Rs 15.34/Share Dividend In Q2: PSU Defence Stock Gains On Bagging 1070-Cr Contract

Shares of Mazagon Dock Shipbuilders witnessed a surge of nearly 4% in morning trade today on BSE after it signed a contract worth 1070-crore with the Acquisition wing of Ministry Of Defence on January 24, 2024, as per the BSE filing of the company. Current market price of Mazagon Dock shares on BSE is quoted at Rs 2386.80 apiece with intraday gain of 2.64%. Mazagon Dock shares gained 223% in last 1-year. Check details below:

Mazagon Dock Inks Contract With Defence Ministry: According to the BSE filing of the company dated January 24, 2024, "This is to inform that Mazagon Dock Shipbuilders Limited (MDL) has signed a contract with Acquisition wing of Ministry of Defence for Construction and Delivery of Fourteen (14) Fast Patrol 'Vessels (FPVs) for Indian Coast Guard (ICG) on 24 January, 2024."

The FPVs, at a contract value of Rs 1,070.47 crore, will be created indigenously and manufactured by MDL under the 'Buy (Indian-IDDM)' category, said a Press Information Bureau release. The FPVs will be delivered to the Defence Ministry within 63 months, added the release.

Mazagon Dock Shares Performance & Return: The 52-week high price of Mazagon Dock shares on BSE is Rs 2490.00 per share and 52-week low price is Rs 612.80 per share, respectively. The company has a market capitalisation of Rs 48,147.44 crore, shows BSE data. Mazagon Dock shares surged 29% in last 3-months, gained 798% in last 2-years, and offered return of 1051% in last 3-years when Sensex gained 46%.

Earlier on January 23, 2024, Mazagon Dock Shipbuilders informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/02/2024 to consider and approve Unaudited Financial Results (Standalone & Consolidated) for the Quarter ended on December 31, 2023.

Mazagon Dock Shipbuilders Declared Highest Interim Dividend In Q2: 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.

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