1:2 Stock Split & Rs 39,872 Crore Order Book: Debt-Free Defence Shipbuilding Stock - Mazdock 10K Challenge 2024 - Second Edition & Celebrates 250 Years of Excellence
The stock gave multibagger returns of 160 per cent in just 1 year and a whopping 1,900 per cent in 3 years.
On Tuesday, shares of Mazagon Dock Shipbuilders Limited (MDL) gained 3 per cent to Rs 5,184.80 per share from its previous closing of Rs 5,033.85 per share. The stock’s 52-week high of Rs 5,859.95 while its 52-week low is Rs 1,797.10. The shares of the company saw a spurt in volume by more than 1.50 times on BSE.
Mazagon Dock Shipbuilders Ltd. (MDL) celebrated its 250th anniversary with the second annual Mazdock Mumbai 10K Challenge on Sunday, December 15, 2024. The event brought together a diverse group of participants, energizing the city and highlighting MDL's deep-rooted legacy in maritime and shipbuilding. This milestone not only celebrated 250 years of excellence in shipbuilding but also underscored the company's ongoing commitment to innovation, quality, and national development. The event served as a powerful reminder of MDL's significant contributions to the nation.
The race was flagged off at Azad Maidan by prominent sports figures including Ms. Monalisa Baruah Mehta, Ms. Diana Edulji, Ms. Lalita Babar, and Mr. Aman Chaudhary. Key MDL figures such as Mr. Sanjeev Singhal (CMD), Mr. Biju George (Director, Shipbuilding), Cdr. Vasudev Puranik (IN Retd.), and Mr. Hari Narayan Jangid (CVO) were also present. Mr. Singhal emphasized the event’s significance in celebrating MDL’s 250-year journey and its achievement as the first shipyard to attain Navratna status. He further stated that the marathon aimed to promote health and fitness while raising awareness of MDL's contributions to nation-building.
The Mazdock Marathon saw a remarkable turnout of over 6,000 participants competing in the 10K Challenge and the 3K Fun Run. MDL demonstrated its commitment to promoting fitness by offering substantial prize money totalling Rs 5.5 lakh for top finishers in the 10K category across six age groups for both male and female participants. Additionally, a special category with separate awards was created for MDL employees to encourage participation and foster team spirit within the organization. This comprehensive approach underscored MDL’s dedication to both public health and internal camaraderie.
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About Mazagon Dock Shipbuilders Limited (MDL)
Mazagon Dock Shipbuilders Limited (MDL), a renowned Indian shipyard established in 1774, has a rich history of building a wide range of vessels, including warships, submarines, cargo/passenger ships, and offshore platforms. Having constructed over 800 vessels since 1960, MDL has consistently demonstrated its shipbuilding prowess. In recognition of its significant contributions to India's Defence industry, MDL was conferred the prestigious 'Navratna' status in June 2024, joining the ranks of India's top-performing public sector enterprises. This elevation is a testament to MDL's strong financial performance, consistent track record, and commitment to strengthening India's defence capabilities.
According to its Quarterly Results, the net sales increased by 51 per cent to Rs 2,756.8 crore and net profit increased by 82 per cent to Rs 552.8 crore in Q2FY25 compared to Q2FY24. Looking at its half-yearly results, the net sales increased by 28 per cent to Rs 5,113.9 crore and net profit increased by 106 per cent to Rs 1,218.7 crore in H1FY25 compared toH1FY24 In its annual results, the net sales increased by 24 per cent to Rs 10,568.05 crore and net profit increased by 73 per cent to Rs 1,936.97 crore in FY24 compared to FY23. As of September 30, 2024, the company is debt-free.
The Board announced a stock split in the ratio of 1:2 i.e., the existing 1 equity share of the face value of Rs 10 each fully paid up shall be sub-divided/ stock split into 2 equity shares of the face value of Rs 5 each fully paid up. The Board fixed the record date for the stock split as Friday, December 27, 2024.
As of September 30, 2024, the company’s order book stands at Rs 39,872 crore and as of September 2024, DIIs have increased their stakes to 1 per cent compared to 0.83 per cent in June 2024. The company has a market cap of over Rs 9-,000 crore. The stock gave multibagger returns of 160 per cent in just 1 year and a whopping 1,900 per cent in 3 years. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.