Navratna Shipbuilding Company to Announce First-Ever Stock Split and Interim Dividend on October 22; Stock Rallies Over 3 Per cent in Morning Session
The company’s shares have delivered an impressive multibagger return of over 600 per cent in just 2 years.
Mazagon Dock Shipbuilders Ltd has scheduled a Board of Directors meeting on Tuesday, 22 October 2024. The agenda includes the following key points:
- Consideration of an Interim dividend for the financial year 2024-25.
- Approval of the sub-division or stock split of the company's equity shares.
Additionally, the company has set Wednesday, 30 October 2024, as the "Record Date" for the payment of the Interim Dividend on equity shares, subject to the Board's approval.
Mazagon Dock Shipbuilders Ltd, established in 1774, is a Mid-Cap company based in Mumbai and 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, and offshore platforms.
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Purchase Order from MAHAGENCO
On October 10, Mazagon Dock Shipbuilders Ltd received a Purchase Order from Maharashtra State Power Generation Company Limited (MAHAGENCO) for the supply, installation, and commissioning of an AI-based Comprehensive Infrasecure Project at GTPS-Uran and KGSC-Pophali. The contract's total value is Rs 121,67,60,768.00 (One Hundred Twenty-One Crore Sixty-Seven Lakh Sixty Thousand Seven Hundred and Sixty-Eight Only), inclusive of all taxes and duties.
Share Performance
Currently, the shares of Mazagon Dock Shipbuilders Ltd are trading at around Rs 4365 per share on the BSE. The company’s current market capitalization stands at Rs 88,037 crore. Additionally, the shares have delivered an impressive multibagger return of over 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, compared to 8 per cent the 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.
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Disclaimer: The article is for informational purposes only and not investment advice.