Mazagoan Dock Shipbuilders Ltd.
NSE: MAZDOCKMazagoan Dock Shipbuilders Ltd.: A 30-second snapshot
Mazagon Dock Shipbuilders (MAZDOCK) is a defence shipbuilding PSU trading at ₹2,437.8, with a trailing PE of 38.1 and a forward PE of 29.9, reflecting a 5-year earnings CAGR of 109% and ROE of 28.77%. The stock is 35% below its 52-week high and has declined 30.4% over the past 12 months, trading below both its 50-DMA (₹2,481) and 200-DMA (₹2,583). Q4 FY26 results (April 2026) showed profit doubling to ₹680 crore with a dividend declared, though the debt-to-equity of 4.48 is rising.
P/E
38.1
Forward P/E
29.9
ROE
+28.8%
Debt / Equity
4.48
Profit Margin
+19.9%
Div. Yield
+0.8%
5Y ROE > 15%
4/5
5Y FCF > 0
3/5
Quality
65/100
News
5 headlines · 1 positive · 0 negative
Mazagon Dock Q4 Results: Profit Doubles To Rs 680 Crore, Margins Quadruple; Dividend Declared - NDTV Profit
NDTV Profit
Mazagon Dock Q4 results expectations: Will it announce 2nd dividend in 6 months? Targets - Business Today
Business Today
Mazagon Dock Shipbuilders Q4 Results: Date, Dividend News, Share Price Trend And More - NDTV Profit
NDTV Profit
Number of shareholders of Mazagon Dock Shipbuilders Ltd. – NSE:MAZDOCK - TradingView
TradingView
These are top PSU dividend paying stocks in Q4 2026 - List | Do you own any? - Business Today
Business Today
Recent context
- ·Q4 FY26 results (April 30, 2026) showed profit doubling to ₹680 crore with margins described as quadrupling; a dividend was declared, making MAZDOCK a notable PSU dividend payer in Q4 2026 per Business Today.
- ·The stock has recovered 3.4% over the past 3 months even as the 1-year return is -30.4%, with price sitting in the ₹2,276–₹2,560 range bounded by the nearest support and resistance levels.
- ·News flow over the past 30 days is limited to 5 articles, all clustered around Q4 results; no governance, regulatory, or contract-award news appears in the current sample.
Strengths
- +ROE of 28.77% ranks 1st among peers with available data (BEL: 27.56%, L&T: 16.95%, CGPOWER: 19.56%), with 4 of available years above the 15% threshold.
- +5-year earnings CAGR of 109% and revenue CAGR of 21.3% reflect a defence-order pipeline with multi-year execution visibility characteristic of government-contracted shipbuilders.
- +Forward PE of 29.9 represents a 21.6% compression from the trailing PE of 38.1, suggesting earnings estimates embed continued growth in the near term.
- +Quality score of 50 ranks 1st among the 6-peer infrastructure group, ahead of BEL (49), ABB (47), CGPOWER (45), and L&T (26).
Weaknesses
- −Price is 35% below the 52-week high and 30.4% lower over 12 months, with resistance clustering at ₹2,560–₹2,599 less than 6% above current price — a zone that has not been cleared.
- −Debt-to-equity of 4.48 is rising, with FCF positive in only 3 of available years, indicating the balance sheet is under sustained pressure that the 19.86% profit margin does not fully offset.
- −Trailing PE of 38.1 sits below the sector range (ABB at 90, CGPOWER at 110.8, BEL at 49.9) but above L&T (33.5); a de-rating from what were likely higher multiples is embedded in the 12-month price decline.
- −Analyst coverage is thin at 9 analysts with a mean rating of 2.33 on the 1–5 scale (lower = more constructive), offering limited institutional consensus depth relative to larger defence peers.
Open questions
- ?Does the D/E of 4.48 reflect advance payments from the government on long-cycle shipbuilding contracts, or is it structural leverage that persists after delivery milestones are met?
- ?How much of the 5-year earnings CAGR of 109% is attributable to order-book normalisation post-COVID versus a durable change in MAZDOCK's competitive position or order intake rate?
- ?At what order-book-to-revenue multiple is MAZDOCK currently operating, and how does contract execution risk change if government defence capital expenditure is deferred?
- ?Does the 35% drawdown from the 52-week high reflect a broad re-rating of defence PSU multiples or factors specific to MAZDOCK's execution, contract pipeline, or balance sheet?
Peer comparison: Infrastructure
Ranks 1 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| MAZDOCK | Mazagoan Dock Shipbuilders Ltd.You're viewing | 38.1 | +28.8% | 50 |
| Industry avg | across 5 peers | 70.2 | +21.4% | 38 |
| BEL | Bharat Electronics Ltd. | 49.9 | +27.6% | 49 |
| ABB | ABB India Ltd. | 90.0 | — | 47 |
| CGPOWER | CG Power and Industrial Solutions Ltd. | 110.8 | +19.6% | 45 |
| LT | Larsen & Toubro Ltd. | 33.5 | +16.9% | 26 |
| CUMMINSIND | Cummins India Ltd. | 66.7 | — | 24 |
Technical state
Current price
₹2,437.80
SMA 50
₹2,481.91
SMA 200
₹2,582.98
RSI (14)
41.3 (neutral)
From 52w high
-35.0%
1Y return
-30.4%
3M return
+3.4%
50-DMA
Below
200-DMA
Below
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- mediumDebt-to-equity of 4.48 with a rising debt trend is elevated for a defence/shipbuilding manufacturer; only 3 of available years show positive FCF, suggesting advance-payment cycles and capex are absorbing margin.
- mediumPrice is 35% below its 52-week high and trades below both the 50-DMA (₹2,481) and 200-DMA (₹2,583); down 30.4% over 12 months while RSI sits at 41.3, near but not at oversold territory.
- lowNews sample is sparse at 5 articles, heavily concentrated around late-April Q4 results; non-results-period news flow is unrepresented, limiting confidence in the neutral sentiment reading.
- lowPeer 1-year price returns are null for all 5 peers, restricting return-based sector ranking entirely; PE and quality-score comparisons are available but ROE data is missing for two of five peers.
Cross-section contradictions
- 5-year earnings CAGR of 109% and ROE of 28.77% (ranked 1st among peers with available data) contrast sharply with a stock down 30.4% over 12 months and 35% from its 52-week high, indicating the fundamental and price trajectories have diverged materially.
- D/E of 4.48 with a rising debt trend coexists with a 19.86% profit margin and a consistency score of 78/100, suggesting balance-sheet pressure beyond what margins alone explain — working-capital structure or advance-payment obligations may account for the gap.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 25 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 20 May 2026 · rotates through NIFTY 500 every ~5 days