Mazagon Dock Shipbuilders Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Excellent return on equity (ROE 29.2%)
- Efficient capital deployment (ROCE 36%)
- Attractively valued vs sector (P/E 26.2x vs industry 47.1x)
- Virtually debt-free
- Near 52-week low — potential value zone (₹1,688)
Concerns
Today's Price Action
The stock closed at ₹1732.8 with zero net change, indicating a flat intraday session. Trading volume matches the 20‑day average at 25,69,448 shares, confirming a typical liquidity profile for the day and no unusual buying or selling pressure.
Valuation Snapshot
Mazagon Dock Shipbuilders Limited trades at a trailing P/E of 26.2, while the Capital Goods sector shows no comparable P/E figure, suggesting limited peer benchmarking. The company’s return on equity stands at 29.2%, reflecting strong earnings generation relative to its book value; a P/B ratio of zero further indicates that book value is negligible in the valuation.
Key Levels to Watch
The current price sits just below the lower end of the 52‑week range, with the 52‑week low at ₹1845 and the high at ₹2883. Open‑interest data points around the ₹1700–₹1800 band have historically acted as support and resistance zones, and recent spikes in OI near ₹1750 suggest a possible concentration of contracts.
Chart Pattern
On the daily chart, a bearish engulfing candlestick formed two sessions ago, and a hammer pattern appeared seven sessions ago, both on the 1‑day timeframe. These formations suggest a recent shift in short‑term momentum and potential indecision.
Data Summary
Key metrics include a market‑capitalisation figure reported as ₹0 Cr, a P/B ratio of 0, and a trailing P/E of 26.2. Volume remains consistent with the 20‑day average, and the stock’s price remains confined between its 52‑week low of ₹1845 and high of ₹2883, highlighting a narrow trading range with no significant price deviation observed over the past month.
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics Limited | ₹4,850 | ₹3.2L Cr | 33.9 | 7.9 | 24 | 32 | 0 |
| BEL Bharat Electronics Limited | ₹363 | ₹2.6L Cr | 43 | 11.08 | 27.4 | 36.4 | 0 |
| TMCV Tata Motors Limited | ₹— | ₹1.5L Cr | 20.4 | 10.71 | 34 | 35.9 | 0.44 |
| BHEL Bharat Heavy Electricals Limited | ₹405 | ₹1.3L Cr | 46.9 | 5.28 | 6.23 | 9.14 | 0.22 |
| ABB ABB India Limited | ₹6,490 | ₹1.3L Cr | 84.4 | 14.72 | 22.4 | 29.9 | 0.02 |
| ENRIN Siemens Energy India Limited | ₹2,840 | ₹1.3L Cr | 98.46 | 26.82 | — | — | 0.04 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹832 | ₹1.3L Cr | 91.7 | 15 | 20.5 | 26.7 | 0.02 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
MAZDOCK · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 84.83% | 84.83% | 84.83% | 84.83% | 84.83% | 84.83% |
| FII | 3.32% | 2.38% | 2.44% | 1.45% | 1.55% | 2.26% |
| DII | 0.43% | 0.66% | 0.83% | 1.00% | 1.46% | 1.69% |
| Public | 11.42% | 12.12% | 11.89% | 12.72% | 12.16% | 11.21% |
Corporate Events
To consider and approve the Unaudited Financial Results (Standalone & Consolidated) for thequarter and period ended on 30 September 2026 and to consider declaration of Interim Dividend for FY 2026-27.
Dividend - Rs 4.62 Per Share
To consider and approve the unaudited Financial Results (Standalone & Consolidated) for the quarter ended Jun 30, 2026
To consider and approve the Audited Financial Results (Standalone & Consolidated) for thequarter and financial year ended on 31 March 2026 and recommend Final Dividend, if any, for the financial year 2025-26.
Interim Dividend - Rs 7.50 Per Share
Interim Dividend - Rs 6 Per Share
Dividend - Rs 2.71 Per Share
Interim Dividend - Rs 3 Per Share
Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share
Interim Dividend - Rs 23.19 Per Share
Latest News
All newsMazagon Dock reports Q2FY26 financial results
*Mazagon Dock reports Q2FY26 financial results*. The company has submitted its unaudited standalone and consolidated financial results for the quarter ended **30 September 2026**. Results include key financial metrics for the period, though specific figures were not detailed in the filing. Traders may await management commentary on order execution and margins. 📊 *STOCKS:* MAZDOCK | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Earnings
Mazagon Dock declares ₹5 interim dividend per share
*Mazagon Dock declares ₹5 interim dividend per share* for FY 2026-27. The dividend of **₹5 per share** was declared on October 27, 2026, on fully paid-up equity shares of **₹5 each**. This follows the company's interim payout strategy. The announcement is routine and in line with expectations. 📊 *STOCKS:* $MAZDOCK | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #Dividend
Mazagon Dock fined by exchange, board issues comments
*Mazagon Dock fined by exchange, board issues comments.* The company disclosed that a fine has been levied by the exchange, with the board providing its remarks on the matter. No **monetary details** or **adverse implications** on operations were specified. The filing is part of routine regulatory disclosures. 📊 *STOCKS:* $MAZDOCK | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #Regulatory
Mazagon Dock presents investor update to NSE
*Mazagon Dock presents investor update to NSE.* The company filed an investor presentation with the exchange, outlining business updates and strategic direction. Such filings are routine and typically do not contain material financial surprises. **No immediate financial figures or重大 announcements** were highlighted in the summary. 📊 *STOCKS:* $MAZDOCK | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #investor-presentation
Mazagon Dock wins new defence order, shares gain
*Mazagon Dock wins new defence order, shares gain.* The company secured a new order, boosting investor sentiment. Defence PSUs are seeing increased activity amid government modernization plans. The win reinforces its order book strength. 📊 *STOCKS:* MAZDOCK | 🏢 *SECTOR:* Defence | #MEDIUMIMPACT #Defence
Mazagon Dock fined by exchange; board issues comment
*Mazagon Dock fined by exchange; board issues comment*. The NSE imposed a penalty on Mazagon Dock Shipbuilders for non-compliance. The board has responded with clarifications in a regulatory filing. No material financial impact is expected from the fine. 📊 *STOCKS:* MAZDOCK | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #Regulatory
Navy commissions indigenous stealth frigate Mahendragiri
*Navy commissions indigenous stealth frigate Mahendragiri* This week, the Indian Navy will commission the stealth frigate INS Mahendragiri, built at Mazagon Dock Shipbuilders. The event highlights India's growing indigenous defence manufacturing capabilities. While no direct financial figures are disclosed, such milestones often boost defence sector sentiment. 📊 *STOCKS:* | 🏢 *SECTOR:* Defence | #MEDIUMIMPACT #Defence
Mazagon Dock acquires Colombo Dockyard for ₹452 crore
*Mazagon Dock acquires Colombo Dockyard for ₹452 crore* in a strategic expansion move. The acquisition strengthens its footprint in ship repair and defence logistics in South Asia. **₹452 crore** deal enhances regional capabilities and order book visibility. 📊 *STOCKS:* MAZDOCK | 🏢 *SECTOR:* Corporate | #MEDIUMIMPACT #Acquisition
Dalmia Bharat, Mazagon Dock, Coal India, NTPC to consider dividends this week
*Dalmia Bharat, Mazagon Dock, Coal India, NTPC, and others may announce dividend proposals this week.* The move follows their upcoming board meetings where payout plans could be discussed. Investors are watching for **dividend yield** and **payout ratios**, especially in stable sectors like power and mining. Final declarations depend on board approvals and future capital plans. 📊 *STOCKS:* $DALMIABHA $MAZDOCK $COALINDIA $NTPC | 🏢 *SECTOR:* Funding | #LOWIMPACT #Dividend
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3.6K Cr 22.9% | ₹2.9K Cr 11.5% | ₹2.6K Cr 17.3% | ₹3.2K Cr 1.0% | ₹3.1K Cr 14.0% | ₹2.8K Cr 17.0% | ₹2.4K Cr 24.1% | ₹3.1K Cr |
| Op. Profit | ₹887 Cr 27.6% | ₹695 Cr 130.1% | ₹302 Cr 153.8% | ₹119 Cr 85.4% | ₹817 Cr 59.9% | ₹511 Cr 20.4% | ₹642 Cr 22.5% | ₹524 Cr |
| OPM | 25.0% 4.2% | 24.0% 118.2% | 11.0% 189.5% | 3.8% 85.4% | 26.0% 36.8% | 19.0% 29.6% | 27.0% 58.8% | 17.0% |
| Net Profit | ₹880 Cr 17.5% | ₹749 Cr 65.7% | ₹452 Cr 39.1% | ₹325 Cr 59.7% | ₹807 Cr 37.9% | ₹585 Cr 15.9% | ₹696 Cr 5.0% | ₹663 Cr |
| EPS (₹) | 21.81 17.4% | 18.58 65.7% | 11.21 39.1% | 8.06 59.7% | 20.01 38.0% | 14.5 16.0% | 17.26 5.1% | 16.43 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹13.0K Cr 13.8% | ₹11.4K Cr 20.8% | ₹9.5K Cr 21.0% | ₹7.8K Cr 36.5% | ₹5.7K Cr 41.6% | ₹4.0K Cr 17.5% | ₹4.9K Cr 6.3% | ₹4.6K Cr 3.5% | ₹4.5K Cr 27.2% | ₹3.5K Cr |
| Expenses | ₹10.7K Cr 15.0% | ₹9.3K Cr 16.0% | ₹8.1K Cr 14.6% | ₹7.0K Cr 32.8% | ₹5.3K Cr 38.5% | ₹3.8K Cr 17.7% | ₹4.6K Cr 6.6% | ₹4.4K Cr 1.2% | ₹4.3K Cr 27.4% | ₹3.4K Cr |
| Op. Profit | ₹2.3K Cr 8.4% | ₹2.1K Cr 47.8% | ₹1.4K Cr 76.8% | ₹801 Cr 81.6% | ₹441 Cr 95.1% | ₹226 Cr 14.1% | ₹263 Cr 0.8% | ₹261 Cr 66.2% | ₹157 Cr 21.7% | ₹129 Cr |
| OPM | 17.0% 5.6% | 18.0% 20.0% | 15.0% 50.0% | 10.0% 25.0% | 8.0% 33.3% | 6.0% 20.0% | 5.0% 16.7% | 6.0% 71.4% | 3.5% 12.5% | 4.0% |
| Other Income | ₹1.1K Cr 2.4% | ₹1.1K Cr 1.0% | ₹1.1K Cr 60.3% | ₹687 Cr 73.5% | ₹396 Cr 11.6% | ₹448 Cr 17.9% | ₹546 Cr 11.5% | ₹617 Cr 9.2% | ₹565 Cr 26.2% | ₹766 Cr |
| Interest | ₹74 Cr 164.3% | ₹28 Cr 211.1% | ₹9 Cr 0.0% | ₹9 Cr 35.7% | ₹14 Cr 27.3% | ₹11 Cr 15.4% | ₹13 Cr 63.9% | ₹36 Cr 80.0% | ₹20 Cr 17.6% | ₹17 Cr |
| Depreciation | ₹97 Cr 15.7% | ₹115 Cr 38.6% | ₹83 Cr 9.2% | ₹76 Cr 1.3% | ₹75 Cr 25.0% | ₹60 Cr 13.0% | ₹69 Cr 7.8% | ₹64 Cr 23.1% | ₹52 Cr 33.3% | ₹39 Cr |
| PBT | ₹3.2K Cr 5.7% | ₹3.1K Cr 26.3% | ₹2.4K Cr 72.8% | ₹1.4K Cr 87.3% | ₹749 Cr 24.0% | ₹604 Cr 16.9% | ₹727 Cr 6.6% | ₹778 Cr 19.7% | ₹650 Cr 22.5% | ₹839 Cr |
| Tax % | 25.0% 3.8% | 26.0% 4.0% | 25.0% 0.0% | 25.0% 0.0% | 25.0% 0.0% | 25.0% 47.9% | 48.0% 20.0% | 40.0% 2.6% | 39.0% 5.4% | 37.0% |
| Net Profit | ₹2.6K Cr 6.8% | ₹2.4K Cr 24.6% | ₹1.9K Cr 73.1% | ₹1.1K Cr 83.1% | ₹611 Cr 18.9% | ₹514 Cr 9.1% | ₹471 Cr 11.5% | ₹532 Cr 7.3% | ₹496 Cr 15.2% | ₹585 Cr |
| EPS (₹) | 64.04 7.0% | 59.83 24.6% | 48.02 73.1% | 27.74 83.2% | 15.14 18.8% | 12.74 9.3% | 11.66 1.9% | 11.88 7.3% | 11.07 90.6% | 117.49 |
| Div Payout | 28.0% 3.4% | 29.0% 0.0% | 29.0% 0.0% | 29.0% 0.0% | 29.0% 3.6% | 28.0% 39.1% | 46.0% 142.1% | 19.0% 61.2% | 49.0% 44.1% | 34.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
Liabilities | ||||||||||
| Equity Capital | ₹202 Cr 0.0% | ₹202 Cr 0.0% | ₹202 Cr 0.0% | ₹202 Cr 0.0% | ₹202 Cr 0.0% | ₹202 Cr 0.0% | ₹202 Cr 9.8% | ₹224 Cr 0.0% | ₹224 Cr 10.0% | ₹249 Cr |
| Reserves | ₹8.7K Cr 12.5% | ₹7.7K Cr 28.1% | ₹6.0K Cr 32.6% | ₹4.6K Cr 24.7% | ₹3.7K Cr 13.2% | ₹3.2K Cr 13.0% | ₹2.9K Cr 4.5% | ₹3.0K Cr 14.7% | ₹2.6K Cr 4.4% | ₹2.7K Cr |
| Borrowings | ₹2 Cr 90.0% | ₹20 Cr 1900.0% | ₹1 Cr 83.3% | ₹6 Cr 50.0% | ₹12 Cr 60.0% | ₹30 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other Liabilities | ₹17.0K Cr 18.2% | ₹20.8K Cr 10.2% | ₹23.2K Cr 6.0% | ₹24.7K Cr 4.6% | ₹25.9K Cr 19.5% | ₹21.7K Cr 21.2% | ₹17.9K Cr 1.4% | ₹17.6K Cr 6.6% | ₹16.5K Cr 1.1% | ₹16.4K Cr |
| Total Liabilities | ₹26.0K Cr 9.9% | ₹28.8K Cr 2.2% | ₹29.5K Cr 0.0% | ₹29.5K Cr 1.0% | ₹29.8K Cr 18.4% | ₹25.1K Cr 20.0% | ₹20.9K Cr 0.4% | ₹20.9K Cr 7.6% | ₹19.4K Cr 0.1% | ₹19.3K Cr |
Assets | ||||||||||
| Fixed Assets | ₹1.4K Cr 1.5% | ₹1.5K Cr 74.9% | ₹838 Cr 18.2% | ₹1.0K Cr 6.1% | ₹965 Cr 19.6% | ₹807 Cr 3.5% | ₹836 Cr 3.2% | ₹810 Cr 14.9% | ₹705 Cr 29.1% | ₹546 Cr |
| CWIP | ₹210 Cr 57.9% | ₹133 Cr 84.7% | ₹72 Cr 16.1% | ₹62 Cr 28.7% | ₹87 Cr 8.8% | ₹80 Cr 0.0% | ₹80 Cr 10.1% | ₹89 Cr 4.7% | ₹85 Cr 13.3% | ₹98 Cr |
| Investments | ₹833 Cr 8.9% | ₹765 Cr 12.7% | ₹679 Cr 15.3% | ₹589 Cr 8.7% | ₹542 Cr 4.4% | ₹519 Cr 7.2% | ₹484 Cr 12.3% | ₹431 Cr 0.5% | ₹429 Cr 14.1% | ₹376 Cr |
| Other Assets | ₹23.5K Cr 11.2% | ₹26.4K Cr 5.1% | ₹27.9K Cr 0.3% | ₹27.8K Cr 1.3% | ₹28.2K Cr 18.7% | ₹23.7K Cr 21.5% | ₹19.5K Cr 0.1% | ₹19.5K Cr 7.5% | ₹18.2K Cr 0.9% | ₹18.3K Cr |
| Total Assets | ₹26.0K Cr 9.9% | ₹28.8K Cr 2.2% | ₹29.5K Cr 0.0% | ₹29.5K Cr 1.0% | ₹29.8K Cr 18.4% | ₹25.1K Cr 20.0% | ₹20.9K Cr 0.4% | ₹20.9K Cr 7.6% | ₹19.4K Cr 0.1% | ₹19.3K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹2.1K Cr 207.3% | ₹684 Cr 54.9% | ₹1.5K Cr 1030.1% | ₹-163 Cr 339.7% | ₹68 Cr 170.8% | ₹-96 Cr 247.7% | ₹65 Cr 86.8% | ₹491 Cr 149.0% | ₹-1.0K Cr 234.5% | ₹746 Cr |
| Investing CF | ₹-1.3K Cr 191.5% | ₹1.4K Cr 1046.7% | ₹-150 Cr 146.0% | ₹326 Cr 6.3% | ₹348 Cr 23.3% | ₹454 Cr 8.9% | ₹417 Cr 19.8% | ₹348 Cr 29.4% | ₹493 Cr 12.0% | ₹560 Cr |
| Financing CF | ₹-736 Cr 64.3% | ₹-448 Cr 105.5% | ₹-218 Cr 19.1% | ₹-183 Cr 14.4% | ₹-160 Cr 73.6% | ₹-605 Cr 380.2% | ₹-126 Cr 79.3% | ₹-608 Cr 148.2% | ₹-245 Cr 105.9% | ₹-119 Cr |
| Net Cash Flow | ₹67 Cr 96.0% | ₹1.7K Cr 44.2% | ₹1.1K Cr 6142.1% | ₹-19 Cr 107.4% | ₹257 Cr 204.5% | ₹-246 Cr 169.1% | ₹356 Cr 54.1% | ₹231 Cr 130.6% | ₹-755 Cr 163.6% | ₹1.2K Cr |
| Free Cash Flow | ₹1.3K Cr 274.1% | ₹347 Cr 75.2% | ₹1.4K Cr 790.1% | ₹-203 Cr 880.8% | ₹26 Cr 113.3% | ₹-196 Cr 78.2% | ₹-110 Cr 135.4% | ₹311 Cr 127.1% | ₹-1.1K Cr 286.8% | ₹615 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 34d 52.1% | 71d 51.1% | 47d 26.6% | 64d 26.4% | 87d 18.7% | 107d 8.5% | 117d 28.6% | 91d 16.7% | 78d 4.9% | 82d |
| Inventory Days | 298d 27.5% | 411d 32.1% | 605d 42.0% | 1044d 8.6% | 1142d 66.0% | 688d 29.1% | 533d 4.7% | 559d 28.5% | 782d 25.7% | 622d |
| Days Payable | 240d 25.2% | 321d 12.3% | 366d 56.2% | 836d 32.3% | 1234d 75.3% | 704d 71.7% | 410d 16.1% | 353d 102.9% | 174d 8.8% | 160d |
| Cash Conv. Cycle | 92d 43.2% | 162d 43.2% | 285d 4.8% | 272d 6900.0% | -4d 104.4% | 91d 62.1% | 240d 19.2% | 297d 56.6% | 685d 25.9% | 544d |
| Working Capital Days | -356d 16.4% | -426d 19.3% | -528d 18.1% | -645d 6.3% | -607d 95.2% | -311d 30.0% | -444d 3.0% | -431d 29.1% | -608d 5.7% | -575d |
| ROCE | 43.0% 2.3% | 44.0% 33.3% | 33.0% 57.1% | 21.0% 8.7% | 23.0% 4.2% | 24.0% 11.1% | 27.0% 17.4% | 23.0% 23.3% | 30.0% 11.8% | 34.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Mazagon Dock Shipbuilders Limited
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]
Capital GoodsIndustrial Manufacturing