Mazagon Dock shares in focus: A new order win puts the spotlight on the defence PSU

Shares of Mazagon Dock Shipbuilders are expected to be on investors' radar on Monday, September 7, as the company on Friday received a ₹117.99 crore order from Maharashtra State Electricity Transmission Company (MSETCL).

The order is for the supply, installation and commissioning of an AI-based Comprehensive Infrasecure Project across five substations and includes GST and other applicable duties.

The project has a 24-month execution period.

The order is notable as it expands Mazagon Dock’s exposure beyond its core defence shipbuilding business into AI-enabled infrastructure and security solutions for the power-transmission sector.

The company said the order is domestic and does not constitute a related-party transaction.

About Mazagon Dock Shipbuilders

Mazagon Dock Shipbuilders (MDL) is a Navratna defence PSU under the Ministry of Defence and one of India's key warship and submarine builders. The company is based in Mumbai and has historically been closely associated with India's naval shipbuilding programme.

Mazagon Dock's main business is construction and repair of warships and submarines for the Indian Navy and other defence customers. Its capabilities span ship design, construction, repair and refit, as well as submarine construction.

The company has built several major platforms for the Indian Navy and is currently executing multiple naval programmes. It is also expanding its capabilities to cater to the government's broader push for indigenisation of defence production.

The company's recent production activity includes the 14 Fast Patrol Vessel project for the Indian Coast Guard and the Next Generation Offshore Patrol Vessel programme.

Q1 FY27 earnings

As per the company's investor presentation, Mazagon Dock's revenue from operations (consolidated) came in at ₹2,943 crore for the June quarter of the fiscal year 2026-2027 (Q1 FY27), up 12% against ₹2,626 crore logged in the year-ago period.

Total income stood at ₹3,256 crore, up 10% against ₹2,949 crore in the corresponding quarter of the previous fiscal year.

EBITDA increased by 21.6% YoY to ₹760 crore.

Profit after tax (PAT) came in at ₹550 crore, up 21.6% against ₹452 crore seen in the June quarter of the previous fiscal year.

Its net worth was ₹10,504 crore at the end of the June quarter, as against ₹8,270 crore registered in the year-ago period.