Angel Broking: Mazagon Dock Shipbuilders IPO - Investment Rationale
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Angel Broking Report
Mazagon Dock Shipbuilders Ltd. is India's 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.
Currently, Mazagon Dock has strong order book of around Rs 54,074 crore that provides revenue visibility for long-term.
Order book comprises of four P-15 B destroyers, four P-17A stealth frigates, repair and refit of a ship, four Scorpene class submarines and one medium refit and life certification of a submarine.
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