The share price of one of India’s leading warship builders gained around 5 percent to an intraday high of Rs 2,144.90 per share after the company received an order worth Rs 1,600 crore to build next-generation offshore patrol vessels.
At 11:01 a.m., Mazagon Dock Shipbuilders Ltd(MDSL) shares were trading at Rs 2,112.20 per share, up percent from the previous close price on the exchange. The company has a market capitalization of Rs 42,600 crore.
According to the company’s exchange filing, Mazagon Dock Shipbuilders Limited has signed a contract with the Acquisition wing of the Ministry of Defence for the Construction and Delivery of six next-generation offshore patrol vessels (NGOPVs) for the Indian Coast Guard for a value of Rs 1,600 crore.
The company shares have delivered a multibagger return of 150 percent in a year, This shows that a shareholder investment of Rs 1 lakh in the company would be worth Rs 2.50 lakhs.
The company’s revenue has increased by 7.5 percent yearly, from Rs 1,702 crore in Q2FY23 to Rs 1,828 crore in Q2FY24. During the same timeframe, Net profit has jumped by 56 percent from Rs 200 crore to Rs 313 crore.
MDSL has undertaken a modernization program for Rs 900 crore and has increased the building capacity of warships and Submarines over the period since 2014. Additionally, The company has developed Shore Integration Facilities (SIF) for Shipbuilding and Submarine Divisions.
Recently, Mazagon Dock Shipbuilders Limited signed Shipbuilding Contracts with a European client to construct three units of 7,500 DWT Multi-Purpose Hybrid Powered Vessels on December 14, 2023, for a value. of approx. 42 million USD.
On Oct 21, 2022, MDSL collaborated with Altair, a global leader in computational science and artificial intelligence (AI), for multiple simulation areas. To strengthen the relationship between the companies and to develop its robust ship design and engineering offerings.
Mazagon Dock Shipbuilders Limited is a leading shipyard in India. It primarily manufactures for the defence sector and has built 801 vessels including 27 warships ranging from advanced destroyers to missile boats and 7 submarines.
Mazagon Dock is India’s only shipyard building company that manufacturers Destroyers and Conventional Submarines for the Indian Navy. The company has delivered cargo & passenger ships, supply vessels, water tankers, tugs, dredgers, fishing trawlers, barges & borders for various customers in India.
Written by Omkar Chitnis
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