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Mazagon Dock Shipbuilders Limited MAZDOCK NSEAIDEFENCEINFRAPSU

Industrials · Aerospace & Defense · India
https://mazagondock.in
Company Profile ↓
₹2,379.40
-26.63% 1Y
Mkt Cap₹95,980.24 Cr
P/E37.15
P/B9.94
Div. Yield0.79%
52W High₹3,242.82
52W Low₹2,065.20
Book Value₹241.83
EPS (TTM)₹64.04

Company Overview

Mazagon Dock Shipbuilders Limited engages in the building and repairing of ships, submarines, vessels, and related engineering products in India and internationally. The company operates in two segments, Shipbuilding, and Submarine and Heavy Engineering. The company offers naval platforms, such as destroyers, conventional submarines, frigates, corvettes, missile boats, offshore patrol vessels, and floating border outposts. It also provides merchant ships, such as general cargo vessels, multipurpose support vessels, offshore supply vessels, tugs, dredgers, passenger cum cargo vessels, water tankers, barges, trawlers, and windmill towers and pontoons. In addition, the company offers offshore platforms and jack-up rigs for the oil sector. Further, it offers training ships, next-generation offshore patrol vessels, and fast patrol vessels for coast guard ships. Additionally, the company provides AI products, including remotely operated vehicles, AI-enabled phased array ultrasonic testing, and AI-enabled computerized radiography. The company was formerly known as Mazagon Dock Limited and changed its name to Mazagon Dock Shipbuilders Limited in May 2015. Mazagon Dock Shipbuilders Limited was founded in 1774 and is based in Mumbai, India.

Why Investors Should Care

Strong Return on Equity

Generates a return on equity of 26.5%, reflecting efficient use of shareholder capital.

Healthy Capital Returns

Return on capital employed stands at 28.5%.

Consistent Profit Growth

Net profit has compounded at 32.2% per year over the last five years.

Steady Revenue Expansion

Revenue has grown at a 19.7% CAGR over the past five years.

Healthy Margins

Maintains a net profit margin of 19.9%.

Recent Developments

  • Mar 2026 Revenue of ₹13,006.31 Cr (+13.8% YoY); net profit ₹2,583.38 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +13.8%, earnings +7.0%.
  • 5-Year Trend Long-term compounding — revenue CAGR 19.7%, profit CAGR 32.2%.

Growth & Price Performance

Compounded Sales Growth

5 Years:19.70%
1 Year:13.77%

Compounded Profit Growth

5 Years:32.16%
1 Year:7.04%

Stock Price Performance

1 Year:-26.63%
6 Months:-5.33%
3 Months:-9.06%
1 Month:-3.57%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

AI Exposure AI Defence / AI in Naval Systems
Core Focus

Mazagon Dock builds submarines and frigates with AI-augmented sonar, combat management systems, and AI predictive maintenance.

Key Initiatives
  • AI in naval platforms & combat systems Mazagon Dock builds India's submarines and warships, which increasingly integrate AI-enabled combat-management, sensor-fusion and autonomous systems.
  • Smart shipbuilding & digital twins Digital-twin and AI-driven design/production techniques improve build efficiency and quality at the yard.
  • Indigenous defence content Indigenisation drives higher domestic AI-capable systems content in future naval programmes.
Why Investors Should Care
  • Strategic monopoly-like position in Indian naval shipbuilding with strong order visibility.
  • Excellent returns (ROCE ~36%, ROE ~29%) and ~38% five-year profit CAGR.
  • AI integration rises with each new-generation warship/submarine programme.
  • Lumpy, milestone-based revenue and negative working-capital swings can move earnings.
AI InvestmentTech tied to govt naval programs (Project 75, P-17A frigates, P-75I).
AI RevenueOrder book >₹38,000 Cr; multi-year visibility.
ROI (Now)EBITDA margin ~16%; ROE ~25%.
ROI (Expected)AI naval combat systems demand to grow as Indian Navy modernises.

Curated from public filings and analyst commentary; figures are illustrative.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Strong return on equity of 26.5%.
  • Healthy ROCE of 28.5%.
  • Compounding revenue at 19.7% over 5 years.
  • Profit CAGR of 32.2% over 5 years.

CONS

  • Trading 26.6% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
37.15
Industry PE
29.60
Forward P/E
29.20
PEG Ratio
-
Book Value
₹241.83
Price to Book
9.94
P/S
7.45
EV/EBITDA
37.30
Dividend Yield
0.79%

Growth (CAGR)

Revenue 5Y
19.70%
Profit 5Y
32.16%
Revenue (YoY)
13.77%
Earnings (YoY)
7.04%

Profitability & Returns

ROCE
28.51%
ROE
26.48%
ROA
9.41%
Profit Margin
19.86%
Op Margin
16.68%
Gross Margin
35.75%
EPS (Latest Qtr)
₹16.84
EPS (TTM)
₹64.04

Balance Sheet & Liquidity

Debt/Equity
4.59
Quick Ratio
1.24
Current Ratio
1.40
Debt
₹447.37 Cr
Total Assets
₹27,457.75 Cr
Current Assets
₹22,255.04 Cr
Working Capital
₹6,399.51 Cr

Ownership

Promoter Holding
81.22%
Chg in Prom Hold
-0.00%
FII / Inst Holding
5.87%
Chg in FII Hold
-0.00%

Financial Snapshot

Enterprise Value
₹95,980.24 Cr
Total Revenue (TTM)
₹13,006.31 Cr
EBITDA
₹3,405.03 Cr
Free Cash Flow
₹-3,066.91 Cr
Operating Cash Flow
₹-2,890.73 Cr
Shares Outstanding
₹40.34 Cr
Gross Margin
35.75%
Payout Ratio
30.00%

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 MAZDOCK Mazagon Dock Shipbuilders Limited NSEAIDEFENCEINFRAPSU 2,379.40 37.15 ₹95,980.24 Cr 0.79% 28.51% 26.48% 19.70% 32.16%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 3,849.40 32.93 ₹5.30 L Cr 0.96% 14.55% 14.72% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,834.20 31.50 ₹4.23 L Cr 0.42% 10.97% 13.32% 22.93% 34.11%
4 BEL Bharat Electronics Limited NIFTY50NSEAIDEFENCEINFRAPSU 410.75 56.42 ₹3.00 L Cr 1.05% 31.88% 25.27% 16.63% 26.64%
5 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,463.30 32.75 ₹2.98 L Cr 0.44% 13.80% 22.21% 7.87% 16.08%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 5,202.50 -84.07 ₹2.01 L Cr 0.24% 4.02% -34.31% 16.59% -227.40%
7 CUMMINSIND Cummins India Limited NSEINFRA 5,535.50 64.97 ₹1.53 L Cr 1.17% 34.95% 27.87% 16.07% 24.35%
8 ABB ABB India Limited NSEAIINFRA 6,951.50 88.30 ₹1.47 L Cr 0.58% 28.45% 21.29% 15.41% 17.97%
9 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 33,005.00 148.92 ₹1.47 L Cr 0.02% 24.92% 19.09% 22.24% 119.12%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 2,079.00 Cr2,173.00 Cr1,828.00 Cr2,362.00 Cr3,104.00 Cr2,357.00 Cr2,757.00 Cr3,143.62 Cr3,174.41 Cr2,625.59 Cr2,929.00 Cr3,601.09 Cr3,850.39 Cr
Cost of Revenue -------1,770.24 Cr2,025.78 Cr1,289.11 Cr-2,290.16 Cr2,810.92 Cr
Gross Profit -------1,373.38 Cr1,148.63 Cr1,336.48 Cr-1,310.93 Cr1,039.47 Cr
Operating Expenses 1,868.00 Cr2,001.00 Cr1,651.00 Cr1,823.00 Cr2,580.00 Cr1,715.00 Cr2,246.00 Cr596.14 Cr1,057.89 Cr1,057.85 Cr2,235.00 Cr447.16 Cr519.46 Cr
Operating Income 191.00 Cr152.00 Cr157.00 Cr519.00 Cr501.00 Cr619.00 Cr488.00 Cr777.24 Cr90.74 Cr278.63 Cr671.00 Cr863.77 Cr520.01 Cr
EBITDA 211.00 Cr172.00 Cr177.00 Cr539.00 Cr524.00 Cr642.00 Cr511.00 Cr1,107.79 Cr406.13 Cr591.00 Cr695.00 Cr1,148.79 Cr826.27 Cr
Interest Expense 2.00 Cr1.00 Cr1.00 Cr1.00 Cr1.00 Cr1.00 Cr5.00 Cr5.36 Cr7.72 Cr1.09 Cr8.00 Cr5.95 Cr10.01 Cr
Pretax Income 400.00 Cr383.00 Cr407.00 Cr786.00 Cr849.00 Cr889.00 Cr740.00 Cr1,062.57 Cr369.81 Cr566.85 Cr934.00 Cr1,119.63 Cr793.38 Cr
Tax Provision 104.00 Cr95.75 Cr101.75 Cr196.50 Cr220.74 Cr222.25 Cr185.00 Cr294.35 Cr79.39 Cr147.57 Cr224.16 Cr282.50 Cr160.57 Cr
Net Income 326.00 Cr314.00 Cr333.00 Cr627.00 Cr663.00 Cr696.00 Cr585.00 Cr807.04 Cr325.29 Cr452.15 Cr749.00 Cr879.78 Cr679.18 Cr
Diluted EPS 8.097.798.2515.5416.4317.2614.5020.018.0611.2118.5821.8116.84

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 3,605.00 Cr4,094.00 Cr3,505.00 Cr4,457.00 Cr4,614.00 Cr4,905.00 Cr4,048.00 Cr-7,584.03 Cr9,068.01 Cr11,431.88 Cr13,006.31 Cr
Cost of Revenue --------5,614.60 Cr6,633.77 Cr7,003.32 Cr8,356.39 Cr
Gross Profit --------1,969.43 Cr2,434.24 Cr4,428.56 Cr4,649.92 Cr
Operating Expenses 3,383.00 Cr3,874.00 Cr3,375.00 Cr4,300.00 Cr4,353.00 Cr4,642.00 Cr3,822.00 Cr-1,242.39 Cr1,096.19 Cr2,454.40 Cr2,480.96 Cr
Operating Income 191.00 Cr177.00 Cr90.00 Cr105.00 Cr197.00 Cr194.00 Cr166.00 Cr-727.04 Cr1,338.05 Cr1,974.16 Cr2,168.96 Cr
EBITDA 222.00 Cr221.00 Cr129.00 Cr157.00 Cr261.00 Cr263.00 Cr226.00 Cr-1,487.28 Cr2,516.80 Cr3,200.93 Cr3,405.03 Cr
Interest Expense 8.00 Cr16.00 Cr17.00 Cr20.00 Cr36.00 Cr13.00 Cr11.00 Cr-9.02 Cr8.84 Cr24.07 Cr71.57 Cr
Pretax Income 746.00 Cr922.00 Cr839.00 Cr650.00 Cr778.00 Cr727.00 Cr604.00 Cr-1,402.68 Cr2,424.83 Cr3,061.66 Cr3,236.79 Cr
Tax Provision 253.64 Cr359.58 Cr310.43 Cr253.50 Cr311.20 Cr348.96 Cr151.00 Cr-356.61 Cr615.95 Cr784.32 Cr814.91 Cr
Net Income 516.00 Cr596.00 Cr585.00 Cr496.00 Cr532.00 Cr471.00 Cr514.00 Cr-1,119.03 Cr1,936.97 Cr2,413.51 Cr2,583.38 Cr
Diluted EPS 129.59149.63117.4911.0711.8811.6612.74-27.7448.0259.8364.04

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 31,233.00 Cr19,028.00 Cr19,345.00 Cr19,374.00 Cr20,850.00 Cr20,943.00 Cr25,140.00 Cr-29,463.17 Cr29,448.81 Cr28,707.72 Cr27,457.75 Cr
Current Assets --------26,085.19 Cr25,788.19 Cr24,713.81 Cr22,255.04 Cr
Cash & Equivalents --------1,868.42 Cr5,218.48 Cr5,285.39 Cr2,731.42 Cr
Inventory --------7,356.86 Cr5,713.37 Cr4,537.08 Cr2,616.89 Cr
Receivables --------1,002.33 Cr1,846.93 Cr1,067.21 Cr2,605.69 Cr
Total Liabilities --------24,703.01 Cr23,205.34 Cr20,767.84 Cr17,473.74 Cr
Current Liabilities --------24,139.85 Cr22,618.73 Cr19,823.03 Cr15,855.53 Cr
Long Term Debt -----------72.03 Cr
Total Debt 83.00 Cr0000030.00 Cr-6.04 Cr16.55 Cr20.33 Cr447.37 Cr
Total Equity 2,753.00 Cr2,641.00 Cr2,979.00 Cr2,834.00 Cr3,217.00 Cr3,060.00 Cr3,432.00 Cr-4,760.16 Cr6,243.47 Cr7,939.88 Cr9,754.88 Cr
Shares Outstanding --------40.34 Cr40.34 Cr40.34 Cr40.34 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -746.00 Cr-1,003.00 Cr491.00 Cr65.00 Cr-96.00 Cr68.00 Cr-1,515.60 Cr683.75 Cr2,102.05 Cr-2,890.73 Cr
Investing Cash Flow -560.00 Cr493.00 Cr348.00 Cr417.00 Cr454.00 Cr348.00 Cr--149.66 Cr3,114.81 Cr-1,298.98 Cr1,209.23 Cr
Financing Cash Flow --119.00 Cr-245.00 Cr-608.00 Cr-126.00 Cr-605.00 Cr-160.00 Cr--217.99 Cr-448.50 Cr-736.16 Cr-737.91 Cr
Capital Expenditure --131.00 Cr-146.00 Cr-180.00 Cr-175.00 Cr-100.00 Cr-42.00 Cr--135.57 Cr-10.01 Cr-804.71 Cr-176.18 Cr
Free Cash Flow -615.00 Cr-1,149.00 Cr311.00 Cr-110.00 Cr-196.00 Cr26.00 Cr-1,380.03 Cr673.74 Cr1,297.34 Cr-3,066.91 Cr
Net Change in Cash -1,188.00 Cr-755.00 Cr231.00 Cr356.00 Cr-246.00 Cr257.00 Cr-1,147.95 Cr3,350.06 Cr66.91 Cr-2,419.41 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --------26.0%26.8%38.7%35.8%
Operating Margin % 5.3%4.3%2.6%2.4%4.3%4.0%4.1%-9.6%14.8%17.3%16.7%
Net Margin % 14.3%14.6%16.7%11.1%11.5%9.6%12.7%-14.8%21.4%21.1%19.9%
ROE % 18.7%22.6%19.6%17.5%16.5%15.4%15.0%-23.5%31.0%30.4%26.5%
ROCE % --------13.7%19.6%22.2%18.7%

Shareholding Pattern

Insiders
81.22%
Institutions
5.87%
Public Float
31.26%

Analyst View

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MAZDOCK — Frequently Asked Questions

What is the current share price of Mazagon Dock Shipbuilders Limited (MAZDOCK)?

As of 2026-07-15 09:52 IST, Mazagon Dock Shipbuilders Limited (MAZDOCK) trades at ₹2,379.40 on NSE. Its 52-week range is ₹2,065.20 to ₹3,242.82.

What is the market capitalisation of MAZDOCK?

Mazagon Dock Shipbuilders Limited (MAZDOCK) has a market capitalisation of ₹95,980.24 Cr on NSE.

What is the P/E ratio of MAZDOCK?

MAZDOCK trades at a trailing price-to-earnings (P/E) ratio of 37.15. The industry average P/E is 29.60. Its price-to-book (P/B) ratio is 9.94.

Does MAZDOCK pay a dividend?

Mazagon Dock Shipbuilders Limited (MAZDOCK) currently offers a dividend yield of 0.79%.

What is the return on equity (ROE) of MAZDOCK?

MAZDOCK has a return on equity (ROE) of 26.48%. Its return on capital employed (ROCE) is 28.51%.

Is MAZDOCK a good stock to buy?

This page provides a data-driven analysis of Mazagon Dock Shipbuilders Limited (MAZDOCK), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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