Mazagon Dock Shipbuilders
Market cap ₹94,351 Cr
- P/E
- 35.18
- Day range
- ₹2,315.40 – ₹2,367.60
- 52-week range
- ₹2,057.40 – ₹3,061.40
- Volume
- 5.09 L
- Open
- ₹2,367.60
- Prev close
- ₹2,383.20
Price history
Price & delivery on the exchange
NSE bhavcopy to 11 Sept 2026 · delivery 38.0% today vs 27.9% average · BSE close ₹2,335.5
- Delivery
- NSE close
- BSE close
High delivery with a rising price suggests buyers holding rather than trading the move.
Futures & options
NSE F&O close, 11 Sept 2026 · options expiring 29 Sept 2026
- Near-month future
- ₹2,336
- Change
- -1.93%
- Basis over spot
- −₹2.74
- Futures OI (shares)
- 48.1 L
- OI change
- -0.26%
- Put-call ratio
- 0.49
- Max pain
- ₹2,500
- Resistance (call OI)
- ₹2,600
- Support (put OI)
- ₹2,500
- Lot size
- 225
Open interest by strike
Calls open above (resistance) and puts below (support), in shares
- Call OI
- Put OI
Futures open interest and price
Near-month future, day by day since collection began
The daily history builds from each close.
Key metrics
- P/E (TTM)
- 35.7
- EPS (TTM)
- ₹66.45
- ROE (FY26)
- 29.1%
- ROCE (latest year)
- 36%
- Dividend yield
- 0.76%
Charts & trends
From company filings. Amounts in ₹ crore.
Revenue, profit & margin - quarterly
Bars in ₹ crore (a loss shows red); line is operating margin
- Revenue
- Net profit
- Operating margin
Who owns the company
Shareholding as of Jun 2026
- Promoter
- Public
- DII
- FII
Cash flows
Where cash came from and went, by fiscal year (₹ crore)
- Operating
- Investing
- Financing
- Free cash flow
Return on equity
Net profit over shareholders' equity, by fiscal year
Equity vs debt
Shareholders' equity against borrowings (₹ crore); line is debt-to-equity
- Equity
- Debt
- Debt / equity
Financial statements
| Line item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,828 | 2,362 | 3,104 | 2,357 | 2,757 | 3,144 | 3,174 | 2,626 | 2,929 | 3,601 | 3,850 | 2,943 |
| Expenses | 1,651 | 1,823 | 2,580 | 1,715 | 2,246 | 2,327 | 3,055 | 2,324 | 2,235 | 2,714 | 3,308 | 2,496 |
| Operating Profit | 177 | 539 | 524 | 642 | 511 | 817 | 119 | 302 | 695 | 887 | 543 | 447 |
| OPM % | 10% | 23% | 17% | 27% | 19% | 26% | 3.8% | 11% | 24% | 25% | 14% | 15% |
| Other Income | 251 | 269 | 349 | 271 | 258 | 291 | 287 | 324 | 271 | 262 | 283 | 313 |
| Interest | 1 | 1 | 1 | 1 | 5 | 5 | 8 | 35 | 8 | 6 | 10 | 44 |
| Depreciation | 20 | 20 | 23 | 23 | 23 | 40 | 29 | 23 | 24 | 23 | 23 | 29 |
| Profit before tax | 407 | 786 | 849 | 889 | 740 | 1,063 | 370 | 567 | 934 | 1,120 | 793 | 686 |
| Tax % | 25% | 25% | 26% | 25% | 25% | 28% | 21% | 26% | 24% | 25% | 20% | 25% |
| Net Profit | 333 | 627 | 663 | 696 | 585 | 807 | 325 | 452 | 749 | 880 | 674 | 550 |
| EPS in Rs | ₹8.25 | ₹15.54 | ₹16.43 | ₹17.26 | ₹14.50 | ₹20.01 | ₹8.06 | ₹11.21 | ₹18.58 | ₹21.81 | ₹16.84 | ₹13.62 |
From company filings, updated 11 Sept 2026. Consolidated figures where the company reports them.Information only, not investment advice.
Strengths, risks & growth
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]
Strengths
- Company is almost debt free.
- Company has delivered good profit growth of 33.5% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 32.3%
- Company has been maintaining a healthy dividend payout of 28.6%
Risks
- Stock is trading at 9.67 times its book value
- Contingent liabilities of Rs.28,181 Cr.
- Earnings include an other income of Rs.1,129 Cr.
- Debtor days have increased from 59.5 to 73.1 days.
Compounded Sales Growth
- 10 Years
- +12%
- 5 Years
- +26%
- 3 Years
- +18%
- TTM
- +14%
Compounded Profit Growth
- 10 Years
- +16%
- 5 Years
- +33%
- 3 Years
- +32%
- TTM
- +32%
Stock Price CAGR
- 10 Years
- —
- 5 Years
- +81%
- 3 Years
- +31%
- 1 Year
- -16%
Return on Equity
- 10 Years
- +26%
- 5 Years
- +29%
- 3 Years
- +32%
- Last Year
- +29%
Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.
Shareholding pattern
| Holder | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Change |
|---|---|---|---|---|---|
| Promoter | 81.22% | 81.22% | 81.22% | 81.22% | 0.00 pp |
| FII | 1.97% | 1.80% | 1.73% | 1.72% | -0.01 pp |
| DII | 5.65% | 5.37% | 5.09% | 5.02% | -0.07 pp |
| Public | 11.15% | 11.61% | 11.95% | 12.04% | +0.09 pp |
Filed with NSE for Jun 2026: promoters 81.22%, public 18.78% · XBRL filing
Analysts & fund holdings
Who holds the shares, quarter by quarter
Mutual funds 1.41% (-0.11 pp)- Promoters81.2%
- Foreign institutions1.7%
- Mutual funds1.4%
- Insurance3.6%
- Other domestic institutions0.1%
- Retail10.2%
- Others1.8%
| Fund | % of company | % of fund | 3-month change |
|---|---|---|---|
| HDFC Defence Fund | 0.40% | 3.62% | +0.57 pp |
| Motilal Oswal Nifty India Defence Index Fund | 0.23% | 4.68% | -1.43 pp |
| ICICI Pru Nifty Next 50 Index Fund | 0.07% | 0.74% | -0.03 pp |
| Tata Arbitrage Fund | 0.07% | 0.28% | +0.22 pp |
| Aditya Birla SL Nifty India Defence Index Fund | 0.06% | 4.67% | -0.13 pp |
Scorecard
- Performance
- High
- Valuation
- High
- Growth
- Avg
- Profitability
- High
- Entry point
- Good
- Red flags
- Low
Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.
Corporate actions
- dividend₹4.62
Dividend - Rs 4.62 Per Share
20 Aug 2026ex-date - dividend₹7.50
Interim Dividend - Rs 7.50 Per Share
13 Feb 2026ex-date - dividend₹6.00
Interim Dividend - Rs 6 Per Share
4 Nov 2025ex-date - dividend₹2.71
Dividend - Rs 2.71 Per Share
19 Sept 2025ex-date - dividend₹3.00
Interim Dividend - Rs 3 Per Share
16 Apr 2025ex-date - splitNot available — not reported in this filing
Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share
27 Dec 2024ex-date - dividend₹23.19
Interim Dividend - Rs 23.19 Per Share
30 Oct 2024ex-date - dividend₹12.11
Annual General Meeting/Dividend - Rs 12.11 Per Share
19 Sept 2024ex-date - dividend₹15.34
Interim Dividend - Rs 15.34 Per Share
20 Nov 2023ex-date - dividend₹6.86
Annual General Meeting/Dividend - Rs 6.86 Per Share
20 Sept 2023ex-date - dividend₹9.10
Interim Dividend - Rs 9.10 Per Share
21 Nov 2022ex-date - dividend₹1.63
Annual General Meeting/Dividend - Rs 1.63 Per Share
19 Sept 2022ex-date - dividend₹7.10
Interim Dividend - Rs 7.10 Per Share
6 Jan 2022ex-date - dividend₹1.83
Annual General Meeting/Dividend - Rs 1.83 Per Share
20 Sept 2021ex-date - dividend₹5.41
Interim Dividend - Rs 5.41 Per Share
22 Feb 2021ex-date
Bulk & block deals
| Date | Client | Type | Quantity | Price |
|---|---|---|---|---|
| 12 Sept 2025 | — | Short sale | 151 | — |
Deals of more than 0.5% of shares (bulk), large single trades (block) and short sales, as NSE reports them.
Company announcements
Mazagon Dock Shipbuilders Limited has informed the Exchange regarding appointment of M/s. Sarda & Pareek LLP, Chartered Accountants as the Statutory Auditors of the Company for the financial ....
Mazagon Dock Shipbuilders Limited has informed the Exchange regarding appointment of Mr. K M Ravikumar as Non-Executive Independent Director of the Company w.e.f. 07.09.2026.
Mazagon Dock Shipbuilders Limited has informed the Exchange about receipt of an order from MSETCL for AI based comprehensive Infrasecure Project.
Mazagon Dock Shipbuilders Limited has submitted the Exchange a copy of Scrutinizers report of 93rd Annual General Meeting held on 27 August 2026. Further, the Company has informed the Exchange ....
Mazagon Dock Shipbuilders Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on 27 August 2026.
This is to inform that, Ministry of Defence has appointed Shri K. M. Ravi Kumar as Part-time Non-official (Independent) Director on the Board of the Company w.e.f. date of activation of DIN.
Mazagon Dock Shipbuilders Limited has informed the Exchange that Record Date for the purpose of Final Dividend for the Financial Year 2025-26 is 20 August 2026.
Mazagon Dock Shipbuilders Limited has informed the Exchange about web-link letter dispatched to the Members for accessing the Annual Report and Notice of the 93rd AGM for the FY 2025-26.
Mazagon Dock Shipbuilders Limited has informed the Exchange about Copy of Newspaper Publication w.r.t. 93rd Annual General Meeting scheduled to be held on Thursday, 27 August 2026.
This is to inform that the Business Responsibility and Sustainability Report for the Financial Year 2025-26 is attached herewith.
This is to inform that the Annual Report for the Financial Year 2025-26 is attached herewith.
Mazagon Dock Shipbuilders Limited has informed the Exchange regarding notice of the 93rd Annual General Meeting to be held on 27 August 2026.
Mazagon Dock Shipbuilders Limited has informed the Exchange about Newspaper Advertisement regarding Unaudited Financial Results for the quarter ended 30 June 2026.
Mazagon Dock Shipbuilders Limited has informed the Exchange about Newspaper Advertisement regarding 93rd Annual General Meeting.
The Corporate Investor Presentation on Company's Performance for the quarter ended on 30 June 2026 is attached herewith.
Filed with BSE (scrip 543237); the last 45 days. Documents open at bseindia.com.
Documents
Annual reports
Earnings calls
Credit ratings
- Rating update · 10 Aug from fitch
- Rating update · 21 Aug 2025 from fitch
- Rating update · 28 May 2024 from fitch
- Rating update · 13 Mar 2023 from fitch
- Rating update · 12 Oct 2015 from crisil
Documents open at BSE or the rating agency that issued them.
