Mazagon Dock Shipbuilders share price delivered exceptional returns over the last 5 years. The stock rose from about ₹100.58 in April 2021 to around ₹2,618 in April 2026, giving nearly 2502% returns.
This means an investment of ₹1 lakh 5 years ago would now be worth close to ₹26 lakh. The company currently has a market capitalisation of about ₹1.05 lakh crore and trades at a P/E ratio of around 44, which is close to the industry average.
Mazagon Dock Shipbuilders is a government-owned defence company based in Mumbai and works under the Ministry of Defence. It mainly builds warships and submarines for the Indian Navy and also handles ship repairs and offshore engineering projects.
The company has delivered many vessels such as destroyers, frigates and submarines, making it one of India’s most important shipyards. Its revenue is largely supported by long-term government contracts, which provide strong order visibility.
The company has advanced shipbuilding and submarine facilities. Its infrastructure includes dry docks, wet basins, slipways, heavy cranes, fabrication shops and advanced assembly units.
It also has dedicated facilities for submarine construction, allowing it to handle complex defence projects from start to finish.
Mazagon Dock works across naval, commercial and oil & offshore sectors.
Naval segment: destroyers, submarines, frigates, corvettes and patrol vessels.
Commercial segment: cargo ships, tankers, tugs, dredgers and passenger vessels.
Oil & offshore: offshore platforms, jack-up rigs and subsea pipeline projects.
This diversification highlights its strong engineering and fabrication capabilities.
As of December 2025, the company had an order book of about ₹23,758 crore, mainly from defence projects. Ongoing shipbuilding programmes like stealth frigates and Coast Guard vessels continue to provide steady revenue visibility.
The company also benefits from ship refit, upgrade projects and new opportunities in offshore sectors.
Read More: Top 10 Undervalued Stocks in April 2026: BSE, Zen Technologies and More.
Year-on-year growth:
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Mazagon Dock’s strong order book, government support, and rising defence spending have helped the stock deliver multibagger returns. With ongoing naval modernisation and steady financial growth, the company remains a key player in India’s defence manufacturing ecosystem.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Apr 26, 2026, 9:00 AM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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