Mazagon Dock Shipbuilders Limited
₹1,705.00-₹57.00 (-3.2%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹1,00,154 Cr
- P/E
- 44.9x
- EV / EBITDA
- 37.0x
- Revenue
- ₹11,432 Cr
- Net margin
- 19.5%
- ROCE
- 25.3%
Price chart
Technical chartScreen technicals →-37.8% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -19.2%
- 3M
- -26.5%
- 6M
- -37.6%
- 1Y
- -37.8%
- 5Y
- +1,039.1%
52-week range
Day change -₹57.00 (-3.2%) from ₹1,762 to ₹1,705 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in MAZDOCK, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year net profit CAGR of 35.2%
Concerns1
- Other income is 46.2% of PBT — a large share of earnings is non-operating
Rule-based from financial data. Not advice.
About the company
Mazagon Dock Shipbuilders Limited engages in the building and repairing of ships, submarines, vessels, and related engineering products in India and internationally. The company operates in two segments, Shipbuilding, and Submarine and Heavy Engineering.
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Mazagon Dock Shipbuilders Limited engages in the building and repairing of ships, submarines, vessels, and related engineering products in India and internationally. The company operates in two segments, Shipbuilding, and Submarine and Heavy Engineering. The company offers naval platforms, such as destroyers, conventional submarines, frigates, corvettes, missile boats, offshore patrol vessels, and floating border outposts. It also provides merchant ships, such as general cargo vessels, multipurpose support vessels, offshore supply vessels, tugs, dredgers, passenger cum cargo vessels, water tankers, barges, trawlers, and windmill towers and pontoons. In addition, the company offers offshore platforms and jack-up rigs for the oil sector. Further, it offers training ships, next-generation offshore patrol vessels, and fast patrol vessels for coast guard ships. Additionally, the company provides AI products, including remotely operated vehicles, AI-enabled phased array ultrasonic testing, and AI-enabled computerized radiography. The company was formerly known as Mazagon Dock Limited and changed its name to Mazagon Dock Shipbuilders Limited in May 2015. Mazagon Dock Shipbuilders Limited was founded in 1774 and is based in Mumbai, India.
- Sector
- Industrials
- Shares outstanding
- 40.4 Cr shares
- ISIN
- INE249Z01020
- BSE code
- 543237
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹1,00,154 Cr
- P/E
- 44.9x
- P/B
- 12.4x
- EV / EBITDA
- 37.0x
- EV / Sales
- 10.0x
- P/S
- 10.6x
- Earnings yield
- 2.2%
- 52-week high
- ₹2,837.75
- 52-week low
- ₹1,705.00
Profitability
- Operating margin
- 15.0%
- Net margin
- 19.5%
- EBITDA margin
- 27.0%
- ROE
- 33.1%
- ROCE
- 25.3%
- ROA
- 6.4%
- Dividend payout
- 30.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 46.2%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹11,432 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 20.8%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 14.1%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2,554 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 68.7%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 26.0%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 35.2%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹684 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -54.9%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹67.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -0.4%
Solvency and efficiency
- Current ratio
- 1.20
- Debt / Equity
- 0.00
- Debt / Assets
- 0.00
- Debt / EBITDA
- 0.01
- Interest coverage
- 157.33
- Financial leverage
- 5.17
- CFO / Net profit
- 0.37
- Cash / Market cap
- 27.8%
- Cash per share
- ₹690.52
- Asset turnover
- 0.33
- Fixed asset turnover
- 11.30
- Capital intensity
- 0.09
- Debtor days
- 71 days
- Inventory turnover
- 0.89
- Cash conversion cycle
- 164 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹20 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹9,366 Cr |
| Sales | Operating profit | ₹2,066 Cr |
| Operating profit | Interest | ₹10 Cr |
| Operating profit | Depreciation | ₹115 Cr |
| Operating profit | Profit before tax | ₹1,941 Cr |
| Other income | Profit before tax | ₹1,169 Cr |
| Profit before tax | Tax and other | ₹784 Cr |
| Profit before tax | Net profit | ₹2,325 Cr |
Revenue and net profit
Revenue grew 20.8% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹4,048 Cr | ₹480 Cr |
| FY2022 | ₹5,733 Cr | ₹586 Cr |
| FY2023 | ₹7,827 Cr | ₹1,073 Cr |
| FY2024 | ₹9,467 Cr | ₹1,845 Cr |
| FY2025 | ₹11,432 Cr | ₹2,325 Cr |
Cash flows
FY2025: ₹2,078 Cr from operations, ₹779 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹68 Cr | ₹416 Cr |
| FY2022 | -₹163 Cr | ₹163 Cr |
| FY2023 | ₹1,516 Cr | ₹1,366 Cr |
| FY2024 | ₹684 Cr | ₹3,799 Cr |
| FY2025 | ₹2,078 Cr | ₹779 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹11,432 Cr+20.8%1Y
- Net profit
- ₹2,325 Cr+26.0%1Y
- Cash from operations
- ₹2,078 Cr
- Free cash flow
- ₹779 Cr-79.5%1Y
- Revenue CAGR, 5Y
- 14.1%
- EBITDA CAGR, 5Y
- 24.2%
- Net profit CAGR, 5Y
- 35.2%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹11,432 Cr | ₹2,066 Cr | — | ₹2,325 Cr | ₹2,078 Cr | ₹779 Cr | 32.4% | +20.8% | +26.0% |
Monthly returns
Month-by-month returns of MAZDOCK across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹28,045 Cr |
| Equity capital | ₹202 Cr |
| Reserves | ₹6,979 Cr |
| Borrowings | ₹20 Cr |
| Other liabilities | ₹20,844 Cr |
| Assets | ₹28,045 Cr |
| Fixed assets | ₹1,466 Cr |
| Capital work in progress | ₹133 Cr |
| Investments | ₹6 Cr |
| Other assets | ₹26,440 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
MAZDOCK trades at 44.9x earnings against a peer median of 38.3x (a 17% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Mazagon Dock Shipbuilders LimitedMAZDOCKthis companyP/E ↑ premium | ₹1.0 L Cr | 44.9x | 12.4x | 33.1% | 37.0x |
| Solar Industries India LimitedSOLARINDS | ₹1.1 L Cr | 121.0x | 32.8x | 25.4% | 128.6x |
| Polycab India LimitedPOLYCAB | ₹1.1 L Cr | 46.9x | 10.8x | 21.7% | 42.3x |
| Cummins India Ltd.CUMMINSIND | ₹1.1 L Cr | 49.5x | 15.0x | 27.0% | 47.0x |
| Ashok Leyland Ltd.ASHOKLEY | ₹1.1 L Cr | 32.0x | 9.5x | 29.7% | 22.9x |
| ABB India LimitedABB | ₹1.1 L Cr | 59.6x | 14.6x | — | — |
| Siemens Ltd.SIEMENS | ₹1.0 L Cr | 65.3x | 8.1x | — | — |
| Bharat Heavy Electricals Ltd.BHEL | ₹92,449 Cr | 171.0x | 3.7x | 1.0% | 69.4x |
| CG Power and Industrial Solutions LimitedCGPOWER | ₹91,571 Cr | 82.2x | 12.0x | 30.9% | 66.4x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
MAZDOCK since 1 January, against earlier years.
Historical volatility
MAZDOCK's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 6.0% |
| FY2022 | 8.0% |
| FY2023 | 10.0% |
| FY2024 | 15.0% |
| FY2025 | 18.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹11,432 Cr |
| Costs | |
| Interest | ₹10 Cr |
| Expenses | ₹9,366 Cr |
| Operating profitOperating Profit | ₹2,066 Cr |
| Other income and charges | |
| Profit before tax | ₹3,109 Cr |
| Tax | |
| Net profitNet Profit | ₹2,325 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹28,045 Cr |
| Equity capitalEquity Capital | ₹202 Cr |
| Reserves | ₹6,979 Cr |
| Borrowings | ₹20 Cr |
| Other liabilitiesOther Liabilities | ₹20,844 Cr |
| AssetsTotal Assets | ₹28,045 Cr |
| Fixed assetsFixed Assets | ₹1,466 Cr |
| Capital work in progressCWIP | ₹133 Cr |
| Investments | ₹6 Cr |
| Other assetsOther Assets | ₹26,440 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹2,078 Cr |
| Investing cash flowCash from Investing Activity | -₹1,299 Cr |
| Financing cash flowCash from Financing Activity | -₹712 Cr |
| Change in cashNet Cash Flow | ₹67 Cr |
Learn while you research
Academy chapters picked for Mazagon Dock Shipbuilders Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 44.9, learn when high multiples are justified.6 min read
- 04 Growth Investing21% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read