Mazagon Dock Shipbuilders Ltd
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. [1]
- Market Cap ₹ 1,06,646 Cr.
- Current Price ₹ 2,644
- High / Low ₹ 2,930 / 940
- Stock P/E 40.2
- Book Value ₹ 162
- Dividend Yield 0.52 %
- ROCE 50.6 %
- ROE 37.8 %
- Face Value ₹ 5.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 29.0% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.9%
- Company has been maintaining a healthy dividend payout of 30.0%
Cons
- Stock is trading at 16.3 times its book value
- Contingent liabilities of Rs.37,139 Cr.
- Earnings include an other income of Rs.1,199 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Aerospace & Defence Industry: Miscellaneous
Part of BSE 200 BSE PSU BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index Nifty 200
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2,278 | 2,331 | 3,619 | 4,127 | 3,530 | 4,475 | 4,614 | 4,905 | 4,048 | 5,733 | 7,827 | 9,467 | 11,361 | |
2,077 | 2,222 | 3,405 | 3,910 | 3,403 | 4,325 | 4,353 | 4,642 | 3,822 | 5,291 | 7,027 | 8,051 | 8,867 | |
Operating Profit | 201 | 109 | 214 | 217 | 126 | 149 | 261 | 263 | 226 | 442 | 801 | 1,416 | 2,494 |
OPM % | 9% | 5% | 6% | 5% | 4% | 3% | 6% | 5% | 6% | 8% | 10% | 15% | 22% |
532 | 547 | 563 | 760 | 765 | 612 | 664 | 600 | 474 | 420 | 713 | 1,138 | 1,199 | |
Interest | 27 | 2 | 0 | 4 | 4 | 14 | 36 | 36 | 11 | 15 | 9 | 9 | 5 |
Depreciation | 13 | 15 | 31 | 44 | 39 | 50 | 64 | 69 | 60 | 75 | 76 | 83 | 110 |
Profit before tax | 692 | 639 | 746 | 929 | 848 | 697 | 825 | 758 | 630 | 773 | 1,429 | 2,461 | 3,579 |
Tax % | 29% | 35% | 34% | 39% | 37% | 37% | 37% | 46% | 24% | 24% | 25% | 25% | |
494 | 413 | 492 | 568 | 533 | 440 | 517 | 408 | 480 | 586 | 1,073 | 1,845 | 2,652 | |
EPS in Rs | 124.20 | 103.70 | 123.52 | 142.83 | 107.13 | 9.82 | 11.54 | 10.13 | 11.89 | 14.54 | 26.59 | 45.75 | 65.74 |
Dividend Payout % | 20% | 24% | 20% | 18% | 37% | 56% | 19% | 53% | 30% | 30% | 30% | 30% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 15% |
3 Years: | 33% |
TTM: | 35% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 29% |
3 Years: | 47% |
TTM: | 76% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 180% |
1 Year: | 184% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 26% |
3 Years: | 30% |
Last Year: | 38% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 199 | 199 | 199 | 199 | 249 | 224 | 224 | 202 | 202 | 202 | 202 | 202 | 202 |
Reserves | 1,319 | 1,615 | 2,261 | 2,124 | 2,360 | 2,198 | 2,568 | 2,380 | 2,717 | 3,120 | 3,976 | 5,369 | 6,352 |
82 | 81 | 79 | 0 | 0 | 0 | 0 | 0 | 30 | 12 | 6 | 1 | 36 | |
22,752 | 23,648 | 28,401 | 16,384 | 16,363 | 16,502 | 17,633 | 17,883 | 21,679 | 25,904 | 24,709 | 23,219 | 20,940 | |
Total Liabilities | 24,352 | 25,544 | 30,940 | 18,707 | 18,971 | 18,925 | 20,425 | 20,465 | 24,628 | 29,237 | 28,893 | 28,791 | 27,530 |
123 | 126 | 266 | 368 | 546 | 646 | 810 | 836 | 807 | 965 | 1,024 | 838 | 1,501 | |
CWIP | 38 | 78 | 40 | 170 | 98 | 85 | 89 | 80 | 80 | 87 | 62 | 72 | 99 |
Investments | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
24,184 | 25,334 | 30,629 | 18,164 | 18,321 | 18,187 | 19,520 | 19,542 | 23,735 | 28,179 | 27,801 | 27,875 | 25,925 | |
Total Assets | 24,352 | 25,544 | 30,940 | 18,707 | 18,971 | 18,925 | 20,425 | 20,465 | 24,628 | 29,237 | 28,893 | 28,791 | 27,530 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
288 | -1,009 | 442 | 65 | -96 | 68 | -163 | 1,516 | 684 | ||||
516 | 494 | 392 | 417 | 454 | 348 | 326 | -150 | 1,420 | ||||
-120 | -240 | -603 | -126 | -605 | -160 | -183 | -218 | -448 | ||||
Net Cash Flow | 683 | -755 | 231 | 356 | -246 | 257 | -19 | 1,148 | 1,655 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 47 | 62 | 76 | 81 | 77 | 90 | 117 | 107 | 87 | 64 | 47 | 71 |
Inventory Days | 5,875 | 5,315 | 3,239 | 586 | 687 | 514 | 541 | 688 | 1,142 | 1,044 | 605 | 411 |
Days Payable | 806 | 433 | 124 | 151 | 153 | 324 | 416 | 704 | 1,234 | 836 | 366 | 321 |
Cash Conversion Cycle | 5,116 | 4,944 | 3,190 | 516 | 611 | 280 | 241 | 91 | -4 | 272 | 285 | 162 |
Working Capital Days | -617 | -735 | -573 | -571 | -604 | -428 | -445 | -311 | -606 | -645 | -528 | -426 |
ROCE % | 37% | 38% | 35% | 28% | 33% | 30% | 28% | 25% | 38% | 51% |
Documents
Announcements
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Board Meeting Intimation for Consideration Of Second Interim Dividend For The Financial Year 2024-25.
16h - Board meeting to consider 2nd interim dividend for FY 2024-25.
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Closure of Trading Window
1d - Closure of trading window for insider trading.
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Announcement under Regulation 30 (LODR)-Change in Management
1d - Extension of additional charge for Chairman & Managing Director.
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Announcement under Regulation 30 (LODR)-Change in Management
25 Mar - Appointment of Cmde Shailesh Bhalachandra Jamgaonkar as Director.
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Signing Of MOU With The State Disaster Management Authority, Goa.
21 Mar - MOU signed for AI-based disaster detection system.
Annual reports
Concalls
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Jun 2021TranscriptPPT
Leading Shipbuilding Yards
The company is among India’s leading shipbuilding yards, specializing in constructing and repairing warships and submarines for the Ministry of Defence and commercial vessels. It is the only Indian shipyard to have built destroyers and conventional submarines for the Navy, among the first to manufacture Veer and Khukri-class corvettes, and a lead builder of 4 Nilgiri-class stealth frigates. It is the only shipyard to be conferred with the Navratna status. [1] [2]