Mazagon Dock shares jump 7% as PSU to consider stock split next week; check other key updates

One is the declaration of the interim dividend for the fiscal year 2024-25, and the second is the sub-division/split of equity shares.

The company further said it has fixed Wednesday, October 30, 2024, as the record date for the purpose of payment of the interim dividend, if declared by the board.

Mazagon Dock Shipbuilders shares, along with other defence companies' stocks, had a dream run over the past around 36 months, given a huge emphasis on India's defence sector (Make in India initiative) and the ‘Atmanirbhar Bharat Abhiyan’ (self-reliant India mission).

These measures cover virtually every facet of the Indian defence economy, spanning structures, acquisition processes, industrial regulations and budgetary provisions.

However, after rising exponentially during the said period, the stocks, of late, have corrected considerably. Mazagon Dock share price has slipped 27.6% ((as of Thursday's close)) from its record high of ₹5,859.95 touched on July 5, 2024 on the BSE.

On a year-to-date (YTD) basis, the stock is up 84%. Over the past five years, the stock has given 2,418% return.

Mazagon Dock Q1 FY25 Results

Mazagon Dock Shipbuilders reported a 121% YoY jump in its profit after tax (PAT) to ₹696 crore for the quarter ended June 2024 (Q1 FY25). The figure stood at ₹314.30 crore in the corresponding quarter of the previous fiscal.

The revenue from operations for the period came in at ₹2,357 crore against ₹2,172.76 crore in the first quarter of the previous financial year. This is an increase of 8.5% on a year-on-year basis.

Mazagon Dock Shipbuilders' current product portfolio encompasses a diverse range of products for both domestic and International clientele.

"We have built a total of 802 vessels since 1960, including 28 warships, ranging from advanced destroyers to missile boats as well as 7 submarines. For both national and global clientele, we have also provided cargo ships, passenger ships, supply vessels, multipurpose support vessels, water tankers, tugs, dredgers, fishing trawlers, barges, and border outposts. Jackets, wellhead platform main decks, process platforms, jack up rigs, and other products have also been manufactured and delivered by us," the company's website says.