PSU Defence Stock Bags Order Worth Rs 1145 Cr From ONGC, Soars 678% In 2-Yrs

Leading public sector undertaking Mazagon Dock Shipbuilders on December 8, 2023 informed via its BSE filing about receiving order from ONGC worth approximately Rs 1145 crore. Last trading price of Mazagon Dock share on BSE is Rs 2056.10 apiece with intraday fall of 1.08%. Mazagon Dock shares offered highly attractive returns to shareholders in last couple of years. In last 2-years, Mazagon Dock shares soared 678% and rallied 990% in last 5-years. Check details below:

Mazagon Dock Bags Order From ONGC: According to the BSE filing of the company dated December 8, 2023, "This is to inform that Oil and Natural Gas Corporation Limited (ONGC) has placed a Notification of Award of Contract on December 07, 2023 on Mazagon Dock Shipbuilders Limited for Part Replacement of Pipeline Project (PRPP) on turnkey basis at a total lump sum price of INR 11,45,10,47,012.06 (INR Eleven Hundred Forty-Five Crores Ten Lakhs Forty-Seven Thousand and Twelve and Six Paisa only) including all taxes and duties." The time period by which the order needs to executed is 15 May, 2024.

Mazagon Dock Stock Performance & Return: The stock's 52-week high price is Rs 2483.00 per share and 52-week low price is Rs 612.80 per share, respectively. The company has a market capitalisation of Rs 41,469.48 crore. Mazagon Dock shares soared 104% in last 6-months, gained 161% year-to-date, jumped 127% in last 1-year, and offered return of 678% in last 2-years.

Mazagon Dock Shipbuilders Declared Highest Interim Dividend This Year: According to the BSE filing issued on November 8, 2023, "approved declaration of interim dividend @ 153% being Rs 15.34 per equity share aggregating to Rs 309.39 crore to be paid out of the profits of the company for the financial year 2023-24." The Board has declared Monday, 20 November 2023 as the record date for reckoning eligibility of shareholders for the purpose of payment of interim dividend. The interim dividend shall be paid on or before 07, December 2023.

Mazagon Dock Shipbuilders Quarterly Results: The company for the quarter ended September 30, 2023 declared its revenue from operations at Rs 1827 crore as against Rs 1702 crore it declared in the corresponding period of last year. Mazagon Dock announced its net profit for the period at Rs 332.9 crore as against Rs 213.9 crore reported in the year ago quarter.

The company declared its EBITDA for the quarter under consideration to Rs 176.7 crore year-on-year (YoY), up 50%. EBITDA margin expanded by approximately 300 basis points to 9.7% from 6.9% in September last year.

Mazagon Dock About: Mazagon Dock Shipbuilders Limited is one of the leading shipbuilding yards in India. The History of Mazagon Dock dates back to 1774, when a small dry dock was constructed in Mazagon. Over the years, MDL has earned a reputation for quality work and established a tradition of skilled and resourceful service to the shipping world in general and the Indian Navy & Coast Guard. It was incorporated as a Private Limited Company in 1934.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.

Disclaimer:

The stock highlights new order from ONGC and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.