Colombo Dockyard PLC reported a loss of Rs. 428.1 million for the quarter ended March 31, 2026, narrowing from a Rs. 634.4 million loss in the corresponding period a year earlier, in its first quarterly disclosure since India’s Mazagon Dock Shipbuilders Limited completed its 51% takeover.
Quarterly revenue rose 7.6% to Rs. 7.61 billion from Rs. 7.07 billion, the company said in filings published on EconomyNext. Cost of sales climbed to Rs. 6.59 billion, leaving gross profit at Rs. 1.02 billion. Administrative expenses of Rs. 1.09 billion and net finance costs of Rs. 271.2 million pushed the quarter into the red. Loss per share narrowed to Rs. 1.32 from Rs. 2.75.
The quarter closed an extended 15-month financial period running January 1, 2025 to March 31, 2026, after the company shifted its year-end from December to March. Across the full 15 months, the group recorded a Rs. 2.91 billion loss on Rs. 36.20 billion of revenue. Ship repairs generated Rs. 17.53 billion of revenue, while shipbuilding contributed Rs. 14.04 billion. Shipbuilding posted a Rs. 5.58 billion segment profit at the gross level; ship repairs recorded a Rs. 2.49 billion loss for the period.
The reporting window also captured the structural overhaul that followed MDL’s strategic investment. MDL took control of 201.57 million shares in the company. A rights issue raised Rs. 12.93 billion, lifting stated capital to Rs. 13.65 billion from just Rs. 714.4 million at end-2024 and pushing total equity to Rs. 15.50 billion.
