Q1-FY25 · Sanjeev Singhal
We expect that a similar kind of performance, what we registered last year, this should continue. In case there are no surprises and there are no liabilities.
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Mazagon Dock Shipbuilders · tone and specificity signals across the available quarters.
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Q1-FY25 · Sanjeev Singhal
As far as our normal sustainable margins are concerned, these orders are on nomination basis, where the margins are around 8%.
Q1-FY25 · Sanjeev Singhal
A submarine has a working life of around 30 years, and with the medium refits and life certification, we can add another 10-12 years. So, the total from starting from the project execution till end of life, it is a 50-year cycle.
Q2-FY25 · Sanjeev Singhal
Between these two large programs, we have already taken three orders from the Indian Coast Guard and also one export order. Put this together, the complete contract, if it is they're executing, it is 31 ships. So this is basically a pillar for the time during which a large order may take some time to mature.
Q2-FY25 · Sanjeev Singhal
The normalized margin for our industry would be something around 12%-15%.
Q2-FY25 · Sanjeev Singhal
This CapEx will come to fruition because there is environmental clearance, there is civil works. It will take a minimum of four to five years from now for making it operational. Once it is becoming operational, we will be able to build very large-sized vessels.
Q2-FY26 · Ruchir Agrawal
Our margins will be around 12%-15%. This is only when we are at the completion of the project and we book all the unclaimed liabilities. Our margins are high.
Q2-FY26 · Ruchir Agrawal
The two contracts, one was for Coast Guard and another was for MPV. That is why this is the reason for dip in our PBT and PAT, if you consider on half year comparison basis.
Q2-FY26 · Captain Jagmohan
We would like to de-risk. We do not want to depend on a single large customer like the Indian Navy. Presently, probably 80%-90% of our order book comes from the Indian Navy.
Q3-FY25 · Sanjeev Singh
This is at EBIT level. Yes, including other income and everything, the 12%-15% of revenue.
Q3-FY25 · Sanjeev Singh
We have completed the Project 15 Bravo. All the deliveries are done. As far as this quarter profit is concerned, a substantial contribution is from Project 15 Bravo.
Q3-FY25 · Sanjeev Singh
None of these statements which you have made can be ascribed to me. I have never said INR 12,000 crores we are expecting this year.
Q4-FY25 · Ruchir Aggarwal
We cannot assume that since we have achieved 26% in one quarter in one year, we will be able to achieve the same across the board. So it is safe to have a guidance of approximately 15%.
Q4-FY25 · Ruchir Aggarwal
If we win one of the shipbuilding contracts of, let's say, 17 Bravo and the MCMV contracts, we could at least theoretically reach those order book levels. We will see. But I'm confident that the submarine orders we are likely to sign quickly, particularly the 75 additional submarines.
Q4-FY25 · Ruchir Aggarwal
The primary reason for difference [Q4 margin compression] is the provision we made in our books for the two contracts. One is for supply of FPV to Coast Guard, and the other is the Denmark contract, where management is of the view that there is a likelihood of incurring losses on those contracts.