- Mazagon Dock shares fell about 10% after Q2 FY27 results announcement
- Net profit dropped 54.1% to Rs 344 crore in July-September quarter
- Revenue from operations fell 16.5% to Rs 2,446 crore in the same period
Mazagon Dock shares fell around 10% after the announcement of second quarter results for the fiscal 2027 on Tuesday, October 27. The defence company's net profit fell 54.1% to Rs 344 crore in the Jult to Septmber quarter of the current financial year from Rs 750 crore in the corresponding period last year.
Revenue from operations dropped 16.5% to Rs 2,446 crore for the quarter ended on September 30 from Rs 2,929 crore in the year-ago quarter. Mazagon Dock's operating performance fell sharply during the quarter as earnings before interest, taxes, depreciation and amortisation (Ebitda) fell 71.4% year-on-year to Rs 199 crore from Rs 695 crore. Ebitda margin contracted sharply to 8.1% year-on-year from 23.7%.
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Along with Q2 results, Mazagon Dock board declared an interim dividend of Rs 5 per equity share of face value Rs 5 each for the financial year 2026-27. The company has fixed Tuesday, November 3, 2026, as the record date to determine shareholders eligible to receive the dividend. The dividend payment will be completed on or before November 26, 2026, Mazagon Dock said in an exchange filing.
The company's board also approved to get credit facilities of Rs 1,250 crore from State Bank of India (SBI). Additionally, it approved a proposal to raise the company's authorised share capital from Rs 323.72 crore, comprising 64.744 crore equity shares of Rs 5 each, to Rs 900 crore and 180 crore equity shares of Rs 5 each.
The proposal also includes a consequential alteration to the capital clause of the company's Memorandum of Association. The increase is subject to the requisite consent from the Department of Investment and Public Asset Management (DIPAM), through the administrative ministry, and approval from the company's members.
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