Mazagon Dock Q2 profit falls 54% as EBITDA slumps 71%
Mazagon Dock's net profit dropped 54.1% on a sharp margin squeeze, and its shares fell as much as 10%. The board declared an interim dividend of Rs 5 per share.
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what happened
According to Moody's, Mazagon Dock Shipbuilders posted Q2 FY27 net profit of Rs 344 crore, down 54.1% from Rs 749 crore a year earlier. Revenue fell 16.5% to Rs 2,446 crore from Rs 2,929 crore. EBITDA dropped more steeply, to Rs 199 crore from Rs 694 crore, a decline of 71.3%. The EBITDA margin narrowed to 8.1% from 23.7%, a contraction of 1,560 basis points. The company's shares fell as much as 10% on 27 October.
The board declared an interim dividend of Rs 5 per share, with 3 November 2026 as the record date and 26 November 2026 as the payment deadline. It also approved Rs 1,250 crore of additional credit from State Bank of India, Mumbai, to back a standby letter of credit for subsidiary Colombo Dockyard PLC. Separately, the board proposed raising authorised share capital from Rs 323.72 crore to Rs 900 crore, subject to approvals from the ministry and shareholders.
why it matters
The bigger signal for investors is that operating profit fell far faster than revenue, pointing to weak profitability on current work. That raises questions about margins in coming quarters. At the same time, the dividend and the subsidiary financing show the company is keeping shareholders and contracts supported.
market impact
Mazagon Dock shares: pressure from a sharp drop in profit and margins
- Mazagon Dock shares pressure down — EBITDA and profit fell much faster than revenue, squeezing the margin to 8.1%
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sources
- Mazagon Dock Q2 Profit Plunges 54%, EBITDA Crashes 71% — Moody's, 27 October 2026 at 15:03 UTC
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