Mazagon Dock Shipbuilders (NSE: MAZDOCK) has approved a 10:5 stock split, with the ex-date scheduled for December 27, 2024. After the split, shareholders will own 2 shares for every 1 share previously held. Yesterday was the final opportunity to purchase the company’s shares to qualify for the stock split benefit.
Mazagon Dock Shipbuilders reported a strong financial performance for Q2 FY2025, with a 75.7% YoY increase in net profit to ₹585 crore, up from ₹332.9 crore last year.
Revenue from operations grew by 51%, reaching ₹2,756.8 crore, compared to ₹1,827.7 crore in Q2 FY2024.
EBITDA for the quarter jumped by 187.57% YoY to ₹509 crore, although it slightly decreased from ₹642 crore in the prior quarter.
Mazagon Dock Shipbuilders Limited (MDL) delivered the first stealth frigate of the P17A class, named Nilgiri, to the Indian Navy on December 20, 2024.
Designed by the Indian Navy’s Warship Design Bureau, Nilgiri incorporates advanced technology for improved survivability, stealth, and ship manoeuvrability.
MDL also delivered the fourth stealth destroyer of the P15B class, named Surat, to the Indian Navy. This guided missile destroyer is armed with supersonic Brahmos missiles and Barak-8 surface-to-air missiles, along with advanced anti-submarine warfare capabilities.
Surat is a versatile platform capable of performing a wide range of maritime tasks, from anti-submarine operations to defending against surface warships, missiles, and aircraft.
Mazagon Dock Shipbuilders’ share price rose by 2% on December 26, 2024, closing at ₹4,729.75. This marked a recovery after five consecutive sessions of losses. The stock’s movement reversed the negative trend observed in recent days, including a 6.25% drop on December 20, 2024.
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