1,100 per cent returns and Rs 39,000 crore order book: This multibagger ship building company signs letter of intent for manufacturing 10 ships!

Shares of the company gained more than 190 per cent in the last six months.

Mazagon Dock Shipbuilders Limited informed in the exchange filing that the company had signed a letter of intent with a European client for the construction of 6 firms and 4 optional units of 7500 DWT Multi-Purpose Hybrid Power Vessels.

The company has recently signed a non-financial Master Ship Repair Agreement (MSRA) with the US Government represented by NAVSUP Fleet Logistics Center (FLC) Yokosuka. This agreement is expected to open up voyage repairs of US Navy Ships at MDL.

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Mazagon Dock Shipbuilders Limited has reported strong Quarterly Results for the first quarter ended June 30, 2023 (Q1FY24). The revenue of the company for Q1FY24 stood at Rs 2172.76 crore which decreased by 2.58 per cent YoY. The company's operating profit stood at Rs 404.35 crore, growing 30.51 per cent YoY while the PAT of the company grew by 32.07 per cent YoY staying at Rs 286.62 crore.

Mazagon Dock Shipbuilders is one of India's leading shipbuilding yards, having evolved from a single-unit, small ship repair company to a multi-unit and multi-product company. It was incorporated as a private limited company in 1934. After its takeover by the government in 1960, MDL grew rapidly to become the premier war-shipbuilding yard in India.

Shares of the company have delivered multibagger returns of about 1,100 per cent in the last three years. The company has an order book of more than Rs 39,000 crore and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.