Mazagon Dock Shipbuilders fixes December 27 as record date for 1:2 stock split; shares in focus

On October 22, Mazagon Dock Shipbuilders Ltd. (MDL) announced that its board of directors had approved splitting the company’s stock in two. Additionally, the board approved an interim dividend of ₹23.19 per share.

While the company has issued dividends in the past, this is the first time that it is participating in a stock split.

1:2 share split

The company’s board “approved the sub-division or split of existing 1 (one) equity share of the face value of ₹10/- (Rupees ten only) each, fully paid up into 2 (two) equity shares of the face value of ₹ 5/- (Rupees five only) each, fully paid up, subject to shareholders' approval.”

MDL had stated in a regulatory filing that the record date for the split would be decided after obtaining approval from shareholders through the process of postal ballot electronic voting and will be intimated in due time.

Mazagon Dock Shipbuilders Q2 FY25

The PSU reported a 75.7% year-on-year (YoY) increase in its consolidated net profit at ₹585.08 crore for the quarter ended September 30, 2024 (Q2 FY25).

The company reported a profit of ₹332.88 crore in the year-ago period. 

Revenue from operations came in at ₹2,756.83 crore, up 50.8% against ₹1,827.70 crore logged in the year-ago period. 

Basic and diluted earnings per share (EPS) stood at ₹29.01 against ₹16.50 in the September 2023 quarter. 

Total income of the company increased by 44.8% to ₹3,011.11 crore from ₹2,079.18 crore registered in the corresponding quarter of the previous fiscal.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the quarter under review increased to ₹510 crore from ₹176 crore registered in the year-ago quarter.