Highest Dividend In Q2: Multibagger PSU Defence Stock Can Rally 16.41%, Buy?

Shares of Mazagon Dock Shipbuilders gained over 6% in trade today after change in management took place on February 23, 2024. Last trading price of Mazagon Dock Shipbuilders shares on BSE is Rs 2169.05 apiece with intraday gain of 3.67%. Mazagon Dock Shipbuilders shares offered investors return of 201% in last 1-year and zoomed over 800% in last 2-years. Meanwhile, brokerage firm HDFC Securities assigned buy call to Mazagon Dock Shipbuilders stock with target price of Rs 2525 apiece. If you buy Mazagon Dock Shipbuilders shares at current market price of Rs 2169.05 apiece, you can fetch potential gain of 16.41%. Check details below:

Mazagon Dock Shipbuilders Announces Change In Management: As per the BSE filing dated February 23, 2024, "This is to inform that, Shri. Chandu Sambasiva Rao has been appointed as a Part-Time Non-Official (Independent) Director on the Board of the Company w.e.f. February 22, 2024."

Mazagon Dock Shares Performance & Return: The 52-week high price of Mazagon Dock shares on BSE is Rs 2490.00 per share and 52-week low price is Rs 612.80 per share, respectively. The company has a market capitalisation of Rs 43,847.41 crore. Mazagon Dock shares rallied over 4% in past 1-week, declined 7% in last 1-month, soared over 201% in last 1-year, and zoomed nearly 917% in last 3-years.

Mazagon Dock Inks Contract With Defence Ministry: According to the BSE filing of the company dated January 24, 2024, "This is to inform that Mazagon Dock Shipbuilders Limited (MDL) has signed a contract with Acquisition wing of Ministry of Defence for Construction and Delivery of Fourteen (14) Fast Patrol 'Vessels (FPVs) for Indian Coast Guard (ICG) on 24 January, 2024." The FPVs, at a contract value of Rs 1,070.47 crore, will be created indigenously and manufactured by MDL under the 'Buy (Indian-IDDM)' category, said a Press Information Bureau release. The FPVs will be delivered to the Defence Ministry within 63 months, added the release.

Highest Interim Dividend In Q2: The PSU declared highest ever dividend in Q2. According to the BSE filing issued on November 8, 2023, "approved declaration of interim dividend @ 153% being Rs 15.34 per equity share aggregating to Rs 309.39 crore to be paid out of the profits of the company for the financial year 2023-24." The Board has declared Monday, 20 November 2023 as the record date for reckoning eligibility of shareholders for the purpose of payment of interim dividend. The interim dividend shall be paid on or before 07, December 2023.

Mazagon Dock Shipbuilders declared 7 dividends since February 22, 2021. In the past 12 months, Mazagon Dock Shipbuilders announced an equity dividend amounting to Rs 22.20 per share. It has a dividend yield of 1%.

Mazagon Dock Shipbuilders Quarterly Results: Mazagon Dock Shipbuilders Ltd on February 12, 2023 declared a surge of 77% year-on-year (YoY) in its consolidated net profit to Rs 626.8 crore for the quarter ended December 2023 as against Rs 354 crore in the corresponding quarter of the preceding fiscal. The PSU's revenue from operations for December 2023 quarter rallied 30% year-on-year (YoY) to Rs 2,362.5 crore from Rs 1,815.9 crore in the similar quarter of last year. EBITDA jumped 82% year-on-year to Rs 539 crore for the quarter under review, while margins improved to 22.8%.

Mazagon Dock About: Mazagon Dock Shipbuilders Limited is one of the leading shipbuilding yards in India. The History of Mazagon Dock dates back to 1774, when a small dry dock was constructed in Mazagon. Over the years, MDL has earned a reputation for quality work and established a tradition of skilled and resourceful service to the shipping world in general and the Indian Navy & Coast Guard. It was incorporated as a Private Limited Company in 1934. After its takeover by the Government in 1960, Mazagon Dock grew rapidly to become the premier war-shipbuilding yard in India, producing warships for the Navy and offshore structures for the Bombay High.

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