Rs 38,000 Crore Order Book: This Multibagger Shipping Company Bags Order Worth Rs 4,676 Crore From ONGC; Stock Gains Over 1,600 Per cent in Just 2 Years!

The company’s shares have delivered an impressive return of over 170 per cent in just 1 year.

Oil and Natural Gas Corporation Limited (ONGC) has awarded this shipbuilding company a Wellhead Platforms and Associated Pipeline Project (DSF-II) contract. The contract, awarded on an EPC reimbursable basis (OBE), is valued at Rs 4,676.33 crores (Rupees Four Thousand Six Hundred Seventy-Six Crores, Thirty-Two Lakhs, Fifty-Nine Thousand Five Hundred and Three only), inclusive of all taxes and duties (GST @12 per cent).

Mazagon Dock Shipbuilders Limited (MDL), based in Mumbai and established in 1774, is a leading shipyard in India. What began as a modest dry dock became a prominent shipbuilding company. Since 1960, MDL has built 801 vessels, including warships, submarines, cargo and passenger ships, and offshore platforms.

On Friday, shares of Mazagon Dock Shipbuilders Limited closed at around Rs 4917.25 per share. The company’s current market capitalization stands at Rs 99176 crore. Additionally, the shares have delivered a multibagger return of over 1600 per cent in the past 2 years.

As per the Quarterly Results, in Q4 FY24, Mazagon Dock Shipbuilders Limited recorded a revenue of Rs 3104 crore from Rs 2079 crore. The operating profit for Q4 FY24 stood at Rs 524 crore. The net profit for Q4 FY24 stood at Rs 663 crore compared to a profit of Rs 326 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 9467 crore in FY24. The operating profit for FY24 was Rs 1412 crore with a net profit of Rs 1937 crore compared to a net profit of Rs 1119 crore in FY23.

Investors must keep this Mid-Cap company on their radar.

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