Mazagon Dock Shipbuilders’ shares rose over 2% on Tuesday after the PSU announced strong Q2FY26 results. The stock climbed 2.58% to ₹2,882.85 on the BSE. The company reported a consolidated net profit of ₹749.48 crore for the quarter, up 28.1% from ₹585.08 crore a year earlier. Revenue from operations grew 6.3% year-on-year to ₹2,929.24 crore, while its order book stood at ₹27,415 crore as of September 30, 2025.
Operating profit (EBITDA) surged 36.1% to ₹695 crore, with margins improving to 23.7% from 18.5%. According to Ashika Institutional Equity Research’s defence analyst Krishna Doshi, Mazagon Dock’s performance was supported by steady revenue and better margins due to provision reversals seen in earlier quarters. Despite a smaller order book than last year, new submarine contracts could lift it to ₹87,000 crore, keeping the long-term outlook positive.
The company announced a first interim dividend of ₹6 per share for FY26, with November 4 as the record date. Technically, the stock is consolidating above its key support at ₹2,730, and a breakout above ₹2,930 may signal renewed upside momentum.