Mazagon Dock Shipbuilders Ltd. has received an order worth Rs 122 crore from the Maharashtra State Power Generation Co. or MAHAGENCO.
The Rs 122 crore order includes the supply, installation, and commissioning of an AI-based comprehensive infrasecure project at two of its facilities, according to an exchange filing on Thursday.
Earlier, in September, the warship manufacturer had bagged a contract of Rs 1,486.40 crore from Oil and Natural Gas Corp. The contract involves a pipeline replacement project that must be executed on an engineering, procurement, and construction reimbursable basis.
In August, Sanjeev Singhal, chairman and managing director of the Mumbai-based shipbuilder, told NDTV Profit in an exclusive interview that the company is gearing up to manage the substantial order inflows expected in the industry over the next few years.
The shipbuilding sector is projected to reach an order book of Rs 2 lakh crore within the next two years, distributed among the three major shipbuilders, Singhal said.
Mazagon Dock Shipbuilders Q1 Performance
Mazagon Dock reported an 8.48% rise in its revenue at Rs 2,357 crore in the first quarter of the financial year 2025, missing Bloomberg estimates at Rs 2,933 crore.
However, the company posted a 121.4% surge in net profit at Rs 696.1 crore in the April-June quarter, beating Bloomberg estimates of Rs 491 crore.
The submarine maker's earnings before interest, taxes, depreciation, and amortisation were at Rs 642.3 crore, indicating a 274% increase. The margins of the company expanded by 27.2% for the quarter ended Sept. 30.
Shares of Mazagon Dock closed 8.35% higher at Rs 4,428.35 apiece, compared to a 0.07% rise in the benchmark NSE Nifty.
The stock has risen 104.30% in the last 12 months and 94.15% year-to-date.
Of the four analysts tracking the company, two maintain a "buy" rating and two recommend a "sell," according to the Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 16.5%.
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