Mazagon Dock Q2 Results 2025 Highlights: Net profit jumps over 28%, company declares interim dividend

Mazagon Dock Shipbuilders on October 27 also announced an interim dividend of ₹6 per equity share ₹5 each fully paid-up for the financial year 2025-26. Shareholders will get the dividend by November 26, 2025.

Mazagon Dock reported a revenue growth of 6.25 per cent in Q2 FY26 as compared to a year-ago period. The consolidated revenue was standing at ₹2929.24 crore, a jump of 6.25% as compared to ₹2,756.83 in the year-ago period.

The consolidated net profit of Mazagon Dock Shipbuilders rose 28.4 per cent to ₹709.87 crore in the quarter ended September 30 of FY26, as compared to ₹552.76 crore in the year-ago period.

According to Anshul Jain, Head of Research at Lakshmishree, Mazdock is currently trading around a crucial support zone at ₹2,776, and a weekly close below this level will confirm a breakdown, potentially leading the stock to fill the gap between ₹2,400– ₹2,394. Volumes have been muted, suggesting a lack of strong buying interest, though a short-term dead cat bounce cannot be ruled out.

However, the overall technical setup indicates bearish undertones, and unless the stock reclaims momentum above its key moving averages, the downside bias is expected to persist. Traders should remain cautious and avoid aggressive long positions until a clear reversal signal emerges.

Mazagon Dock share price closed 0.15% higher at ₹2,809 apiece on the BSE. The PSU Defence stock ended 0.16 % higher at ₹2,809.90 per share on the NSE.

According to Kalp Jain, Research Analyst, INVasset PMS, Mazagon Dock Shipbuilders is expected to deliver a steady Q2 performance, supported by strong execution in defence and shipbuilding orders. Revenue growth is likely to remain healthy, driven by ongoing naval projects and robust order book visibility. However, margins may face slight pressure due to higher input costs and slower absorption of fixed expenses. The company’s debt-free balance sheet, strong cash flows, and improving operational efficiency continue to position it well for sustained growth.

With the government’s focus on defence indigenisation and upcoming submarine and warship contracts worth nearly ₹70,000 crore, Mazagon Dock remains a key beneficiary of India’s naval expansion plans. Investors will closely watch management commentary on new orders, margin trajectory, and export opportunities, which could provide cues on the company’s long-term growth momentum and earnings visibility.

Mazagon Dock Q2 Results LIVE: The follow-on order for three Scorpene submarines, and six P75-I submarines can significantly elevate the order book and drive medium-term growth in revenue, Antique Stock Broking said. It believes the quarterly volatility in margins due to a spike in provisions is now largely behind us.

The brokerage firm remains positive on Mazagon Dock shares given the large order pipeline, unmatched position in submarine building, and government’s focus on developing the shipbuilding sector. It maintained earnings estimates and a ‘Buy’ rating with a target price of ₹3,858 at a target P/E multiple of 44x 1HFY28 core earnings.

Mazagon Dock Q2 Results LIVE: Mazagon Dock share price has remained flat in one month and has eased over 2% in three months. The PSU defence stock has gained 26% on a year-to-date (YTD) basis, while it has rallied 40% in one year. Mazagon Dock share price has delivered multibagger returns of 175% in two years and a staggering 3,242% returns in the past five years.

Mazagon Dock Q2 Results LIVE: Mazagon Dock share price is currently trading around a crucial support zone at ₹2,776, and a weekly close below this level will confirm a breakdown, potentially leading the stock to fill the gap between ₹2,400 – ₹2,394, noted Anshul Jain, Head of Research at Lakshmishree Investments.

“Volumes have been muted, suggesting a lack of strong buying interest, though a short-term dead cat bounce cannot be ruled out. However, the overall technical setup indicates bearish undertones, and unless the Mazagon Dock stock price reclaims momentum above its key moving averages, the downside bias is expected to persist. Traders should remain cautious and avoid aggressive long positions until a clear reversal signal emerges,” Jain said.

Mazagon Dock Q2 Results LIVE: India’s defence sector has witnessed strong growth driven by government initiatives such as the five positive indigenisation lists, defence corridors, 74% automatic FDI approval, 75% domestic procurement reservation, and MSME–start-up integration. These measures have boosted domestic production to ₹1.5 lakh crore, with a target of ₹3 lakh crore by FY30. The Defence Acquisition Council aims to approve ₹2 lakh crore of proposals in FY26, mostly benefiting domestic manufacturers.

Mazagon Dock Q2 Results LIVE: Mazagon Dock Shipbuilders on October 16 signed an exclusive MOU with Naval Group, France for offering the evolved Submarines to a friendly country for its ongoing submarine acquisition program.

Mazagon Dock Q2 Results LIVE: Antique Stock Broking estimates Mazagon Dock to report net profit growth of 2% to ₹575.8 crore from ₹563.8 crore, YoY. Sequentially, net profit is expected to jump 37% from ₹419.3 crore. Revenue is expected to rise 3% to ₹2,835 crore from ₹2,756.8 crore, YoY. EBITDA is seen flat at ₹503 crore.

Mazagon Dock Shipbuilders had reported a softer EBITDA margin in Q4FY25 and Q1FY26, mainly due to outsized provisions, and we expect these provisions to taper down from Q2FY26 onwards, said Antique Stock Broking.

Mazagon Dock Q2 Results LIVE: Mazagon Dock share price traded higher ahead of the Q2 results today. The PSU defence stock opened higher at ₹2,805.40 apiece as against its previous close of ₹2,804.85 apiece on the BSE. Mazagon Dock shares gained as much as 1% to an intraday high of ₹2,832.90 apiece on the BSE.

Mazagon Dock Q2 Results LIVE: Mazagon Dock Shipbuilders is expected to report modest growth in its revenue and net profit for the quarter ended September 2025. The defence company’s net profit and revenue are expected to rise in low-single digits on a year-on-year (YoY) basis, driven by a healthy order book. At the operating level, EBITDA is likely to remain flat, with margins estimated to improve sequentially.

Mazagon Dock Q2 Results LIVE: The board of directors of Mazagon Dock Shipbuilders will also consider declaration of first Interim Dividend for the Financial Year 2025-26.

Mazagon Dock Q2 Results LIVE: Mazagon Dock Shipbuilders, the PSU defence company, will announce its Q2 results today. The board of directors of the company is scheduled to meet today on 27 October 2025 to consider and approve the financial results for the second quarter of FY26.