Mazagon Dock Shipbuilders Limited

NSEI:MAZDOCK Stock Report

Market Cap: ₹822.0b

Mazagon Dock Shipbuilders Valuation

Is MAZDOCK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MAZDOCK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MAZDOCK (₹4075.55) is trading above our estimate of fair value (₹1587.51)

Significantly Below Fair Value: MAZDOCK is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MAZDOCK?

Key metric: As MAZDOCK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MAZDOCK. This is calculated by dividing MAZDOCK's market cap by their current earnings.
What is MAZDOCK's PE Ratio?
PE Ratio32x
Earnings₹25.71b
Market Cap₹822.00b

Price to Earnings Ratio vs Peers

How does MAZDOCK's PE Ratio compare to its peers?

The above table shows the PE ratio for MAZDOCK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average45.7x
500049 Bharat Electronics
44.9x15.0%₹2.0t
BDL Bharat Dynamics
64x22.4%₹354.2b
HAL Hindustan Aeronautics
31.9x13.4%₹2.7t
GRSE Garden Reach Shipbuilders & Engineers
42x16.1%₹161.4b
MAZDOCK Mazagon Dock Shipbuilders
32x-2.0%₹822.0b

Price-To-Earnings vs Peers: MAZDOCK is good value based on its Price-To-Earnings Ratio (32x) compared to the peer average (45.7x).

Price to Earnings Ratio vs Industry

How does MAZDOCK's PE Ratio compare vs other companies in the Asian Aerospace & Defense Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
MAZDOCK 32.0xIndustry Avg. 49.4xNo. of Companies8PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MAZDOCK is good value based on its Price-To-Earnings Ratio (32x) compared to the Asian Aerospace & Defense industry average (47.9x).

Price to Earnings Ratio vs Fair Ratio

What is MAZDOCK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MAZDOCK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio32x
Fair PE Ratio34.1x

Price-To-Earnings vs Fair Ratio: MAZDOCK is good value based on its Price-To-Earnings Ratio (32x) compared to the estimated Fair Price-To-Earnings Ratio (34.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MAZDOCK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹4,075.55
₹3,339.00
-18.1%
65.1%₹5,513.00₹1,165.00n/a2
Nov ’25₹4,107.95
₹3,324.00
-19.1%
65.0%₹5,483.00₹1,165.00n/a2
Oct ’25₹4,199.25
₹2,356.50
-43.9%
50.6%₹3,548.00₹1,165.00n/a2
Sep ’25₹4,241.45
₹2,356.50
-44.4%
50.6%₹3,548.00₹1,165.00n/a2
Aug ’25₹5,107.65
₹2,224.00
-56.5%
59.5%₹3,548.00₹900.00n/a2
Jul ’25₹4,393.90
₹2,224.00
-49.4%
59.5%₹3,548.00₹900.00n/a2
Jun ’25₹3,184.05
₹1,866.50
-41.4%
51.8%₹2,833.00₹900.00n/a2
May ’25₹2,348.95
₹1,856.50
-21.0%
52.6%₹2,833.00₹880.00n/a2
Apr ’25₹2,000.80
₹1,856.50
-7.2%
52.6%₹2,833.00₹880.00n/a2
Mar ’25₹2,099.20
₹1,856.50
-11.6%
52.6%₹2,833.00₹880.00n/a2
Feb ’25₹2,234.55
₹1,816.50
-18.7%
56.0%₹2,833.00₹800.00n/a2
Jan ’25₹2,289.75
₹1,787.00
-22.0%
55.2%₹2,774.00₹800.00n/a2
Dec ’24₹2,013.35
₹1,787.00
-11.2%
55.2%₹2,774.00₹800.00n/a2
Nov ’24₹1,920.60
₹1,771.00
-7.8%
46.8%₹2,774.00₹745.00₹4,107.953
Oct ’24₹2,192.20
₹1,500.00
-31.6%
35.9%₹1,961.00₹745.00₹4,199.253
Sep ’24₹1,887.05
₹1,500.00
-20.5%
35.9%₹1,961.00₹745.00₹4,241.453
Aug ’24₹1,859.75
₹1,096.33
-41.0%
54.9%₹1,944.00₹600.00₹5,107.653
Jul ’24₹1,246.40
₹806.00
-35.3%
24.5%₹1,073.00₹600.00₹4,393.903
Jun ’24₹815.35
₹806.00
-1.1%
24.5%₹1,073.00₹600.00₹3,184.053
May ’24₹754.30
₹672.50
-10.8%
10.8%₹745.00₹600.00₹2,348.952
Apr ’24₹663.05
₹581.00
-12.4%
3.3%₹600.00₹562.00₹2,000.802
Mar ’24₹739.45
₹581.00
-21.4%
3.3%₹600.00₹562.00₹2,099.202
Feb ’24₹744.85
₹581.00
-22.0%
3.3%₹600.00₹562.00₹2,234.552
Jan ’24₹793.15
₹568.50
-28.3%
1.1%₹575.00₹562.00₹2,289.752
Dec ’23₹911.90
₹568.50
-37.7%
1.1%₹575.00₹562.00₹2,013.352
Nov ’23₹638.10
₹428.50
-32.8%
31.2%₹562.00₹295.00₹1,920.602

Analyst Forecast: Target price is lower than the current share price.

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