Mazagon Dock rises on reports of P-75(I) submarine talks nod

Mazagon Dock Shipbuilders rose 2.01% to Rs 2755 after reports said the Ministry of Defence had authorised the company to start cost negotiations with Germany?s Thyssenkrupp for the Rs 70,000-crore P-75(I) submarine project.

Project-75 (India), simply referred to as the P-75(I) program, is aimed at procuring six next-generation diesel-electric attack submarines to replace the Navy's ageing Sindhughosh-class fleet.

The final contract is expected to be awarded to the Mazagon Dock-Thyssenkrupp consortium about six months after the talks conclude.

Both firms had inked an MoU in June 2023, with Thyssenkrupp handling engineering and design, and Mazagon Dock overseeing construction and delivery of six submarines for the Indian Navy.

Following the report, the BSE has sought clarification from Mazagon Dock Shipbuilders on 25 August 2025. The company?s response is still awaited.

Mazagon Dock Shipbuilders is engaged in building and repairing ships, submarines, various types of vessels, and related engineering products.

In Q1 FY26, its consolidated net profit fell 35% to Rs 452.15 crore even as revenue from operations rose 11.4% year-on-year to Rs 2,625.59 crore.

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