Mazagon dock Q1 Results: profit drops 35% yo -y to RS 452 crore, sales rise 11%

State-Runned Defense Shipbuilder Mazagon Dock Shipbuilders reported a 35% on an annual basis (JoJ) in consolidated net profit for the quarter of June at RS 452 Crore, compared to RS 696 Crore in Q1FY25. The decrease in profit comes despite a steady increase in income and solid operational performance.

However, successive growth was robust, with the Q1 profit almost 39% rose from RS 325 Crore reported in Q4FY25.

The turnover from the activities increased 11% yo -ju to RS 2,625.6 Crore, an increase in RS 2,357 Crore in the same quarter last year. However, sales fell by 17% of RS 3,174 Crore at the quarterly-on-quarter.

The total income of the company for the quarter was RS 2,914.9 Crore, including RS 289.3 Crore in other income.

EBITDA for the period was RS 793.5 Crore, which translated into a healthy EBITDA margin of approximately 30.2%, powered by lower input costs and higher contributions of high margins projects.

The expenditure of Mazagon for the quarter amounted to RS 2,348 Crore, a decrease of 11% compared to RS 3,114 Crore in the quarter of March, led by moderation in raw material and sub-contract costs. Provisions also remained increased on RS 540 Crore. On the Tax Front, the company RS 293 Crore paid to the current tax, with a deferred tax credit of RS 145 Crore. Including associated contributions, the total profit RS 452 CRORE, with minimal changes in other extensive income.

Mazagon Dock is one of India’s leading defenders in the public sector who deals with the construction of warships and submarines for the Indian navy. It is also involved in ship repair and builds ships for commercial customers.