In a regulatory filing, the company said, “Mazagon Dock Shipbuilders has signed a contract with acquisition wing of Ministry of Defence for construction and delivery of six next generation offshore patrol vessels (NGOPVs) for Indian Coast Guard (ICG).”

The contract specifies the design, construction, and delivery of the vessels. The first vessel will be delivered in 41 months from the date of release of advance payment by the Ministry of Defense and subsequent vessels at intervals of five months.

Mazagon Dock Shipbuilders build maritime capability to strengthen national security and help the nation sail through new economic heights. Mazagon Dock is the ship builder to the nation.

The company’s consolidated net profit jumped 55.6% to Rs 332.88 crore in Q2 FY24 as compared with Rs 213.90 crore in Q2 FY23. Net sales increased 7.4% YoY to Rs 1,827.70 crore in Q2 FY24.

Shares of Mazagon Dock Shipbuilders slipped 4.44% to end at Rs 2,046.25 on the BSE.