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Mazagon Dock secured a ₹121.7 crore contract from MAHAGENCO for AI-based security installations. The project spans two sites and includes annual maintenance. The company targets a healthy EBITDA margin of 10-12% in FY2025. Mazagon Dock share price rose 8.42% on Thursday.
Government-run Mazagon Dock Shipbuilders Limited announced on October 10 that it has received a significant contract from Maharashtra State Power Generation Company Ltd (MAHAGENCO).
The contract, valued at ₹121.7 crore, involves the supply, installation, and commissioning of an AI-based "comprehensive infrasecure project." This project will be executed at two locations, GTPS-Uran and KGSC-Pophali.
The ₹121.7 crore project will see Mazagon Dock implementing advanced AI-based security solutions at the two designated sites. The contract value is inclusive of all taxes and duties.
Besides the core project, the company is tasked with providing annual maintenance contracts (AMC) for the installed equipment after the first year. The project is expected to be fully executed by October 10, 2025, according to the company's stock exchange filing.
Mazagon Dock‘s financial performance has remained solid, with a healthy cash surplus and no working capital concerns. The company has no liabilities in the form of loans or debts, ensuring financial stability.
Mazagon Dock share price saw a sharp increase of 8.42% on Thursday, closing at ₹4,431. The stock has delivered an impressive return of 105.68% over the past year, more than doubling the investors' money. This strong performance highlights investor confidence in the company’s long-term prospects despite short-term market fluctuations.
Mazagon Dock's latest order from MAHAGENCO further strengthens its position in the AI-driven security space. The company’s solid financial foundation, coupled with new projects and expanding business verticals, positions it for continued growth.
The completion of this project will not only boost its earnings but also reinforce its reputation as a leader in shipbuilding and infrastructure security.
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