Mazagon Dock Shipbuilders Ltd (MAZDOCK)
₹2,293.80
Mkt cap
₹92,521 Cr
P/E ratio
35.80
P/B
9.48
Div yield
0.75%
ROE
29.20%
ROCE
36.00%
EPS (TTM)
₹64.07
Book value
₹242
52W range
2,065–2,997
Sector
Industrials
Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo/passenger ships, and offshore platforms. [1]
Health check
Constructive
ValuationCheap
ProfitabilityStrong
GrowthModerate
TechnicalsBearish
52-week range
−23.46% from high₹2,294
₹2,065+11.07% from low₹2,997
Current
₹2,293.80
Prev close
₹2,302.00
Day
−0.36%
Price performance
1D
−0.36%
1W
−2.25%
1M
−7.23%
3M
−14.42%
6M
−1.65%
1Y
−24.74%
YTD
−8.05%
Financials
FRevenue, profit & margin
P/E ratio
35.8×
MAZDOCK is 18% below the sector median of 43.5×
MAZDOCK35.8×
Sector median43.5×
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Trend | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,079 | 2,173 | 1,828 | 2,362 | 3,104 | 2,357 | 2,757 | 3,144 | 3,174 | 2,626 | 2,929 | 3,601 | 3,850 | |
| Expenses | 1,868 | 2,001 | 1,651 | 1,823 | 2,580 | 1,715 | 2,246 | 2,327 | 3,055 | 2,324 | 2,235 | 2,714 | 3,308 | |
| Operating Profit | 211 | 172 | 177 | 539 | 524 | 642 | 511 | 817 | 119 | 302 | 695 | 887 | 543 | |
| OPM % | 10% | 8% | 10% | 23% | 17% | 27% | 19% | 26% | 4% | 11% | 24% | 25% | 14% | |
| Other Income | 211 | 233 | 251 | 269 | 349 | 271 | 258 | 291 | 287 | 324 | 271 | 262 | 283 | |
| Interest | 2 | 1 | 1 | 1 | 1 | 1 | 5 | 5 | 8 | 35 | 8 | 6 | 10 | |
| Depreciation | 20 | 20 | 20 | 20 | 23 | 23 | 23 | 40 | 29 | 23 | 24 | 23 | 23 | |
| Profit before tax | 400 | 383 | 407 | 786 | 849 | 889 | 740 | 1,063 | 370 | 567 | 934 | 1,120 | 793 | |
| Tax % | 26% | 25% | 25% | 25% | 26% | 25% | 25% | 28% | 21% | 26% | 24% | 25% | 20% | |
| Net Profit | 326 | 314 | 333 | 627 | 663 | 696 | 585 | 807 | 325 | 452 | 749 | 880 | 674 | |
| EPS in Rs | 8.09 | 7.79 | 8.25 | 15.54 | 16.43 | 17.26 | 14.50 | 20.01 | 8.06 | 11.21 | 18.58 | 21.81 | 16.84 | |
| Raw PDF |
Earnings
EResults dates & reactionsNext results
30 Jul '26
Fresh quarters land in the Financials table above, tagged NSE until screener catches up.
Avg earnings-day move −0.15% · closed higher next day 7 of last 22
| Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 | Q4FY25† | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Broadcast | 10 Aug '23◦ | 8 Nov '23◦ | 12 Feb '24◦ | 29 May '24◦ | 14 Aug '24◦ | 5 Nov '24◦ | 7 Feb '25◦ | 6 Jun '25◦ | 28 Jul '25◦ | 27 Oct '25◦ | 5 Feb '26◦ | 30 Apr '26◦ |
| Earnings day | −2.95% | +0.56% | −1.59% | −1.85% | −0.47% | +1.94% | −1.30% | −1.05% | −2.49% | −1.07% | +0.17% | −4.45% |
| +1 day | +3.84% | −0.09% | −1.07% | −5.16% | −5.48% | +1.40% | −2.02% | −0.21% | −1.08% | −1.29% | +3.09% | −3.65% |
| +5 days | +4.12% | −0.83% | −2.07% | −5.86% | −11.74% | −7.31% | −6.60% | −7.02% | +2.08% | −4.53% | −2.01% | −6.12% |
| +15 days | +6.47% | +1.75% | −4.26% | +15.99% | −11.97% | +9.44% | −3.04% | −4.71% | −0.61% | −0.96% | −7.23% | −9.62% |
| +30 days | +24.54% | +15.23% | −14.57% | +65.40% | −16.06% | +12.54% | +18.52% | −13.31% | +0.16% | −13.21% | −7.99% | −9.72% |
| Filing | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL |
Corporate actions
CLast 6 months| Kind | Value | Ex-date | Record |
|---|---|---|---|
| dividend Interim Dividend - Rs 7.50 Per Share | 7.50 | 13 Feb '26 | 13 Feb '26 |
Shareholding
Sas of Jun 202681.22%Promoter
Promoters81.22%
FIIs1.72%0.01
DIIs5.02%0.07
Public12.04%0.09
Ownership trend
Peers
P5 companiesValuation vs quality
P/E × ROCE · bubble = market cap| Name | CMP | P/E | Mkt Cap | Div Yld | NP Qtr | Qtr Profit Var | Sales Qtr | Qtr Sales Var | ROCE |
|---|---|---|---|---|---|---|---|---|---|
| Mazagon Dock | ₹2,293.80 | 35.81 | 92,521 | 0.75% | 674 | +108.79% | 3,850 | +21.29% | 35.98% |
| Cochin Shipyard | ₹1,392.40 | 51.12 | 36,641 | 0.70% | 276 | −3.73% | 1,484 | −15.55% | 15.95% |
| Swan Defence | ₹2,427.70 | — | 12,790 | 0.00% | −142 | −588.38% | 236 | +4,712.22% | −7.55% |
| Laxmipati Engg | ₹500.00 | — | 288 | 0.00% | 24 | −30.42% | 44 | +64.34% | 21.84% |
| Hariyana Ship | ₹103.70 | 5.82 | 64 | 0.00% | −9 | +713.04% | 0 | — | 11.79% |
| Median: 4 Co. | ₹1,843.10 | 43.47 | 24,715 | 0.35% | 150 | −17.07% | 860 | +42.81% | 18.89% |
Filings
DAnnual reports5
Concall transcripts46
PPTApr 2026PPTMar 2026PPTFeb 2026TranscriptNov 2025PPTNov 2025RECNov 2025PPTJul 2025TranscriptJun 2025PPTJun 2025RECJun 2025TranscriptFeb 2025PPTFeb 2025RECFeb 2025TranscriptNov 2024PPTNov 2024TranscriptAug 2024PPTAug 2024RECAug 2024TranscriptJun 2024TranscriptJun 2024TranscriptJun 2024PPTJun 2024RECJun 2024RECMay 2024
Credit ratings4
Announcements5
Board Meeting Intimation for Approval Of The Unaudited Financial Results For The Quarter Ended On 30 June 2026. 2h - Board meeting on 30 July 2026 to approve Q1 FY27 results; trading window closed till 1 August 2026.Announcement under Regulation 30 (LODR)-Press Release / Media Release 11 Jul - INS Mahendragiri commissioned into Indian Navy on 11 July 2026; MDL built fourth Nilgiri-class frigate.Announcement under Regulation 30 (LODR)-Change in Management 3 Jul - MDL reports internal promotions of three technical executives, effective retrospectively1 July 2025 and 1 January 2026.Closure of Trading Window 25 Jun - Trading window closed1 July 2026 until 48 hours after Q1 FY27 results.Announcement under Regulation 30 (LODR)-Change in Management 15 Jun - Smt. Dew Nair appointed General Manager (Technical)1 July 2025.