Mazagon Dock Shipbuilders Limited (MAZDOCK) Fair Value & Analysis
Industrials · IN · Market cap ₹945B
Strengths
Risks
Fair value as of: Aug 13, 2026
From 17 valuation models · updated 8 days ago
Fair value updated Aug 13, 2026, revised from ₹1,088 to ₹1,086 (−0.2%) since Jul 19, 2026. Share price +10.6% over the past month.
A solid business, but screening 57% overvalued on our models.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹1,414). The favourable scenario is already priced in.
- Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (₹611.87 to ₹1,414) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ₹93.64 – ₹3,728 · fair‑value band ₹611.87 – ₹1,414 · the ₹2,552 price screens above the ₹1,086 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Mazagon Dock Shipbuilders Limited (MAZDOCK) currently trades at ₹2,552, while our model-based Fair Value estimate is ₹1,086, implying the stock looks roughly 57.5% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Mazagon Dock Shipbuilders Limited generated revenue of ₹130B at a net margin of 19.9%. Revenue grew 21.3% year over year. It earns a return on equity of 28.8%. The balance sheet holds a net cash position of ₹126B. Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹611.87 (bear case) to ₹1,414 (bull case); at ₹2,552, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 25% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -51% fair-value upside, at -57%, MAZDOCK screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 17 models by family
Widest divergence: DCF Models (₹2,197) versus Asset-Based (₹162.03). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 51
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
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.
of which total revenue +13.0 pp · buybacks/dilution +1.4 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
MAZDOCK screens 57% overvalued. Compare with General Electric Company →
Peer Group
Aerospace & Defense · 228 stocks
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.
Valuation Multiples vs Aerospace & Defense median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
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 (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $365.33 | $116.71 | -68% |
| RTX Corporation RTX | $222.76 | $88.37 | -60% |
| China CSSC Holdings 600150 | ¥33.89 | ¥21.90 | -35% |
| HD Hyundai Heavy Industries Co 329180 | 496,000 KRW | 272,966 KRW | -45% |
| Hanwha Aerospace Co 012450 | 1,160,000 KRW | 573,468 KRW | -51% |
| ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS | 346.75 TRY | 130.70 TRY | -62% |
| Saab AB SAABB | kr 680.10 | kr 212.84 | -69% |
| Kongsberg Gruppen ASA KOG | kr 330.10 | kr 101.07 | -69% |
| HD Korea Shipbuilding & Offshore Engineering Co 009540 | 371,500 KRW | 643,950 KRW | +73% |
| Hanwha Ocean Co 042660 | 84,200 KRW | 42,795 KRW | -49% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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