Mazagon Dock rises 4% on buzz of Rs 70,000-cr submarine talks with Germany's Thyssenkrupp

While the development has excited investors, analysts remain cautious. JPMorgan, in a note last week, said there was "little incremental positive newsflow" around the award of the P-75(I) contract. The brokerage has an “underweight” rating on Mazagon Dock with a price target of Rs 2,468, citing an unfavourable risk-reward equation even after the stock corrected nearly 30 percent from its peak of Rs 3,775.

On July 28, the company reported a net profit of Rs 452 crore for the first quarter of the financial year 2026. This marks a decline of around 35 percent on-year from the Rs 696 crore net profit reported in the corresponding quarter of the previous financial year. Sequentially, the firm's net profit rose nearly 39 percent quarter-on-quarter from the Rs 325 crore reported in Q4 FY25.

While net profit declined annually, the firm’s revenue from operations rose over than 11 percent on-year to Rs 2,626 crore in Q1 FY26. Revenue from operations however, fell more than 17 percent sequentially.

At about 9:30 am, shares of the company were trading at Rs 2,750, higher by 2 percent from the last close on the NSE. Mazagon Dock shares have tanked 23 percent in the last three months. However, they're still in green on a year-to-date basis, up 21 percent.

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