Mazagon Dock Shipbuilders Limited has submitted to the Exchange, the unaudited Financial Results (Standalone & Consolidated) for the quarter ended Jun 30, 2025.
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Mazagon Dock Shipbuilders reported its Q1 FY26 results with consolidated revenue from operations of ₹2,62,559 lakhs, up about 11% from ₹2,35,702 lakhs in the same quarter last year. However, profit before tax fell sharply to ₹56,685 lakhs from ₹88,879 lakhs a year ago, and profit after tax dropped to ₹45,215 lakhs (consolidated) and ₹41,928 lakhs (standalone), down roughly 35% year-on-year. Standalone EPS came in at ₹10.39 versus ₹16.51 in Q1 FY25. A major reason for the profit squeeze was a steep jump in provisions, which surged to ₹54,010 lakhs from just ₹3 lakhs in the year-ago quarter, eating into margins. Consolidated EPS stood at ₹11.21. The statutory auditors (C.R. Sagdeo & Co.) issued an unmodified limited review report on both the standalone and consolidated results.
Despite healthy revenue growth, the sharp PAT decline and unusually high provisions are negative signals that may weigh on the stock in the near term. Investors should watch for management commentary on the nature of these provisions and whether margins normalise in coming quarters.