Navratna Shipbuilding Company Announced First-Ever 2:1 Stock Split and Interim Dividend of Rs 23.19; Stock Gains 100 Per cent in Just 1 Year!
The company’s shares have delivered an impressive multibagger return of around 550 per cent in just 2 years.
The Board of Directors of this multibagger Mid-Cap shipbuilding company has announced its first-ever stock split along with an interim dividend for its shareholders.
Interim Dividend
An interim dividend of Rs 23.19 per equity share of Rs 10 each, fully paid up, for the financial year 2024-25 has been declared. As announced on October 17, 2024, the Company has set Wednesday, October 30, 2024, as the "Record Date" for the payment of the interim dividend. The payment is expected to be completed on or before November 20, 2024.
Stocks Split
The Board approved the subdivision/split of each existing equity share of face value Rs. 10 (Rupees Ten Only) into two equity shares of face value Rs. 5 (Rupees Five Only) each, fully paid up, subject to shareholder approval.
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The record date for this subdivision/split will be announced after obtaining shareholder approval via a postal ballot and electronic voting process.
Share Performance
Today, the shares of Mazagon Dock Shipbuilders Ltd have faced selling pressure which led the shares to fall over 10 per cent and finally closed at around Rs 4159.95 per share on the BSE. The company’s current market capitalization stands at Rs 83,902 crore. Additionally, the shares have delivered an impressive multibagger return of 100 per cent in the past 1 year.
Financial Performance
As per the Quarterly Results in Q1 FY25, Mazagon Dock Shipbuilders Ltd recorded a revenue of Rs 2357 crore compared to Rs 2173 crore. The operating profit stood at Rs 642 crore with a margin of 27 per cent which was earlier 8 per cent same quarter last year. The net profit stood at Rs 696 crore compared to a profit of Rs 314 crore.
According to the shareholding pattern of the company, the promoters hold a significant 84.83 per cent stake. Public investors own 12.71 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 1.45 per cent and Domestic Institutional Investors (DIIs) own 1 per cent.
Mazagon Dock Shipbuilders Ltd is a mid-cap company based in Mumbai and established in 1774, is one of India's leading shipyards. What began as a small dry dock has grown into a highly regarded shipbuilding company. Since 1960, MDL has constructed 801 vessels, including warships, submarines, cargo and passenger ships, as well as offshore platforms.
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Disclaimer: The article is for informational purposes only and not investment advice.