ICICI Direct: Mazagon Dock Shipbuilders IPO - Investment Rationale
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ICICI Direct Report
Mazagon Dock Shipbuilders Ltd. is a defence public sector undertaking under Ministry of Defence (MoD) with maximum capacity of approximately 40000 DWT (dead weight tons), engaged in construction, repair of warships and submarines for MoD.
It is India’s only shipyard to have built destroyers and conventional submarine for Indian Navy and one of the initial shipyards to manufacture corvettes in India.
It primarily operates in two divisions viz -
1. shipbuilding under which it is currently building four P15 B destroyers, four P-17A stealth frigates and
2. submarine and heavy engineering division under which it is currently building or in the process of delivering four Scorpene class submarine under transfer of technology from Naval group, France and a medium refit and life certification submarine.
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