Ruchir Agrawal, Director – Finance, Mazagon Dock Shipbuilders, said the company’s order book could cross Rs 1 lakh crore in FY27 if the anticipated submarine and naval vessel orders come through. The company’s current order book stands at under Rs 18,000 crore.
“I had been communicating this for last six-seven months, and we expect that this as we receive this order for 75I or additional submarine for 75, then P-75I, then probably our order book will be in a good shape,” Agrawal said.
The company expects to deliver 15-17% revenue growth this year, he added.
Mazagon Dock is also stepping up its expansion plans with a proposed Rs 15,000 crore investment in a greenfield shipbuilding cluster in Maharashtra, while a large pipeline of naval orders could help rebuild its order book.
Agrawal said, “We have done a preliminary study, and as per our study, it seems that we will be investing something around 15,000 crores. We expect something revenue return of around 15 to 17% for our investors to come in, and we are looking for that revenue margins in this project.”
Greenfield project in Maharashtra
The project is part of the government’s Maritime Amrit Kaal Vision 2047 and is still at the planning stage. Mazagon Dock has worked on the DPR submitted by the Maharashtra government but will conduct its own due diligence before finalising the project’s scope and investment. The company will subsequently seek the required board and government approvals.
The proposed project is expected to take around 5-7 years to come up. The pace will depend partly on the incentives offered by the Maharashtra government, as the company expects external investors to participate in the project.
