At the day’s high, the stock had a market capitalisation of ₹1.43 lakh crore, which made it more valuable than eight Nifty 50 stocks.
At ₹1.43 lakh crore, Mazagon Dock Shipbuilders was more valuable than Nifty 50 stocks like IndusInd Bank, Hero MotoCorp, Hindalco, Shriram Finance, Cipla, Tata Consumer Products, Dr. Reddy’s Laboratories and Apollo Hospitals.
| Stock | Market Cap (₹ Crore) |
| Mazagon Dock | 1.43 Lakh |
| Hindalco | 1.42 Lakh |
| Shriram Finance | 1.21 Lakh |
| Cipla | 1.18 Lakh |
| Tata Consumer | 1.1 Lakh |
| Dr. Reddy’s | 1.04 Lakh |
| Apollo Hospitals | 97,872 |
| Hero MotoCorp | 84,100 |
| IndusInd Bank | 62,344 |
Mazagon Dock shares had hit a record high of ₹3,775 on the day it reported its quarterly results on May 29. However, the stock dropped 10% in the next two trading sessions after the numbers were a miss on expectations.
The management in its earnings call had mentioned that margins during the quarter were impacted due to provisions for two of its projects, which were cumulatively valued at ₹3,500 crore.
For financial year 2026, Mazagon Dock expects revenue growth to be between 8% to 10% and its Profit Before Tax (PBT) margin to be at 15%.
Mazagon Dock also expects its order book to reach ₹1.25 lakh crore this year from the current ₹32,260 crore, provided it signs contracts for P75 additional submarines and the P75I submarines. The P75 submarines order, valued at ₹30,000 crore to ₹40,000 crore, is likely to be signed as early as next month, the management had said.
Brokerage firm Antique Stock Broking in a recent note increased its price target on Mazagon Dock to ₹3,858 from ₹3,433 earlier. It said that the medium-term outlook is strong for the company backed by a robust order pipeline, despite the near-term moderation in revenue growth.
The company also plans to double its capacity in the next few years, by earmarking a capex of up to ₹5,000 crore, Antique said.
Out of the six analysts that have coverage on Mazagon Dock, four of them have a “buy” rating, while two have a “sell” rating.
Shares of Mazagon Dock Shipbuilders are trading 0.6% higher on Wednesday, cooling off from the day’s high at ₹3,460. The stock is up 54% so far this year.
