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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Mazagon Dock Shipbuilders Ltd

About the Company - Mazagon Dock Shipbuilders Ltd

Mazagon Dock Shipbuilders Ltd. is a Public Limited Listed company incorporated on 26/02/1934 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L35100MH1934GOI002079 and registration number is 002079. Currently Company is involved in the business activities of Demolition & site preparation, Electrical, plumbing & other Specialized construction Activities. Company’s Total Operating Revenue is Rs. 5733.28 Cr. and Equity Capital is Rs. 201.69 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Ship - Docks/Breaking/RepairsDockyard Road, Mumbai Maharashtra 400010investor@mazdock.com
https://mazagondock.in
Management
NamePosition Held
Mr. Sanjeev SinghalChairman & Managing Director
Mr. Vasudev PuranikDirector
Mr. Biju GeorgeDirector
Mr. Jasbir SinghDirector
Mrs. Jagjeet Kaur Neeru SinghIndependent Director
Mr. Mallikarjunarao BhyrisettyIndependent Director
Mr. Dattaprasad KholkarIndependent Director
Mr. Anurag BajpaiGovernment Nominee Director

Mazagon Dock Shipbuilders Ltd. Share Price Update

Share PriceValue
Today₹2,180.00
Previous Day₹2,117.45

Basic Stock Data of Mazagon Dock Shipbuilders Ltd

Market Cap 41,370 Cr.
Current Price 2,051
High / Low2,492/612
Stock P/E27.5
Book Value 237
Dividend Yield0.77 %
ROCE38.2 %
ROE28.6 %
Face Value 10.0

Data Source: screener.in

Competitors of Mazagon Dock Shipbuilders Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Reliance Naval & Engineering Ltd 170 Cr. 2.302.92/1.61 2580.00 %%% 10.0
Industry Average170 Cr2.302580%0%0%10

Mazagon Dock Shipbuilders Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales1,1001,4611,1031,2141,5701,5521,3962,2301,7021,8162,0792,1731,828
Expenses1,0271,3691,0601,1441,4851,3511,3192,0571,5851,5201,8682,0011,651
Operating Profit739243708520277174118296211172177
OPM %7%6%4%6%5%13%6%8%7%16%10%8%10%
Other Income861092737496121129136169176232233261
Interest2222221111211
Depreciation18181717171723181818202020
Profit before tax138181297125162304182290267452421383416
Tax %38%18%22%26%19%28%20%25%25%25%24%25%25%
Net Profit8614923193131218145217200337318287313
EPS in Rs4.287.3711.434.606.5010.807.1910.769.9416.7215.7714.2115.52

Mazagon Dock Shipbuilders Ltd Quarterly Chart

Mazagon Dock Shipbuilders Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2,2782,3313,6194,1273,5304,4754,6144,9054,0485,7337,8277,895
Expenses2,0772,2223,4053,9103,4034,3254,3534,6423,8225,2917,0277,040
Operating Profit201109214217126149261263226442801855
OPM %9%5%6%5%4%3%6%5%6%8%10%11%
Other Income532547563760765612664600474420713901
Interest272044143636111596
Depreciation131531443950646960757679
Profit before tax6926397469298486978257586307731,4291,672
Tax %29%35%34%39%37%37%37%46%24%24%25%
Net Profit4944134925685334405174084805861,0731,255
EPS in Rs248.15207.19246.78285.38214.2519.6323.0820.2523.7829.0853.1962.22
Dividend Payout %20%24%20%18%37%56%19%53%30%30%30%

Mazagon Dock Shipbuilders Ltd Profit & Loss Yearly Chart

Mazagon Dock Shipbuilders Ltd Growth

Compounded Sales Growth
10 Years:13%
5 Years:12%
3 Years:17%
TTM:18%
Compounded Profit Growth
10 Years:10%
5 Years:19%
3 Years:37%
TTM:68%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:115%
1 Year:188%
Return on Equity
10 Years:%
5 Years:21%
3 Years:23%
Last Year:29%

Reliance Naval & Engineering Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital199199199199249224224202202202202202
Reserves1,3191,6152,2612,1242,3602,1982,5682,3802,7173,1203,9764,574
Borrowings82817900000301263
Other Liabilities22,75223,64828,40116,38416,36316,50217,63317,88321,67925,90424,70922,958
Total Liabilities24,35225,54430,94018,70718,97118,92520,42520,46524,62829,23728,89327,736
Fixed Assets1231262663685466468108368079651,0241,001
CWIP3878401709885898080876272
Investments666666666666
Other Assets24,18425,33430,62918,16418,32118,18719,52019,54223,73528,17927,80126,658
Total Assets24,35225,54430,94018,70718,97118,92520,42520,46524,62829,23728,89327,736

Mazagon Dock Shipbuilders Ltd Reserves and Borrowings Chart

Mazagon Dock Shipbuilders Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 288-1,00944265-9668-163858
Cash from Investing Activity 516494392417454348326508
Cash from Financing Activity -120-240-603-126-605-160-183-218
Net Cash Flow683-755231356-246257-191,148

Mazagon Dock Shipbuilders Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days476276817790117107876447
Inventory Days5,8755,3153,2395866875145416881,1421,044605
Days Payable8064331241511533244167041,234836366
Cash Conversion Cycle5,1164,9443,19051661128024191-4272285
Working Capital Days-617-735-573-571-604-428-445-311-606-645-528
ROCE %37%38%35%28%33%30%28%25%38%

Mazagon Dock Shipbuilders Ltd Financial Efficiency Indicators Chart

Mazagon Dock Shipbuilders Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters84.83%84.83%84.83%84.83%84.83%84.83%84.83%84.83%84.83%84.83%84.83%84.83%
FIIs0.62%0.70%0.67%0.92%1.82%2.06%2.47%3.05%3.29%3.29%3.29%3.69%
DIIs1.22%0.79%0.47%0.43%0.95%0.97%1.15%0.76%0.26%0.30%0.56%0.39%
Public13.33%13.68%14.04%13.83%12.40%12.14%11.55%11.35%11.62%11.57%11.31%11.10%
No. of Shareholders1,09,7541,06,7111,18,2961,22,4591,16,7391,18,3541,14,6351,19,2481,58,9871,64,1512,02,8723,08,372

Mazagon Dock Shipbuilders Ltd Shareholding Pattern Chart

No. of Mazagon Dock Shipbuilders Ltd Shareholders

Mazagon Dock Shipbuilders Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
SBI PSU Fund1630003.5432.81
Aditya Birla Sun Life PSU Equity Fund1192541.6124
Edelweiss Mid Cap Fund1086600.5121.87
ITI Small Cap Fund970021.0619.52
Invesco India PSU Equity Fund495681.79.98
Edelweiss Multi Cap Fund324490.566.53
Edelweiss Aggressive Hybrid Fund282890.545.69
Edelweiss Aggressive Hybrid Fund - Plan B282890.545.69
Motilal Oswal Nifty Midcap 150 Index Fund144990.262.92
Nippon India ETF Nifty Midcap 150128370.252.58

Mazagon Dock Shipbuilders Ltd ROCE Trend

Mazagon Dock Shipbuilders Ltd EPS Trend

Mazagon Dock Shipbuilders Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)55.4830.2925.4821.0723.75
Diluted EPS (Rs.)55.4830.2925.4821.0723.75
Cash EPS (Rs.)55.6131.6125.4422.1123.86
Book Value[Excl.RevalReserv]/Share (Rs.)236.01191.27170.15151.69143.55
Book Value[Incl.RevalReserv]/Share (Rs.)236.01191.27170.15151.69143.55
Revenue From Operations / Share (Rs.)388.08284.26200.69243.19205.89
PBDIT / Share (Rs.)73.6141.8939.5640.5138.00
PBIT / Share (Rs.)69.8638.2036.6137.1035.13
PBT / Share (Rs.)69.5537.1529.9436.0334.72
Net Profit / Share (Rs.)51.8727.9222.4818.7020.99
NP After MI And SOA / Share (Rs.)55.4830.2925.4823.3323.76
PBDIT Margin (%)18.9614.7319.7116.6518.45
PBIT Margin (%)18.0013.4318.2315.2517.06
PBT Margin (%)17.9213.0614.9114.8116.86
Net Profit Margin (%)13.369.8211.207.6810.19
NP After MI And SOA Margin (%)14.2910.6512.699.5911.54
Return on Networth / Equity (%)23.5015.8314.9715.3716.55
Return on Capital Employeed (%)26.4616.7916.9516.7017.02
Return On Assets (%)3.792.052.042.242.55
Asset Turnover Ratio (%)0.260.210.170.230.23
Current Ratio (X)1.081.051.061.101.11
Quick Ratio (X)0.770.740.770.810.88
Inventory Turnover Ratio (X)0.000.000.350.580.67
Dividend Payout Ratio (NP) (%)19.3329.4830.2146.1518.78
Dividend Payout Ratio (CP) (%)18.1126.2827.0740.2616.75
Earning Retention Ratio (%)80.6770.5269.7953.8581.22
Cash Earning Retention Ratio (%)81.8973.7272.9359.7483.25
Interest Coverage Ratio (X)233.07118.0195.4588.2493.82
Interest Coverage Ratio (Post Tax) (X)165.2281.6070.3343.0652.83
Enterprise Value (Cr.)92.69-6647.98-3739.980.000.00
EV / Net Operating Revenue (X)0.01-1.16-0.920.000.00
EV / EBITDA (X)0.06-7.87-4.690.000.00
MarketCap / Net Operating Revenue (X)1.710.841.060.000.00
Retention Ratios (%)80.6670.5169.7853.8481.21
Price / BV (X)2.811.251.250.000.00
Price / Net Operating Revenue (X)1.710.841.060.000.00
EarningsYield0.080.120.110.000.00

Mazagon Dock Shipbuilders Ltd Profitability Ratios (%)

Mazagon Dock Shipbuilders Ltd Liquidity Ratios

Mazagon Dock Shipbuilders Ltd Liquidity Ratios (%)

Mazagon Dock Shipbuilders Ltd Interest Coverage Ratios (%)

Mazagon Dock Shipbuilders Ltd Valuation Ratios

Fair Value of Mazagon Dock Shipbuilders Ltd Stock

Fair Value: ₹1878.36

The stock is overvalued by 8.42% compared to the current price ₹2051

*Investments are subject to market risks

Strength and Weakness of Mazagon Dock Shipbuilders Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 26.55%, which is a positive sign.
  2. The stock has a low average Working Capital Days of -551.18, which is a positive sign.
  3. The company has higher reserves (2,601.00 cr) compared to borrowings (24.42 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (4.08 cr) and profit (628.25 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 43.38 and average Dividend Yield of 16.39%.
  2. The stock has a high average Cash Conversion Cycle of 209.45, which may not be favorable.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Mazagon Dock Shipbuilders Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE