Rs 38,389 crore order book & DIIs increase stake: Defence Secretary - Shri. Giridhar Aramane visits this multibagger shipbuilding company; details inside!
The stock gave multibagger returns of 220 per cent in just 1 year and a whopping 1,000 per cent in 3 years.
Mazagon Dock Shipbuilders Limited (MDL) celebrates the completion of 250 years, commemorating an extraordinary journey, spanning over two and a half centuries. From a humble beginning as a small dry dock in 1774 to its incorporation in 1934, and subsequently, its stewardship under the Government of India since 1960, the completion of 250 years of MDL is a milestone that marks a testament of resilience, growth and enduring legacy.
To mark this occasion of immense significance, MDL today organized a series of events including the inauguration of adjacent land acquired from MPA, the launch of a prototype of the indigenous midget submarine ‘Arowana’, the commissioning of the solar electric hybrid boat, the release of MDL’s Commemorative Coin marks the 250 years and conducting a daylong technical seminar.
Shri. Giridhar Aramane, IAS, Defence Secretary was the chief guest on the occasion. The Defence Secretary formally inaugurated the Contiguous piece of land acquired from the Mumbai Port Authority. This facility would be developed for simultaneous construction & outfitting of new builds and repairs/refits of various types of vessels. The new infrastructure will give adequate bandwidth to MDL for the simultaneous execution of various projects.
MDL has completed the platform design and hull of the midget submarine named ‘Arowana’ which was launched by the Defence Secretary. MDL has been building submarines since 1984 with foreign design. MDL has also commenced the design and development of an indigenous conventional submarine. Midget Submarine is being developed as a proof of concept. The team is parallelly working on the development of the design of a full-scale conventional submarine by 2028.
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The Defence secretary also commissioned the Solar Electric Hybrid boat with a top speed of 11 Knots designed and co-developed with an indigenous technology partner. The running cost is almost 1/10th of a diesel boat and also has a very low maintenance cost.
In addition, a 24 pax Fuel Cell Electric Ferry named “SUCHI”, conceptualized by MDL & co-developed with an indigenous technology partner, was also commissioned by the Defence Secretary. Its advanced technology has zero emissions and low acoustic signatures, leading to cleaner waterways and contributing to environmental conservation.
Shri. Aramane also inaugurated the Technical Seminar on “Emerging Technologies and Future of Shipbuilding”. To commemorate 250 years of MDL’s existence, the Defence Secretary also released a coin, issued by RBI, crafted to honour the rich history & enriching legacy of MDL. While congratulating MDL in his address Defence Secretary stated that MDL is a precious jewel in the crown of India and has contributed immensely to building capacities for naval and commercial purposes. He further added that MDL is the biggest shipyard in the country contributing most to the assets of the Indian Navy.
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 47,000 crore. The stock gave multibagger returns of 220 per cent in just 1 year and a whopping 1,000 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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