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Mazagon Dock Q4 Results Review: Short-Term Blip, Long-Term Outlook Positive Says Nirmal Bang Maintaining 'Buy'
Nirmal Bang retains 'Buy' rating on Mazagon Dock, sees upto 25% potential upside
02 Jun 2025, 03:30 PM IST 
Mazagon Dock anticipates a notable enhancement in margins and profitability in the coming years as substantial orders come to fruition. (Photo: Mazagon Dock Shipbuilders/Facebook)
Mazagon Dock reported revenue of Rs 31.7 billion, up 2.3% YoY. Ebitda grew to Rs 900 million, a decline of 83%, mainly driven by provisioning expenses recognised in other expenses, which grew 436% YoY. In line with this, the Ebitda margin declined to 2.8% in Q4 FY25 versus 16.9% in 4Q4 FY24. Adjusted PAT came in at Rs 3.2 billion, down 51%.
