- MDL finalized a contract with a European client for the construction of three Multi-Purpose Hybrid Powered Vessels.
- The three vessels have 7,500-deadweight tonnage.
- The contract involves the design, construction, and delivery, with a defined timeline for execution.
Mazagon Dock Shipbuilders Ltd (MDL) finalized a contract in December, with a European client for the construction of three 7,500 DWT Multi-Purpose Hybrid Powered Vessels, valued at approximately $42 million, reports CNBC.
Vessel Specifications
The three vessels are set to be 7,500-deadweight tonnage (DWT) multi-purpose hybrid-powered, representing advanced technology in the maritime industry. The delivery schedule is structured, with the first vessel expected to be delivered 27 months after the contract becomes effective, followed by subsequent vessels every two months thereafter.
Financial Performance
In the September quarter, Mazagon Dock reported increased operational revenue of ₹1,827 crore compared to ₹1,702 crore from the same period last year. The net profit for the quarter surged to ₹332.9 crore, a notable rise from ₹213.9 crore in the corresponding period the previous year. Operating profit (EBITDA) also witnessed a significant uptick, rising by 50% year-on-year to ₹176.7 crore, with the EBITDA margin expanding by nearly 300 basis points to 9.7%.
Outlook and Guidance
The company maintained its revenue growth projection for the fiscal year 2024 at 12-15%, previously revised from 10-12% post its June quarter results. Shares of Mazagon Dock Shipbuilders Ltd concluded at ₹2,081.35, marking an increase of ₹9.30 or 0.45% on the BSE.
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Source: CNBC
