Mazagon Dock Shipbuilders Limited has submitted to the Exchange, the Audited Financial Results (Consolidated and Standalone) for the quarter and year ended 3 1 March 2026.
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Mazagon Dock Shipbuilders reported FY26 standalone revenue of Rs 12,83,964 lakh (up 12.3% YoY) and consolidated revenue of Rs 13,08,531 lakh (up 14.5% YoY). Standalone PAT grew 4.8% to Rs 2,43,577 lakh while consolidated PAT increased 6.8% to Rs 2,57,836 lakh. The Board recommended a final dividend of Rs 4.62 per share (total dividend Rs 18.12/share including interim dividends). The company acquired a 51% controlling stake in Colombo Dockyard PLC (CDPLC) during the year, which is now consolidated. Auditors issued unmodified opinions on both standalone and consolidated results. Notably, operating cash flow turned significantly negative at Rs -3,23,477 lakh (standalone) due to large working capital outflows, primarily from contract liability reduction and trade receivable buildup.
Revenue growth is strong at 12-14% but PAT growth is modest at 5-7%. The negative operating cash flow despite healthy profits is a concern and may impact investor sentiment. The dividend declaration and new subsidiary acquisition are positive developments.