Mazagon Dock Shipbuilders, a leading defence public-sector shipyard under the Ministry of Defence (MoD), announced its financial performance for the June-ended quarter (Q1 FY26) today, July 28, post market hours.
The defence major reported a consolidated net profit of ₹452 crore in Q1FY26, down 35% from ₹696 crore in the same period last year but higher than the preceding March quarter’s net profit of ₹325 crore.
The net profit was also the weakest since the September 2023 quarter, having peaked at ₹807 crore in Q3 FY25. At the top level, its revenue from operations stood at ₹2,625 crore, an 11.4% increase compared to ₹2,357 crore in Q1 FY25, but 26% lower than the ₹3,174 crore reported in Q4 FY25.
At the operating level, the company posted an EBITDA of ₹301 crore, down from ₹642 crore in the same quarter last year, marking a 35.3% year-on-year decline. The EBITDA margin also contracted sharply to 11.46% in Q1FY26, compared to 27.23% in Q1FY25. The employee benefit expenses and sub-contracting expenses
