Mazagon Dock announces dividend, fixes record date; shares react

Shares of Mazagon Dock rose over 5% in the afternoon session today after the board of the firm approved an interim dividend of Rs 5 per share for financial year 2024-25. It fixed April, 16, 2025 as record date for the same.  The payment of 2nd Interim Dividend shall be completed on or before May 7, 2025.

The firm also said it logged a 14% rise in turnover in the last fiscal. Turnover rose to Rs 10,775.34 crore from Rs 9466.58 crore in the preceding fiscal.

"We wish to inform that Mazagon Dock Shipbuilders Limited (MDL) recorded a turnover of Rs. 10,775.34 Crores approx. (provisional and unaudited) for the financial year ended on 31 March 2025 (corresponding figure for the previous year was Rs 9466.58 crore," said Mazagon Dock.

In the current session, the defence sector stock gained over 5% to Rs 2,446.10. Mazagon Dock's market cap stood at Rs 96,206 crore on BSE.

Total 2.39 lakh shares of the firm changed hands amounting to a turnover of Rs 57.29 crore.

The defence stock has gained 701% in two years and risen 1964% in three years.

In terms of technicals, the relative strength index (RSI) of Mazagon Dock stands at 43.1, signaling it's trading neither in the overbought nor in the oversold zone. Mazagon Dock shares are trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.

Mazagon Dock Shipbuilders Ltd (MDSL) is a leading defence public sector undertaking shipyard under the Ministry of Defence (MoD). Mazagon Dock is primarily engaged in constructing and repairing warships and submarines for MoD and other types of vessels i.e. cargo ships, multipurpose support vessels, barges and border outposts, tugs, dredgers, water tankers, etc. for commercial clients.