What Mazagon Dock Shipbuilders does

Mazagon Dock Shipbuilders Limited (MDL) is a Navratna Defence Public Sector Undertaking under the Indian Ministry of Defence, incorporated in 1934 and headquartered in Mumbai. It is India's premier warship and submarine constructor, having built 806 vessels since 1960, including 31 warships and 8 submarines, with flagship programs comprising the Project 17A Nilgiri-class stealth frigates (seven ships, 75%+ indigenous content), Project 15B Visakhapatnam-class destroyers, and the Project-75 Scorpene-class submarine fleet (six boats, now complete).

The company operates CAD/CAM/CIM-enabled shipyard facilities spanning the Mumbai dockyard, Nhava Yard, Alcock Yard, and Anik Chembur, with proposed expansion to a Rs 29,253 crore mega cluster at Dugarajapatnam, Andhra Pradesh. Core technology capabilities span stealth warship construction, conventional submarine building (with AIP technology transfer from TKMS for the upcoming P-75I program), integration of BrahMos and Barak-8 weapon systems, MF-STAR AESA radar, and indigenous content localisation such as the Exide battery substitution on Scorpene-class boats. AI integration today is limited to predictive maintenance and drone surveillance on NGOPV platforms.

MDL monetises primarily through long-duration government defence contracts recognised on percentage-of-completion basis, with milestone-based billing tied to shipbuilding stages. Revenue is concentrated on the Indian Navy and Coast Guard (B2G), supplemented by commercial vessel exports (e.g., six Multi-Purpose Vessels for Navi Merchants Denmark), offshore engineering for ONGC, and ship repair services. FY26 revenue of Rs 12,839.64 crore (12.3% YoY growth) and PAT of Rs 2,435.77 crore were supported by an order book of Rs 20,535 crore as of March 2026, with strategic expansion underway through the 51% acquisition of Colombo Dockyard PLC (Sri Lanka) for Rs 236.95 crore to build overseas manufacturing capacity.

Name

Mazagon Dock Shipbuilders

Legal name

Mazagon Dock Shipbuilders Limited

Website

https://mazagondock.in

Company type

Public

Founded year

1934

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Mazagon Dock Shipbuilders is a Navratna Defence PSU building warships, stealth frigates, and submarines for the Indian Navy and Coast Guard, with a Rs 20,535 crore order book and FY26 revenue of Rs 12,839.64 crore.

Ownership category

akta.pro rank

Product category

Defence Naval Shipbuilding

NAICS

Ship and Boat Building (3366), Ship Building and Repairing (336611), Boat Building (336612)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Surface Combatants (Destroyers, Frigates, Corvettes) (IMAJABAA)

akta.pro secondary industries

Patrol, Interceptor & Law-Enforcement Craft (Coast Guard, Customs) (IMAJADAD), Naval & Government Vessel Maintenance & Modernization (TLAKAKAB), Auxiliary & Logistics Naval Vessels (Replenishment, Support, Hospital) (IMAJABAD)

Keywords

• Warship construction
• Submarine building
• Naval shipbuilding
• Offshore patrol vessels
• Ship repair services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D

Revenue model

1. Defense Warship Construction: MDL constructs warships including stealth frigates, destroyers, corvettes, and missile boats for the Indian Navy. Revenue recognized on percentage completion basis with milestone-based billing tied to shipbuilding stages. Major programs include Project 17A (Nilgiri-class frigates) and Project 15B (Visakhapatnam-class destroyers).
2. Submarine Construction: Construction of conventional submarines (Scorpene-class/Kalvari-class) for Indian Navy under Project-75 and upcoming Project-75I with German technology transfer. Long-duration contracts with significant revenue visibility.
3. Coast Guard Programs: Building offshore patrol vessels, next-generation OPVs, and fast patrol vessels for Indian Coast Guard. Includes vessels like Vikram-class, Samarth-class OPVs, and Next Generation Offshore Patrol Vessels (NGOPVs).
4. Offshore Engineering: Offshore construction and engineering services including wellhead platforms, pipeline replacement projects for ONGC. Provides infrastructure development for oil and gas sector.
5. Commercial Vessel Building: Building commercial vessels including cargo ships, tankers, tugs, dredgers, multipurpose support vessels for domestic and international clients. MDL has delivered vessels to Navi Merchants Denmark.
6. Ship Repair and Maintenance: Repair and refit services for naval and commercial vessels at Mumbai shipyard facilities.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Mazagon Dock Shipbuilders Limited designs, builds, and repairs warships, submarines, and commercial vessels from its Mumbai shipyards. The company's portfolio spans stealth frigates, destroyers, conventional submarines, offshore patrol vessels, fast patrol vessels, corvettes, missile boats, tugs, dredgers, multi-purpose cargo vessels, and offshore oil platforms. Its primary customers are the Indian Navy, Indian Coast Guard, ONGC, and select international commercial clients.

Product overview

Mazagon Dock Shipbuilders Limited (MDL) operates as a Navratna Defence Public Sector Undertaking and India's premier shipbuilder, offering a comprehensive portfolio of naval and commercial vessels. The company builds advanced warships including Project 17A Nilgiri-class stealth frigates and Project 15B Visakhapatnam-class destroyers featuring indigenous content exceeding 75%, conventional submarines under Project 75 (Scorpene-class), and Coast Guard vessels such as Next Generation Offshore Patrol Vessels (NGOPV) and Fast Patrol Vessels (FPV). The commercial portfolio encompasses multi-purpose support vessels, tugs, dredgers, cargo vessels, and offshore structures. MDL's products are characterised by indigenous design capabilities through the Naval Design Bureau, advanced stealth and combat systems integration, and growing export potential for both naval and commercial segments.

Differentiator

Problem solved

Functional benefit

Products and services

• Project 17A Nilgiri-class Stealth Frigates Advanced indigenous stealth frigates designed by the Indian Navy's Warship Design Bureau with over 75% indigenous content, BrahMos cruise missiles, Barak-8 air defence systems, and multi-mission combat capabilities for anti-air, anti-surface, and anti-submarine warfare. Built for the Indian Navy under Project 17A.
• Project 15B Visakhapatnam-class Destroyers Indigenously designed and built 6,700-tonne stealth destroyers featuring advanced combat systems, missile payloads, and integrated platform management systems for the Indian Navy. Follow-on to Kolkata-class destroyers.
• Project 75 Scorpene-class Submarines Conventional diesel-electric submarines built under Transfer of Technology from Naval Group (France), featuring advanced sonar, combat systems, and Air-Independent Propulsion capabilities for underwater warfare operations. Six boats built for the Indian Navy under Project-75.
• Next Generation Offshore Patrol Vessels (NGOPV) Advanced maritime surveillance vessels for the Indian Coast Guard featuring AI-based predictive maintenance systems, remotely-piloted drones, and enhanced coastal patrol capabilities for EEZ protection and maritime security.
• Fast Patrol Vessels (FPV) High-speed coastal patrol vessels built for the Indian Coast Guard, designed for maritime surveillance, anti-smuggling operations, search and rescue, and fisheries protection missions. A 14-vessel FPV programme is under construction.
• Multi-Purpose Support Vessels (MSV) Versatile vessels designed for deck cargo, diesel fuel, fresh water carriage, and offshore operations, equipped with DP-2 systems for automatic position and heading control. Example: MSV Herculies.
• ASD Tugs and Voith Tugs Harbour and ocean-going tugs including 25T bollard pull ASD (Azimuth Stern Drive) tugs and 45T bollard pull Voith tugs for ship handling and salvage operations, built for port authorities and maritime operators.
• Khukhari-class Corvettes State-of-the-art missile corvettes designed for good manoeuvrability, speed, and striking ability, with helicopter operational capabilities for the Indian Navy.
• Vibhuti-class Missile Boats Fast attack missile boats designed and built for the Indian Navy featuring anti-ship missile systems for coastal defence operations.
• Offshore Patrol Vessels (Vikram-class and Samarth-class) Coastal surveillance and patrol vessels built for the Indian Coast Guard for maritime security, search and rescue, and EEZ enforcement.
• Dredgers Cutter suction dredgers built for Dredging Corporation of India Limited (DCI) for harbour deepening and coastal infrastructure maintenance.
• Floating Border Outposts (BOP) Floating installations deployed for coastal border surveillance and maritime security monitoring.
• Offshore Oil Platforms Jackets, wellhead platform main decks, process platforms, and jack-up rigs built for offshore oil and gas exploration, including for ONGC.
• Multi-Purpose Cargo Vessels (MPV) Commercial cargo vessels designed and built for international clients, with exports to customers such as Navi Merchants Denmark.
• Ship Repair and Refit Services Repair and refit services for naval and commercial vessels conducted at the Mumbai shipyard facilities for the Indian Navy, Coast Guard, and commercial clients.
• Offshore Engineering Services Offshore construction and engineering services including wellhead platforms, jackets, pipeline replacement projects for ONGC, and infrastructure development for the oil and gas sector.

Quantifiable outcome

• Built 806 vessels since 1960 including 31 warships and 8 submarines
• +5 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• ThyssenKrupp Marine Systems (TKMS)coreTechnology or Integration · 1 January 2026Partnership for Project 75I to build six advanced conventional submarines with Air-Independent Propulsion (AIP) technology. Deal estimated at approximately €8 billion with complete technology transfer to MDL in Mumbai. Indigenous content expected to rise from 45% to 60% across the program. First submarine expected around 2032-33.
• Indonesia (Submarine Cooperation)minorStrategic or Co-development Partner · 1 January 2026India and Indonesia exploring closer defense cooperation with submarine building and joint training. India has accumulated a decade of submarine-building experience through MDL constructing six Scorpene submarines. Indonesia is building its first Scorpene submarine in Surabaya, with potential for joint cooperation.
• Colombo Dockyard PLCcoreStrategic or Co-development Partner · 1 January 2025MDL acquired 51% controlling stake in Colombo Dockyard PLC for approximately Rs 236.95 crore. This strategic investment expands MDL's overseas manufacturing presence in the Indian Ocean region and unlocks growth opportunities in shipbuilding, ship repair, and heavy engineering, with partnerships planned with Dredging Corporation of India and Shipping Corporation of India.
• IIT MadrasminorStrategic or Co-development Partner · 1 January 2025MDL provided Rs 4.5 crore CSR funding for Circulating Water Tunnel Facility at IIT Madras Discovery campus. The facility supports research in ship design, ocean engineering, hydrodynamic testing, and naval technologies. Collaboration extends to HYDRA Centre with 500-metre towing tank.
• Garden Reach Shipbuilders & Engineers (GRSE)coreStrategic or Co-development PartnerJoint construction of Project 17A frigates - GRSE and MDL shared the construction of seven Nilgiri-class frigates. Also partnering for Project 17B frigates where MDL will build three frigates and GRSE three frigates to share industrial workload.
• Rolls-RoycecoreTechnology or IntegrationRolls-Royce supplied four mtu 12V 396 TE54 generator sets (1 MW each) for INS Mahendragiri, the sixth Nilgiri-class stealth frigate. Over 1,400 Rolls-Royce engines power platforms across Indian Navy, Air Force, Coast Guard and Army.
• Indian Navy Warship Design BureaucoreStrategic or Co-development PartnerAll MDL warships are designed by the Indian Navy's Warship Design Bureau. MDL constructs vessels based on Navy specifications with oversight from Warship Overseeing Team. This collaboration has produced advanced platforms including Nilgiri-class frigates and Visakhapatnam-class destroyers.
• Navi Merchants DenmarkminorStrategic or Co-development PartnerContract to design, build, and deliver six Multi-Purpose Vessels (MPVs) for Navi Merchants Denmark. Keel laying ceremony for first vessel held at MDL. This represents MDL's entry into European commercial shipping market.
• Hindustan Shipyard Limited (HSL)minorStrategic or Co-development PartnerMDL and HSL collaborating on submarine construction. HSL signed MoU with GRSE to jointly pursue national shipbuilding programme. MDL expanding from submarine construction into lifecycle support.
• German Defense Firms (Technology Transfer)coreTechnology or IntegrationIndia seeking technology transfer, co-development, and joint manufacturing with German firms including ThyssenKrupp. MDL positioned as primary beneficiary for submarine technology transfer valued at approximately Rs 5,000 crore.

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Navantia: Spanish state-owned naval shipbuilder constructing frigates, patrol vessels, and submarines primarily for the Spanish Navy and export customers. Comparable as a state-owned naval shipbuilder focused on surface combatants and submarines, though primarily serving European and Latin American markets.

Broad incumbents

• Naval Group: French naval systems prime that provided technology transfer for Scorpene-class submarines built by MDL. Comparable as a global submarine and naval shipbuilding incumbent with broader portfolio.
• Huntington Ingalls Industries: Largest US military shipbuilder constructing nuclear-powered submarines, destroyers, and amphibious ships. Comparable as a vertically integrated naval defense shipbuilding incumbent serving a sovereign customer base.
• BAE Systems (Maritime / Shipbuilding): British defense prime with significant naval shipbuilding operations including Type 26 frigates and Astute-class submarines. Comparable in advanced naval platform construction, sovereign customer base, and global export positioning.
• Fincantieri: Italian global shipbuilding group constructing cruise ships, ferries, and naval vessels including frigates and submarines. Comparable as a diversified naval and commercial shipbuilder integrated with European defense supply chains.
• ThyssenKrupp Marine Systems (TKMS): German submarine and naval systems prime serving as MDL's technology partner for Project 75I. Comparable as a global naval shipbuilding incumbent with submarine domain expertise and broader international portfolio.
• General Dynamics (Bath Iron Works / NASSCO): Diversified US defense prime whose Bath Iron Works subsidiary builds surface combatants including destroyers. Comparable in warship construction scale, sovereign customer concentration, and integrated combat systems delivery.

Direct peers

• Cochin Shipyard Limited: Indian PSU shipbuilder focused on commercial vessels, naval platforms, and offshore structures. Comparable to MDL in serving India's defense and commercial shipbuilding markets with overlapping product portfolio and PSU status.
• Garden Reach Shipbuilders & Engineers (GRSE): Indian defense PSU shipbuilder that shares construction of Project 17A and Project 17B frigates with MDL and builds a wide range of warships and patrol vessels for the Indian Navy and Coast Guard. Directly comparable by product, customer base, and government ownership structure.
• Hindustan Shipyard Limited (HSL): Indian PSU shipyard collaborating with MDL on submarine construction and other naval programs. Comparable in defense shipbuilding focus, government ownership, and Indian Ocean operational footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/MazagonDockLtd
• Facebookfacebook.com/MDLMumbai

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mazagon Dock Shipbuilders