Mazagon Dock Shipbuilders Ltd (MDL) is set to deliver India's fifth scorpene class submarine by the end of this year and a sixth early next year, said Sanjeev Singhal, Director of Finance at Mazagon Dock Shipbuilders. The public sector undertaking is completing three orders from the Indian Navy, including P75 Scorpene submarine. The company was awarded this order in the year 2005.

Share Market Live

NSE

“Four submarines have already been delivered. We are expecting to deliver the fifth submarine this year by December,” Singhal told CNBC-TV18.

The company is expected to deliver the sixth submarine at the fag end of 2023 or the first quarter of 2024. The third and the last order which was awarded to MDL out of the current order book was in 2015. This is the stealth-frigate, four in numbers, P17 Alpha project.

“The last delivery of this project is expected somewhere in the middle of FY26,” Singhal added.

On revenues, MDL is expecting an up to 20 percent jump, Singhal said, “As far as FY23 is concerned, in FY21 and FY22 we had registered a revenue of Rs 5,733 crore and we expect 15-20 percent increase which is roughly around Rs 6,500-7,000 crore for FY23.”

Going forward, in FY24 he expects a revenue increase by around 20 percent.

“We are looking at a steady growth of 15-20 percent."

Also Read: Mazagon Dock recruitment 2022: Check eligibility, how to apply, key dates

On export orders, he mentioned that MDL has been exploring the export markets.

For the full interview, watch the accompanying video

Catch the latest stock market updates with CNBCTV18.com's blog