MAZDOCK · Mazagon Dock Shipbuilders Ltd · Water Transportation
MAZDOCK · Mazagon Dock Shipbuilders Ltd · Water Transportation
As of 05 Nov close
52-week range
35.4% below 52-week high
52-week range: as of 05 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old
Revenue (latest Q)
₹2,943 Cr
Revenue YoY
PAT YoY
+21.5%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
9.7
P/S (TTM)
7.1
Sector P/E
54.8
Dividend yield
+0.8%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| MAZDOCK (this stock) | 37.6 | 9.7 | +20.1% | +27.5% | 0.05 | +0.8% |
| Cochin Shipyard | 58.3 | 5.9 | +13.5% | +11.6% | 0.28 | +0.7% |
| Great Eastern Shipping Company | 7.7 | 1.1 | +54.4% | +18.9% | 3.71 | +2.6% |
| Shipping Corporation of India | 9.7 | 1.4 | +23.4% | +15.5% | 22.01 | +2.9% |
Promoter
stable
FII
stable
MF
1.41% (-0.11pp)
falling 3q
Insider trades
No insider trades in the last 12 months.
Bulk/block deals
No bulk/block deals in the last 12 months.
News timeline
- lowbusiness-standard.com· 26 Oct 2026, 10:16 amQ2 results: Paytm, REC, Tata Consumer Products among 98 firms on October 26
- lowthehindubusinessline.com· 25 Oct 2026, 09:31 amIndian Navy’s enhances its underwater capabilities phase 2 of indigenous air-independent propulsion (AIP) system
- loweconomictimes.indiatimes.com· 24 Oct 2026, 09:43 pmNavy's underwater capabilities set for push after indigenous AIP system achieves crucial milestone
- mediummacroeconomictimes.indiatimes.com· 22 Oct 2026, 09:33 pmAhead of Market: 10 things that will decide stock market action on Friday
- lowbusiness-standard.com· 10 Oct 2026, 04:20 amForeign partnerships
- unknowneconomictimes.indiatimes.com· 01 Sept 2026, 08:33 pmWe must resolve to transform all defence PSUs into global giants: Rajnath Singh
Concalls & investor presentations
AI-generatedKey takeaway: The investor presentation for Mazagon Dock Shipbuilders Limited (MAZDOCK) outlines the company's historical achievements, current operations, and strategic initiatives. The company, a government-owned entity, is India's only public sector shipyard capable of building destroyers and conventional submarines. It has delivered 809 vessels, including 34 warships and 8 submarines, since 1960. Key highlights include the acquisition of a 51% stake in Colombo Dockyard PLC and a 47.21% associate stake in Goa Shipyard Ltd. The company has also expanded its capabilities into oil and gas sectors with orders from ONGC. Financially, the company has shown strong growth, with revenue increasing from ₹57,333 million in FY22 to ₹1,30,063 million in FY26, and net profit rising from ₹6,108 million to ₹25,784 million. The presentation also details the company's modernization efforts, including infrastructure upgrades and a focus on indigenization, with indigenous content increasing from 42% to 75% in warship construction. Strategic initiatives include diversification into exports, ship repair, and new shipyard developments. The company has received several awards, including the PSE Technology & Innovation Awards 2026 and the Dun & Bradstreet Public Sector Excellence Award 2024. The presentation includes forward-looking statements regarding future bids and strategic partnerships, though these are noted as projections and not guarantees. The company's stock has experienced significant growth, with a 78.05% CAGR since its listing in 2020.
The presentation emphasizes the company's achievements, growth, and strategic initiatives, highlighting positive financial performance and awards.
Sourced from an exchange-filed presentation, dated 23 Sept 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: Mazagon Dock Shipbuilders Limited (MDL) provided an overview of its performance for the quarter and year ended March 31, 2026, in its investor presentation. The document highlighted significant achievements, including the delivery of multiple ships and submarines, with all four destroyers delivered ahead of schedule. MDL reported consistent profitability over the past 20 years, zero debt, and a healthy order book. Financial highlights included a revenue from operations of ₹12,839.64 crore for FY 2025-26, an increase from ₹11,431.88 crore in FY 2024-25. The presentation also detailed the company's commitment to indigenization and sustainability, including the construction of a methanol dual fuel vessel. MDL's shareholding pattern showed 81.22% held by promoters. The document concluded with a summary of corporate social responsibility expenditures and various awards received by the company.
The presentation emphasized achievements and growth in various aspects of the company's operations.
Sourced from an exchange-filed presentation, dated 30 Apr 2026. Summary is RedixFi-generated and distinct from investment advice.
Key takeaway: Mazagon Dock Shipbuilders Limited (MDL) provided an investor presentation detailing its achievements and financial performance for Q3 FY 2025-26. The presentation highlighted the delivery of various naval vessels, including four destroyers and six submarines, with all deliveries ahead of schedule. MDL reported consistent profitability over the past 20 years, zero debt, and a healthy order book valued at ₹23,758 crore. The company declared dividends for FY 2025-26, totaling ₹544.56 crore. MDL also emphasized its strategic partnerships, including a MoU with Naval Group, France, and a teaming agreement with Swan Defence for defense shipbuilding. The presentation noted MDL's commitment to indigenization and its role in supporting the Indian Navy's capabilities. Additionally, MDL hosted community events to promote economic empowerment and was recognized for its healthcare initiatives.
The presentation emphasized achievements and growth in various operational and financial metrics.
Sourced from an exchange-filed presentation, dated 10 Mar 2026. Summary is RedixFi-generated and distinct from investment advice.
AI Summary of Annual Report
AI-generatedMazagon Dock Shipbuilders Limited (MAZDOCK) reported significant financial challenges in FY2025-26, including a provision for expected loss on onerous contracts of ₹1,05,959 Lakhs and a reversal of liquidated damages of ₹26,247 Lakhs. The company acquired a 51% stake in Colombo Dockyard PLC, making it a subsidiary, and has three step-down subsidiaries. The financial statements highlight issues with balances outstanding in sundry creditors and advances to vendors requiring confirmation. The company emphasizes compliance with statutory requirements and has a robust internal financial control system, though material uncertainties related to going concern are not explicitly addressed.
- Provision for expected loss on onerous contracts amounted to ₹1,05,959 Lakhs.
- Reversal of liquidated damages of ₹26,247 Lakhs.
- Acquisition of Colombo Dockyard PLC as a subsidiary with three step-down subsidiaries.
- Balances in sundry creditors and advances to vendors require confirmation and reconciliation.
Key takeaway: MAZDOCK faces significant financial risks due to provisions for onerous contracts and reversals, alongside ongoing compliance and reconciliation challenges.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
Auditor Qualification (1 item); Regulatory Action (3 items); Default / Covenant Breach (1 item)
Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.
Auditor Qualification
1 occurrenceEarlier (1-3 years ago)
The auditor highlighted that registration formalities and renewals for leased hold properties are pending, and balances of advances to vendors, sundry creditors, and the Indian Navy are subject to confirmation. Additionally, liquidated damages of ₹91,552 Lakhs were reduced from contract revenue.
Regulatory Action
3 occurrencesRecent (last 12 months)
The company received notices from NSE and BSE imposing fines for not maintaining the requisite number of Board members as required under Regulation 17(1) of SEBI (LODR) Regulations, 2015.
Earlier (1-3 years ago)
The company has received notices from stock exchanges regarding non-compliance with Board composition regulations (Regulation 17(1)) due to lack of Independent Directors as of 24.12.2024, and is seeking a waiver of fines while awaiting compliance from the Ministry of Defence.
The company was fined ₹43,18,800 by NSE and BSE during FY 2023-24 for non-compliance with Regulation 17 of SEBI (LODR), 2015. The non-compliance was due to the unavailability of sufficient independent directors as the company is a Government Company with director appointments controlled by the Government/Administrative Ministry.
Default / Covenant Breach
1 occurrenceEarlier (1-3 years ago)
The company has outstanding tax dues under dispute with various authorities, including amounts totaling 99,618.19 lakhs under the BST Act, 1959 and 16,125.31 lakhs under the MVAT Act, 2002, with disputes pending in tribunals and appellate bodies.
Routine disclosures
Contingent Liability
3 occurrencesRecent (last 12 months)
The company has a contingent liability of ₹ 1,05,959 Lakhs recognized for expected loss on onerous contracts under Ind AS 115 and Ind AS 37.
Earlier (1-3 years ago)
Mazagon Dock Shipbuilders Limited has recognized a provision for expected loss on onerous fixed-price contracts, as per Ind AS 37, with a material impact on financial statements.
Mazagon Dock Shipbuilders Limited has a contingent liability of ₹ 102.24 cr related to potential liquidated damages on contracts under execution, as customers have the right to levy LD, though the company is confident it will be waived.
Related-Party Transaction
1 occurrenceEarlier (1-3 years ago)
Mazagon Dock Shipbuilders Limited has provided details on related party transactions (RPTs) in the financial statements, including purchases, sales, loans, and investments with related parties, as referenced in Notes 44 and 42 of the financial statements for FY 2023-24 and FY 2022-23.
Statutory dues in dispute
2 occurrencesRecent (last 12 months)
Mazagon Dock Shipbuilders Limited has outstanding dues for goods and services tax, provident fund, income-tax, and other statutory dues, with amounts ranging from ₹2.32 lakhs to ₹16,138.12 lakhs, pending in various forums including tribunals and appeals.
Earlier (1-3 years ago)
The company has pending disputes and unpaid dues under various statutes, including Excise Duty, Sales Tax, Value Added Tax, and Service Tax, with amounts ranging from 16,125.31 to 99,620.15 lakhs, and these disputes are pending before various tribunals and courts.