Questions across 3 calls

Krishna Doshi

Ashika Institutional Equities

Garden Reach Shipbuilders & Engineers Limited

Garden Reach Shipbuilders & Engineers Limited CC-Nov25.pdf · 2025-11-11

Congratulations, on a great set of numbers, sir. Sir, my first question would be with regards to the NGC order. So, I was just trying to understand like what kind of margins are we looking at in the NGC order? If you could just possibly give us a range or something?

Perfect. Okay, sir. Sir, my second question would be that we've seen like significantly higher gross margins in this quarter, but we ha ve also seen a spike when it comes to the subcontracting cost and other expenses. So, if you could please elaborate, what were this cost attributed to?

Garden Reach Shipbuilders & Engineers Limited CC-Jun25.pdf ·

Thank you so much for the opportunity. Cong ratulations on a good set of numbers, sir. Sir my first question happens to be for P‐17 Alpha project. Now the project will be coming to an end by August 2026. I just wanted to know how do we see the margins and the revenue panning out for the year FY '27 and FY '28? Do we see so me sort of an impact on the top line? Or how is it going ahead?

Thank you so much sir for the answer. The next question that I wanted to ask is with respect to the next‐generation corvette order, like we have set this very optimistic time line of si gning the contract by December. So, I just wanted to understand that how does it go post that? Because the first ship, as you mentioned earlier in the con call, it usually takes like some time. So how is it going to go like going forward, like when are we going to p ossibly deliver the first ship?

Mazagon Dock Shipbuilders Limited

Mazagon Dock Shipbuilders Limited CC-Nov25.pdf · 2025-10-28

Sir, so actually, I just wanted some guidance on the revenue front, as we are seeing that a lot of major projects have come to an end. So right now, the order book stands at around INR 27,415 crores. So just wanted to understand what the revenue growth is going to look like going ahead until we receive these major orders of submarines?

Okay, sir. And the second question would be, so recently, we saw this DAC approval of around INR 79,000 crores, where Landing Platform Dock is also supposed to be a major chunk of it. So what kind of opportunities are we seeing there?