Mazagon Dock Shipbuilders share price
NSE: MAZDOCKBSE: 543237Industrial ManufacturingMid Cap
Mazagon Dock Shipbuilders Limited · Face value ₹5 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Oct 2020 · Issue price ₹145
Last close ₹1,705.30down ₹57.40 (3.26%)BSE ₹1,705.00
Share price at the NSE close on 30 Oct 2026. Previous close ₹1,762.70.
30 Oct: open ₹1,764.00, high ₹1,765.60, low ₹1,703.00
52-week range of traded prices to 30 Oct 2026
₹1,687.50Low, 27 Oct 2026₹2,848.00High, 20 Nov 2025
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹68,788 Cr112th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- Earlier quarters restated in the year
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 6.58
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 1.06%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 17.2%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.08
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 10,10,92731.2% delivered
About Mazagon Dock Shipbuilders
Mazagon Dock Shipbuilders Limited builds and repairs naval ships, submarines and other vessels at its shipyard in Mumbai, mainly for the Indian Navy and the Indian Coast Guard.123 It also builds commercial vessels and has built offshore platforms and rigs for oil and gas exploration.4 It is the only Indian shipyard that builds both destroyers and conventional submarines for the Indian Navy, the company says.4
It is organised into a shipbuilding division and a submarine and heavy engineering division, both in Mumbai.3 Besides building vessels, it offers repairs and refits, design of warships and commercial ships, technology transfer and training, and makes equipment for the marine and oil and gas industries.5 Its subsidiary Colombo Dockyard PLC, a shipyard in Sri Lanka listed on the Colombo Stock Exchange, builds and repairs ships for defence and commercial clients.67 It also holds 47.21% of Goa Shipyard Limited, an associate company (one in which it holds a large minority stake).68
The yard began as a small dry dock in 1774, was incorporated as a private limited company in 1934, was taken over by the Government of India in 1960 and listed on BSE and NSE in October 2020.9 It received Navratna status, which gives a state-owned company more financial freedom, in June 2024, the first government-owned shipyard to do so.10 The Government of India, its promoter, held 81.22% of the shares at 31 March 2026, after selling 3.61% through an offer for sale (a sale of existing shares to the public) in April 2025.1112
Mazagon Dock Shipbuilders key points
Results
- Consolidated revenue from operations, including Colombo Dockyard PLC from the date control was acquired, was ₹13,006 crore in the year to Mar 2026, and profit attributable to shareholders was ₹2,583 crore, against ₹2,414 crore a year earlier, up 7%.1314
- On a standalone basis, revenue from operations rose 12.31% to ₹12,839.64 crore and profit after tax rose 4.77% to ₹2,435.77 crore in the year to Mar 2026.15
Revenue mix
- Main lines of standalone revenue161718Exports were 0.21% of standalone revenue from operations.
Item year to Mar 2026 year to Mar 2025 Ship construction ₹8,30,819 lakh ₹8,38,543 lakh Sale of stock-in-trade ₹1,77,459 lakh ₹1,22,816 lakh Offshore projects ₹1,62,774 lakh ₹1,00,964 lakh Ship repair ₹1,03,201 lakh ₹54,704 lakh
Plants and capacity
- Mazagon Dock has the capacity to build 11 submarines and 10 warships, up from 6 and 8 before its modernisation programme, the company says.1920
- The shipbuilding yard has 3 dry docks, 9 slipways (sloping platforms where ships are built and launched) and a 300-tonne Goliath crane; the submarine division has its own dry dock and 2 independent submarine assembly and launch lines.1921
- Mazagon Dock had 34 vessels under active construction at the end of the year to Mar 2026.22
Order book
- The order book (orders received but not yet delivered) stood at ₹1,82,180 million on 30 June 2026.23
- As of its annual report for the year to Mar 2026, Mazagon Dock was building 21 Indian Coast Guard vessels: 1 training ship, 6 next-generation offshore patrol vessels and 14 fast patrol vessels, worth ₹2,991 crore in all.24
- An export order from Navi Merchants A/S, Denmark, for 6 multi-purpose hybrid-powered vessels of 7,500 DWT (deadweight tonnes, the weight a ship can carry) is valued at $85 million (₹715 crore), with an option for 4 more.25
- The company says it has secured 3 orders from ONGC for offshore oil and gas work; jackets and topsides (the support structures and decks) of offshore platforms for ONGC's DSF II project are being built at its Nhava yard.2621
Customers and partners
- Mazagon Dock built all 6 Scorpene submarines under a technology transfer agreement with Naval Group, France, and has signed an exclusive memorandum of understanding (MoU, a non-binding agreement) with Naval Group to offer an evolved Scorpene to a friendly foreign nation.2728
- In a press release of 28 Oct 2025, the company said it had signed an exclusive teaming agreement (to bid and build together) with Swan Defence and Heavy Industries Limited for landing platform docks (large ships that carry troops and vehicles) for the Indian Navy.29
Research and development
- R&D spending was ₹186.72 crore in the year to Mar 2026, equal to 7.67% of profit after tax.30
- Its development programmes include a midget submarine, aimed at designing an Indian conventional submarine, a lithium-ion battery for submarines and a fuel-cell electric vessel for inland waterways.31
- Indigenous content (the share of a ship made in India) rose from 42% in the P15 Delhi class destroyers to 75% in the P17A Nilgiri class frigates, and 116 major systems and components have been indigenised.32
Expansion and capital spending
- Capital expenditure was ₹471.81 crore in the year to Mar 2026, on crane replacement, the Nhava yard, a new 12,000-tonne floating dry dock and other yard work, all funded from operating cash flows.33
- The company stated in its annual report for the year to Mar 2026 that full development of its 37-acre greenfield (new-site) yard at Nhava is targeted by 2031.34
- The company stated in its annual report for the year to Mar 2026 that its 15-acre South Yard Annex, Mumbai Port Authority land acquired on 1 April 2024, is expected to raise waterfront handling capacity from 80 DWT to 200 DWT.3536
Recent events
- In its exchange filing of 4 Sep 2026, the company said Maharashtra State Electricity Transmission Co. Ltd. had placed an order worth ₹1,17,99,71,564.90, including GST, for an AI-based Comprehensive Infrasecure Project at 5 substations, to be completed in 24 months.37
- INS Mahendragiri, the fourth P17A Nilgiri-class stealth frigate, was delivered on 30 April 2026 and commissioned into the Indian Navy on 11 Jul 2026; it was built in 21% less time than the first ship of the class.3839
- Mazagon Dock took control of Colombo Dockyard PLC on 19 Jan 2026 by subscribing to new shares for a 41.73% stake, and raised its holding to 51% by 27 Mar 2026; its investment was ₹236.95 crore.404142
- In its exchange filing of 18 Mar 2026, the company said it had contracted with Shipping Corporation of India to build a 3,000 DWT methanol dual-fuel platform supply vessel (a ship serving offshore oil platforms), worth about $39 million, India's first, the company says.4344
Last updated
All 44 sources, each with its page
- 1. Annual report, 4 Aug 2026, page 173
- 2. Investor presentation, 23 Sep 2026, page 6
- 3. Annual report, 4 Aug 2026, page 42
- 4. Annual report, 4 Aug 2026, page 20
- 5. Investor presentation, 23 Sep 2026, page 21
- 6. Annual report, 4 Aug 2026, page 68
- 7. Annual report, 4 Aug 2026, page 46
- 8. Investor presentation, 23 Sep 2026, page 6
- 9. Investor presentation, 23 Sep 2026, page 6
- 10. Annual report, 4 Aug 2026, page 20
- 11. Annual report, 4 Aug 2026, page 284
- 12. Annual report, 4 Aug 2026, page 62
- 13. Annual report, 4 Aug 2026, page 34
- 14. Annual report, 4 Aug 2026, page 34
- 15. Annual report, 4 Aug 2026, page 34
- 16. Annual report, 4 Aug 2026, page 208
- 17. Annual report, 4 Aug 2026, page 208
- 18. Annual report, 4 Aug 2026, page 208
- 19. Investor presentation, 23 Sep 2026, page 15
- 20. Investor presentation, 23 Sep 2026, page 16
- 21. Annual report, 4 Aug 2026, page 42
- 22. Annual report, 4 Aug 2026, page 8
- 23. Investor presentation, 23 Sep 2026, page 19
- 24. Annual report, 4 Aug 2026, page 62
- 25. Annual report, 4 Aug 2026, page 62
- 26. Investor presentation, 23 Sep 2026, page 6
- 27. Investor presentation, 23 Sep 2026, page 14
- 28. Annual report, 4 Aug 2026, page 62
- 29. Exchange filing, 28 Oct 2025, page 2
- 30. Annual report, 4 Aug 2026, page 8
- 31. Investor presentation, 23 Sep 2026, page 22
- 32. Investor presentation, 23 Sep 2026, page 18
- 33. Annual report, 4 Aug 2026, page 34
- 34. Annual report, 4 Aug 2026, page 64
- 35. Annual report, 4 Aug 2026, page 138
- 36. Annual report, 4 Aug 2026, page 42
- 37. Exchange filing, 4 Sep 2026, page 1
- 38. Exchange filing, 11 Jul 2026, page 2
- 39. Annual report, 4 Aug 2026, page 14
- 40. Annual report, 4 Aug 2026, page 276
- 41. Exchange filing, 27 Mar 2026, page 1
- 42. Annual report, 4 Aug 2026, page 34
- 43. Exchange filing, 18 Mar 2026, page 1
- 44. Annual report, 4 Aug 2026, page 22
Results
Consolidated; ₹ crore.Mazagon Dock Shipbuilders quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +8.1%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- –
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹2,446 Crdown 16.88%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹346 Crdown 37.07%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 14.2%
Revenue by quarter
Peak revenue ₹3,850 Cr, quarter to Mar 2026; lowest ₹2,446 Cr, quarter to Sep 2026
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,144 | 3,174 | 2,626 | 2,929 | 3,601 | 3,850 | 2,943 | 2,446 |
| Net profit | 807 | 325 | 452 | 749 | 880 | 674 | 550 | 346 |
| Net margin | 25.7% | 10.2% | 17.2% | 25.6% | 24.4% | 17.5% | 18.7% | 14.2% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹13,006 Crup 13.77%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹2,578 Crup 6.83%
- Net margin
- 19.8%
Revenue by year
Peak revenue ₹13,006 Cr, year to Mar 2026; lowest ₹4,048 Cr, year to Mar 2021
Net profit by year, a loss in red
| ₹ crore | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Revenue | 4,048 | 5,733 | 7,827 | 9,467 | 11,432 | 13,006 |
| Net profit | 514 | 611 | 1,119 | 1,937 | 2,414 | 2,578 |
| Net margin | 12.7% | 10.7% | 14.3% | 20.5% | 21.1% | 19.8% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Valuation
Today, against the company's own history. Not shown, P/E: a results filing in the last twelve months restated the quarters before it inside its year to date, so the four quarters as the company reported them do not add to a twelve-month profit; the ratio returns once the trailing year no longer holds a quarter from before the restatement.Mazagon Dock Shipbuilders PE ratio and valuation
Price to book
At or below today's level on 34% of 1,240 trading days over the last 5 years.
LowestHighest
Its median8.81Industry median2.58
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 65% of 1,240 trading days over the last 5 years.
LowestHighest
Its median0.81%Industry median0.44%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −21.0% | +7.0% | −27.0% | 0.9% |
| 3 years | +85.0% | +32.2% | +39.2% | 1.0% |
| 5 years | +82.9% | +38.1% | +31.1% | 1.8% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 5 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2021.
Mutual fund holdings
137 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 108 of the 111 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 137 funds holding Mazagon Dock Shipbuilders
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 1
- AddedAdded. Funds that held more shares than at the end of the month before.
- 64
- CutCut. Funds that held fewer shares than at the end of the month before.
- 47
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 24
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 12
| Fund | |||
|---|---|---|---|
 HDFC Defence FundHDFC Mutual Fund | 17,25,149 | 3.17% | ₹364.5 Cr |
 Motilal Oswal Nifty India Defence Index FundMotilal Oswal Mutual Fund | 10,24,469 | 3.98% | ₹216.5 Cr |
 ICICI Prudential Nifty Next 50 Index FundICICI Prudential Mutual Fund | 3,02,989 | 0.66% | ₹64.0 Cr |
 Nippon India ETF Nifty Next 50 Junior BeESNippon India Mutual Fund | 2,69,178 | 0.66% | ₹56.9 Cr |
 Aditya Birla Sun Life Nifty India Defence Index FundAditya Birla Sun Life Mutual Fund | 2,65,681 | 3.98% | ₹56.1 Cr |
| Motilal Oswal Nifty India Defence ETFMotilal Oswal Mutual Fund | 2,42,946 | 3.98% | ₹51.3 Cr |
 UTI Nifty Next 50 Index FundUTI Mutual Fund | 2,26,937 | 0.66% | ₹48.0 Cr |
 Edelweiss Balanced Advantage FundEdelweiss Mutual Fund | 1,57,318 | 0.26% | ₹33.2 Cr |
| Nippon India Multi Asset Allocation FundNippon India Mutual Fund | 1,46,360 | 0.17% | ₹30.9 Cr |
 ITI Small Cap FundITI Mutual Fund | 1,11,989 | 0.65% | ₹23.7 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Mazagon Dock Shipbuilders competitors and peers
Industrial Manufacturing, 201 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to Mazagon Dock Shipbuilders in market cap.Capital goods stocks
Mazagon Dock Shipbuilders is not on the chart: it has no P/E or return on equity today
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| INDO-MIMINDOMIM | 57,933 | – | – | – | – | – | – | 0.00% |
 Aditya InfotechCPPLUS | 46,739 | 97.72 | 24.90 | – | – | 25.5% | 32.7% | 0.04% |
 Syrma SGS TechnologySYRMA | 31,406 | 74.49 | 10.33 | +62.4% | +83.0% | 14.4% | 14.9% | 0.09% |
 Cochin ShipyardCOCHINSHIP | 29,312 | 43.10 | 4.99 | −1.4% | −19.1% | 11.9% | 9.1% | 0.81% |
 Zetwerk Manufacturing BusinessesZETWERK | 27,623 | – | – | – | – | – | – | 0.00% |
 Honeywell Automation IndiaHONAUT | 26,074 | 46.12 | 5.59 | +5.3% | +9.5% | 12.8% | 13.0% | 0.37% |
 Kaynes Technology IndiaKAYNES | 21,047 | 60.90 | 4.43 | +34.9% | +8.7% | 9.1% | 8.5% | 0.00% |
 Jyoti CNC AutomationJYOTICNC | 20,595 | 64.02 | 10.29 | +17.4% | −4.4% | 17.4% | 16.9% | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Mazagon Dock Shipbuilders dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹18.12 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 3 Nov 2026 | Interim | ₹5.00 |
| 20 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹4.62 |
| 13 Feb 2026 | Interim | ₹7.50 |
| 4 Nov 2025 | Interim | ₹6.00 |
| 19 Sep 2025 | Final | ₹2.71 |
| 16 Apr 2025 | Interim | ₹3.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Mazagon Dock Shipbuilders announcements
Oct 2026
27 Oct · Corporate action
27 Oct · Giving guarantees/indemnity/ becoming a surety for third party
2 Oct · Rumour Verification - Regulation 30(11)
Mazagon Dock Shipbuilders share price by year
Each calendar year to 2025.Mazagon Dock Shipbuilders share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 2,490.20 | +11.8% | 3,751.20 | 1,961.75 |
| 2024 | 2,227.80 | +95.3% | 2,872.23 | 919.85 |
| 2023 | 1,140.45 | +187.6% | 1,171.18 | 312.08 |
| 2022 | 396.58 | +184.5% | 457.00 | 113.30 |
| 2021 | 139.40 | +27.6% | 155.98 | 96.35 |
| 2020 | 109.23 | – | 110.98 | 82.90 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2020 is from its first session, 12 Oct 2020.
Recent sessions
The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 29 Oct 2026 | 1,733.00 | 1,766.90 | 1,720.20 | 1,762.70 | 1,741.97 | 11,45,656 | 38.8% |
| 28 Oct 2026 | 1,694.90 | 1,776.00 | 1,690.60 | 1,732.80 | 1,737.44 | 25,70,290 | 22.9% |
| 27 Oct 2026 | 1,890.00 | 1,935.60 | 1,687.50 | 1,754.00 | 1,765.99 | 41,40,251 | 14.6% |
| 26 Oct 2026 | 1,860.00 | 1,904.00 | 1,838.00 | 1,875.00 | 1,875.92 | 6,86,169 | 23.1% |
| 23 Oct 2026 | 1,915.00 | 1,918.10 | 1,845.00 | 1,860.00 | 1,867.44 | 7,19,787 | 33.6% |
| 22 Oct 2026 | 1,940.00 | 1,945.00 | 1,865.00 | 1,922.30 | 1,906.40 | 17,57,233 | 18.9% |
| 21 Oct 2026 | 2,052.00 | 2,059.70 | 1,982.20 | 1,997.50 | 2,008.70 | 4,37,217 | 41.8% |
| 19 Oct 2026 | 2,090.00 | 2,092.00 | 2,050.00 | 2,052.00 | 2,067.98 | 2,90,592 | 36.9% |
| 16 Oct 2026 | 2,105.00 | 2,115.50 | 2,088.00 | 2,092.00 | 2,099.98 | 3,18,701 | 33.7% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 27 Dec 2024 | Split | 0.5000 | Each share became 2. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.
Company details
- NSE symbol
- MAZDOCK
- BSE code
- 543237
- ISIN
- INE249Z01020
- Industry
- Industrial Manufacturing
- Website
- www.mazagondock.in
- CIN
- L35100MH1934GOI002079
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1934
- Registered office
- Dockyard Road, Mumbai 400010, Maharashtra
- Share registrar
- Alankit Assignments Ltd
- Keeps the register of shareholders and handles transfers and dividend payments
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