Multibagger public sector undertaking which is into manufacturing and servicing of ships and submarines gains 5 percent after it signs Letter of intent with European clients
At 10:20 a.m the shares of Mazagon Dock Shipbuilders Limited were trading at Rs. 2,177 up by 5 percent from its previous day close price and the market capitalisation of the company is 43,768 Cr
As per the company’s filing, Mazagon Dock Shipbuilders have signed a Letter of Intent for the Construction of six firm and four optional units of 7500 DWT Multi-Purpose Hybrid Power Vessels, with a European client and the prices for the vessels would be determined at the time of signing of contract.
The company’s revenue increased by 36.52 percent from 5,733.28 Cr in FY22 to 7,827.18 Cr in FY23, accompanied by increasing profits of 563.11 Cr to 1,046.07 Cr.
The company reported a return on equity (ROE) of 24.28 percent and a return on capital employed (ROCE) of 32.81 percent, this indicates that the company is making good returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 84.83 percent stake, the Domestic Institutional Investors hold 0.55 percent and the Foreign Institutional Investors (FII) hold 3.29 percent.
Mazagon Dock Shipbuilders Limited is one of India’s leading defence sector undertaking shipyards operating under the aegis of the Ministry of Defence. Mazagon undertakes the construction, repair, and refurbishment of warships and submarines at its dedicated facilities in Mumbai and Nhava.
Written by Bharath KS
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