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Mazagon Dock informed the exchanges last week that it will hold its board meet on Friday, February 7 to declare its December quarter results. The stock was an outperformer in comparison to its peers during the September quarter as it reported strong revenue and profit growth along with margin expansion, which was not the case with the other two shipbuilders.
Garden Reach will be the first among the three companies to report results when it does so on Monday, February 3. Along with its results, Garden Reach will also be considering the issue of an interim dividend to shareholders, for which it has already fixed the record date as Friday, February 7. Garden Reach shares have halved from their peak.
Cochin Shipyard, which currently is under Stage 1 of the Additional Surveillance Measures (ASM) framework, will be holding its board meeting on Thursday, February 6. The stock too has nearly halved from its 2024 peak.
Budget documents showed a 9.5% increase in the Defence budget to ₹6.81 lakh crore for financial year 2026.
The capital outlay is ₹1,92,387 crore, while the revenue expenditure is ₹4,88,822 crore, which includes ₹1,60,795 crore for pensions.
In terms of capital expenditure, ₹48,614 crore has been allocated for aircraft and aero engines, and ₹24,390 crore for the naval fleet. Additionally, ₹63,099 crore has been earmarked for other equipment.
Despite this, shares of all Defence companies, including the shipbuilders sold off during Saturday’s trading session.
