Mazagon Dock Shipbuilders Limited outlined a series of upcoming defence manufacturing programmes that are expected to drive production volumes over the next several years. The company is working toward contract finalisation for three additional Scorpene-class submarines under Project 75 and six submarines under Project 75I, supported by an operational capacity that allows up to eleven submarines to be built concurrently. “We anticipate that before the financial year ending, we should have signed the contract for the 75I,” said Capt. Jagmohan, Chairman and Managing Director.
The company expects revenue of approximately INR 12.5 billion for the 2025–26 financial year and moderate growth the following year. The current order book stands at INR 27.4 billion, with expectations of exceeding INR 100 billion by the 2026–27 financial year driven by new submarine and surface-ship orders. “In excess of INR 100 billion,” said Capt. Jagmohan, when asked about the expected order book size.
Mazagon Dock is preparing to participate in several major naval procurement programmes, including the Landing Platform Dock project valued at INR 35–40 billion, the 17 Bravo frigates, and the Mine Countermeasure Vessel programme. Work on cost-plus offshore platforms for ONGC is progressing, with the company aiming to complete a significant portion of the INR 4.8 billion Deen Dayal field project by May 2026.
The company’s commercial shipbuilding plans form the next phase of expansion as it moves to diversify beyond defence. The acquisition process for Colombo Dockyard in Sri Lanka is in its final stages, with plans to scale its revenue from INR 1 billion to INR 1.5 billion. “We anticipate that in the next year or so, we will be able to ramp it up to INR 1.5 billion,” said Capt. Jagmohan, Chairman and Managing Director. Colombo Dockyard operates in commercial shipbuilding and ship repair, with existing expertise in bulk carriers and cable-laying vessels.
Mazagon Dock is also progressing with a greenfield shipyard in Tuticorin, Tamil Nadu. The first phase involves an investment of INR 5 billion over three to four years, with a full build-out estimated at INR 15–18 billion across multiple phases. The facility will be capable of constructing Very Large Crude Carriers with deadweight capacity of around 300,000 tonnes and ship lengths of more than 300 metres. “The plan is to develop it into a greenfield shipyard where vessels like Very Large Crude Carriers can be constructed,” said Biju George, Director (Shipbuilding).
Work continues on infrastructure enhancements at existing locations, including the Nhava Yard and South Yard Annex, where a combined INR 1 billion investment is planned. The floating dock, currently under construction, is expected to be completed within the financial year.
Mazagon Dock Shipbuilders was founded in 1934 and is engaged in the construction of submarines, surface combatants, offshore platforms and specialised vessels for defence and commercial sectors.
