Rs 50,000 crore order book: Defence Secretary of India, Shri Giridhar Aramane visits this multibagger shipbuilding company; scrip jumps over 5 per cent!

The stock gave multibagger returns of 250 per cent in just 6 months, 440 per cent in 1 year and over 800 per cent in 2 years.

On the occasion of ongoing celebrations of “Swachhta Hi Seva”, Defence Secretary of India, Shri Giridhar Aramane, IAS visited Mazagon Dock Shipbuilders Limited (MDL). He was taken to Dharohar - MDL’s Heritage Gallery showcasing the rich heritage of the shipyard. He was then shown around the yard facilities including Submarine workshops, a new submarine section assembly workshop and an under-construction warship & submarine.

Mr Aramane inaugurated the Security Complex of MDL. He had an interactive session with MDL executives addressing their concerns. In his address to MDL employees, the Defence Secretary highlighted the importance of cleanliness in nation-building. He stated that Swachhta is not just cleaning our surroundings, but it also focuses on being free from corruption of all kinds — moral, financial and intellectual. He further emphasized on making India self-reliant and every effort in this direction should be taken by all DPSUs. Increasing indigenous content in warship building will ultimately contribute to the progress of the country. The Defence Secretary also emphasized the role of HR and ensuring contemporary HR policies. He stressed that employees should be motivated and not just satisfied. Employees should believe that they can contribute much more.

Defence Secretary Shri Giridhar Aramane unveiled the customized corporate MDL stamps released by Indian Postal Services on the occasion of the completion of 250 years of MDL since its inception in 1774. Mr Aramane also released a booklet on various aspects of PIDPI, prepared by the Vigilance Dept of MDL for the upcoming Vigilance Awareness Week.

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. The company’s order book stands over Rs 50,000 crore as of August 31, 2023, while its market cap is Rs 45,000 crore.

Earlier, MDL that the company had signed a Master Ship Repair Agreement (MSRA) with the US Government represented by NAVSUP Fleet Logistics Center (FLC) Yokosuka. This is a Non-Financial Agreement. There are only two shipyards in the country including MDL who have signed MSRA. The agreement is expected to open up voyage repairs of US Navy Ships at MDL.

Additionally, the company marked its 250 glorious years of existence with excellence and expertise with the launch of the fourth Stealth Frigate of Project 17A ‘MAHENDRAGIRI’. With the launch of this mighty frigate, MDL continues its triumphant march towards self-reliance turning Aatmanirbhar Bharat into a reality. The overall budget for Project 17A is Rs 25,700 crore.

On Tuesday, shares of Mazagon Dock Shipbuilders Ltd surged 5.92 per cent to an intraday high of Rs 2,285 per share from its previous closing of Rs 2,157.25. At the closing bell, the shares of the company were trading at Rs 2,233.20 per share, up 3.52 per cent. On BSE, 1,54,750 quantity was traded whereas on NSE 43,77,257 quantity was traded.

 The stock gave multibagger returns of 250 per cent in just 6 months, 440 per cent in 1 year and over 800 per cent in 2 years. Investors should keep an eye on this shipbuilding stock.

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