Mazagon Dock Shipbuilders
Market cap ₹75,029 Cr
- P/E
- 26.25
- Day range
- ₹1,845.00 – ₹1,918.10
- 52-week range
- ₹1,845.00 – ₹2,881.80
- Volume
- 7.19 L
- Open
- ₹1,915.00
- Prev close
- ₹1,922.30
Latest results · Q1 FY27(consolidated)Revenue ₹2,943 Cr+12.1%Profit ₹550 Cr+21.7%Margin 18.7%YoY vs the same quarter last year
No red flags in exchange filings: no rising pledge, promoter selling, surveillance or critical filing on record.
MAZDOCK in NSE indices and F&O
F&O margin for one lot of MAZDOCK (225 shares)Research profile
Composite 40 / 100Factor percentiles
Derived metrics
- Earn. yield
- 3.8%
- Graham no.
- ₹621.73
- vs Graham
- -66.6%
- ROE ÷ P/B
- 3.8%
- 12-1 mom.
- -21.3%
- Return / vol
- -1.00
- Magic Formula
- #63
- Piotroski
- 5/6
- FCF yield
- -3.8%
- PEG
- 0.24
Appears in 18 scans
Percentiles rank this stock against the other tracked stocks and change as they do. Scans describe where figures sit today. Hover a label for its definition. Not investment advice.
Peer comparison
All 12 in Defence| Company | M-cap | P/E | P/B | ROE | ROCE | OPM | D/E | Sales YoY |
|---|---|---|---|---|---|---|---|---|
| Hindustan AeronauticsHAL | ₹3.16 L Cr | 33.90 | 7.94 | 24.0% | 32.0% | 28.0% | 0.00 | +14.4% |
| Bharat ElectronicsBEL | ₹2.65 L Cr | 43.10 | 11.10 | 27.6% | 36.0% | 25.0% | 0.00 | +24.9% |
| Bharat Heavy ElectricalsBHEL | ₹1.35 L Cr | 55.44 | 5.20 | 6.3% | 9.0% | 11.0% | 0.22 | +23.8% |
| Power Finance CorpPFC | ₹1.04 L Cr | 4.00 | 0.73 | 26.8% | 9.7% | — | 7.62 | -0.0% |
| Indian Railway FinanceIRFC | ₹97,295 Cr | 13.20 | 1.60 | 12.8% | 5.6% | — | 7.12 | +23.4% |
| REC LtdRECLTD | ₹77,404 Cr | 4.84 | 0.92 | 20.1% | 9.7% | — | 6.10 | -2.0% |
| Mazagon Dock ShipbuildersMAZDOCK | ₹75,029 Cr | 26.25 | 7.69 | 29.1% | 36.0% | 15.0% | 0.05 | +12.1% |
| Rail Vikas NigamRVNL | ₹37,804 Cr | 42.36 | 3.84 | 9.0% | 11.0% | 4.3% | 0.49 | +10.5% |
| Sector median | ₹76,217 Cr | 30.08 | 4.52 | 12.7% | 12.0% | 15.0% | 0.25 | +11.3% |
Sector as classified in the tracked universe; medians use every tracked Defence company, and P/E only profitable ones. Tinted figures beat the median.
Latest news
Updated 8d agoHeadlines about Mazagon Dock Shipbuilders from the last two weeks in the financial press. Stories belong to their publishers; Parasram India does not endorse them.
Key metrics
- P/E (TTM)
- 26.2
- EPS (TTM)
- ₹66.45
- Price / Book
- 7.69
- ROE (FY26)
- 29.1%
- ROCE (latest year)
- 36%
- Dividend yield
- 0.97%
Moving averages (NSE)
- 20-day
- ₹2,067.17
- Price below
- 50-day
- ₹2,296.74
- Price below
- 200-day
- ₹2,402.72
- Price below
Charts & trends
From company filings. Amounts in ₹ crore.
Revenue, profit & margin - quarterly
₹ crore; a loss shows red. Operating margin below, same periods.
- Revenue
- Net profit
Operating margin
Who owns the company
% of equity by quarter, latest Sept 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); the ratio below, same years.
- Equity
- Debt
Debt to equity
Dividends per share
₹ by fiscal year of the ex-date; the latest year runs to date. Not adjusted for the split of 27 Dec 2024: earlier bars are per pre-split share.
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 24 Oct 2026. Consolidated figures where the company reports them. Information only, not investment advice.
Working-capital cycle
-14 days since Mar 2021
-1011 days since Mar 2021
-1010 days since Mar 2021
-16 days since Mar 2021
+420 days since Mar 2021
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 7.69 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
- +70%
- 3 Years
- +26%
- 1 Year
- -34%
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 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 | Change |
|---|---|---|---|---|---|
| Promoter | 81.22% | 81.22% | 81.22% | 81.22% | 0.00 pp |
| FII | 1.80% | 1.73% | 1.72% | 1.73% | +0.01 pp |
| DII | 5.37% | 5.09% | 5.02% | 5.09% | +0.07 pp |
| Public | 11.61% | 11.95% | 12.04% | 11.95% | -0.09 pp |
Filed with NSE for Sept 2026: promoters 81.22%, public 18.78% · XBRL filing
Analysts & fund holdings
Who holds the shares, quarter by quarter
Mutual funds 1.47% (+0.06 pp)- Promoters81.2%
- Foreign institutions1.7%
- Mutual funds1.5%
- Insurance3.6%
- Other domestic institutions0.0%
- Retail10.2%
- Others1.8%
| Fund | % of company | % of fund | 3-month change |
|---|---|---|---|
| HDFC Defence Fund | 0.43% | 3.17% | +0.11 pp |
| Motilal Oswal Nifty India Defence Index Fund | 0.26% | 3.98% | -0.82 pp |
| ICICI Pru Nifty Next 50 Index Fund | 0.08% | 0.66% | -0.12 pp |
| Aditya Birla SL Nifty India Defence Index Fund | 0.07% | 3.98% | -0.82 pp |
| UTI Nifty Next 50 Index Fund | 0.06% | 0.66% | -0.12 pp |
Scorecard
- Performance
- Avg
- 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.
Risk & trend
From 275 daily sessions to 23 Oct 2026.
Risk
- Volatility (1Y)
- 33.5%
- Downside volatility
- 32.0%
- Worst 5% of days
- 3.7%
- Average of that tail
- 4.6%
- Max drawdown (1Y)
- 37.9%
- Below its peak
- 37.9%
Against the market
- Beta vs Nifty 50
- 1.45
- Correlation
- 0.57
- Relative strength (3M)
- -13.8%
- ATR (14)
- 3.4%
Return
- Return 1M
- -15.6%
- Return 3M
- -19.1%
- Return 6M
- -31.2%
- Return 1Y
- -33.6%
- vs 200-day average
- -22.6%
Momentum
- RSI (14) · oversold
- 24.4
- MACD histogram
- -7.05
- Stochastic %K
- 5.0
- ADX (14)
- 44.0
- +DI / −DI
- 11.4 / 44.1
- Money flow index
- 32.4
Participation
- Delivery (20d avg)
- 33.5%
- vs its 60-day baseline
- +0.4 pts
- Volume vs 20-day
- +0.4σ
- Close vs day's VWAP
- -0.4%
- 52-week position
- 0 / 100
These describe what this stock's price has already done. They are not forecasts, signals or recommendations, and a dash means the figure was withheld for want of enough history rather than being zero.
Financial quality
From consolidated statements to 31 Mar 2026.
Piotroski F-Score
5 of 6 tested
- Return on assets positive — passed
- Operating cash flow positive — not testableno cash flow statement for this period
- Return on assets improving — passed
- Cash flow exceeds profit — not testableneeds cash flow and profit against assets
- Debt to assets falling — failed
- Current ratio improving — passed
- No new equity issued — not testableno share count is collected, and financing cash flow mixes equity with debt
- Operating margin improving — passed
- Asset turnover improving — passed
- Free cash flow
- -₹2,830 Cr
- FCF yield
- -3.8%
- Cash conversion
- -0.96
- Accruals ratio
- 0.197
- Net debt
- -₹2,284 Cr
- Net debt / equity
- -0.23
- EV / sales
- 5.46
- PEG
- 0.24
- Capex intensity
- 1.4%
- Revenue CAGR
- 21.3%
- Profit CAGR
- 107.2%
Computed from filed statements, not filed themselves. A dash means an input was absent, and the score counts only the criteria that could actually be tested.
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
Company announcements
Mazagon Dock Shipbuilders Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 27/10/2026 ,inter alia, to consider and approve the Unaudited Financial ....
Mazagon Dock Shipbuilders Limited has clarified the Exchange about the news item appearing in www.hindubusinessline.com regarding Thoothukudi Shipyard Project.
Mazagon Dock Shipbuilders Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015.
Mazagon Dock Shipbuilders Limited has informed the Exchange about Investor Presentation
Mazagon Dock Shipbuilders Limited has informed the Exchange regarding extension of tenure of Shri Biju George as Director (Operations) of the company.
Mazagon Dock Shipbuilders Limited has informed the Exchange about Schedule of Investors meet
Mazagon Dock Shipbuilders Limited has informed the Exchange regarding signing of MOU with National Shipbuilding & Heavy Industries Park Andhra Pradesh (NSHIPAP).
Mazagon Dock Shipbuilders Limited has informed the Exchange regarding signing of MOU with National Shipbuilding & Heavy Industries Park Maharashtra Limited (NSHIPML).
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.
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.
Sourced from the company's NSE XBRL filing dated 31 Jul 2026 (unaudited). View the source filing. Figures are as filed and are not investment advice.
Mazagon Dock Shipbuilders: common questions
Answered from the figures on this page.
