Latest news with #CDPLC
Mint
28-07-2025
- Business
- Mint
Mazagon Dock Q1 Results LIVE: PSU defence company likely to post strong growth; stock dips ahead of earnings
Mazagon Dock Q1 Results LIVE: Defence PSU company Mazagon Dock Shipbuilders is set to announce its earnings late today. The company last week informed that its board is slated to meet today, July 28, to consider and approve the standalone and consolidated earnings for the April-June quarter. According to analysts, Mazagon Dock is expected to report positive quarterly numbers with a robust growth outlook, buoyed by strategic momentum in India's defence shipbuilding. Mazagon Dock Share Price Mazagon Dock share price was trading marginally lower ahead of the Q1 results announcement. However, the PSU stock has delivered multibagger gains to investors, surging over 1950% in just three years. Track this space for LIVE updates on Mazagon Dock Q1 results. Follow updates here: 28 Jul 2025, 12:39 PM IST Mazagon Dock Q1 Results LIVE: Seema Srivastava, Senior Research Analyst at SMC Global Securities, said Mazagon Dock Shipbuilders is likely to report positive quarterly numbers with a robust growth outlook, buoyed by strategic momentum in India's defence shipbuilding. 'The company recently initiated keel laying for its first Next Generation Offshore Patrol Vessel (NGOPV) for the Indian Coast Guard—highlighting its expanding technical capabilities with AI and drone integration, which is likely to support its earnings and margins,' she said. 'Earlier management projected mid single digit to low double digit revenue growth for FY26, alongside healthy profit before tax margins around 15% a signal of operational discipline and improved execution compared to FY25 After a challenging Q4 FY25 characterized by one off provisioning effects, Q1 is seen as a potential turning point for margin recovery and stabilization Investors will track order pipeline developments closely, particularly around submarine projects (P75 additional and P75I) and coastal patrol builds that support India's strategic maritime needs and forward margins,' Srivastava opined. 28 Jul 2025, 12:15 PM IST Mazagon Dock Q1 Results LIVE: Directors of Mazagon Dock Shipbuilders Limited considered and approved the acquisition of a controlling and substantial stake of Colombo Dockyard PLC (a company listed on Colombo Stock Exchange, Sri Lanka) by way of an investment not exceeding $52.96 million (i.e., approximately ₹ 452 crore considering prevailing exchange rate) in the securities of CDPLC through a combination of primary subscription and secondary acquisitions from the shareholders of CDPLC (including Onomichi Dockyard Co. Ltd), a majority shareholder of CDPLC. 28 Jul 2025, 11:56 AM IST Mazagon Dock Q1 Results LIVE: According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Mazagon Dock Shipbuilders' share price has witnessed a sharp correction over the past two months, sliding from 3700 to 2900. 'The momentum remains weak unless clear bullish reversal signs emerge. The next crucial support lies near 2750, which aligns with the golden Fibonacci retracement level and the May swing low. Given the oversold conditions, some respite could be expected around these levels. On the upside, 3050 remains a stiff resistance, coinciding with the 89 EMA and 20 DEMA,' Bhosale added. 28 Jul 2025, 11:38 AM IST Mazagon Dock Q1 Results LIVE: Mazagon Dock share price declined almost 1.5% in intraday trade on Monday. The defence PSU stock is expected to post a robust set of earnings, however, the weak Indian market sentiment kept sentiment for the scrip subdued. Mazagon Dock shares hit a low of ₹ 2844.10 on the BSE today. As of 11.37 am, the PSU stock was trading at ₹ 2856 apiece, down 1.06%. 28 Jul 2025, 11:27 AM IST Mazagon Dock Q1 Results LIVE: Mazagon Dock Shipbuilders board is set to meet today to consider and approve the unaudited earnings. "This is to inform, that a meeting of the Board of Directors of Mazagon Dock Shipbuilders Limited is scheduled on Monday, 28 July 2025, inter alia, to consider and approve the Unaudited Financial Results (Standalone & Consolidated) for the quarter ended on 30 June 2025," the company said in a filing on July 22.
Hindustan Times
04-07-2025
- Business
- Hindustan Times
Anchor at Colombo port, eyes on the Indian Ocean
On June 27, 2025, Mazagaon Dock Shipbuilders, an Indian public sector company under the ministry of defence, signed a tripartite agreement with which it would be acquiring a majority stake (51%) in Colombo Dockyard PLC (CDPLC). The $53-million deal gives India strategic control over the only dry dock in Sri Lanka, and entrenches its position in the strategic port. For more than a decade, India was concerned about China's docking of submarines and spy ships, and that country's expanding presence in Sri Lanka's critical infrastructure. Since 2014, India has pushed for connectivity in the region with its Neighbourhood First policy. In the case of Sri Lanka, the need for connectivity and presence in the port sector grew dire after the Hambantota Port was leased to China for 99 years in 2017. The crisis in Sri Lanka, offered an opportunity for India to expand its presence in the country that needed foreign direct investments and external assistance. India offered an assistance of $4.5 billion and is helping Sri Lanka with port and energy sector connectivity through grants and investments. This aid and push for connectivity, together with India's economic growth, has given confidence to Sri Lanka in seeking India's assistance and investments. As a result, when the major stakeholder of Colombo Dockyard – Onomichi Dockyard Company – was operating under loss, the CPDLC sought help from the government of Japan and Sri Lanka. In return, Colombo requested India to increase its investments in the country. This was expected to increase the inflow of foreign money, avert further borrowing and debts, and at the same time help domestic stakeholders (who held 49% of stake in CDPLC) stay afloat. Similarly, the push for connectivity helped India further its presence in the region and ensure that its security and interests are not compromised. For instance, in 2011, China began investing in the southern terminal of Colombo Port. In return, a build-operate-and-transfer agreement was signed, effectively leasing out the terminal to China for 35 years. Furthermore, China also invested in the Colombo Port City, a special economic zone, adjacent to the southern terminal, and secured a lease for 99 years. China's increasing presence in Colombo port, and the fact that over 45% of transhipped cargoes of India are handled at the same port, motivated Delhi to increase its presence. In 2018, India and Japan were involved in developing the east container terminal, which was later cancelled unilaterally by the Sri Lankan government. When India expressed its concerns, Sri Lanka sought a compromise by offering the west container terminal of Colombo Port to Adani ports. With a 51% stake, the firm now enjoys a lease of 35 years in the terminal. The acquisition of Colombo Dockyard, Sri Lanka's leading shipbuilder and repair hub, further entrenches Indian position in Sri Lanka's port sector and the Indian Ocean Region. India's commitment, interest to invest, and ability to deliver during Sri Lanka's economic crisis incentivised Colombo to shed its reservations and suspicion. On its part, China too will continue to woo Sri Lanka and other countries in the region by leveraging its economic might. India will have to continue tapping regional markets, bridge infrastructure gaps, and deliver on its promises by leveraging its economy and capital. That's the only way to secure its interests in the region. Aditya Gowdara Shivamurthy is associate fellow, Neighbourhood Studies, ORF. The views expressed are personal.
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Business Standard
30-06-2025
- Business
- Business Standard
Strategic opportunity: Mazagon-CDPLC deal boosts India's maritime influence
This strategic deal between MDSL and CDPLC was the outcome of extensive discussion between Indian and Sri Lankan officials Business Standard Editorial Comment Mumbai Listen to This Article The announcement that state-owned Mazagon Dock Shipbuilders Ltd (MDSL) will acquire a controlling stake in Colombo Dockyard PLC (CDPLC) in a deal worth $53 million must be seen as an important milestone in strengthening India's maritime influence in a key corridor in the Indian Ocean Region. Mumbai-based MDSL, which builds warships and submarines for the Indian Navy and platforms and vessels for offshore oil drilling, is India's largest defence shipyard and a designated Navratna company. Its proposed acquisition of the loss-making CDPLC, which is Sri Lanka's leading ship-building and repair facility, will expand MDSL's portfolio, with the added benefit of
Yahoo
30-06-2025
- Business
- Yahoo
Mazagon Dock to acquire controlling stake in Sri Lanka's Colombo Dockyard
The board of directors of India's Mazagon Dock Shipbuilders has approved the acquisition of a controlling stake in Colombo Dockyard (CDPLC) in Sri Lanka. The investment will not exceed Rs4.52bn ($52.96m) and will involve both primary subscriptions and secondary acquisitions from CDPLC shareholders, including Onomichi Dockyard, a majority shareholder. Definitive documents outlining the terms of the acquisition have been executed by Mazagon, CDPLC, and Onomichi. The proposed acquisition is anticipated to be completed within four to six months, pending the fulfilment of customary closing conditions outlined in the definitive documents, including obtaining necessary statutory and regulatory approvals. Upon completing the proposed acquisition of shares, Mazagon will obtain at least 51% equity in CDPLC, gaining control. As a result, CDPLC will become a subsidiary of Mazagon. Based at Graving Docks, Port of Colombo in Sri Lanka, CDPLC is a public limited company focusing on shipbuilding and ship repair. CDPLC's consolidated turnover for 2024 was SLRs25.44bn ($84.4m), with a consolidated net worth of SLRs5.31bn ($17.6m), as of 31 December 2024. Mazagon stated that the proposed acquisition is expected to bolster its presence in the ship repair and shipbuilding sector by leveraging operational synergies, improving research and development capabilities, and broadening market reach, aligning with the firm's long-term growth vision. In November 2023, the US Government's International Development Finance Corporation (DFC) pledged more than $550m for the development of a deepwater shipping container terminal at the Port of Colombo. According to the DFC, the port is the largest and busiest transshipment hub in the Indian Ocean, operating at over 90% capacity since 2021, indicating a need for an additional terminal. "Mazagon Dock to acquire controlling stake in Sri Lanka's Colombo Dockyard" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
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First Post
30-06-2025
- Business
- First Post
Why has Mazagon Dock bought controlling stake in Sri Lanka's Colombo dockyard?
Mazagon Dock, India's biggest warship builder, has bought a controlling interest in Colombo Dockyard PLC (CDPLC). The Indian government-run firm headquartered in Mumbai and chaired by ex-Indian Navy captain Jagmohan has bought Sri Lanka's biggest dockyard and publicly-listed company for $52.96 million (Rs 452 crore) in cash read more Mazagon Dock Shipbuilders Ltd has acquired a stake in a Sri Lankan dockyard. The Indian government-run firm bought a controlling interest in Colombo Dockyard PLC (CDPLC). But what do we know about the deal? And why has Mazagon Dock Shipbuilders bought a stake in the dockyard in Colombo? Let's take a closer look: What we know First, let's take a brief look at Mazagon Dock Shipbuilders. Mazagon Dock Shipbuilders is India's biggest warship builder. It was incorporated as a public firm in 1934. Headquartered in Mumbai, it is chaired by ex-Indian Navy captain Jagmohan. STORY CONTINUES BELOW THIS AD It has a market capitalisation of $15.12 billion (Rs 1,29,254 crore). It has a turnover of around $1.13 billion ( Rs 9,660 crore). Mazagon Dock Shipbuilders bought a 51 per cent stake in the CDPLC. CDPLC is Sri Lanka's biggest dockyard and a publicly-listed firm. Located within the port of Colombo, it has been in business for over five decades. Mazagon Dock Shipbuilders Limited Mazagon Dock Shipbuilders is India's biggest warship builder. The deal was made in cash for $52.96 million (Rs 452 crore). 'The Board of Directors of Mazagon Dock Shipbuilders Limited inter alia considered and approved the acquisition of a controlling and substantial stake of Colombo Dockyard PLC by way of an investment not exceeding $52.96 million (approximately Rs 452 crore) considering prevailing exchange rate) in the securities of CDPLC through a combination of primary subscription and secondary acquisitions from the shareholders of CDPLC,' a statement from Mazagon Dock Shipbuilders read. The CDPLC has been in poor financial health for a while. The firm saw a loss of Rs 70 crore in 2024. Onomichi Dockyard, which had controlling interest of CDPLC, approached both the Sri Lankan and Japanese governments for relief. Onimichi previously owned a 51 per cent stake in CDPLC. Why has it made this deal? Experts say the move is aimed at countering China's growing footprint in Sri Lanka as well as the IOR. China owns an 85 per cent stake in Hambantota International Port Group (HIPG). It also has a 99-year lease on Sri Lanka's Hambantota International Port (HIP). Experts also say the deal gives MDL a foothold into the Indian Ocean Region (IOR). Despite the CDPLC's recent financial difficulties, the port's strategic location and history could make it an invaluable asset for MDL. STORY CONTINUES BELOW THIS AD After all, the CDPLC is the Sri Lankan government's leading shipbuilder and ship repair firm. It services over 200 ships every year – and can handle vessels up to 125,000 DWT. It also has clients and government contracts across Asia, West Asia, and Africa. It is known for building complex offshore support vessels, cable-laying ships, tankers, and patrol boats for clients across Japan, Norway, France, the UAE, India, and several African nations. It is Sri Lanka's only shipyard which offers an integrated portfolio of services-ranging from in-house design and construction to advanced repair and marine steel fabrication. The move also helps out Sri Lanka. This because the Sri Lanka Employees' Provident Fund owns 16 per cent of the CDPLC, its insurance fund owns around 9 per cent and the ports authority owns five per cent. The CDPLC going under would have also meant the loss of jobs for those employed at the dockyard. It could also be the first step towards MDL becoming a global player in shipbuilding. STORY CONTINUES BELOW THIS AD This is the first time an Indian shipbuilding firm, either state-owned or private, has bought a shipyard overseas. 'With this, MDL begins its transformation from a domestic shipbuilder to a regional maritime player with global ambitions," Mazagon Dock Shipbuilders Limited wrote on its social media account on X. 'Aligned with Maritime Amrit Kaal Vision 2047, this move strengthens India's regional maritime influence and expands MDL's global reach,' it added. 'This is not just an acquisition, it is a gateway. It marks our first international foray and reflects our ambition to transform into a global shipbuilding enterprise. With Colombo Dockyard's strategic location, proven capabilities, and strong regional presence, this step will position MDL as a key player in South Asia and lay the foundation for our emergence as a global shipyard,' MDL chairman Captain Jagmohan said. 'With this acquisition, MDL positions itself not only to strengthen its presence in the region (IOR) but also to enhance its competitiveness in the global shipbuilding and marine engineering arena,' an MLD spokesperson added. STORY CONTINUES BELOW THIS AD With inputs from agencies
