Mazagon Dock Shipbuilders Limited has announced the cessation of Shri Dattaprasad Prabhakar Kholkar as Non-Official Independent Director from its board, effective February 23, 2026. The cessation follows the completion of his designated 3-year tenure as an independent director.

Director Tenure Details

The company disclosed that Shri Kholkar was initially appointed as a Non-Official Independent Director on February 23, 2023, for a period of 3 years. His directorship has now concluded upon the natural expiry of this term.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has formally notified both the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) about this board change.

The disclosure was signed by Lalatendu Acharya, Company Secretary and Compliance Officer, and communicated to the stock exchanges on February 23, 2026. The company emphasized that this cessation represents the natural conclusion of the director's appointed term rather than any premature departure.

Company Information

Mazagon Dock Shipbuilders Limited, formerly known as Mazagon Dock Limited, operates as a Government of India undertaking. The company is headquartered at Dockyard Road, Mazagon, Mumbai, and maintains ISO 9001 certification. It trades on BSE under scrip code 543237 and on NSE under the symbol MAZDOCK.

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.

Interim Dividend Declaration

The Board of Directors declared an interim dividend of ₹7.50 per equity share for eligible shareholders. The record date has been fixed as February 13, 2026, for determining shareholder eligibility for the dividend payment.

Regulatory Compliance and Publication

Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published its unaudited financial results in Business Standard and Prahaar newspapers on February 7, 2026. The results were approved by the Board of Directors at their meeting held on February 5, 2026.

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