Mazagon Dock Shipbuilders(MAZDOCK) Q3 Results 2024: Date and Time, Share Price and Target

News: Mazagon Dock Shipbuilders Limited (MAZDOCK), a prominent player in the shipbuilding industry, recently released its financial results for the third quarter of 2024. Let’s dive into the details of this significant update.

Recent Milestones

MAZDOCK continues to make waves with its recent achievements:

• Scorpene Submarine ‘VAGIR’: In December 2022, MAZDOCK delivered the fifth Scorpene-class submarine, ‘VAGIR,’ to the Indian Navy. This milestone reflects India’s commitment to self-reliance and the ‘Make in India’ initiative.
• Project 15B Destroyer ‘Mormugao’: The second ship of the Project 15B Class Guided Missile Destroyer, Yard 12705 (affectionately named ‘Mormugao’), was handed over to the Indian Navy in November 2022. These destroyers enhance our naval capabilities.

1. Impressive Profit Growth

• MAZDOCK witnessed a remarkable 77% year-on-year (YoY) growth in its consolidated net profit during Q3 2024.
• The net profit surged to ₹626.8 crore, a substantial increase from the ₹354 crore reported in the corresponding quarter of the previous year.

2. Revenue Surge

• The company’s revenue from operations also soared, registering a 30% YoY increase.
• During the reporting period, MAZDOCK’s revenue reached ₹2,362.5 crore, compared to ₹1,815.9 crore in the same period last year.

3. Operating Profit and Margins

• The EBITDA (operating profit) showed impressive growth, jumping by 82% YoY.
• In Q3 2024, the operating profit stood at ₹539 crore.
• The improved margins, now at 22.8%, reflect the company’s operational efficiency.

4. Stock Performance

• Investors responded positively to the news, with the stock closing 4.56% higher at ₹2,213.90 per share on the National Stock Exchange (NSE).

5. Share Price Targets

• Analysts have set varying price targets for MAZDOCK shares:
• For 2024, the price target ranges from a minimum of ₹2,500 to a maximum of ₹3,125 per share, with an average target of ₹2,813.
• However, it’s essential to note that some analysts predict a downside, with an average target price of ₹1,771.

Crafting Vessels for India and Beyond

MAZDOCK’s expertise lies in constructing a diverse range of vessels, both for domestic and international clients. Here are some highlights:

• Warships and Submarines: MAZDOCK proudly manufactures warships and submarines for the Indian Navy. These vessels play a crucial role in safeguarding our maritime borders.
• Offshore Platforms: In addition to naval vessels, MAZDOCK builds offshore platforms. These platforms serve as sturdy foundations for oil drilling operations in the vast oceanic expanses.
• Support Vessels: MAZDOCK’s fleet includes support vessels that assist in various maritime activities. From cargo ships to passenger vessels, these workhorses keep our seas bustling.

ISO/IEC 27001 Certification

MAZDOCK takes information security seriously. It is now an ISO/IEC 27001:2013 certified company, ensuring robust data protection practices.

Subscribe to Sarkari Result to stay informed. Get the latest celebrity news and detailed movie reviews in real-time. Keep up with the constantly changing world of entertainment with Sarkari Exam.

Collaborations and Innovations

At DefExpo 2022, MAZDOCK signed 24 MoUs with national and international firms. These collaborations focus on indigenized development, manufacturing of equipment, and innovative projects under the ‘Atma Nirbhar Bharat’ (self-reliant India) initiative.

MAZDOCK’s robust financial performance in Q3 2024 reflects its resilience and growth trajectory. Investors and stakeholders should closely monitor the company’s developments as it continues to navigate the dynamic maritime industry.

FAQs

Why are Mazagon Dock Shipbuilders Limited’s earnings for Q3 2024 important?

The Q3 2024 earnings of Mazagon Dock Shipbuilders Limited hold great importance for investors and financial experts. They give valuable insights into the company’s financial situation and plans, impacting how the market feels and what investors decide to do.

What gets discussed during Mazagon Dock Shipbuilders Limited’s board meetings?

In Mazagon Dock Shipbuilders Limited’s board meetings, they cover a range of topics. These include how well the company is doing financially, where they’re investing money, how they’re managing risks, how they’re governed, and what big plans they have for the future.

Who owns a big piece of Mazagon Dock Shipbuilders Limited?

The Government of India owns a big 84.83% chunk of Mazagon Dock Shipbuilders Limited. Since it’s a public sector company linked to the Ministry of Defence, the government has a major say in its operations.