Mazagon Dock Announces 60% Dividend; Turnover Up 14% to ₹10,775 Crore; 568% Return in Two Years.
Dividend: Defence sector giant Mazagon Dock Shipbuilders Ltd (MDL) has declared a second interim dividend of ₹3 per share for FY 2024-25. The company informed the stock exchange that the record date for this dividend is April 16, 2025, and the payment will be completed by May 7, 2025.
14% Growth in FY25; Turnover Exceeds ₹10,775 Crore
According to the company, Mazagon Dock's turnover increased by 14% to ₹10,775.34 crore in fiscal year 2024-25, compared to ₹9,466.58 crore in the previous year. These figures are preliminary and unaudited.
Significant Growth in Dividend and Share Price
Mazagon Dock's share has yielded a return of 568% in the last two years and 1964% in the last three years. However, it is currently trading approximately 21% below its 52-week high of ₹2,929. The stock is currently trading around ₹2,299 on the BSE.
Retail Investors Show Limited Enthusiasm in OFS
The recent Offer for Sale (OFS) received only 1,127 bids from retail investors, while 1.95 million shares were offered in this category. Retail interest was subdued due to the stock price falling to ₹2,319. Institutional investors bid ₹3,700 crore in the OFS.
Mazagon Dock Shipbuilders' Activities
MDL is a major Public Sector Undertaking (PSU) under the Indian Ministry of Defence, building and maintaining warships, submarines, cargo ships, tugs, and water tankers. The company plays a crucial role in strengthening India's maritime security.
