Mazagon Dock Shipbuilders Ltd Share Price

History of Mazagon Dock Shipbuilders Ltd

Mazagon Dock Shipbuilders Limited, formerly known as Mazagon Dock Limited was incorporated as a Private Limited Company on February 26, 1934 in Mumbai. The name of the Company was changed from Mazagon Dock Limited to Mazagon Dock Shipbuilders Limited on May 28, 2015. The Company is one of India's leading Defence Public Sector Undertaking Shipyards under the Ministry of Defence (MoD). The Company is principally engaged in building and repairing of ships, submarines, various types of Vessels and related engineering products for its customers. At present MDL is handling two Shipbuilding projects for Indian Navy, comprising of four ships of P15B & four ships of P17A each. Besides, MDL is also handling construction of six Scorpene class Submarines for the Indian Navy, out of which three Sub ...marines have already been delivered. The Company have the capability to build warships, submarines, merchant ships upto 4,17,600 DWT since 1979. The Company acquired the 'Navratna' status in 2024, making MDSL the only shipyard in India to receive this elite classification by the Dept. of Public Enterprise. In 1960, Mazagon Dock Shipbuilders Limited was taken over by the Government of India (GoI) for Indigenous production of warships for the Indian Navy. In 1972, the Company delivered the first frigate, INS Nilgiri. In 1984, the Company inaugurated undertaking submarine construction. In 1992, the Company commissioned first Indian built submarine, INS Shalki. In 1997, the Company delivered first Delhi class Destroyer under project P15. In 1998, the Company was accredited with ISO certification for shipbuilding. In 2000, the Company upgraded to Schedule A' status from Schedule B'. In 2006, the Company received Award for Mini Ratna Category - I status. In 2007, the Company was awarded for Excellence & Outstanding contribution to the Public Sector Management - Special Institutional Category. In 2008, the Company bagged award for Raksha Mantri for Best Performing Shipyard. In 2009, the Company implemented enterprise resource planning (ERP_ and systems applications and products. In 2010, the Company moved on in delivering its first Shivalik class Frigate under project P17 and was accredited with the Institute of Directors (IOD) the Golden Peacock Award for Innovative Product/Service with ISO Certification for submarine division. In 2011, the Company signed an agreement of shipbuilding contract for construction and delivery of four P15 B misile destroyers with the MoD. In 2012, the Company was awarded the Golden Peacock for Corporate Social Responsibility, awarded by Institute of Directors (IOD), the BT-STAR PSU Excellence Award for excellence in Innovation (Tech/R&D), and awarded by Bureaucracy Today; QCFI- Special Awards for Best Organization for Promoting 5S concept, awarded by Quality Circle Forum of India. In 2014, it delivered first Kolkata class Destroyer under project P-15A. In 2015, the Company launched first destroyer class ship 'Vishakhapatnam' under P15 B project and further signed contract for construction and delivery of four frigates with the MoD. In 2016, the Company inaugurated new submarine section assembly workshop at Alcock Yard. In 2017, the Company authorized the production of first P-75 Scorpene class submarine, INS Kalvari. A Memorandum of Understanding (MoU) dated November 24, 2017 was entered between Bharat Electronics (BEL), Hindustan Aeronautics Limited (HAL) and the Company for establishment of 150 MW grid connected solar power plant at the land/ estate of the Ordnance Factory Board under the developer mode wherein BEL shall be the nodal agency for implementation and responsible for operation and technical scope of the project. In the said project, the Companies HAL and BEL are entitled to share the investments in the ratio of 25:25:50. In 2019, the Company took the initiative in commissioning second P-75 Scorpene class submarine, INS Khanderi and launching of INS Nilgiri, first Frigate of Project 17 A. On 12th October 2020, the Indian Chamber of Commerce conferred the Mazagaon Dock Shipbuilders Limited 10th PSE Excellence Award for being the Runner up in Corporate Social Responsibility under Miniratna I, II & others category. 11 MDL Quality Circle teams participated virtually at National Convention on Quality Concepts (NCQC-2020) held in the year of 2020 in December. 10 QC teams won Par Excellence (highest) award and 01 QC team won Excellent award from M/s Quality Circle Forum of India (QCFI), Hyderabad. Besides, the MDL was awarded 2nd Prize for Rajbhasha Patrika Jal Tarang' and 3rd Prize for Rajbhasha Implementation in the year on 12 July 2020. The Company completed trials for three major R&D projects, through Industry-Academia participation with IIT Madras, Chennai through their incubated start-ups belonging to the Tamil Nadu Corridor. The Company ventured into the area of Artificial Intelligence (AI) also through these projects. The product developed through the first Project, i.e., AI enabled weld inspection tool with computerized radiography to replace manual radiography (RT), was launched during the Defexpo 2020 at Lucknow. The second project fruitfully concluded by developing an AI enabled robotic weld inspection tool employing phased array technique, and this can replace computerized radiography in consultation with the Indian Navy. The product also was at display during Defexpo 2020. An AI enabled Remotely Operated Vehicle (ROV) is the third project which was also displayed during DEFEXPO 2020. This AI ROV can detect and classify underwater images, thus making the inspections quick and safe. In 2021, the Company authorized the commissioning of of third P-75 Scorpene class submarine, INS Karanj. In FY 2021, the Company put to use its infrastructure under Mazdock Modernisation Project (MMP) comprising of a new Wet Basin, Heavy Duty Goliath Crane, Module Workshop, Cradle Assembly Shop, Store Building and associated ancillary structures. Submarine Section Assembly (SSA) workshop, an eco-friendly green concept building has been completed and put to use. Besides, it replaced piped services of Mumbai Yard towards fire safely. It commissioned a new Canteen facility with a seating capacity of 500 workers a major infrastructure additions. The Company in partnership with IIT Madras, Chennai(IITM) has designed and developed two Artificial Intelligence enabled product comprising of AI-enabled Computerized radiography and AI-enabled advance phase array ultrasonic testing(APAUT) to improve the quality assurance of weld with less time, less labor consumption & higher efficiency. With the increased capacity and well trained personnel, the Company is poised to tap export markets for marine platforms and heavy engineering products along with offering services in shipbuilding, ship repairs and refits. The submarine division have setup an in-house Fluid Testing Laboratory for testing the cleanliness, pH and water content of hydraulic oil used in P75 submarine. During the year 2020-21, the Company had signed Memorandum of Understanding (MoU) with the Ministry of Defence, Government of India required to be achieved under Project 75 (submarines) and shipbuilding projects of 15B and 17A. During 2021-22, the Company delivered their First Ship of Project Destroyer on 28 October, 2021 and commissioned into the Indian Navy on 21 November, 2021. It had re-commenced operations in normal mode from 07 June, 2021 and Oxygen supply had been restored from 01 June, 2021. It delivered two major platforms, first ship of Project Destroyer and the Fourth Scorpene Submarine of Project Submarine to the Indian Navy on 09 November, 2021 which was commissioned on 25 November, 2021. It launched the sixth Submarine on April 20, 2022. In 2022-23, Second Ship Missile Destroyer Project (P15B), Mormugao' commissioned on 18 Dec' 22. Fifth Scorpene Submarine of Project 75, Vagir' commissioned on 23 Jan' 2023. Sixth Scorpene Submarine of Project 75 Vagsheer' launched on 20 Apr'22. Second Frigate of Project 17A, Udayagiri' and Fourth Missile Destroyer of Project 15B, Surat' launched on 17 May 2022. Fuel Cell Electric Vessel (FCEV) launched on 01 Jul 2022. Third Frigate of Project 17A, Taragiri' launched on 11 Sep'22. First Destroyer commissioned into the Indian Navy effective 21 Nov. 2021. The Company completed 'Capital Dredging of Navigational Channel from Kanhoji Angre Wet Basin (MDL Water Front) to Offshore Container Terminal berth of MbPT, Mumbai Project work in Nov'22. In Jan' 22, completed modernization of MDL Medical & OHS Center to transform it into a State of the Art' Medical Centre; completed modernization of MDL Guest House located at 17th & 18th floor of Angre House in Dec'22. Keel Frigate Project launched on 11 Sep'22. In 2023-24, Company launched the Fourth Stealth Frigate of Project 17A, INS Mahendragiri,' and delivered the Third Guided Missile Destroyer of Project 15B, INS Imphal,' to the Indian Navy. It also completed the Final Reading D448 of the Third Scorpene Submarine of Project 75, INS aranj,' and launched India's fastest Solar-Electric Boat, SaurShakti,' in collaboration with M/s NavAlt. Additionally, it handed over INS Shishumar' to the Indian Navy after the successful completion of its Medium Refit cum Life Certification (MRLC), reinforcing its capabilities in Submarine refurbishment and maintenance. The three frontline Naval Platforms, that is, P15B Guided Destroyer, INS Surat, P17A Stealth Frigate, INS Nilgiri and P75 Scorpene Submarine, INS Vaghsheer were commissioned on 15 January, 2025. Company delivered Delivered the 6th, P-75 Scorpene Class Submarine, INS Vaghsheer on 09 January, 2025.