626 per cent return: Multibagger ship building PSU reports stellar Q1 performance; do you own it?

The President of India holds 84.83 per cent stake in the company.

Friday deals concluded on negative end, as both the Sensex and Nifty wrapped up the day with losses of 0.56 per cent and 0.59 per cent, respectively.

Mazagon Dock Shipbuilders Limited a PSU, primarily constructs and maintains ships, submarines, and diverse vessels, serving global and domestic clients. Founded in 1934 as a private entity, it was acquired by the Indian government in 1960.

On August 10, 2023, the company announced its Q1FY24 performance:

In the same quarter of the previous year, Mazagon Dock Shipbuilders announced a net profit of Rs 224.8 crore. The company's total revenue for the reviewed period was Rs 2,172.8 crore, reflecting a 2.6 per cent decrease compared to Rs 2,230 crore in the corresponding period of the previous fiscal year.

At the operational level, EBITDA for the first quarter of this fiscal year saw a 1.2 per cent decline to Rs 171.8 crore from Rs 173.9 crore in the same period of the preceding fiscal year. The EBITDA margin for the reporting quarter was 7.9 per cent, a slight increase from 7.8 per cent in the corresponding period of the previous fiscal year.

The majority ownership of Mazagon Dock Shipbuilders Ltd is held by the President of India, possessing an 84.83 per cent stake in the company.

The stock has witnessed significant buying activity surging more than 626 per cent in the last 3 years. 

The majority ownership of the company is held by the President of India, possessing an 84.83 per cent stake in the company.

In dampen market sentiments, the shares of Mazagon Dock Shipbuilders plunged 2.98 per cent. The company's current market capitalisation is Rs 35,098.09 crore. 

Keep a close eye on this trending stock.

Disclaimer: The article is for informational purposes only and not investment advice.