Defence public sector undertaking Mazagon Dock Shipbuilders Ltd. (MDL) reported a strong financial performance for the first quarter of the current financial year, with consolidated net profit rising 21.5% year-on-year to ₹549 crore. The company also recorded double-digit revenue growth, driven by improved operational performance and higher execution levels. The results were announced through a regulatory filing on Thursday.
According to the company's filing, revenue from operations increased 12% to ₹2,943 crore, compared with ₹2,626 crore in the corresponding quarter of the previous financial year. The latest performance marks the first time the company's quarterly revenue has crossed the ₹2,900-crore milestone, reflecting sustained momentum in its defence shipbuilding business.
Mazagon Dock also posted a significant improvement in operating profitability during the quarter. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) rose 48% year-on-year to ₹446.6 crore, up from ₹301.7 crore in the same period last year. The strong increase indicates better operational efficiency and improved execution across the company's ongoing projects.
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The company's EBITDA margin expanded to 15.2%, compared with 11.5% in the year-ago quarter. The higher margin suggests that Mazagon Dock was able to improve profitability despite the challenges typically associated with large-scale defence manufacturing projects. The improvement in margins contributed significantly to the overall growth in quarterly earnings.
Mazagon Dock is one of India's leading defence shipbuilders, undertaking the construction of warships and submarines for the Indian Navy and other maritime agencies. The company continues to play a key role in the government's Atmanirbhar Bharat and defence indigenisation initiatives, with a robust order book supporting long-term production and revenue visibility.
The strong first-quarter results reinforce Mazagon Dock's operational strength and its ability to execute complex defence projects efficiently. With higher revenue, expanding margins and healthy profit growth, the defence PSU has started the financial year on a positive note, reflecting continued demand in the domestic defence manufacturing sector and sustained progress on strategic naval programmes.
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