Mazagon Dock Shipbuilders reported a steady performance for the third quarter ended December 31, 2025, with growth in both revenue and profitability, according to its unaudited consolidated financial results.
For Q3 FY26, Mazagon Dock Shipbuilders posted revenue from operations of Rs 3,60,109 lakh, compared with Rs 3,14,362 lakh in the same quarter last year, marking a year-on-year growth of nearly 15%. Including other income, total income for the quarter stood at Rs 3,86,290 lakh, up from Rs 3,43,431 lakh in Q3 FY25.
On the profitability front, profit before tax (PBT) came in at Rs 1,11,963 lakh, compared with Rs 1,06,257 lakh in the year-ago quarter. After accounting for tax expenses, profit for the year (after share of associates) stood at Rs 87,978 lakh, registering an increase from Rs 80,704 lakh in Q3 FY25.
Cost and expense performance
Total expenses during the December quarter rose to Rs 2,74,327 lakh, compared with Rs 2,37,174 lakh a year ago. The increase was mainly driven by higher cost of materials consumed, which stood at Rs 1,72,038 lakh, up from Rs 97,330 lakh in the corresponding quarter last year. Employee benefit expenses were reported at Rs 25,060 lakh, while depreciation and amortisation expenses stood at Rs 2,321 lakh.
| Particulars | Q3 FY26 | Q3 FY25 | YoY change (%) |
|---|---|---|---|
| Revenue from operations | 3,60,109 | 3,14,362 | +14.6% |
| Total income | 3,86,290 | 3,43,431 | +12.5% |
| Total expenses | 2,74,327 | 2,37,174 | +15.7% |
| Profit before tax (PBT) | 1,11,963 | 1,06,257 | +5.4% |
| Profit for the year | 87,978 | 80,704 | +9.0% |
Despite the rise in expenses, Mazagon Dock maintained stable operating performance, supported by higher execution levels and strong order book-led activity during the quarter.
Nine-month performance
For the nine months ended December 31, 2025, Mazagon Dock Shipbuilders reported total income of Rs 10,01,194 lakh, compared with Rs 9,08,225 lakh in the corresponding period last year. Profit for the nine-month period stood at Rs 2,08,141 lakh, broadly flat compared to Rs 2,08,822 lakh reported in the same period of the previous financial year.
The Q3 results indicate consistent execution momentum for Mazagon Dock Shipbuilders amid sustained demand in the defence shipbuilding segment.
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