Synopsis:
Mazagon Dock Shipbuilders Limited signed an MoU with the Government of Tamil Nadu to explore developing a world-class greenfield shipyard on India’s eastern coast under the Maritime Amrit Kaal Vision 2047.
During Wednesday’s trading session, shares of a key supplier of warships, missile boats and submarines to the Indian Navy and Indian Coast Guard surged nearly 2 percent on BSE, after signing an MoU with the Government of Tamil Nadu to develop a world-class Greenfield Shipyard on the Eastern Coast.
At 10:26 a.m., the shares of Mazagon Dock Shipbuilders Limited were trading in the green at Rs. 2,961.75 on BSE, up by around 1 percent, as against its previous closing price of Rs. 2,939.9, with a market cap of Rs. 1.19 lakh crores. The stock has delivered positive returns of over 40 percent in one year, and has gained by around 8 percent in the last one month.
What’s the News
According to a press release by the Press Information Bureau (PIB), under the framework of the Government of India’s Maritime Amrit Kaal Vision 2047, Mazagon Dock Shipbuilders Limited, a Defence PSU under the Ministry of Defence, has signed a Memorandum of Understanding (MoU) with Guidance Tamil Nadu, the state’s nodal agency for investment promotion and facilitation, on 19th September 2025.
The agreement aims to explore the development of a world-class greenfield shipyard on India’s eastern coast. The MoU was formally signed and exchanged between Shri Biju George, Director (Shipbuilding), MDL, and Dr Darez Ahamed, IAS, Managing Director & CEO of Guidance Tamil Nadu, at a ceremony hosted by the Ministry of Ports, Shipping and Waterways (MoPSW) in Gujarat.
Financials & More
Mazagon Dock reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 11 percent, from Rs. 2,357 crores in Q1 FY25 to Rs. 2,626 crores in Q1 FY26. In contrast, the company’s net profit decreased during the same period from Rs. 696 crores to Rs. 452 crores, representing a fall of nearly 35 percent YoY.
As of March 2025, Mazagon Dock holds a total order book valued at Rs. 32,260 crores. A significant portion of the order book – around Rs. 20,000 crore – comprises high-margin, fixed-price contracts. These include key projects such as the 15 Bravo, 17 Alpha, and the P-75 Kalvari-class submarines. While the remaining orders are also under fixed cost, they are associated with comparatively lower margins.
Mazagon Dock Shipbuilders Limited is principally engaged in the business of building and repairing ships, submarines, various types of vessels and related engineering products for its customers.
Its diverse product portfolio includes naval ships, submarines, littoral combat ships, naval auxiliary vessels, tugs, barges, dredgers, support vessels, ferries, cargo ships, fuel cell electric vessels, air boats, solar electric hybrid boats, lithium-ion batteries, and AUV swarm drones. Beyond manufacturing, the company also offers services such as warship and submarine repair and refit, ship designing, tug support, supply chain management, and the use of self-propelled modular transporters (SPMTs).
Written by Shivani Singh
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