Mazagon dock share: The shares of Majgaon Dock Shipbuilders Limited saw a great rise in up to 9% on February 10. However, this speed could not remain intact. Currently, this stock is trading on BSE at a price of Rs 2241.45 with a gain of 0.43 per cent. After strong results in the third quarter, the company’s shares are trading on the green mark for the second consecutive day. With this speed, the company’s market cap has increased to Rs 90,415 crore. The 52-wheel high of the stock is Rs 2,929.98 and 52-wheel is Rs 898.55.
How to be the quarterly results of Mazagon Dock
In the December 2024 quarter, the income of the Majgaon dock shipbuilders increased by 33 per cent to ₹ 3143 crore annually, the credit goes to a strong examination. During this period, the company’s profit increased by 29% to ₹ 807 crore. The Ebita of Majgaon Dock rose 51.4% to ₹ 817 crore, while the margin increased from 23% to 300 basis points to 26% in the previous year.
The company received new orders worth ₹ 1,092 crore in this quarter. Brokerage firm ICICI Securities said, “The company’s order backlog remains strong, which is ₹ 34787 crore (3.06 times the income of the last twelve months). Shipbuilding in defense as well as commercial shipbuild The chances of new order are looking strong. “
Brokerage also said that the increase in the company’s revenue was largely in accordance with expectations. Experts were expected to be strong during the quarter. The company is currently undergoing maximum revenue recognition phase, especially in contracts such as P-75 submarine, P-17A frigate and P-15B destroying.
Mazagon Dock’s target price and brokerage opinion
Another global brokerage firm JP Morgan has increased its target price from ₹ 2124 to ₹ 2262, describing the company’s performance as better. However, the new order margin has alerted brokerage. JP Morgan has given a ‘neutral’ rating on stock. According to JP Morgan, the company’s December quarter performed margin better than expectations, in which big orders are coming. However, it said that the order book has stabilized and the margin on the new order may decrease.
Foreign brokerage stated that revenue growth has been strong, but it can be temporarily slower if there is a delay in getting large awards. Brokerage stated that orders for submarines and warships are generally big and they take a long time to complete. Two of the five analysts who covered Majgaon dock have rated ‘Buy’, and two others recommended ‘Hold’. In addition, one has suggested selling. According to analysts, it is likely to rise by about 22%.
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