Mazagon Dock Shipbuilders Reports Decline in Revenue and Profit in Q1 FY27

Veena Lathe - 0 min read

Last Updated: 22nd September 2026 - 04:41 pm

Mazagon Dock Shipbuilders saw its financial performance weaken further in the June 2026 quarter. Revenue came in at ₹910 crore, 7% lower than a year earlier, while net profit dropped 28% to ₹136 crore.

The numbers follow a weaker FY26 for the shipbuilder. Revenue for the full year was down 5%, while net profit was 24% lower.

Cash flow remained negative in FY26

Mazagon Dock Shipbuilders reported negative cash flow from operations of ₹2,654 crore in FY26. Free cash flow was also negative at ₹2,828 crore during the year.

The company reported other income of ₹1,139 crore in FY26. This accounted for about 35% of its pre-tax profit. The other income primarily comprised interest earned on customer advances.

The figures provide a view of the company’s cash generation alongside its reported profit for the financial year.

Company faces regulatory penalties 

Mazagon Dock Shipbuilders also faced penalties from the BSE and NSE over issues relating to the composition of its board and committees.

For the June 2026 quarter, the company received fines of approximately ₹9.7 lakh each from BSE and NSE for having an insufficient number of independent directors and for the improper constitution of its audit and nomination committees.

Similar penalties were imposed for the December 2025 and March 2026 quarters.

The appointment of directors at the company is controlled by the government.

Order book details not disclosed

The information available does not provide details of Mazagon Dock Shipbuilders’ current order book or any new order inflows.

As a result, the available financial disclosures do not quantify the company’s future revenue visibility from its order pipeline.

The company’s June 2026 quarter results therefore come against a backdrop of lower revenue and profit, negative operating cash flow in FY26 and repeated penalties relating to board and committee composition.

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