Mazagaon ships good Q4

Mazagaon Dock is a bright star today morning; opening almost 4% higher at Rs.830.80, it rose to hit an intraday high at Rs.842, up more than 5%. Its 52-week high is at Rs.936.85.

The stock price surged on the back of its very encouraging earnings posted for Q4FY23, which beat most estimates. The company reported a net profit at Rs.326 crore, which is more than double that of previous Q4 at Rs.159 crore.

This bottom line was clocked on a revenue of Rs.2078 crore, rise of 49% while other income rose 63% to Rs.211 crore.

EBITDA for the quarter was up 174% at Rs.211 crore while margins more than doubled from 5.5% to 10.1%.

The best part – it ended FY23 with a 37% growth in revenue at Rs.7827 crore, exceeding its own guidance and net profit rose 83% to Rs.1119 crore.

The company declared a total dividend of 15.96/share for FY23.