Shares of Mazagon Dock Shipbuilders Limited (NSE:MAZDOCK) were trading at ₹2,663.50 on April 21, 2026, up ₹42.30 or 1.61% from the previous close of ₹2,621.20. The stock opened at ₹2,639.00 and moved within a range of ₹2,634.30 to ₹2,707.40 during the session. The volume traded stood at 15.68 lakh shares, with a traded value of ₹419.62 crore.
Defence sector stocks surged up to 6% as optimism grew over stronger India-Germany defence ties. The visit is expected to boost defence industrial collaboration, joint manufacturing, and technology transfer, supporting long-term growth prospects for Indian defence companies and reinforcing investor confidence in the sector.
Market Performance and Returns
The stock has delivered mixed returns across different time periods. It gained 6.73% in the last one week and 14.57% over one month. Year-to-date return stands at 7.51%. However, the stock declined 3.68% over one year. Over a longer horizon, returns remain significantly higher, with 619.38% gains in three years and 2,612.16% over five years.
Valuation and Trading Metrics
The company has a total market capitalisation of ₹1,07,412.03 crore, while free float market cap is ₹20,172.19 crore. The stock’s daily volatility is 2.90%, and annualised volatility stands at 55.40%. The deliverable quantity as a percentage of traded volume is 33.19%, indicating moderate investor participation.
Business and Operational Update
Mazagon Dock Shipbuilders operates as a government-owned defence shipyard under the Ministry of Defence. The company has delivered multiple warships and submarines for the Indian Navy, including destroyers, stealth frigates, and Kalvari-class submarines.
The company reported revenue from operations of ₹3,601 crore in Q3 FY26, compared to ₹2,929 crore in Q2 FY26. Profit after tax (PAT) stood at ₹837 crore in Q3 FY26. Operating margins were around 24% during the quarter.
Order Book and Projects
As of December 31, 2025, the company’s total order book stood at ₹23,758 crore. Key ongoing projects include P15B destroyers, P17A stealth frigates, Kalvari submarines, and offshore and engineering contracts. The company continues to execute defence-related contracts primarily for the Ministry of Defence.
Dividend and Financial Position
The company has maintained dividend distribution over recent years. For FY26, dividend declared stood at ₹544.56 crore, with ₹13.50 per share. The company operates with zero debt and has reported consistent profitability over multiple years.
Technical Summary
Mazagon Dock Shipbuilders (NSE:MAZDOCK) is trading near ₹2,662.00, up around 1.56%, and continues to remain above the 51-day SMA near ₹2,371.33, while the 14-day RSI near 67.50 points. Immediate support is placed in the ₹2,400.00–2,300.00 zone, while resistance is seen near the ₹2,800.00–3,000.00 range.
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Key Risks
- Dependence on defence contracts may affect revenue visibility over time.
- Delays in project execution can impact financial performance and margins.
- High volatility may lead to sharp price fluctuations in short term.
- Changes in government policies may influence order inflows and operations.
Summary
Mazagon Dock Shipbuilders stock rose 1.61% to ₹2,663.50 on April 21, 2026, with steady intraday movement. The company reported Q3 FY26 revenue of ₹3,601 crore and PAT of ₹837 crore. While short-term returns remain positive, one-year performance is slightly negative. The company maintains a defence-focused order book and continues project execution across shipbuilding and submarine segments.
FAQs
- What does Mazagon Dock Shipbuilders Limited do?
Mazagon Dock Shipbuilders Limited is a government-owned defence company that builds warships, submarines, and other naval vessels for India. - How has the stock performed recently?
The stock gained 6.73% in one week and 14.57% in one month, but declined 3.68% over one year. - What is the company’s current order book size?
The company reported an order book of ₹23,758 crore as of December 31, 2025, mainly from defence projects.