Mazagon Dock Shipbuilders Share Price Falls 3%, Ending 2-Day Winning Streak

On December 18, Mazagon Dock Shipbuilders’ share price traded 3.19% lower at ₹5,41.85 by 11:15 AM on the NSE. The stock opened at ₹5,288, lower than ₹5,311.25 at the previous close. Mazagon Dock Shipbuilders recorded a total gain of 9.31% over the last two days.

Upcoming Stock Split Details

Mazagon Dock Shipbuilders Ltd. a state-owned defence company has set December 27, 2024, as the record date for its upcoming stock split. This announcement follows a decision made during the company’s board meeting on October 22, 2024.

The company will split each share with a face value of ₹10 into two shares of ₹5 each. Shareholders who hold shares of Mazagon Dock in their demat accounts before the record date, December 27, 2024, will be eligible for the stock split.

This marks the first time in the history of Mazagon Dock that such a corporate action has been announced. While the company has previously issued dividends, it has never executed a stock split or issued bonus shares before.

Q2 FY25 Financial Highlights

The company reported a 75.7% year-on-year increase in its profit after tax, reaching ₹585 crore for the quarter ending September 2024, compared to ₹332.9 crore in the same period last year.

Revenue from operations for the quarter rose to ₹2,756.8 crore, reflecting a 50.8% YoY growth from ₹1,827.7 crore in the corresponding quarter of the previous financial year.

The company’s EBITDA saw a remarkable surge of 189.1% YoY, reaching ₹511 crore for the September quarter, up from ₹177 crore in the same quarter the previous year.

EBITDA margins also improved significantly, increasing by 886 basis points to 18.5%, compared to 9.7% in the same quarter of the prior year.

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