01	13.01	11.01	14.01	9.01	8.99	28.03	74.04	61.02
Depreciation	44.03	39.04	52.07	64.12	69.09	60.09	75.05	76.11	83.11	115	97.13	105
Profit before tax	923	840	651	779	728	605	750	1,405	2,427	3,068	3,242	3,002
Tax %	39.0%	37.1%	39.0%	40.0%	48.0%	25.0%	25.0%	25.0%	25.0%	26.0%	25.0%	—
Exceptional items	0.00	0.00	0.00	0.00	−5.98	−94.77	−8.98	0.99	0.99	0.99	2.99	—
Net Profit	598	586	497	534	472	515	612	1,121	1,943	2,418	2,584	2,456
EPS (Rs)	11.98	11.76	11.09	11.89	11.67	12.76	15.16	27.79	48.06	59.88	64.09	60.87
Dividend payout %	17.0%	34.0%	49.1%	19.1%	46.1%	28.1%	29.1%	29.0%	29.0%	29.1%	28.0%	—

Mazagon Dock Shipbuilders balance sheet

₹ crore, at each year end.

Mazagon Dock Shipbuilders Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	198	198	248	223	223	201	201	201	201	201	201	201
Reserves	2,551	2,441	2,730	2,608	2,991	2,855	3,229	3,655	4,558	6,036	7,741	9,550
Borrowings	82.90	0.00	0.00	0.00	0.00	0.00	29.95	11.98	5.99	0.99	19.97	446
Other Liabilities	28,384	16,393	16,365	16,542	17,616	17,866	21,682	25,899	24,682	23,225	20,842	17,262
Total Liabilities	31,216	19,033	19,343	19,373	20,831	20,922	25,141	29,765	29,448	29,462	28,804	27,460
Fixed Assets	265	367	544	703	808	834	804	962	1,020	836	1,461	2,055
CWIP	39.86	170	97.70	84.66	88.68	79.80	79.75	86.72	61.84	71.77	133	251
Investments	298	323	375	428	430	483	517	541	587	677	763	913
Other Assets	30,613	18,174	18,325	18,156	19,504	19,525	23,740	28,176	27,779	27,879	26,447	24,240
Inventories	18,555	4,246	4,034	3,793	3,794	4,625	5,894	7,705	7,372	5,727	4,632	2,634
Trade receivables	752	924	749	1,117	1,480	1,439	969	1,009	1,006	1,853	1,072	2,618
Cash & equivalents	7,621	8,801	8,367	7,195	7,475	5,802	8,032	11,477	13,288	14,228	16,166	13,099
Total Assets	31,216	19,033	19,343	19,373	20,831	20,922	25,141	29,765	29,448	29,462	28,804	27,460

Mazagon Dock Shipbuilders cash flow

₹ crore, for each year.

Mazagon Dock Shipbuilders Cash flow
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	746	−1,002	491	64.92	−95.91	67.91	−163	1,514	683	2,102	−2,650
Cash from investing activity	561	494	348	417	454	349	326	−150	1,421	−1,301	1,167
Cash from financing activity	−119	−245	−608	−126	−606	−160	−183	−218	−449	−737	−931
Net cash flow	1,185	−753	231	355	−245	256	−18.95	1,145	1,652	66.89	−2,413
Capex	107	218	193	172	110	41.93	33.98	141	430	742	63.91
Free cash flow	615	−1,149	311	−110	−196	25.97	−203	1,401	347	1,296	−2,828
CFO / OP %	479.1%	−506.9%	507.1%	146.0%	43.0%	99.0%	32.1%	228.1%	96.0%	145.1%	−74.0%

Mazagon Dock Shipbuilders ratios

Working-capital days and returns, by year.

Mazagon Dock Shipbuilders Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	75	81	77	90	116	106	86	63	46	70	33	72
Inventory days	3,238	621	781	558	532	687	1,141	1,043	604	410	297	130
Days payable	123	159	173	352	409	703	1,233	835	365	320	239	223
Cash conversion cycle	3,190	543	684	296	239	90	−5	271	284	161	91	−21
Working capital days	−575	−574	−607	−430	−443	−310	−606	−644	−527	−425	−355	−186
ROCE %	—	33.9%	30.0%	22.9%	26.9%	23.9%	23.0%	20.9%	33.0%	44.0%	42.9%	36.0%

Mazagon Dock Shipbuilders: frequently asked questions

What are the latest quarterly results of Mazagon Dock Shipbuilders?

For the Sep 2026 quarter, Mazagon Dock Shipbuilders reported sales of ₹2,457 Cr, down 16.5% year on year and net profit of ₹347 Cr, down 53.8% year on year. The operating margin was 8.0%.

What is the annual revenue of Mazagon Dock Shipbuilders?

Mazagon Dock Shipbuilders' sales for the year to Mar 2026 were ₹13,055 Cr; over the last twelve months they were ₹12,887 Cr.

What is the net profit of Mazagon Dock Shipbuilders?

Net profit for the year to Mar 2026 was ₹2,584 Cr, and ₹2,456 Cr over the last twelve months. Earnings per share over the same trailing period were ₹60.87.

How much debt does Mazagon Dock Shipbuilders have?

Mazagon Dock Shipbuilders reported borrowings of ₹446 Cr at Mar 2026, against cash and equivalents of ₹13,099 Cr.

What is the free cash flow of Mazagon Dock Shipbuilders?

Cash from operations was −₹2,650 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹2,828 Cr.

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