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Mazagon Dock Shipbuilders shares fall 2.01% in morning trade

With the stock currently trading at Rs 2,729.10, Mazagon Dock Shipbuilders' stock performance reflects the bearish sentiment in the market.
August 08, 2025 / 10:37 IST
Disclaimer This is an AI-assisted live blog with updates from multiple sources Disclaimer

Shares of Mazagon Dock Shipbuilders declined by 2.01% to Rs 2,729.10 in Friday's session on the NSE. Mazagon Dock Shipbuilders has demonstrated significant financial growth over the past few years. Here's an overview of their consolidated financial performance:

Consolidated Yearly Data:

Heading20212022202320242025
RevenueRs 4,047.82 CroreRs 5,733.28 CroreRs 7,827.18 CroreRs 9,466.58 CroreRs 11,431.88 Crore
Net ProfitRs 453.47 CroreRs 563.11 CroreRs 1,046.07 CroreRs 1,808.88 CroreRs 2,277.34 Crore
EPSRs 25.48Rs 30.29Rs 55.48Rs 96.04Rs 59.83
BVPSRs 170.15Rs 191.27Rs 236.02Rs 309.56Rs 196.83
ROE14.9715.8323.5031.0230.39
Debt to Equity0.000.000.000.000.00

The company's revenue increased significantly from Rs 4,047.82 Crore in 2021 to Rs 11,431.88 Crore in 2025. Net profit also saw a substantial rise from Rs 453.47 Crore in 2021 to Rs 2,277.34 Crore in 2025.

Standalone Yearly Income Statement:

Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021
SalesRs 11,431 CroreRs 9,466 CroreRs 7,827 CroreRs 5,733 CroreRs 4,047 Crore
Other IncomeRs 1,168 CroreRs 1,138 CroreRs 713 CroreRs 433 CroreRs 600 Crore
Total IncomeRs 12,600 CroreRs 10,604 CroreRs 8,540 CroreRs 6,166 CroreRs 4,648 Crore
Total ExpenditureRs 9,487 CroreRs 8,138 CroreRs 7,104 CroreRs 5,387 CroreRs 4,009 Crore
EBITRs 3,113 CroreRs 2,466 CroreRs 1,435 CroreRs 779 CroreRs 638 Crore
InterestRs 4 CroreRs 5 CroreRs 6 CroreRs 7 CroreRs 8 Crore
TaxRs 784 CroreRs 615 CroreRs 356 CroreRs 186 CroreRs 150 Crore
Net ProfitRs 2,324 CroreRs 1,845 CroreRs 1,072 CroreRs 586 CroreRs 479 Crore

The standalone yearly income statement shows consistent growth in sales, from Rs 4,047 Crore in March 2021 to Rs 11,431 Crore in March 2025. The net profit also increased substantially over the same period.

Consolidated Quarterly Data:

HeadingJun 2024Sep 2024Dec 2024Mar 2025Jun 2025
RevenueRs 2,357.02 CroreRs 2,756.83 CroreRs 3,143.62 CroreRs 3,174.41 CroreRs 2,625.59 Crore
Net ProfitRs 665.94 CroreRs 552.76 CroreRs 768.22 CroreRs 290.42 CroreRs 419.28 Crore
EPS34.5129.0120.018.0611.21

The consolidated quarterly revenue increased from Rs 2,357.02 Crore in June 2024 to Rs 3,174.41 Crore in March 2025, before slightly decreasing to Rs 2,625.59 Crore in June 2025. The net profit showed fluctuations across the quarters, with a high of Rs 768.22 Crore in December 2024 and a low of Rs 290.42 Crore in March 2025.

Standalone Quarterly Income Statement:

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
SalesRs 2,357 CroreRs 2,756 CroreRs 3,143 CroreRs 3,174 CroreRs 2,625 Crore
Other IncomeRs 271 CroreRs 265 CroreRs 286 CroreRs 346 CroreRs 289 Crore
Total IncomeRs 2,628 CroreRs 3,022 CroreRs 3,430 CroreRs 3,520 CroreRs 2,914 Crore
Total ExpenditureRs 1,738 CroreRs 2,269 CroreRs 2,366 CroreRs 3,113 CroreRs 2,346 Crore
EBITRs 889 CroreRs 752 CroreRs 1,063 CroreRs 407 CroreRs 567 Crore
InterestRs 1 CroreRs 1 CroreRs 1 CroreRs 1 CroreRs 1 Crore
TaxRs 222 CroreRs 187 CroreRs 294 CroreRs 79 CroreRs 147 Crore
Net ProfitRs 665 CroreRs 563 CroreRs 768 CroreRs 326 CroreRs 419 Crore

The standalone quarterly income statement reveals fluctuating sales and net profit figures. Sales peaked at Rs 3,174 Crore in March 2025, while net profit reached its highest at Rs 768 Crore in December 2024.

Cash Flow:

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating ActivitiesRs 68 CroreRs -162 CroreRs 857 CroreRs 683 CroreRs 2,078 Crore
Investing ActivitiesRs 348 CroreRs 326 CroreRs 508 CroreRs 1,419 CroreRs -1,299 Crore
Financing ActivitiesRs -159 CroreRs -183 CroreRs -217 CroreRs -448 CroreRs -712 Crore
OthersRs 0 CroreRs 0 CroreRs 0 CroreRs 0 CroreRs 0 Crore
Net Cash FlowRs 256 CroreRs -19 CroreRs 1,147 CroreRs 1,655 CroreRs 66 Crore

The cash flow statement indicates a positive net cash flow in most years, with a significant increase in cash flow from operating activities in March 2025.

Balance Sheet:

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Share CapitalRs 201 CroreRs 201 CroreRs 201 CroreRs 201 CroreRs 201 Crore
Reserves & SurplusRs 2,717 CroreRs 3,119 CroreRs 3,975 CroreRs 5,368 CroreRs 6,979 Crore
Current LiabilitiesRs 20,782 CroreRs 25,183 CroreRs 24,139 CroreRs 22,634 CroreRs 19,823 Crore
Other LiabilitiesRs 924 CroreRs 728 CroreRs 563 CroreRs 570 CroreRs 944 Crore
Total LiabilitiesRs 24,625 CroreRs 29,233 CroreRs 28,880 CroreRs 28,776 CroreRs 27,948 Crore
Fixed AssetsRs 887 CroreRs 1,051 CroreRs 1,085 CroreRs 909 CroreRs 1,598 Crore
Current AssetsRs 22,084 CroreRs 26,529 CroreRs 26,085 CroreRs 25,788 CroreRs 24,713 Crore
Other AssetsRs 1,654 CroreRs 1,652 CroreRs 1,709 CroreRs 2,078 CroreRs 1,635 Crore
Total AssetsRs 24,625 CroreRs 29,233 CroreRs 28,880 CroreRs 28,776 CroreRs 27,948 Crore
Contingent LiabilitiesRs 22,480 CroreRs 1,719 CroreRs 27,382 CroreRs 37,337 CroreRs 0 Crore

The balance sheet shows a steady increase in reserves and surplus, indicating strong financial health. Total assets and liabilities have also seen considerable growth over the years.

Financial Ratios:

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Basic EPS (Rs.)23.7829.0853.1991.5057.63
Diluted Eps (Rs.)23.7829.0853.1991.5057.63
Book Value [Excl. Reval Reserve]/Share (Rs.)144.73164.68207.13276.20178.02
Dividend/Share (Rs.)7.248.7315.9627.4517.31
Face Value101010105
Gross Profit Margin (%)20.3515.1419.3026.9328.24
Operating Margin (%)18.8813.8418.3426.0527.23
Net Profit Margin (%)11.8410.2213.7019.4920.33
Return on Networth / Equity (%)16.4217.6525.6733.1232.37
ROCE (%)19.8919.6030.2840.1638.31
Return On Assets (%)1.942.003.716.418.31
Current Ratio (X)1.061.051.081.141.25
Quick Ratio (X)0.780.750.780.891.02
Debt to Equity (x)0.000.000.000.000.00
Interest Coverage Ratios (X)91.44121.28237.25497.97733.82
Asset Turnover Ratio (%)16.430.210.270.330.40
Inventory Turnover Ratio (X)0.690.000.000.000.88
3 Yr CAGR Sales (%)-4.1911.0526.3352.9341.21
3 Yr CAGR Net Profit (%)4.426.2662.0596.1799.10
P/E (x)4.464.126.2310.1945.88
P/B (x)1.471.453.206.7414.85
EV/EBITDA (x)-4.54-7.660.069.1528.02
P/S (x)1.060.841.713.969.33

The financial ratios indicate strong profitability and efficiency. The P/E ratio as of March 2025 stood at 45.88.

Corporate Actions:

Mazagon Dock Shipbuilders announced the publication of unaudited financial results (standalone & consolidated) for the quarter ended on 30 June 2025, in English and Marathi newspapers on 30 July 2025. The board approved these results on 28 July 2025.

Additionally, the company's board of directors approved the proposal for the acquisition of a controlling stake in Colombo Dockyard PLC on 27 June 2025, with an investment not exceeding USD 52.96 million.

Dividends and Stock Splits:

The company has announced multiple dividends. An interim dividend of Rs 3.00 per share (60%) was announced on April 8, 2025, with an effective date of April 16, 2025. A stock split was announced on October 22, 2024, with the old face value of Rs 10 being split into a new face value of Rs 5. The ex-split date was December 27, 2024.

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