Mazagon Dock Q2 results: Profit declines 54% to ₹344 crore, ₹5/share dividend declared; stock crashes 10% intraday

Mazagon Dock Shipbuilders announced its July to September quarter results for the financial year 2026-27 on Tuesday, October 27, in which the company’s consolidated net profit declined 54% year-on-year (YoY) due to a 16% reduction in revenues and elevated expenses in the period.

NSE filings showed that Mazagon Dock’s consolidated net profit (attributable to owners) dropped 54% YoY to ₹344 crore in the September quarter of FY27, compared to ₹749 crore in the corresponding quarter of the previous fiscal year.

The company’s revenue from core operations also declined 16.4% year-on-year to ₹2,446 crore in the second quarter of FY27, in comparison to ₹2,929 crore in the same quarter of the previous year.

In the Q2 earnings, investors focused on the company’s decline in overall revenues in the period, which combined along with the 1.3% increase in total expenses in turn pressured down the margins while reducing profits.

An increase in allocations to provision expenses, other expenses, along with employee costs, added to the rise in total expenses in the Q2 FY27 results.

The company’s stock crashed 10%, hitting its 52-week low on Tuesday’s market, as investors reacted to the shipbuilding company’s Q2 earnings report and shrinking margins in the period.

₹5/share dividend declared

Mazagon Dock Shipbuilders’ board of directors declared a ₹5 per share interim dividend for all eligible shareholders with a face value of ₹5 apiece, according to the official announcement.

“Declaration of Interim Dividend of ₹5 per equity share of ₹5 each fully paid-up for the Financial Year 2026-27,” the company informed the stock exchanges.

Investors will be eligible for the interim dividend payment up to 24 hours ahead of the official record date of the corporate action. The company fixed Tuesday, November 3, as the record date for the issue.

The company will pay the dividend amount to shareholders on or before November 26, 2026.

Increase in authorised share capital

As per the NSE filing, the board also approved increasing the company’s authorised share capital to ₹900 crore, comprising 180 crore equity shares with a face value of ₹5 apiece, from the current ₹323.72 crore at 64,74,40,000 shares.

This process of increasing the maximum limit of equity is subject to the necessary statutory and regulatory approvals.

Stock tumbles 10% to 52-week low

After the Q2 earnings update, Mazagon Dock shares tumbled 10% to hit an intraday and 52-week low of ₹1,687.50 apiece on Tuesday’s market, in comparison to ₹1,875 apiece at the previous equity market close, according to NSE data.

Shares of Mazagon Dock surged to their 52-week high of 2,881.80 apiece on October 28, 2025.

In the long-term period, Mazagon Dock shares have delivered 1,228% returns to investors in the last five years, and have gained 69% in the last three years, according to the exchange data. However, the company’s stock has lost 38% in the past one year.

On a year-to-date (YTD) basis, the company's shares have declined 29% so far in 2026 and have lost 20% in the past one-month period. NSE data also showed that the stock has dropped 15% in the last five market sessions.

The company’s market capitalisation (m-cap) was at ₹70,752 crore as of the stock market close on Tuesday, October 27, 2026.