Rs 12.11/Share Dividend: Multibagger Defence PSU Declares 103.37% Jump In Net Profit, Buy?

Mazagon Dock Shipbuilders shares soared nearly 10% to Rs 3358.20 per share as the firm reported its net profit for the quarter ended March 31, 2024 at Rs 663 crore, up 103.37% as against Rs 326 crore declared in the corresponding quarter of last year.

The Board of Directors of Mazagon Dock Shipbuilders recommended an interim dividend of Rs 12.11 per equity share for the FY 2023-24. Mazagon Dock Shipbuilders shares offered attractive return of 40% in last 2-weeks only and soared 333% in last 1-year. More details below:

Mazagon Dock Shipbuilders Recommends Interim Dividend: As per the BSE filing of the defence PSU Pursuant to Regulation 30 read with Part A of Schedule IIT and Regulation 43 of the SEBI (LODR) Regulations, 2015 recommended final dividend of Rs. 12.11 per equity share in addition to the interim dividend of Rs. 15.34 per equity share paid earlier for FY 2023-24, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The final dividend would be paid within 30 days from the date of its declaration at the 91st AGM of the Company."

Mazagon Dock Shipbuilders Q4: It declared a revenue of Rs 3,103.6 crore as against Rs 2,078.6 crore topline announced during the corresponding period last year. The PSU's EBITDA for the quarter declared at Rs 525 crore as against Rs 211 crore during the similar quarter last year. Meanwhile, the EBITDA margin of the PSU expanded by approximately 700 basis points to 17%.

It is worth noting here shares of many leading shipping firms soared nearly 10% today amid high volume with factors including order wins and latest quarterly results.

Mazagon Dock Dividend History: Mazagon Dock Shipbuilders announced 7 dividends since February 22, 2021. In last 1-year, Mazagon Dock Shipbuilders announced an equity dividend amounting to Rs 22.20 per share. At the current share price of Rs 3358.20, Mazagon Dock Shipbuilders offers a dividend yield of 0.66%. Number of FII/FPI investors increased from 150 to 155 in March 2024 quarter. Mutual Funds have increased holdings from 0.37% to 0.48% in March 2024 quarter. Number of MF schemes increased from 15 to 17 in March 2024 quarter, according to Trendlyne.

Mazagon Dock Stock Performance & Return: The 52-week high price of Mazagon Dock Shipbuilders share on BSE is Rs 3400.35 per share (as on 29/05/2024) and 52-week low price is quoted at Rs 768.45 per share (as on 30/05/2023), respectively. Its market capitalisation is Rs 67,731.54 crore. Mazagon Dock Shipbuilders shares offered 61% return in last 3-months, rallied 67% in last 6-months, and gained 1063% in last 2-years. In last 3-years, Mazagon Dock Shipbuilders shares rallied 1481%.

Should You Buy Mazagon Dock Shipbuilders Shares? Mazagon Dock Shipbuilder emerged as the Top Edge pick of leading brokerage firm Anand Rathi. The analyst has recommended buy call with a target price of Rs 3,400. The analyst has given a time frame of 6-9 months and urged to maintain the stop loss at Rs 2,200.

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 has been picked from the brokerage report of Anand Rathi. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.