Miniratna PSU which engaged in the construction, repair, and refurbishment of warships and submarines jumped 4 percent in the day’s trade after it received a work order worth Rs. 1,145 Crores from Oil and Natural Gas Corporation Limited (ONGC).
At 11:48 a.m the shares of Mazagon Dock Shipbuilders Limited were trading at Rs. 2,128, up 3.35 percent from its previous day’s close price of Rs. 2,059.35 and its market capitalization is Rs. 43,015 Crores. It has delivered multi-bagger returns of 141 percent in a year and 104 percent in the last six months.
Mazagon Dock Shipbuilders Limited has received a work order worth Rs. 1,145 Crores from Oil and Natural Gas Corporation Limited (ONGC) for Part Replacement of Pipeline Project (PRPP) Laying approx. 44.4 kms of subsea pipelines in 19 segments, on a turnkey basis and the project should be executed by 15 May 2024.
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 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 802 vessels of which 28 warships from advanced destroyers to missile boats and 7 submarines.
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. It has a strong order book worth Rs. 38,755 Crores.
It has reported a return on equity (ROE) of 24.28 percent and a return on capital employed of 32.81 percent, it is making good returns on its equity and capital employed.
The company’s revenue from operations grew 36.52 percent from Rs. 5,733.28 Crores in FY22 to Rs. 7,827.18 Crores in FY23, accompanied by increasing profits of Rs. 610.84 Crores to Rs. 1,119.03 Crores.
Written by: Bharath K.S
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