Mazagon Dock Shipbuilders’ share price witnessed a sharp decline of 5.5% on Monday, 3rd February 2025, extending its fall from Budget Day, when it dropped nearly 5%. This movement comes despite an increase in India’s defence budget, raising questions about investor sentiment towards the company.
Defence Budget Allocation: A Key Factor
As per Budget documents, the defence budget for FY26 has been raised by 9.5%, reaching ₹6.81 lakh crore. The breakdown includes:
- ₹1,92,387 crore for capital outlay
- ₹4,88,822 crore for revenue expenditure
- ₹1,60,795 crore allocated for pensions
Capital Expenditure Breakdown
A substantial portion of the budget has been earmarked for:
- ₹48,614 crore – Aircraft & aero engines
- ₹24,390 crore – Naval fleet
- ₹63,099 crore – Other equipment
Procurement Challenges Impacting Sentiment
Despite the increase in budget, Expenditure Secretary Manoj Govil highlighted that the defence ministry may not be able to fully utilise the allocation due to the complex procurement process. This uncertainty may have contributed to the negative sentiment surrounding Mazagon Dock Shipbuilders’ stock.
Upcoming Financial Results Announcement
The company has scheduled a Board of Directors meeting on February 7, 2025, to review and approve the unaudited financial results for the quarter ending December 31, 2024.
Mazagon Dock Shipbuilders
Mazagon Dock Shipbuilders Limited, headquartered in Mumbai, is one of India’s leading shipbuilding companies. Its roots trace back to 1774, with a formal incorporation as a private limited company in 1934. The company was later taken over by the Indian Government in 1960, marking its rapid transformation into India’s premier warship-building yard.
Since its government acquisition, Mazagon Dock has built:
- 30 warships (including advanced destroyers and missile boats)
- 8 submarines
- 805 vessels for various applications, including cargo ships, passenger ships, supply vessels, and offshore structures
The company’s expertise spans warships, submarines, and support vessels, with modern technology integration and a diverse client base in India and overseas.
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