Mazagon Dock Stock Split Record Date Set For Dec. 27 — Check Details Here

Mazagon Dock Shipbuilders Ltd. has fixed Friday, Dec. 27, as the record date for determining the eligibility of shareholders for its proposed stock split. Under the plan, each existing equity share with a face value of Rs 10 will be subdivided into two equity shares with a face value of Rs 5 each, fully paid up.

Consequently, Thursday, Dec. 26, will serve as the ex-date for the stock split, aligning with the T+1 settlement cycle.

Notably, the record date is a crucial benchmark set by companies to identify the shareholders entitled to receive benefits such as dividends, split shares, or bonus shares.

Earlier, on Oct. 22, Mazagon Dock had announced another stock split. In addition to this, the defence company's board had announced an interim dividend of Rs 23.19 per share with record date set for Oct. 30. This follows a final dividend of Rs 12.11 per share declared on Sept.19.

The company had also issued an interim dividend of Rs 15.34 per share on Nov. 20, 2023, and a final dividend of Rs 6.86 per share with an ex-date of Sept. 20, 2023.

Shares of the company have risen 102.35% in the last 12 months and 102.97% on a year-to-date basis.

Two out of the five analysts tracking Mazagon Dock have a 'buy' rating on the stock, two recommend a 'hold' and one suggests a 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 4,029.8, implying a downside of 13%.

Mazagon Dock Q2 Results

Mazagon Dock's net profit rose 76% year-on-year in the quarter ended Sept. 30, beating analysts' estimates. The shipbuilding firm posted a bottomline of Rs 585 crore, which was higher than consensus estimate of Rs 489 crore shared by analysts tracked by Bloomberg.

The company's revenue rose 51% year-on-year to Rs 2,757 crore in the quarter as against the expectations of Rs 2,148 crore. The total operating expenses to revenue narrowed to 81.5% as compared to 90.3% in the year-ago period.