Mazagon Dock Q1 FY27 Results: Net Profit Jumps 22%, Revenue Rises 12%; Defence Shipbuilder Starts FY27 on a Strong Note
State-owned defence shipbuilder Mazagon Dock Shipbuilders Limited (MDL) has announced a solid financial performance for the first quarter of FY27, driven by healthy execution of defence projects and higher revenue.
The company reported double-digit growth in both revenue and profitability, reflecting continued demand for its naval shipbuilding and submarine programs. The Board of Directors approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, at its meeting held on July 30, 2026.
Q1 FY27 Consolidated Financial Highlights
Mazagon Dock delivered a healthy improvement across key financial metrics during the quarter.
| Particulars | Q1 FY27 | Q1 FY26 | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹2,942.7 crore | ₹2,625.6 crore | +12.1% |
| Total Income | ₹3,255.9 crore | ₹2,949.2 crore | +10.4% |
| Profit Before Tax | ₹686.5 crore | ₹566.9 crore | +21.1% |
| Net Profit | ₹550.5 crore | ₹452.2 crore | +21.7% |
| Earnings Per Share (EPS) | ₹13.62 | ₹11.21 | +21.5% |
Revenue Crosses ₹2,900 Crore
Revenue from operations increased to ₹2,942.7 crore, compared with ₹2,625.6 crore in the corresponding quarter last year. The growth was supported by ongoing execution of defence contracts and steady project progress.
Profitability Improves Significantly
Mazagon Dock’s profit before tax (PBT) rose to ₹686.5 crore, while net profit climbed to ₹550.5 crore, marking an increase of nearly 22% year-on-year.
The company also reported earnings per share (EPS) of ₹13.62, up from ₹11.21 in Q1 FY26, reflecting improved profitability for shareholders.
Standalone Performance Remains Strong
On a standalone basis, the company reported:
- Revenue from Operations: ₹2,771.0 crore
- Total Income: ₹3,080.8 crore
- Profit Before Tax: ₹684.1 crore
- Net Profit: ₹509.7 crore
- EPS: ₹12.64
Business Outlook
Mazagon Dock remains one of India’s leading defence shipyards and continues to benefit from the government’s Make in India initiative and increasing focus on defence modernization.
The company is executing several strategic naval projects, including warships and submarines for the Indian Navy. Its healthy order pipeline and strong execution capabilities are expected to support future revenue growth.
Management Update
The Board of Directors approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, during its meeting held on July 30, 2026. The company’s statutory auditors issued a limited review report without any modification, indicating no material issues with the reported financial statements.