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HomeMarket NewsMazagon Dock Shipbuilders Q1 Results: Stock at day's low ahead of earnings
Mazagon Dock's EBITDA margins may see an expansion both year-on-year as well as sequentially, while net profit may see a 5% growth from the year-ago quarter, according to Nirmal Bang's estimates.
Shares of Mazagon Dock Shipbuilders Ltd. are trading with cuts and are at the lowest point of the day ahead of their June quarter results that will be reported later in the day on Monday, July 28.
According to estimates from brokerage firm Nirmal Bang, Mazagon Dock's revenue is likely to decline by 9% from last year and 11% sequentially to ₹2,828 crore, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) is likely to see a jump of 18% from the year-ago period.
EBITDA margins may see an expansion both year-on-year as well as sequentially, while net profit may see a 5% growth from the year-ago quarter, according to Nirmal Bang's estimates.
Mazagon Dock's operational performance during the March quarter was dented by higher expenses, with sub-contracting expenses seeing a near 10-fold jump from the same quarter last year. Sub-contract expenses during the quarter stood at ₹590 crore compared to ₹63.5 crore in the base quarter.
The defence equipment manufacturer though, did manage to surpass its full year revenue growth guidance.
Shares of Mazagon Dock Shipbuilders are trading 1.9% lower ahead of the results announcement at ₹2,830. The stock is down 25% from its record high and has corrected 13% in the last one month.
