Mazagon Dock Shipbuilders has inked a memorandum of understanding (MoU) with Guidance Tamil Nadu for exploring the development of a world-class greenfield shipyard on India's eastern coast.
Guidance Tamil Nadu is the Tamil Nadus nodal agency for investment promotion and facilitation.
The aforementioned MoU has been signed under the the framework of the Government of Indias Maritime Amrit Kaal Vision 2047.
Maritime Amrit Kaal Vision 2047 is a 25-year strategic blueprint by the Indian Ministry of Ports, Shipping and Waterways. It aims to transform India into a global maritime power by 2047.
The plan envisions an investment of about Rs 80 lakh crore over the next 25 years into ports, shipping, inland waterways, infrastructure, and maritime logistics.
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Mazagon Dock Shipbuilders is engaged in building and repairing ships, submarines, various types of vessels, and related engineering products.
In Q1 FY26, its consolidated net profit fell 35% to Rs 452.15 crore even as revenue from operations rose 11.4% year-on-year to Rs 2,625.59 crore.
The scrip rose 0.49% to currently trade at Rs 2,953.90 on the NSE.
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