Defence stock engaged in the construction, repair, and refurbishment of warships, Submarines and many more jumped up to 2 percent in the day’s trade upon signing a shipbuilding contract worth Rs. 350 Crores with a European Client
With a market capitalization of Rs. 47,522 Crores, the shares of Mazagon Dock Shipbuilders Limited were trading at Rs. 2,356.80, up 0.11 percent from its previous day’s close price of Rs. 2,354.15.
Mazagon Dock Shipbuilders Limited has signed individual Shipbuilding Contracts with a European client for the Design, Build, and Delivery of three units of 7,500 DWT Multi-Purpose Hybrid Powered Vessels for a consideration of USD 42 Million or Rs. 350 Crores.
Mazagon Dock Shipbuilders Limited is a Miniratna Public sector Undertaking which is one of India’s leading defense sector companies under the aegis of the Ministry of Defence, it is engaged in the construction, repair, and refurbishment of warships and submarines at its dedicated facilities in Mumbai and Nhava.
Mazagon Dock Shipbuilders Limited is India’s only shipyard to have built Destroyers, and conventional submarines for the Indian Navy & manufacture corvettes in India. Since 1960 It has delivered more than 802 vessels of which 28 warships from advanced destroyers to missile boats and 7 submarines.
It has a strong order book worth Rs. 38,389 Crores and As of FY23, out of the revenue from operations, it generated 87.91 percent of its revenue from Ship construction, 9.85 percent from the sale of base and depot spares, and 2.22 percent from Ship repair.
Its revenue from operations grew by 30 percent from Rs. 1,816 Crores in Q3FY23 to Rs. 2,362 Crores in Q4FY24, accompanied by profits of Rs. 337 Crores to Rs. 592 Crores.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
