Mazagon Dock Q4 FY26 results: profit up 109% YoY

Key takeaway from the March 2026 quarter

Mazagon Dock Shipbuilders reported a strong March 2026 quarter (Q4 FY26), with both standalone and consolidated numbers showing year-on-year growth in revenue and profit. Consolidated net profit more than doubled from the year-ago quarter, while standalone profit rose over 40%. The update matters because it provides a clearer picture of execution-led performance in shipbuilding and submarine projects, a point cited alongside the results. The stock last closed at Rs 2,733.20 on April 29, 2026 on the NSE, as mentioned in the report.

Standalone Q4 FY26: revenue up 16%, profit up 42%

On a standalone basis, net sales rose to Rs 3,683.72 crore in March 2026, up 16.04% from Rs 3,174.41 crore in March 2025. Standalone quarterly net profit increased to Rs 463.99 crore from Rs 326.97 crore, a rise of 41.91%. EBITDA on a standalone basis stood at Rs 657.45 crore, up 50.77% from Rs 436.07 crore. EPS increased to Rs 11.50 in March 2026 from Rs 8.11 in March 2025. These figures indicate improved profitability alongside higher revenue.

Consolidated Q4 FY26: net profit up 109% YoY

On a consolidated basis, net sales (income from operations) came in at Rs 3,850.39 crore for March 2026, up 21.29% from Rs 3,174.41 crore in March 2025. Consolidated quarterly net profit rose to Rs 679.18 crore from Rs 325.29 crore, up 108.79% year-on-year. Consolidated EBITDA was reported at Rs 826.27 crore versus Rs 399.52 crore in the corresponding quarter last year, an increase of 106.82%. EPS increased to Rs 16.84 in March 2026 from Rs 8.06 in March 2025. The report also lists Dec 2025 consolidated net sales at Rs 3,601.09 crore and EPS at Rs 21.81.

What the detailed consolidated statement shows

The consolidated table shared alongside the results shows several line items that moved sharply year-on-year in Q4. Consumption of raw materials was Rs 1,825.69 crore in Mar 2026 compared with Rs 1,083.22 crore in Mar 2025. Purchase of traded goods was reported at Rs 572.18 crore in Mar 2026 versus nil in Mar 2025. Other income was Rs 283.38 crore in Mar 2026 compared with Rs 309.51 crore in Mar 2025, while interest cost rose to Rs 10.01 crore from Rs 1.11 crore. Tax for the quarter was Rs 160.57 crore versus Rs 79.39 crore a year earlier.

Full-year FY26 consolidated: sales and profit rise

For the year ended March 2026, consolidated net profit increased 7.04% to Rs 2,583.38 crore from Rs 2,413.51 crore in FY25. Sales rose 13.77% to Rs 13,006.31 crore from Rs 11,431.88 crore in the previous year. Another set of full-year figures in the report states consolidated profit at Rs 2,578.36 crore, up from Rs 2,420.53 crore. Consolidated total income for FY26 was reported at Rs 14,145.71 crore, up 12.77% from Rs 12,543.45 crore. FY26 EPS was stated at Rs 64.04 versus Rs 59.83 in FY25.

Margin snapshot reported with the results

The report includes operating profit margin (OPM) data, indicating a sharp improvement in the March quarter. OPM was listed at 14.10% for the quarter ended Mar 2026 compared with 3.76% in Mar 2025. Another line in the report similarly states margins rose to 14.1% from about 3.8% in the year-ago quarter. The same summary table lists PBDT for Q4 at Rs 816.26 crore versus Rs 398.41 crore in Q4 FY25, and PBT at Rs 793.38 crore versus Rs 369.81 crore.

Dividend recommendation mentioned in the update

Along with the Q4 performance, the company’s board recommended a final dividend of Rs 4.62 per share for the financial year ended March 2026. The report does not provide the record date or payment date. Investors typically track dividend announcements as they reflect the board’s proposed distribution to shareholders.

Stock context: last reported close

The report notes that Mazagon Dock shares closed at Rs 2,733.20 on April 29, 2026 on the NSE. No intraday high, low, or volume figures were provided in the text shared. The close is relevant as it anchors the market context around the results.

Summary table: Q4 FY26 versus Q4 FY25 (as reported)

Why the numbers drew attention

The Q4 FY26 print stands out mainly because consolidated profit rose by more than 100% year-on-year on a little over 21% revenue growth. The update attributes growth to increased execution in shipbuilding and submarine projects, linking operational delivery to financial outcomes. The full-year data, however, shows a more modest rise in consolidated net profit compared with the March quarter’s jump, suggesting Q4 was particularly strong relative to the broader year’s run rate. The next set of investor focus points, based on the report, are the dividend process and subsequent quarterly filings.