Overview

• Mazagon Dock’s Q1 FY26 consolidated net profit declined by 35% year-on-year to Rs 452 crore, falling short of analysts’ estimates of around Rs 695 crore.
• EBITDA plunged 53% to Rs 302 crore after the company set aside Rs 510 crore for anticipated losses and cost escalations on fixed-price contracts.
• The stock tumbled over 5% to a three-month low of about Rs 2,645, erasing month-to-date gains and trimming its year-to-date advance to 19%.
• Brokerages Nirmal Bang and Antique Stock Broking kept their Buy ratings and target prices intact, forecasting margin recovery from the September quarter and robust mid-term growth.
• Securing additional Scorpene and P75I submarine orders could expand MDL’s order book from roughly Rs 32,000 crore to more than Rs 1.25 lakh crore, underpinning its long-term outlook.