Multibagger Miniratna PSU Stock Fixes Record Date For 91% Dividend, Profit Up 58% YoY

Mazagon Dock Shipbuilders Ltd, a Miniratna (Category - I) CPSE, reported its standalone Revenue from Operations in Q2 FY23 at Rs. 1,70,236 lakh, compared to Rs. 2,23,032.42 lakh in the previous quarter. The company declared an Interim Dividend of 91%, that is Rs. 9.10 per equity share, aggregating to Rs. 183.54 crore to be paid. 22nd November 2022, has been fixed as the Record Date for the dividend. The company's current market price on NSE gained to around Rs. 791.80.

The PSU stock's net profit gained by 58.41% to Rs. 213.90 crore in Q2 FY23, as against Rs. 135.03 crore in Q2 FY22. Sales surged by 8.42% to Rs. 1702.36 crore in Q2 FY23, as against Rs. 1570.11 crore in Q2 FY22.

Stock performance

In the last 1 month, the company's share price rallied by 28.36%, in the past 6 months this multibagger stock's share price gained by 200.15%. Additionally, in the last 5 years, its share price increased sharply by 371.17%. The 52-week high level of this stock is Rs. 826.45, and the 52-week low level of this stock is Rs. 225.40. The mid-cap company has a market capitalization of Rs. 15,966 crore.

Mazagon Dock Shipbuilders Limited, Mumbai, is one of the leading shipbuilding yards in India. After its takeover by the Government in 1960, Mazagon Dock grew rapidly to become the premier war-shipbuilding yard in India, producing warships for the Navy and offshore structures for the Bombay High.

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