Multibagger ships and submarines manufacturer shares gain 3 percent after it bags an order from the Acquisition wing of Ministry of Defence for a consideration of 310 crores.
At 11:37 a.m the shares of Mazagon Dock Shipbuilders were trading at Rs. 2,188.75 up 1.6 percent from its previous day close price and the market capitalization of the company is Rs 43,825 Cr.
As per the company’s filing, Mazagon Dock Shipbuilders Limited have signed an agreement with the Acquisition wing of Ministry of Defence for the Construction and Delivery of One Training Ship for Indian Coast Guard for a consideration of 310 Crores.
It has delivered multibagger returns of 248 percent in a year and 200 percent in the last six months. A shareholders investment of Rs. 1 Lakh in the company would be worth Rs. 3.48 Lakh in a year.
The company’s revenue grew 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 has reported a return on equity (ROE) of 24.28 percent and 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 0.38 percent and the Foreign Institutional Investors (FII) hold 3.69 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 K.S
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