Mazagon Dock Shipbuilders has received a purchase order worth Rs 117.99 crore from Maharashtra State Electricity Transmission. The order covers an AI-based infrastructure security project across five substations. The company disclosed the development to stock exchanges.

Mazagon Dock gets Rs 117.99 crore MSETCL order 

MSETCL has awarded the contract for supply, installation and commissioning of what the company describes as an AI-based Comprehensive Infrasecure Project. The work spans five substations. The order value stands at Rs 117.99 crore, inclusive of GST at 18% and other duties.

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The contract is domestic in nature. Mazagon Dock said the execution period for the order is 24 months.

Mazagon Dock says order is not a related party transaction 

As part of the filing, Mazagon Dock confirmed that the order does not involve any interest from its promoter or promoter group companies. It also stated that the contract does not fall within the ambit of related party transactions.

About Mazagon Dock Shipbuilders

Mazagon Dock Shipbuilders traces its history back to 1774, when a small dry dock was first built at Mazagon in Mumbai. The company counts itself among India’s leading shipbuilding yards. It functions as a Navratna Defence Public Sector Undertaking under the Ministry of Defence, Government of India. Since 1960, it has built 806 vessels in total, including 31 warships ranging from destroyers to missile boats, and eight submarines. 

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Beyond naval platforms, the company has supplied cargo ships, passenger ships, supply vessels, multipurpose support vessels, water tankers, tugs, dredgers, fishing trawlers, barges and border outposts to customers in India and abroad, and has also manufactured offshore products such as jackets, wellhead platform main decks, process platforms and jack-up rigs. The company is listed on both the BSE and the NSE, and remains majority-owned by the Government of India.

Mazagon Dock Shipbuilders share price: Stock gains 4.55% in a month 

Mazagon Dock Shipbuilders’ share price has been flat in early trade on September 7. The company’s share price has been up 4.55% in the past month. Over the past year, Mazagon Dock Shipbuilders’ share price has declined 7.08%.