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Order-winning spree puts Mazagon Dock stock on the warpath
Mint Mumbai
|December 29, 2023
Warship building company Mazagon Dock Shipbuilders Ltd (MDSL) has been on an order-bagging spree of late. On 20 December the company signed a contract worth ₹1,600 crore with the Ministry of Defence – its third order win just this month.
MDSL is among the key beneficiaries of indigenisation in the defence sector and its robust order prospects are attracting investors, causing its stock to jump 188% just this year. The sharp rally has been driven by momentum in the Indian defence sector and the company's huge order backlog of ₹37,500 crore as of the end of September, which is nearly five times its FY23 revenue.
MDSL is in the running for a contract to build three P75 add-on Scorpene-class submarines – an estimated ₹250 billion opportunity. It is also eyeing an order for six units of P75(I) which is expected to be worth around ₹500 billion, he added.
Dit verhaal komt uit de December 29, 2023-editie van Mint Mumbai.
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