Defence player Mazagon Dock Shipbuilders Ltd shares cracked over seven percent in trade on Friday, May 30, after the publically owned firm posted a 50 percent fall in net profit for the fourth quarter ended March 31, 2025.
Mazagon Dock Shipbuilders posted a 51 percent decline in net profit for the fourth quarter of FY25, with earnings falling to Rs 325.3 crore from Rs 663 crore in the same quarter last year.
The Mumbai-based defence PSU saw its consolidated revenue from operations rise 2.3 percent year-on-year to Rs 3,174.4 crore, compared to Rs 3,103.7 crore in the corresponding period. Operating performance was weak, with EBITDA plunging 83 percent to Rs 90 crore from Rs 524 crore a year earlier.
For the full financial year, however, net profit rose 25 percent year-on-year to Rs 2,414 crore from Rs 1,937 crore in FY24, while revenue grew 21 percent to Rs 11,432 crore from Rs 9,467 crore.
At 9.18 am, shares of the firm slipped to Rs 3,485.4, down by 7.6 percent on the NSE.
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The defence player has been in focus lately, as reports suggest orders to the tune of Rs 44,000 crore could soon be placed for the Navy.
Citing defence ministry sources, Times of India reported on May 26 that the procurement case for 12 advanced minesweepers or mine countermeasure vessels (MCMVs) for the Navy, at an estimated cost of around Rs 44,000 crore, will soon be placed before the Rajnath Singh-led Defence Acquisition Council for the grant of “acceptance of necessity (AoN)”.
The MCMVs will bridge the gap in India's maritime defense to detect, track and destroy underwater mines.
The MCMVs will excel in locating, identifying, and neutralising sea mines, ensuring safe passage for friendly boats, and combating possible maritime security threats.
Over the past year, shares of the firm have rallied 130 percent, more than doubling investors' money. During this time, the Nifty 50 has rallied around 10.4 percent.
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