Sanjeev Singhal, Director (Finance) at Mazagon Dock Shipbuilders in an interview with CNBC-TV18 said that he expects the company may not be able to catch-up with last year's performance. Revenue should be 20-25 percent lower than the previous year, said Singhal.

Mazagon Dock Shipbuilders was listed just a month ago on the exchanges, and received an overwhelming response from the investors. The company reported a steady September-quarter earnings, however, the profit came in lower due to exceptional loss of Rs 26.5 crore recorded on account of lockdown.

With economic recovery expected ahead, Sanjeev Singhal believes that the company's performance will be better in Q3 and Q4 this fiscal.

"The company has participated in domestic RFPs worth Rs 23,000 crore and around Rs 3,500 crore in international market. We expect some positive responses against these RFPs,” said Singhal.

He further explained that the nature of the industry is different than others as the revenue and execution here is a bit lumpy. “As the equipment start boarding in, the revenues raise up so some kind of variation would definitely be there. We have sufficient cash for Nhava facility.” he added.

(Edited by : Mousumi)

First Published:Nov 13, 2020 1:01 PM IST