Rs 38,389 crore order book: President of India backed debt-free multibagger shipbuilding stock gains 15 per cent; PAT zooms over 100 per cent!

The stock gave multibagger returns of 210 per cent in just 1 year and a whopping 1,280 per cent in 3 years.

On Thursday, shares of Mazagon Dock Shipbuilders Limited (MDL) gained 15 per cent and to an intraday high of Rs 3,215 per share from its previous closing of Rs 2,798.10. At the closing bell, shares of the company were trading at Rs 3,159.60 per share, up 12.92 per cent with a spurt in volume by more than 1.01 times on BSE.

According to its Quarterly Results, the net sales increased by 51 per cent to Rs 3,452.37 crore and net profit increased by 103 per cent to Rs 662.97 crore in Q4FY24 compared to Q4FY23. 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 March 31, 2024, the company is debt-free.

The company is proposing a final dividend of Rs. 12.11 per share for the financial year 2023-24 on top of the Rs. 15.34 interim dividend already paid out. This recommendation needs to be approved by the shareholders at the company's upcoming Annual General Meeting (AGM). If approved, the final dividend will be distributed within 30 days of the AGM.

Additionally, Indian shipbuilding giant, Mazagon Dock Limited, celebrated its 250th anniversary, marking a transformation from a 1774 dry dock. Now government-owned, they commemorated with new land acquisition, an Indigenous mini-sub launch, eco-friendly boat commissions, and a commemorative coin. The Defence Secretary praised MDL's 250 years of shipbuilding excellence for both the Indian Navy and commercial ventures. 

Also Read: Turnaround story in this penny stock at Rs 18.57: This IT-company bags new order worth Rs 2.54 crore from Asianet Satellite Communications Ltd

Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo/passenger ships, and offshore platforms.

As of December 31, 2023, the company’s order book stands at Rs 38,389 crore and as of March 2024, DIIs have increased their stakes to 0.66 per cent from 0.43 per cent in December 2023. The company has a market cap of over Rs 63,000 crore. The stock gave multibagger returns of 210 per cent in just 1 year and a whopping 1,280 per cent in 3 years.

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