Rs 38,389 crore order book: President of India backed debt-free multibagger shipbuilding stock gains 17.7 per cent & made a fresh new 52-week highThe stock gave multibagger returns of 280 per cent in just 1 year and a whopping 1,400 per cent in 3 years.
According to its Quarterly Results, the net sales increased by 51 per cent to Rs 3,452.37 crore and net profit increased by 103 per cent to Rs 662.97 crore in Q4FY24 compared to Q4FY23.
In its annual results, the net sales increased by 24 per cent to Rs 10,568.05 crore and net profit increased by 73 per cent to Rs 1,936.97 crore in FY24 compared to FY23.
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Initially a small dry dock, MDL has evolved into a renowned shipbuilding company.
Rs 38,389 crore order book: President of India backed debt-free multibagger shipbuilding stock gains 17.7 per cent & made a fresh new 52-week high
The stock gave multibagger returns of 280 per cent in just 1 year and a whopping 1,400 per cent in 3 years.
On Friday, shares of Mazagon Dock Shipbuilders Limited (MDL) gained 17.70 per cent and to an intraday high & fresh new 52-week high of Rs 3,989 per share from its previous closing of Rs 3,389.05. At the closing bell, shares of the company were trading at Rs 3,874.65 per share, up 14.33 per cent with a spurt in volume by more than 3.32 times on BSE.
According to its Quarterly Results, the net sales increased by 51 per cent to Rs 3,452.37 crore and net profit increased by 103 per cent to Rs 662.97 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 24 per cent to Rs 10,568.05 crore and net profit increased by 73 per cent to Rs 1,936.97 crore in FY24 compared to FY23. As of March 31, 2024, the company is debt-free.
The company is proposing a final dividend of Rs. 12.11 per share for the financial year 2023-24 on top of Rs 15.34 interim dividend already paid out. This recommendation needs to be approved by the shareholders at the company's upcoming Annual General Meeting (AGM). If approved, the final dividend will be distributed within 30 days of the AGM.
Additionally, Indian shipbuilding giant, Mazagon Dock Limited, celebrated its 250th anniversary, marking a transformation from a 1774 dry dock. Now government-owned, they commemorated with new land acquisition, an Indigenous mini-sub launch, eco-friendly boat commissions, and a commemorative coin. The Defence Secretary praised MDL's 250 years of shipbuilding excellence for both the Indian Navy and commercial ventures.
Also Read: Penny stock at Rs 1.87 hits 52-week high: Company signs an MoU worth Rs 25,00,00,000 with Felix Industries for renewable energy; details inside!
Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo/passenger ships, and offshore platforms.
As of December 31, 2023, the company’s order book stands at Rs 38,389 crore and as of March 2024, DIIs have increased their stakes to 0.66 per cent from 0.43 per cent in December 2023. The company has a market cap of over Rs 78,000 crore. The stock gave multibagger returns of 280 per cent in just 1 year and a whopping 1,400 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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