Mazagon Dock share up over 2% on delivering two warships to Indian Navy

The rise in Mazagon Dock share price came after the company announced that it has delivered two warships, Nilgiri and Surat, to Indian Navy

Mazagon Dock share price: Shares of Mazagon Dock inched higher in trade on Monday, December 23, 2024, as the stock rose up to 2.39 per cent to hit an intraday high of Rs 4,838.70 apiece.

 

The rise in Mazagon Dock share price came after the company announced that its has delivered two warships, ‘Nilgiri’ and ‘Surat’, to the Indian Navy. 

 

In an exchange filing, the company said, “Mazagon Dock Shipbuilders Limited (MDL) a Navratna CPSE has delivered the First Stealth Frigate of Project 17A Class Ship and the Fourth Stealth Destroyer of Project 15B Class Guided Missile Destroyer i.e. Yard 12707 (Surat) to the Indian Navy on Dec 20, 2024.”

 

 

Both the warships have been designed by the Indian Navy’s Warship Design Bureau, constructed by MDL and overseen by Warship Overseeing Team, Mumbai, Mazagon Dock said in a statement.

 

About Nilgiri, Surat warships

 

Nilgiri is the First of Class (FoC) ship of Project 17A, exemplifying cutting-edge advanced technology and standing comparable to the finest ships of its class worldwide. Designed indigenously by the Indian Navy’s Warship Design Bureau, New Delhi, Nilgiri incorporates innovative design features for enhanced survivability, sea-keeping, stealth, and maneuverability. The ship’s stealth characteristics are achieved through hull shaping and the use of radar-transparent deck fittings, making it highly challenging to detect.

 

Equipped with a comprehensive array of state-of-the-art weapons and sensors, Nilgiri is capable of countering enemy submarines, surface warships, anti-ship missiles, and fighter aircraft. It is armed with advanced guns for close-in defense and effective naval gunfire. The ship is designed to operate independently without support vessels and also serves as the flagship of a naval task force. 

 

On the other hand, Surat, the fourth ship of Project 15B, is a highly capable platform designed to execute a broad range of maritime warfare tasks and missions. It is armed with supersonic Surface-to-Surface ‘BrahMos’ missiles and ‘Barak-8’ Medium Range Surface-to-Air Missiles. 

 

For undersea warfare, the destroyer features indigenously developed anti-submarine weapons and sensors, including the Hull-Mounted Sonar Humsa NG, Heavyweight Torpedo Tube Launchers, and ASW Rocket Launchers.

 

Furthermore, Surat is more versatile than its predecessors in the destroyer and frigate classes, offering comprehensive capabilities against enemy submarines, surface warships, anti-ship missiles, and fighter aircraft. 

 

The ship is designed to operate independently without support vessels and serves as the flagship of a naval task force. Delivered to the Indian Navy ahead of schedule, Surat is one of the most combat-ready platforms to date, demonstrating MDL’s commitment to achieving global benchmarks.

 

With an indigenous content of 72 per cent, the P15B Class Destroyers represent a major step forward compared to their predecessors, P15A (59 per cent) and P15 (42 per cent). 

 

About Mazagon Dock 

 

Mazagon Dock Shipbuilders, established in 1774 and based in Mumbai, is one of India's leading shipbuilding firms. Since 1960, the company has launched 801 vessels, including a diverse range of warships, submarines, cargo and passenger ships, and offshore platforms.

 

MDL specialises in the defence sector, having constructed 802 vessels to date. This includes 28 warships, such as advanced destroyers and missile boats, as well as 7 submarines. The company's portfolio also includes Naval Platforms like Frigates, Destroyers, and Missile Boats, along with Merchant Ships and Oil Sector equipment such as Offshore Platforms and Jack-up rigs.

 

With an infrastructure capable of simultaneously handling 11 submarines and 10 warships, MDL has established a dedicated "Make in India" Department to focus on indigenisation. 

 

Approximately 75 per cent of the company's content is dedicated to warship construction, leveraging indigenous materials to significantly cut costs.

 

Mazagon Dock's headquarters is in Mumbai, serving the Western Naval Command of the Indian Navy. It operates several shipbuilding facilities, including the North Yard, South Yard, Nhava Yard, and Anik Yard, with a specialised Submarine Construction Yard at the East Yard. The Alcock Yard, situated above the North Yard, and additional land adjacent to the South Yard support various construction activities, including modular workshops for shipbuilding, cradle workshops for submarines, a Goliath Crane, and a Wet Basin.

 

The market capitalisation of Mazagon Dock Shipbuilders is Rs 94,453.44 crore, according to BSE. The company falls under the BSE 200 category. 

 

At 1:50 PM, shares of Mazagon Dock Shipbuilders were off highs and were trading 0.90 per cent lower at Rs 4,683.10 per share. By comparison, BSE Sensex was trading 0.40 per cent higher at 78,350.31 levels.