Mazagon Dock Shipbuilders has declared its second interim dividend of ₹7.5 per share, marking another significant return to shareholders during the current financial year.

Dividend Declaration Details

The company's board has approved the distribution of ₹7.5 per share as the second interim dividend, reflecting the management's confidence in the company's financial stability and cash generation capabilities.

Shareholder Returns Strategy

This dividend announcement underscores Mazagon Dock Shipbuilders' commitment to maintaining regular shareholder returns while balancing operational requirements and future growth initiatives. The second interim dividend payment demonstrates the company's ability to generate consistent cash flows from its shipbuilding operations.

Financial Performance Indicator

The declaration of a second interim dividend serves as a positive indicator of the company's financial health and operational efficiency. This move reflects management's confidence in sustaining profitability levels that support both business operations and shareholder value creation.

Mazagon Dock Shipbuilders has released its third quarter financial results for FY 2025-26, demonstrating robust operational performance alongside significant achievements in naval vessel delivery and strategic partnerships. The defense shipbuilding company showcased strong revenue growth while maintaining healthy profitability metrics during the quarter.

Financial Performance Overview

The company's consolidated financial results for Q3 FY 2025-26 reflect strong business execution and project delivery capabilities. Revenue growth was accompanied by sustained profitability, though operating margins faced some pressure compared to the previous year.

Revenue and Profitability Analysis

Mazagon Dock Shipbuilders achieved consolidated revenue from operations of ₹36.01 billion in Q3 FY 2025-26, representing a significant increase from ₹31.44 billion in the corresponding quarter of the previous year. This growth of ₹4.57 billion demonstrates the company's strong project execution capabilities and order book conversion.

The company reported consolidated net profit of ₹8.80 billion for the third quarter, compared to ₹8.07 billion in Q3 FY25, marking a year-on-year growth of ₹0.73 billion. Total income reached ₹38.63 billion, up from ₹34.34 billion in the same period last year.

EBITDA and Operational Metrics

EBITDA for the quarter stood at ₹11.49 billion, compared to ₹11.08 billion in Q3 FY25, showing an increase of ₹0.41 billion. However, the operating margin declined to 24% from 25% year-on-year, indicating higher operational costs relative to revenue growth. The company maintained strong sequential growth with EBITDA improving from ₹9.65 billion in Q2 FY26.

Major Corporate Developments

During the quarter, the company achieved several significant milestones including the delivery of the third stealth frigate 'Taragiri' to the Indian Navy on November 28, 2025. The company also signed strategic partnerships, including an exclusive MoU with Naval Group, France for evolved Scorpene submarines and a teaming agreement with Swan Defence and Heavy Industries for Landing Platform Dock construction.

Order Book and Future Outlook

The company maintains a robust order book of ₹23,758 crores as of December 31, 2025, spanning various naval platforms including destroyers, frigates, submarines, and coast guard vessels. Key projects include P17A stealth frigates, coast guard vessels, and submarine maintenance contracts, providing strong revenue visibility for future quarters.

Source: Mazagon Dock Shipbuilders Limited Corporate Investors Presentation Q3 FY 2025-26