Rs 41,479 crore order book: This multibagger shipbuilding company receives contract worth Rs 2,724.63 crore from Indian Navy!
The stock gave multibagger returns of 440 per cent in just 1 year whereas BSE Sensex Index is up by 23.20 per cent.
Mazagon Dock Shipbuilders Ltd informed that the company signed a Contract with Indian Navy for Medium Refit cum Life Certification (MRLC) of the second Shishumar class submarine INS SHANKUSH. The value of the order is Rs 2724.63 crore.
On Monday, one of the Top Gainers on BSE, shares of Mazagon Dock Shipbuilders Ltd surged 7.56 per cent to an intraday high of Rs 1,341 from its previous closing of Rs 1,246.85. The stock also traded at a new 52-week high of Rs 1,341 per share.
According to the Quarterly Results, the net sales increased by 48.85 per cent to Rs 2,079 crore and net profit skyrocketed by 104.80 per cent to Rs 318 crore in Q4FY23 compared to Q4FY22.
According to the annual results, the net sales increased by 36.52 per cent to Rs 7,827 crore and net profit increased by 85.77 per cent to Rs 1,073 crore in FY23 compared to FY22. The company has an order book of Rs 38,755 crore as of March 31, 2023. Including the above order, the company’s order book stands at Rs 41,479.63 crore.
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Mazagon Dock Shipbuilders Ltd is primarily engaged in building & repairing ships, submarines and various types of vessels and related engineering products for various domestic and international clients. It was incorporated as a private limited company in 1934 and was taken over by the Government of India in 1960.
The shares of the company saw a spurt in volume by more than 1.50 times on BSE. The stock gave multibagger returns of 440 per cent in just 1 year whereas BSE Sensex Index is up by 23.20 per cent. Investors must keep an eye on this stock.