Latest news with #MDL
India Today
15 hours ago
- Business
- India Today
Explained: Why Mazagon Dock share price tumbled 5% after Q1 results
Shares of Mazagon Dock Shipbuilders Ltd (MDL) fell over 5% in early trade on Tuesday after the state-owned defence shipbuilder reported its June quarter earnings. While revenue rose 11.4% year-on-year, the Street was left stock was down 4.50% to Rs 2,664.25 on the Bombay Stock Exchange (BSE) at 10:34 am. In a month, the stock has tumbled 18%, still up almost 19% this biggest concern was a 53% year-on-year drop in standalone EBITDA, which came in significantly below expectations. Analysts blamed elevated provisioning—now a recurring issue—as the main drag on margins. These provisions, typically made for liquidated damages, warranty claims, and project-related risks, weighed heavily on profits for the second straight quarter. Despite the Q1 miss, brokerages remain positive on MDL's long-term outlook. Nirmal Bang and Antique Stock Broking have both maintained their 'Buy' ratings, citing the company's strong fundamentals and a robust pipeline of upcoming defence contracts. Nirmal Bang expects the company to deliver a 21% compound annual growth rate in revenue, 22% in EBITDA, and 17% in net profit between FY25 and FY27. It has set a target price of Rs 3,540, valuing the stock at 45 times projected June 2027 of that optimism is tied to MDL's chances of bagging large submarine contracts under the P75 and P75I programmes. If secured, these could grow the company's order book from Rs 32,000 crore to more than Rs 1.25 lakh crore. Nirmal Bang also pointed to efficiency initiatives like Shipyard 4.0 and broader digitisation efforts as drivers of future margin Stock Broking, while trimming its FY26 earnings estimate by 8.3% to account for near-term provisioning impact, has kept its target price unchanged at Rs 3,858. It expects provisioning to normalise from the September quarter and even sees scope for some reversals. Antique believes MDL's position in submarine manufacturing is unmatched and that the company stands to gain significantly from India's naval modernisation biggest near-term trigger could be the expected award of three additional Scorpene submarines, which may be granted to MDL on a nominated basis. This alone could double its current order book. Also in the pipeline are the Rs 70,000 crore P75I submarine project and the similarly sized P17B stealth frigate with the stock trading at about 33.8 times one-year forward earnings—well above its historical average—investors appear to be booking profits on any signs of a slip. Two straight quarters of margin pressure and a lack of management guidance may have pushed some to the the structural story remains intact. MDL's proven track record, strategic role in India's defence ecosystem, and expanding order visibility continue to make it a long-term story to watch.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends
Time of India
22-07-2025
- Business
- Time of India
Keel-laying ceremony of first of six next-gen offshore patrol vessels of ICG held in Mumbai
The keel-laying ceremony of the first of the six next-generation offshore patrol vessels that will also feature state-of-the-art machinery and advanced technological systems, including AI-based predictive maintenance systems , was held on Tuesday. This initiative marks a "key milestone" in the Indian Coast Guard 's ongoing efforts to enhance its operational capabilities and bolstering coastal security , officials said. The ceremony for 'Yard 16401' of the ICG was held at Mazagon Dock Shipbuilders Ltd (MDL), Mumbai. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo "With a range of 5,000 nautical miles and measuring 117 metres in length, having a strength of 11 officers and 110 men, the ship will be capable of achieving a maximum speed of 23 knots," a spokesperson of the Indian Coast Guard said. The contract for the construction of six next-generation offshore patrol vessels (NGOPVs) was concluded on December 20, 2023, the ICG said. Live Events "The ship will also feature "state-of-the-art machinery and advanced technological systems, including AI-based predictive maintenance systems, remote piloted drones, Integrated Bridge System (IBS), and Integrated Platform Management System (IPMS)," it said. It is being indigenously designed, developed, and constructed by MDL "under the Buy (Indian-IDDM) category", in line with the the government's vision of 'Atmanirbhar Bharat', the Coast Guard said. IDDM refers to 'Indigenously Designed Developed and Manufactured'. "The project underscores India's commitment to self-reliance in defence production and will significantly contribute to strengthening the nation's strategic autonomy," the ICG said. The addition of new fleet of NGOPVs will further ensure strengthening the ICG's role in safeguarding India's maritime interests, the spokesperson said. The ceremony was attended by senior officials of the ICG and MDL. Besides, on Monday, 'Yard 3034' ('Ajay'), the eighth and last ship of Anti-Submarine Warfare Shallow Water Craft (ASW SWC), indigenously designed and built by Garden Reach Shipbuilders and Engineers (GRSE), was launched at GRSE, Kolkata in the presence of Vice Admiral Kiran Deshmukh, Chief of Materiel (COM). Senior officials from the Indian Navy and GRSE were present at the event. The first ship of the class 'Arnala' was commissioned on June 18 and delivery of the second ship is planned in August, the defence ministry has said The warship will augment the Indian Navy's underwater domain awareness, anti-submarine warfare and mine laying capabilities. The ship is equipped with role defining sensors such as a hull mounted sonar and Low Frequency Variable Depth Sonar (LFVDS), and firepower provided by state-of-the-art Torpedoes, Anti-Submarine Rockets, and NSG-30 Gun. The ship is powered by diesel engines and propelled by waterjets, the ministry said in a statement on Monday.
Cision Canada
17-07-2025
- Business
- Cision Canada
Laramide Granted Mineral Development Licence for Westmoreland Uranium Project
TORONTO, July 17, 2025 /CNW/ - Laramide Resources Ltd. ("Laramide" or the "Company") (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is pleased to announce that its 100%-owned Australian subsidiary, Tackle Resources Pty Ltd ("Tackle"), has received approval of a Mineral Development Licence ("MDL") for the Westmoreland Uranium Project in Queensland, Australia. The approval of the MDL provides a strong foundation for Laramide to advance project permitting and to undertake mining feasibility studies, metallurgical testing and marketing, as well as environmental, engineering and design studies required to support a future Mining Lease ("ML") application. This approval represents a key regulatory milestone and a formal recognition by the Queensland Government that the Westmoreland Project can be evaluated for its development potential. The MDL was granted following the registration of an Indigenous Land Use Agreement (ILUA) with the Gangalidda & Garawa Native Title Aboriginal Corporation (GGNTAC), announced November 29, 2022 1 under which all parties consented to the MDL's issuance. Marc Henderson, President and CEO of Laramide, commented: "The grant of the MDL is a significant milestone for the Westmoreland Project. It provides regulatory confirmation that the Project hosts a defined and economically significant resource capable of supporting long-term development. Furthermore, it provides the company with a security of tenure that allows us to continue with advanced mining studies which in turn maintains our commitment to significant investment in regional Northwest Queensland. "With the MDL now in hand, Laramide is excited for the opportunity to expedite further evaluation of the asset; we believe this asset can play a material role in providing security of supply for western nuclear utilities as they confront the now widely acknowledged structural supply deficit of uranium that extends well into the 2030's." Permitting and a formal Mining Lease application are the next critical steps in the advancement of Westmoreland. The Queensland Government's current stated policy is that it will not grant a mining lease for the purpose of mining uranium, however an administrative change in policy by the Government could direct the Mines Department of Queensland to allow an ML application to be accepted for a primary uranium mine. The current policy was initiated by the previous Labor government, which held power for almost a decade before the last election in October 2024 when Queensland elected a Liberal National ("LNP") majority government. The approved MDL area includes all of Westmoreland's defined uranium deposits, Redtree, Huarabagoo, Junnagunna and Long Pocket. Three of the deposits (Redtree, Huarabagoo, Junnagunna) were used for a 2016 economic analysis ("Scoping Study") 2, which while now not current under NI 43-101, had provided the foundation for the MDL application. The MDL area incorporates conceptual locations for key project infrastructure. The MDL enables Laramide to initiate a range of advanced work programs, including feasibility-level engineering, environmental baseline assessments, geotechnical and site layout planning. Qualified/Competent Person The information in this announcement relating to Mineral Resource Estimates is based on information compiled or reviewed by Mr. Rhys Davies, a contractor to the Company. Mr. Davies is a Member of The Australasian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', and is a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Davies consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. This news release has been reviewed and approved by a senior executive officer of the Company. About Laramide Resources Ltd. Laramide is focused on exploring and developing high-quality uranium assets in Tier-1 uranium jurisdictions. The company's portfolio comprises predominantly advanced uranium projects in districts with historical production or superior geological prospectivity. The assets have been carefully chosen for their size and production potential, and the two large development projects are considered to be late-stage, low-technical risk projects. As well, Laramide has expanded its pipeline with strategic exploration in Kazakhstan where the company is exploring over 5,500 km 2 of the prolific Chu-Sarysu Basin for world class roll-front deposits which are amenable to in-situ recovery. Forward-looking Statements and Cautionary Language This release includes certain statements that may be deemed to be "forward-looking statements." All statements in this release, other than statements of historical facts, that address events or developments that the management of the Company expect, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Laramide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws. Since forward-looking information addresses future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for uranium; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for uranium; uranium price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations. 1 2 SOURCE Laramide Resources Ltd.
Russia Today
15-07-2025
- Business
- Russia Today
India to invest over half a billion dollars to expand naval shipyard
India is planning to invest up to $588 million in its shipbuilding infrastructure in Mumbai, India Today reports, citing sources. Government-run Mazagon Dock Shipbuilders Limited (MDL) is looking to reclaim 10 acres of marine area near its existing Mumbai facility to create two new basins for the simultaneous construction and repair of large warships and submarines, according to the report. The expansion will help the dockyard meet the Indian Navy's increasing demand for advanced platforms, according to the report. It will also help double the current deadweight handling capacity from 40,000 tons to 80,000 tons. Deadweight handling capacity refers to the total weight a ship can carry, excluding the weight of the ship. MDL has also secured a 29-year lease for 15 acres of land, where shipbuilding activities have already begun. It currently has a capacity to build 11 submarines and 10 warships simultaneously, which is expected to increase as the shipyard works on two major submarine projects for the navy. The Mumbai expansion is also expected to play a crucial role in helping the Indian Navy achieve its ambitious goal of having a fleet of 175 ships and reaching 100% indigenization by 2047. Earlier this month, Andrey Puchkov, CEO of Russia's largest shipbuilding company, United Shipbuilding Corporation, said the company would like to take part in Indian defense indigenization efforts. India is building frigates which are part of the Triput class at the Goa shipyard, with transfer of technology and design assistance from Russia.
India Gazette
15-07-2025
- Business
- India Gazette
India to invest over half a billion dollars to expand naval shipbuilding yard
State-run Mazagon Dock Shipbuilders is aiming increase its capacity to construct and repair warships and submarines India is planning to invest up to $588 million in its shipbuilding infrastructure in Mumbai, India Today reports, citing sources. Government-run Mazagon Dock Shipbuilders Limited (MDL) is looking to reclaim 10 acres of marine area near its existing Mumbai facility to create two new basins for the simultaneous construction and repair of large warships and submarines, according to the report. The expansion will help the dockyard meet the Indian Navy's increasing demand for advanced platforms, according to the report. It will also help double the current deadweight handling capacity from 40,000 tons to 80,000 tons. Deadweight handling capacity refers to the total weight a ship can carry, excluding the weight of the ship. MDL has also secured a 29-year lease for 15 acres of land, where shipbuilding activities have already begun. It currently has a capacity to build 11 submarines and 10 warships simultaneously, which is expected to increase as the shipyard works on two major submarine projects for the navy. The Mumbai expansion is also expected to play a crucial role in helping the Indian Navy achieve its ambitious goal of having a fleet of 175 ships and reaching 100% indigenization by 2047. Earlier this month, Andrey Puchkov, CEO of Russia's largest shipbuilding company, United Shipbuilding Corporation, said the company would like to take part in Indian defense indigenization efforts. India is building frigates which are part of the Triput class at the Goa shipyard, with transfer of technology and design assistance from Russia.
