Mazagon Dock Shipbuilders’ Net Profit Up 76% To Rs 585 Cr In Q2

Mazagon Dock Shipbuilders, a government-owned defence company, reported a strong performance in its September quarter results released on Tuesday, 5 November, with significant year-on-year growth across all metrics.

The company’s net profit rose by 76 per cent year-over-year to Rs 585 crore, while revenue increased by 51 per cent compared to the same quarter last year, reaching Rs 2,757 crore.

Quarterly EBITDA climbed to Rs 510 crore, up from Rs 176 crore in the prior-year period, with the EBITDA margin more than doubling to 18.5 per cent, compared to 9.6 per cent in the same quarter last year.

On 22 October, Mazagon Dock Shipbuilders announced a 1:2 stock split, where each Rs 10 share will be divided into two shares of Rs 5. Additionally, the company declared an interim dividend of Rs 23.19 per share, with a record date of 30 October 2024. Earlier this year, it had declared a final dividend of Rs 12.11 per share for FY 2024.

The stock split record date will be announced after obtaining shareholder approval via postal ballot, marking the company's first-ever stock split.

Following the results announcement, Mazagon Dock Shipbuilders shares surged, trading 3.5 per cent higher at Rs 4,164.9, though the stock remains 28 per cent below its July peak of Rs 5,860.