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About Mazagon Dock Shipbuilders
Mazagon Dock Shipbuilders Limited (Formerly known as Mazagon Dock Limited) was incorporated as a private limited company in February 1934 in Mumbai. In 1960, Mazagon Dock Shipbuilders Limited came directly under the Government of India (GoI) for the domestic production of warships for the Indian Navy. In 1972, the Company delivered its first frigate, INS Nilgiri and in 1984, it started working on submarine construction. Mazagon Dock also delivered the first Delhi class Destroyer under project P15 in 1992. In 2014, it delivered the first Kolkata class Destroyer under the project P-15A. In 2016, the Company inaugurated a new submarine section assembly workshop at Alcock Yard.
In recent times, the company has been investing in expanding its infrastructure, new partnerships as well as exploring new technologies like AI and solar power. For example, in November 2017, it entered into an agreement with Bharat Electronics (BEL), to establish a 150 MW grid-connected solar power plant at the land/ estate of the Ordnance Factory Board. The company completed trials for three major R&D projects through partnership with IIT Madras through their incubated start-ups belonging to the Tamil Nadu Corridor. Projects included building an AI-enabled weld inspection tool with computerised radiography and an AI-enabled Remotely Operated Vehicle (ROV) to detect and classify underwater images.
The Fuel Cell Electric Vessel (FCEV) launched on July 1, 2022. Mazagon Dock also completed the project on the capital dredging of the navigational channel from the Kanhoji Angre Wet Basin to the Offshore Container Terminal berth of MbPT, Mumbai Project work in Nov 2022.
Mazagon Dock Shipbuilders is one of India’s leading Defence Public Sector Undertaking Shipyards and is operated under the Ministry of Defence (MoD). The Company is primarily engaged in building and repairing ships, submarines and related engineering products.
Over the years, it has developed significant capabilities in building various types of combat ships for the Indian Navy. These include destroyers, submarines, frigates and missile boats, among others. It has also built other types of vessels, such as cargo and passenger ships, supply vessels, water tankers, dredgers, fishing trawlers, etc., for various clients across the world. The company has also fabricated and delivered Jackets, main decks of Wellhead Platforms, Process Platforms and Jack up Rigs, etc.
A large majority of their revenue comes from the construction of new ships. However, they also get additional revenue from the sale of base and depot spares as well as ship repair. As seen earlier, the company is investing increasingly in R&D in cooperation with academia, MSMEs and startups, especially in AI-enabled inspections. In the near future, it will be bidding to get projects on advanced corvettes, interceptor boats, etc.
The company does not have a subsidiary as of March 2023.
There is no record of recent acquisitions, rights issues, bonus shares or stock splits by the company.
The management has a positive view of the coming years as it expects the battle force ships market to be the fastest growing segment among sea-based defence equipment, growing at a CAGR of 10% during 2021-26. They also recognise that the Government. of India has remained committed to strengthen the Defence capabilities at all levels and particularly the Indian Navy, with the required Blue water capability to handle both symmetrical and asymmetrical threats.
Mazagon Dock Shipbuilders FAQs
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Is Mazagon Dock a Debt free Company?
No, Mazagon Dock is not a debt free company.
What is the main business of Mazagon Dock?
The main business of Mazagon Dock is to undertake the construction of warships and submarines at its Mumbai and Nhava facilities. It falls under the governance of the Ministry of Defence and is called ‘Ship Builder to the Nation.’
Who are the promoters of Mazagon Dock?
The main promoter of Mazagon Dock is the President of India with an 84.83% shareholding.