Mazagon Dock Shipbuilders Limited (MDL), formerly known as Mazagon Dock Limited, is a prominent shipyard based in Mazagaon, Mumbai. Specializing in the construction of a wide range of vessels, MDL builds warships and submarines for the Indian Navy, as well as offshore platforms and support vessels for the oil drilling industry. The shipyard also produces tankers, cargo bulk carriers, passenger ships, and ferries. Operating as a public sector enterprise under the Ministry of Defence, the Government of India holds an 84.83% ownership stake in MDL. The shipbuilding division has successfully developed a variety of vessels, including stealth frigates, destroyers, guided-missile destroyers, corvettes, landing platform docks, missile boats, patrol boats, trailing suction hopper dredgers, cargo ships, cargo-passenger ships, platform supply vessels, Voith tugs, and BOP vessels. The submarine division is notable for constructing both conventional and stealth submarines. Additionally, MDL provides repair and refit services, ensuring the maintenance and operational efficiency of its fleet.
History of Mazagon Dock Limited
Mazagon Dock Shipbuilders Limited (MDL) holds a storied legacy rooted in the annals of maritime history, with its origins tracing back to the illustrious 18th century. Over the course of its evolution, the ownership of these venerable shipyards transitioned through various hands, including notable entities like the Peninsular and Oriental Steam Navigation Company and the British-India Steam Navigation Company. It was in 1934 that the shipyard formally emerged as a public entity under the moniker ‘Mazagon Dock Limited.’ However, the transformative milestone came in 1960 when the shipyard underwent nationalization, thereby becoming an esteemed public sector undertaking under the auspices of the Government of India. Presently, steering the helm of this esteemed institution is Vice Admiral Narayan Prasad, AVSM, NM, IN (Retd), who assumed the pivotal role of Chairman & Managing Director (CMD) on December 30, 2019, exemplifying MDL’s commitment to excellence and maritime prowess.
Mazagon Dock Shipbuilders Q4 FY24 Results
- Mazagon Dock Shipbuilders Ltd. recorded a remarkable 50% surge in revenue for the March quarter, escalating to ₹3,103.6 crore compared to ₹2,078.6 crore in the corresponding period last year.
- The company witnessed an impressive surge in net profit, which more than doubled to ₹663 crore for the quarter, marking a substantial increase from ₹326 crore reported in the year-ago quarter.
- Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) witnessed a robust surge, reaching ₹525 crore, a significant leap from the ₹211 crore recorded in the previous year’s quarter, leading to a notable expansion in the EBITDA margin by nearly 700 basis points to 17%.
- Mazagon Dock announced a final dividend of ₹12.11 per share, supplementing the interim dividend of ₹15.34 per share declared earlier in FY 2024. This final dividend awaits shareholder approval at the upcoming annual general meeting (AGM).
- The government retains a substantial 84.8% stake in the company, while retail shareholders with capital up to ₹2 lakh possess a 9.29% stake, highlighting the diverse shareholder composition.
- In response to the robust Q4 results and the dividend declaration, the market witnessed a notable uptick, with Mazagon Dock shares surging by 11% following the announcement.
Shareholding Patterns
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
| Promoters + | 84.83% | 84.83% | 84.83% | 84.83% | 84.83% |
| FIIs + | 3.29% | 3.29% | 3.69% | 3.32% | 2.38% |
| DIIs + | 0.30% | 0.56% | 0.39% | 0.43% | 0.66% |
| Public + | 11.57% | 11.31% | 11.10% | 11.42% | 12.12% |
| No. of Shareholders | 1,64,151 | 2,02,872 | 3,08,372 | 3,45,328 | 3,86,330 |
The ownership structure of Mazagon Dock Shipbuilders Limited (MDL) remained consistent among promoters but experienced fluctuations in other categories from March 2023 to March 2024. Promoters maintained an 84.83% stake throughout this duration. Foreign Institutional Investors (FIIs) saw a rise from 3.29% in March 2023 to 3.69% in September 2023, then declined to 2.38% by March 2024. Domestic Institutional Investors (DIIs) witnessed minor changes, starting at 0.30% in March 2023 and peaking at 0.66% by March 2024. Public shareholding slightly increased from 11.57% in March 2023 to 12.12% by March 2024. Furthermore, the number of shareholders surged significantly from 164,151 in March 2023 to 386,330 in March 2024, indicating growing interest among retail investors in the company.
How to Purchase Mazagon Dock Shipbuilders Limited Shares?
Below are the trading platforms that you can use to purchase Mazagon Dock Shipbuilders Limited shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
Mazagon Dock Shipbuilders Limited Share Price Prediction: 2024 to 2030
Mazagon Dock Shipbuilders Share Price Target 2024
| When | Maximum Price | Minimum Price |
| July 2024 | 5,699.80 | 4,956.35 |
| August 2024 | 5,927.80 | 5,154.61 |
| September 2024 | 6,164.91 | 5,360.79 |
| October 2024 | 6,044.03 | 5,255.68 |
| November 2024 | 6,285.79 | 5,465.90 |
| December 2024 | 6,348.65 | 5,520.56 |
In 2024, Mazagon Dock Shipbuilders’ share prices are projected to fluctuate throughout the year. By July, the maximum price is expected to be ₹5,699.80, while the minimum is anticipated to be ₹4,956.35. In August, the prices could reach a maximum of ₹5,927.80 and a minimum of ₹5,154.61. For September, the forecasted maximum is ₹6,164.91, with a minimum of ₹5,360.79. By October, the share prices might range from ₹6,044.03 to ₹5,255.68. In November, the maximum price is projected to be ₹6,285.79, and the minimum could be ₹5,465.90. Finally, in December 2024, Mazagon Dock Shipbuilders’ shares are expected to range between a maximum of ₹6,348.65 and a minimum of ₹5,520.56.
Mazagon Dock Shipbuilders Share Price Prediction 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 6,412.13 | 4,932.41 |
| February 2025 | 6,476.90 | 4,982.23 |
| March 2025 | 6,612.92 | 5,086.86 |
| April 2025 | 6,547.44 | 5,036.49 |
| May 2025 | 6,356.74 | 4,889.80 |
| June 2025 | 6,642.79 | 5,109.84 |
| July 2025 | 6,512.54 | 5,009.65 |
| August 2025 | 6,713.96 | 5,164.59 |
| September 2025 | 6,794.53 | 5,226.56 |
| October 2025 | 6,971.19 | 5,362.45 |
| November 2025 | 7,145.47 | 5,496.51 |
| December 2025 | 7,467.01 | 5,743.86 |
In 2025, Mazagon Dock Shipbuilders’ share prices are projected to show significant variation. January’s maximum price is forecasted at ₹6,412.13, with a minimum of ₹4,932.41. By December, the maximum price is expected to rise to ₹7,467.01, with a minimum of ₹5,743.86. Notable price points include July with a maximum of ₹6,512.54 and a minimum of ₹5,009.65, and November with a maximum of ₹7,145.47 and a minimum of ₹5,496.51.
Mazagon Dock Shipbuilders Share Price Target 2026
| When | Maximum Price | Minimum Price |
| January 2026 | 7,691.02 | 5,916.17 |
| February 2026 | 7,498.75 | 5,768.27 |
| March 2026 | 7,648.72 | 5,883.63 |
| April 2026 | 7,804.82 | 6,003.71 |
| May 2026 | 7,727.54 | 5,944.26 |
| June 2026 | 7,920.73 | 6,092.87 |
| July 2026 | 7,765.42 | 5,973.40 |
| August 2026 | 8,005.59 | 6,158.15 |
| September 2026 | 8,165.70 | 6,281.31 |
| October 2026 | 8,378.01 | 6,444.62 |
| November 2026 | 8,587.46 | 6,605.74 |
| December 2026 | 8,802.15 | 6,770.88 |
Mazagon Dock Shipbuilders Share Price Target 2027
| When | Maximum Price | Minimum Price |
| January 2027 | 8,890.17 | 6,838.59 |
| February 2027 | 9,118.12 | 7,013.94 |
| March 2027 | 9,473.73 | 7,287.48 |
| April 2027 | 9,287.97 | 7,144.59 |
| May 2027 | 9,017.45 | 6,936.50 |
| June 2027 | 9,423.23 | 7,248.64 |
| July 2027 | 9,238.46 | 7,106.51 |
| August 2027 | 9,524.19 | 7,326.30 |
| September 2027 | 9,857.53 | 7,582.72 |
| October 2027 | 10,113.83 | 7,779.87 |
| November 2027 | 10,366.68 | 7,974.37 |
| December 2027 | 10,625.84 | 8,173.73 |
Mazagon Dock Shipbuilders Share Price Target 2028
| When | Maximum Price | Minimum Price |
| January 2028 | 10,838.36 | 8,337.20 |
| February 2028 | 11,116.27 | 8,550.97 |
| March 2028 | 11,549.80 | 8,884.46 |
| April 2028 | 11,323.33 | 8,710.26 |
| May 2028 | 10,993.53 | 8,456.56 |
| June 2028 | 11,488.24 | 8,837.11 |
| July 2028 | 11,262.98 | 8,663.83 |
| August 2028 | 11,611.32 | 8,931.78 |
| September 2028 | 12,017.71 | 9,244.39 |
| October 2028 | 12,330.17 | 9,484.75 |
| November 2028 | 12,638.43 | 9,721.87 |
| December 2028 | 12,954.39 | 9,964.91 |
Mazagon Dock Shipbuilders Share Price Target 2029
| When | Maximum Price | Minimum Price |
| January 2029 | 13,213.48 | 10,164.21 |
| February 2029 | 13,552.28 | 10,424.83 |
| March 2029 | 14,080.82 | 10,831.40 |
| April 2029 | 13,804.73 | 10,619.02 |
| May 2029 | 13,402.65 | 10,309.73 |
| June 2029 | 14,005.77 | 10,773.67 |
| July 2029 | 13,731.15 | 10,562.42 |
| August 2029 | 14,155.82 | 10,889.09 |
| September 2029 | 14,651.27 | 11,270.21 |
| October 2029 | 15,032.21 | 11,563.24 |
| November 2029 | 15,408.01 | 11,852.32 |
| December 2029 | 15,793.21 | 12,148.62 |
Mazagon Dock Shipbuilders Share Price Prediction 2030
| When | Maximum Price | Minimum Price |
| January 2030 | 16,109.08 | 12,391.60 |
| February 2030 | 16,522.13 | 12,709.33 |
| March 2030 | 17,166.49 | 13,204.99 |
| April 2030 | 16,829.89 | 12,946.07 |
| May 2030 | 16,339.70 | 12,569.00 |
| June 2030 | 17,074.99 | 13,134.61 |
| July 2030 | 16,740.19 | 12,877.07 |
| August 2030 | 17,257.92 | 13,275.33 |
| September 2030 | 17,861.95 | 13,739.96 |
| October 2030 | 18,326.36 | 14,097.20 |
| November 2030 | 18,784.52 | 14,449.63 |
| December 2030 | 19,254.13 | 14,810.87 |
In 2030, the projected share prices for Mazagon Dock Shipbuilders are set to fluctuate significantly. In January, the maximum price is expected to reach ₹16,109.08, with a minimum of ₹12,391.60. By December, the maximum price is projected to rise to ₹19,254.13, while the minimum is anticipated to be ₹14,810.87. Notable price points throughout the year include July with a maximum of ₹16,740.19 and a minimum of ₹12,877.07, and November with a maximum of ₹18,784.52 and a minimum of ₹14,449.63.
Financial Condition of Mazagon Dock: Last 5 years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 4,905 | 4,048 | 5,733 | 7,827 | 9,467 |
| Expenses + | 4,642 | 3,822 | 5,292 | 7,027 | 8,055 |
| Operating Profit | 263 | 226 | 441 | 801 | 1,412 |
| OPM % | 5% | 6% | 8% | 10% | 15% |
| Other Income + | 546 | 448 | 396 | 687 | 1,101 |
| Interest | 13 | 11 | 14 | 9 | 5 |
| Depreciation | 69 | 60 | 75 | 76 | 83 |
| Profit before tax | 727 | 604 | 749 | 1,403 | 2,425 |
| Tax % | 48% | 25% | 25% | 25% | 25% |
| Net Profit + | 471 | 514 | 611 | 1,119 | 1,937 |
| EPS in Rs | 23.33 | 25.48 | 30.29 | 55.48 | 96.04 |
| Dividend Payout % | 46% | 28% | 29% | 29% | 16% |
Mazagon Dock Shipbuilders Limited has shown robust financial growth from March 2020 to March 2024. Sales nearly doubled from ₹4,905 crore to ₹9,467 crore, while expenses increased from ₹4,642 crore to ₹8,055 crore. Operating profit rose significantly from ₹263 crore to ₹1,412 crore, with the Operating Profit Margin improving from 5% to 15%.
Other income increased from ₹546 crore to ₹1,101 crore, and interest expenses decreased from ₹13 crore to ₹5 crore. Depreciation costs saw a slight rise from ₹69 crore to ₹83 crore. Profit before tax surged from ₹727 crore to ₹2,425 crore.
The tax rate stabilized at 25%, leading to a net profit increase from ₹471 crore to ₹1,937 crore. Earnings per share (EPS) grew from ₹23.33 to ₹96.04. The dividend payout ratio decreased from 46% to 16%, indicating a focus on retaining more earnings within the company.
FAQS
What is the current share price of Mazagon Dock Shipbuilders?
As of July 5th, 2024, the current share price of Mazagon Dock Shipbuilders is ₹5,686.
What is the share price target for Mazagon Dock Shipbuilders for 2025?
According to market analysts and financial experts, the share price target for Mazagon Dock Shipbuilders for 2025 is estimated to be between ₹4,889.80 to ₹7,467.01.
What is the projected share price target for Mazagon Dock Shipbuilders in 2030?
Looking ahead, Mazagon Dock Shipbuilders share price is anticipated to reach impressive heights, ranging from ₹12,391.60 to ₹19,254.13 by December 2030, highlighting the company’s promising long-term growth prospects.
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Conclusion
In conclusion, Mazagon Dock Shipbuilders Limited (MDL) showcased outstanding performance in Q4 FY 2024. The company’s revenue surged by 50% to ₹3,103.6 crore, and net profit more than doubled to ₹663 crore. The EBITDA rose significantly to ₹525 crore, with the EBITDA margin expanding to 17%. MDL declared a final dividend of ₹12.11 per share, in addition to an earlier interim dividend of ₹15.34 per share, reflecting strong financial health and commitment to shareholders. Following these announcements, MDL shares rose by 11%, highlighting investor confidence in the company’s strategic direction and long-term growth prospects.
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