Latest news with #MazagonDockShipbuilders
Al Arabiya
7 hours ago
- Business
- Al Arabiya
India's Mazagon Dock Shipbuilders to buy controlling stake in Colombo Shipyard
Indian state-owned Mazagon Dock Shipbuilders said it would buy a controlling stake in Sri Lankan peer Colombo Dockyard in a deal not exceeding $52.96 million to grow its shipbuilding and repair business. The transaction, involving the acquisition of at least 51 percent equity in Colombo Dockyard, will close within six months, after which the Sri Lankan shipbuilder will become a part of Mazagon Dock Shipbuilders, according to a regulatory filing on Friday. Colombo Dockyard was not immediately available for comment outside business hours. Mazagon Dock Shipbuilders also builds warships and submarines, and the deal is seen giving India a strategic foothold in the Indian Ocean island nation where New Delhi and Beijing have been jostling for influence for years. For 2024, Colombo Dockyard's turnover was 25.45 billion Sri Lankan rupees ($84.89 million), according to the filing, while Mazagon Dock Shipbuilders' revenue for the year ended March 2025 was 114.32 billion Indian rupees ($1.34 billion).
Reuters
8 hours ago
- Business
- Reuters
India's Mazagon Dock Shipbuilders to buy controlling stake in Colombo Shipyard
June 28 (Reuters) - Indian state-owned Mazagon Dock Shipbuilders ( opens new tab said it would buy a controlling stake in Sri Lankan peer Colombo Dockyard ( opens new tab in a deal not exceeding $52.96 million to grow its shipbuilding and repair business. The transaction, involving the acquisition of at least 51% equity in Colombo Dockyard, will close within six months, after which the Sri Lankan shipbuilder will become a part of Mazagon Dock Shipbuilders, according to a regulatory filing on Friday. Colombo Dockyard was not immediately available for comment outside business hours. Mazagon Dock Shipbuilders also builds warships and submarines, and the deal is seen giving India a strategic foothold in the Indian Ocean island nation where New Delhi and Beijing have been jostling for influence for years. For 2024, Colombo Dockyard's turnover was 25.45 billion Sri Lankan rupees ($84.89 million), according to the filing, while Mazagon Dock Shipbuilders' revenue for the year ended March 2025 was 114.32 billion Indian rupees ($1.34 billion). ($1 = 299.8000 Sri Lankan rupees) ($1 = 85.4400 Indian rupees)
Business Standard
a day ago
- Business
- Business Standard
Mazagon Dock to acquire Colombo Dockyard for Rs 452 crrore
Mazagon Dock Shipbuilders said that its board has approved the acquisition of a controlling and substantial stake of Colombo Dockyard PLC (CDPLC) by way of an investment not exceeding $52.96 million, i.e., approximately Rs 452 crore. The securities of CDPLC would be acquired via a combination of primary subscription and secondary acquisitions from the shareholders of CDPLC (including Onomichi Dockyard Co. Ltd. (Onomichi), a majority shareholder of CDPLC). For this purpose, Mazagon Dock, CDPLC and Onomichi have executed definitive documents setting out the terms and conditions of the proposed acquisition. Listed on Columbo Stock Exchange, Colombo Dockyard PLC is engaged in the business of ship building and ship repair. Turnover of CDPLC for the year ended 31 December 2024 on a consolidated basis is LKR 25,447 million. The proposed acquisition will enable Mazagon Dock to strengthen its position in the ship repair and ship building industry, by unlocking operational synergies, enhancing research development capabilities, and expanding market reach. It supports the companys long-term growth vision in the ship building and ship repair industry. "Pursuant to the completion of the proposed acquisition, CDPLC will become a subsidiary of the company, Mazagon Dock Shipbuilders said in a statement. Mazagon Dock Shipbuilders is principally engaged in building and repairing ships, submarines, various types of vessels, and related engineering products for its customers. The company's consolidated net profit declined 50.93% to Rs 325.29 crore, while revenue from operations rose 2.28% to Rs 3,174.41 crore in Q4 March 2025 over Q4 March 2024. The scrip had gained 1.54% to end at Rs 3169.50 on the BSE today.
Mint
3 days ago
- Business
- Mint
Top 5 shipping stocks in India to add to your 2025 watchlist
As tensions escalate in the Middle East—particularly around the Strait of Hormuz—Indian shipping stocks have seen a sharp uptick in recent days, driven by expectations of a spike in global freight rates. The market's reaction follows reports of a potential disruption in one of the world's most crucial maritime trade routes. This comes after a US strike on Iranian nuclear sites and Iran's Parliament proposing the closure of the strait in response—though no final decision has been made. The Baltic Dry Index (BDI), which tracks global dry bulk shipping rates, is already showing signs of weakness. It dropped 3.5% on Friday and over 13% in just a week, signalling softer demand. With all eyes on the sector, here are five Indian shipping stocks to watch in 2025 as the geopolitical storm unfolds. Read this | India on track to make Chabahar preferred port of call in Iran for trade with Central Asian nations, says shipping secy These stocks have been selected from Equitymaster's screener for Best Shipping Stocks in India. #1 Mazagon Dock Shipbuilders Mazagon Dock Shipbuilders Limited (MDL), Mumbai, is one of India's leading shipyards. Starting as a small dry dock, MDL has grown into a prominent player in the shipbuilding space. The company specializes in constructing and repairing warships and submarines for the Ministry of Defence, as well as commercial vessels. It is the only Indian shipyard to have built destroyers and conventional submarines for the Navy, among the first to manufacture Veer- and Khukri-class corvettes, and a lead builder of four Nilgiri-class stealth frigates. It is also the only shipyard to have been granted Navratna status. Since 1960, MDL has built a total of 802 ships, including 28 warships—ranging from advanced destroyers to missile boats—and delivered 7 submarines, significantly bolstering India's underwater defence capabilities. In addition to warships and submarines, MDL has also constructed a variety of military support vessels, including cargo ships, supply ships, and multipurpose support vessels. As of FY25, the company's order book stands at ₹380 billion. Looking ahead, Mazagon Dock Shipbuilders plans to invest ₹50 billion over the next 4–5 years to expand its infrastructure, which includes developing a graving dry dock and upgrading its Nhava Yard. In FY26, ₹5 billion will be allocated for capital expenditure, with ₹3.5 billion directed toward completing a floating dry dock. The company aims to maintain a PBT margin of 12–15% for FY26. #2 Cochin Shipyard Cochin Shipyard Limited (CSL), incorporated in 1972, is one of India's most modern and advanced shipyards. It plays a leading role in constructing all kinds of vessels and in carrying out repairs and refits—including periodic upgrades and life extensions. CSL has built and repaired some of the largest ships in India and recently delivered the prestigious Indigenous Aircraft Carrier to the Indian Navy. The company's expertise extends from building bulk carriers to advanced technology-driven ships such as platform supply vessels and anchor handling tug supply vessels, with a strong focus on warships for the Navy. It made history by constructing INS Vikrant, India's first indigenous aircraft carrier and the largest warship ever built in the country. As of September 2024, CSL's order book stood at ₹225 billion, with 70% from the defence sector, 15% from commercial exports, 6% from domestic commercial orders, and 9% from its subsidiaries. The company plans to expand shipbuilding and repair capacity, focus on green technologies, and diversify into new markets like renewable energy. #3 Garden Reach Shipbuilders and Engineers Garden Reach Shipbuilders and Engineers (GRSE) primarily caters to the shipbuilding needs of the Indian Navy and Indian Coast Guard. Its portfolio includes frigates, missile corvettes, anti-submarine warfare corvettes, survey vessels, and offshore patrol vessels, among others. Over the years, GRSE has also delivered various boats, pontoons, and barges. The company operates three shipbuilding facilities in Kolkata. Ship construction takes place at the Main Works Unit and the Rajabagan Dockyard. On 9 June 2025, GRSE signed two memorandums of understanding (MoUs) during an official delegation visit to Sweden and Denmark. One MoU was signed with Berg Propulsion in Sweden—a global leader in the development, manufacture, and supply of marine propulsion systems. Looking ahead, the company expects its order book to cross ₹400 billion by the end of FY26. #4 Shipping Corp. of India Shipping Corp. of India (SCI) is the largest Indian shipping company in terms of capacity, with a diversified fleet profile spanning the transportation of both goods and passengers. The company operates across four key segments: Liner, Bulk, Tanker, and Technical & Offshore services. The Liner segment handles break-bulk and container transport, while the Bulk segment comprises dry bulk carriers. The Tanker segment includes vessels that transport crude oil, petroleum products, and gas. The Technical & Offshore segment encompasses company-owned offshore vessels, those managed on behalf of other organizations, technical consultancy services, as well as passenger and research vessels operated under external mandates. #5 GE Shipping The Great Eastern Shipping Co. (GE Shipping) is India's largest private-sector shipping firm, operating in two main segments: shipping and offshore services. In shipping, GE transports crude oil, petroleum products, gas, and dry bulk commodities. Its offshore operations, managed through its subsidiary Greatship, support oil companies in exploration and production. With a broad client base spanning oil companies, refineries, manufacturers, and miners, GE Shipping is a key player in the maritime sector. Looking ahead, the company has announced a $160 million investment to renew its fleet. Conclusion India is charting a bold course toward becoming self-reliant in the shipping sector. The government is actively encouraging partnerships between Indian firms and major global shipyards. Shipping Minister Sarbananda Sonowal recently stated that the government is focusing on bringing European innovation to India while also inviting major Asian shipbuilders to set up operations in the country. Before making investment decisions, it's essential to conduct thorough research on company financials and corporate governance to ensure alignment with your financial goals and risk appetite. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
Business Standard
5 days ago
- Business
- Business Standard
Avantel gains after bagging orders worth Rs 25 cr
Avantel rallied 6.29% to Rs 164.75 after the company secured two orders worth Rs 24.73 crore from Mazagon Dock Shipbuilders and Defence Electronics Applications Laboratory, DRDO. The first order, worth Rs 11.06 crore, was awarded by Mazagon Dock Shipbuilders. It includes domestic manufacturing, with a delivery schedule from April 2026 to August 2029. A performance bank guarantee of 5% is required. The second contract, worth Rs 13.67 crore, was received from DRDO's DEAL division and is due for completion by August 2027. This order includes a 3% performance bank guarantee. Avantel specializes in providing strategic solutions to the Indian Defence Services and related establishments. It has developed and manufactured various radio components and unique products such as satellite communications, HF communications, electronic warfare, and radar systems. Currently, Avantel is working on expanding its portfolio by developing SCA-compliant software-defined radios, high-power HF systems, air defence radars, and small satellites. The companys consolidated net profit fell 49.96% to Rs 6.08 crore on a 17.96% rise in revenue from operations to Rs 49.26 crore in Q4 FY25 over Q4 FY24.
