New Delhi, May 13 -- Indian defence shipyard companies, including Mazagon Dock Shipbuilders, Garden Reach Shipbuilders, and Cochin Shipyards, are expected to see improvements in their fundamentals, fueled by strong orders, supportive policies, and government investment, according to domestic brokerage firm Antique Stock Broking.

In its latest "India Defence Sector" report, the brokerage highlighted the significant growth potential for Indian shipbuilding companies amid a potential surge in orders, which had remained stagnant since FY19, even though their combined revenue has increased from Rs.89 billion in FY19 to Rs.124 billion in 9MFY25.

The Defence Acquisition Council (DAC) has approved a substantial number of orders for FY22-25, wor...