Rs 37,500 crore order book and FIIs increase stake: This multibagger shipbuilding company bags new order worth Rs 1,145.10 crore; gains over 900 per cent!

Shares of the company have gained more than 90 per cent in the last six months.

Mazagon Dock Shipbuilders Limited (MDL) has secured a major contract from Oil and Natural Gas Corporation Limited (ONGC) for the Part Replacement of Pipeline Project (PRPP). This project will involve laying approximately 44.4 kilometers of subsea pipelines in 19 segments, with a total contract value of Rs 1,145.10 crore. The project is expected to be completed by May 15, 2024.

The company posted robust Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 1827.70 crore which increased by 7.36 per cent YoY. The operating profit of the company stood at Rs 428.10 crore, while the PAT of the company stood at Rs 303.87 crore, which increased by 55.83 per cent YoY basis.

Also read, Decoding greeks in options trading: Delta, gamma and theta

Mazagon Dock Shipbuilders' business divisions in which the company operates are (i) shipbuilding and (ii) submarine and heavy engineering. Its shipbuilding division includes the building and repair of naval ships. It is currently building four P-15 B destroyers and four P-17A stealth frigates and undertaking the repair and refit of a ship for the MoD for use by the Indian Navy.

FIIs have also increased their stake in the company to 3.69 per cent in September 2023 respectively. The company has an order book of Rs 37,500 crore. The stock has also delivered multibagger returns of over 900 per cent in the last three years.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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