Mazagon Dock Shipbuilders Q4 Results: Shares jump 11% after 50% revenue growth, ₹12 dividend.
Mazagon Dock Shipbuilders, a state-owned ship manufacturer, impresses with a 50% revenue growth in the March quarter, accompanied by a significant surge in net profit and EBITDA.
Mazagon Dock Shipbuilders Ltd., the government-owned ship manufacturer, witnessed a remarkable surge in revenue, reporting a 50% growth in the March quarter compared to the corresponding period last year. The company's revenue stood at ₹3,103.6 crore, a substantial increase from ₹2,078.6 crore reported in the same quarter last year. During this period, the net profit more than doubled to ₹663 crore, up from ₹326 crore in the year-ago quarter.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter witnessed a significant increase to ₹525 crore, compared to ₹211 crore reported in the previous year. This surge in EBITDA led to an expansion of the EBITDA margin by nearly 700 basis points to 17%.
Furthermore, Mazagon Dock announced a final dividend of ₹12.11 per share, supplementing the interim dividend of ₹15.34 per share declared earlier in the financial year 2024. However, the final dividend is contingent upon approval from shareholders at the upcoming annual general meeting (AGM), the date of which is yet to be disclosed.
Upon approval, the dividend will be disbursed within 30 days of the AGM. As of the March quarter, the government remains the largest shareholder in Mazagon Dock, holding an 84.8% stake, while retail shareholders with capital of up to ₹2 lakh collectively possess a 9.29% stake in the company.
Mazagon Dock Shipbuilders' shares concluded the trading session 11.1% higher at ₹3,374.1, reflecting a year-to-date increase of 50%.
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