During Tuesday’s trading session, the shares of India’s premier Warship and Submarine builders surged nearly 7.4 percent to Rs. 4,325.9 on BSE, after the company reported Q2 FY25 results with a rise in net profit by 76 percent YoY.
With a market cap of Rs. 86,920.3 crores, at 01:59 p.m., the shares of Mazagon Dock Shipbuilders Limited were trading in the green at Rs. 4,288, up by nearly 6.5 percent, compared to its previous closing price of Rs. 4,026.95.
What’s the news:
The fluctuations in the share prices were observed after Mazagon Dock Shipbuilders Limited announced the financial results for Q2 FY25, through the latest filings with the stock exchanges on Tuesday during market hours.
For Q2 FY25, Mazagon Dock reported consolidated revenue from operations of Rs. 2,756.8 crores, reflecting a significant growth of around 17 percent QoQ from Rs. 2,357 crores in Q1 FY25, as well as an increase of about 51 percent YoY from Rs. 1,827.7 crores in Q2 FY24.
The company’s net profit for Q2 FY25 grew to Rs. 585 crores, representing a decline of around 16 percent QoQ from Rs. 696 crores in Q1 FY25, but a year-on-year growth of nearly 76 percent from Rs. 332.8 crores in Q2 FY24.
Previous Orders & News:
On 9th August, Mazagon Dock received an order worth around Rs. 4,676.3 crores from Oil and Natural Gas Corporation Limited (ONGC) for the fabrication and installation of Wellhead Platforms and Associated Pipeline Project on an EPC reimbursable basis (OBE).
On 10th October, the company secured a purchase order from Maharashtra State Power Generation Company Limited (MAHAGENCO) for the supply, installation and commissioning of AI-based Comprehensive Infrasecure Items at GTPS-Uran and KGSC-Pophali at a total price of nearly Rs. 121.67 crores.
On 22nd October, the Board of Mazagon Dock approved a stock split in the ratio of 1:2, meaning that every 1 existing equity share of the company having a face value of Rs. 10 each will be divided into 2 equity shares having a face value of Rs. 5 each.
Stock Performance:
The stock has delivered multibagger returns of nearly 121 percent in one year, and around 90.2 percent of positive returns in the last six months. So far in 2024, the shares of Mazagon Dock have given positive returns of about 88 percent.
About the company:
Mazagon Dock Shipbuilders Limited provides a wide range of services including shipbuilding, ship repairs and ship refits to both government and private institutions. It is a key supplier of warships, missile boats and submarines to the Indian Navy and Indian Coast Guard.
Written by Shivani Singh
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