Mazagon Dock Shipbuilders Limited (MAZDOCK) fair value: what the stock is really worth
We calculate from audited financials what Mazagon Dock Shipbuilders Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Mazagon Dock Shipbuilders Limited
MAZDOCK · NSEStretched ValuationStrong overvaluation with only moderate quality.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range ₹96.78 – ₹3,728 · fair‑value band ₹604.19 – ₹1,414 · the ₹2,280 price screens above the ₹889.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Company profile
Mazagon Dock Shipbuilders Limited engages in the building and repairing of ships, submarines, vessels, and related engineering products in India and internationally. The company operates in two segments, Shipbuilding, and Submarine and Heavy Engineering.
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Mazagon Dock Shipbuilders Limited engages in the building and repairing of ships, submarines, vessels, and related engineering products in India and internationally. The company operates in two segments, Shipbuilding, and Submarine and Heavy Engineering. The company offers naval platforms, such as destroyers, conventional submarines, frigates, corvettes, missile boats, offshore patrol vessels, and floating border outposts. It also provides merchant ships, such as general cargo vessels, multipurpose support vessels, offshore supply vessels, tugs, dredgers, passenger cum cargo vessels, water tankers, barges, trawlers, and windmill towers and pontoons. In addition, the company offers offshore platforms and jack-up rigs for the oil sector. Further, it offers training ships, next-generation offshore patrol vessels, and fast patrol vessels for coast guard ships. Additionally, the company provides AI products, including remotely operated vehicles, AI-enabled phased array ultrasonic testing, and AI-enabled computerized radiography. The company was formerly known as Mazagon Dock Limited and changed its name to Mazagon Dock Shipbuilders Limited in May 2015. Mazagon Dock Shipbuilders Limited was founded in 1774 and is based in Mumbai, India.
Stock analysis
Mazagon Dock Shipbuilders Limited (MAZDOCK) currently trades at ₹2,280, while our model-based Fair Value estimate is ₹889.43, implying the stock looks roughly 156.3% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹2,197 per share, and 1 of the 17 models we run sit above the ₹2,280 price.
Bear case: the Asset-Based group reads lowest at ₹162.03, and 16 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹604.19 (bear) to ₹1,414 (bull), the price of ₹2,280 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Mazagon Dock Shipbuilders Limited reported revenue of ₹130B in FY2026 versus ₹57.3B in FY2022, a compound +22.7%/yr. Reported net income was ₹25.8B in FY2026, compounding +43.4%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹920B (≈ $9.6B) · P/E ratio 35.6 · P/S ratio 7.08 · EPS (TTM) ₹63.96 · Dividend yield 0.8% · Net margin 19.9% · Return on equity 28.8% · Return on assets (EBIT) 5.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −29% fair-value upside, at −61%, MAZDOCK screens richer than that median.
Fair Value models
All 17 models by family
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Set up alert →Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 40
Revenue & earnings trend
MAZDOCK screens 156% overvalued. Compare with General Electric Company →
Compare Mazagon Dock Shipbuilders Limited with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aerospace & Defense · 232 stocks
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Industrials
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $307.05 | $87.86 | −71% |
| RTX Corporation RTX | $195.50 | $88.37 | −55% |
| Airbus SE AIR | €199.50 | €114.43 | −43% |
| Lockheed Martin Corporation LMT | $533.46 | $419.01 | −21% |
| Howmet Aerospace Inc HWM | $224.67 | $50.43 | −78% |
| General Dynamics Corporation GD | $358.60 | $274.32 | −24% |
| Northrop Grumman Corporation NOC | $530.78 | $356.59 | −33% |
| TransDigm Group TDG | $1,085 | $1,138 | +5% |
| L3Harris Technologies, Inc LHX | $249.66 | $274.63 | +10% |
| Thales S.A HO | €240.90 | €171.13 | −29% |
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Key figures of Mazagon Dock Shipbuilders Limited
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