Following the LOI stage, Mazagon Dock Shipbuilders Limited (MDL) confirms finalizing individual shipbuilding contracts with the European client on April 30, 2024. These contracts detail the specific requirements for the construction of three 7,500 DWT Multi-Purpose Hybrid Powered Vessels. The agreement includes details like the design, building, and delivery schedule, with completion dates staggered between October 2026 and February 2027. The total value of the contract is approximately 42 million USD.
Mazagon Dock Shipbuilders Limited (MDL), Mumbai, established in 1774, is a prominent shipyard in India. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. It has constructed 801 vessels since 1960, including warships, submarines, cargo/passenger ships, and offshore platforms, built over 800 vessels including warships, submarines, frigates, and destroyers. MDL is currently building Nilgiri Class frigates and P15B destroyers and has delivered 5 submarines between 2017-2022. Their expertise extends to commercial vessels like merchant ships and oil rigs as well. In recognition of their achievements, MDL was awarded the Mini-Ratna -I status by the Dept. of Public Enterprises in 2022.
As of December 31, 2023, the company’s order book stands at Rs 38,389 crore and as of March 2024, DIIs have increased their stakes to 0.66 per cent from 0.43 per cent in December 2023. The company has a market cap of over Rs 47,000 crore. The stock gave multibagger returns of 200 per cent in just 1 year and a whopping 1,000 per cent in 3 years.