India's Mazagon Dock slips; J.P. Morgan cuts PT on delayed order

Mazagon Dock Shipbuilders

22/08/2025 05:37

** Shares of Mazagon Dock Shipbuilders MAZG.NS fall 1.3% to 2,730 rupees

** J.P. Morgan reiterates "underweight" rating; cuts PT to 2,468 rupees from 3,027 rupees, implying 10.8% downside from last close

** Says delay in large order awards poses risk to revenue prospects

** Brokerage cuts EPS estimates for fiscal 2026 through fiscal 2028 by 8%, 11%, and 12%, respectively

** Highlights weak 4QFY25 and 1QFY26 results were driven by cost overruns and provisioning for cost guard vessels

** MAZG rated "hold" by 5 analysts on average; median target price is 3,320 rupees – data compiled by LSEG

** Stock up 22.5% YTD

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))