Mazagon Dock Shipbuilders Limited (MAZDOCK) - Net Assets

Latest as of March 2026: Rs99.84 Billion INR ≈ $1.08 Billion USD

Based on the latest financial reports, Mazagon Dock Shipbuilders Limited (MAZDOCK) has net assets worth Rs99.84 Billion INR (≈ $1.08 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs274.58 Billion ≈ $2.97 Billion USD) and total liabilities (Rs174.74 Billion ≈ $1.89 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Mazagon Dock Shipbuilders Limited (MAZDOCK) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs99.84 Billion
% of Total Assets	36.36%
Annual Growth Rate	14.02%
5-Year Change	158.81%
10-Year Change	233.9%
Growth Volatility	12.56

Mazagon Dock Shipbuilders Limited - Net Assets Trend (2013–2026)

This chart illustrates how Mazagon Dock Shipbuilders Limited's net assets have evolved over time, based on quarterly financial data. See MAZDOCK cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Mazagon Dock Shipbuilders Limited (2013–2026)

The table below shows the annual net assets of Mazagon Dock Shipbuilders Limited from 2013 to 2026. For live valuation and market cap data, see MAZDOCK market cap overview.

Year	Net Assets	Change
2026-03-31	Rs99.84 Billion ≈ $1.08 Billion	+25.74%
2025-03-31	Rs79.40 Billion ≈ $858.67 Million	+27.17%
2024-03-31	Rs62.43 Billion ≈ $675.21 Million	+31.16%
2023-03-31	Rs47.60 Billion ≈ $514.79 Million	+23.39%
2022-03-31	Rs38.58 Billion ≈ $417.19 Million	+12.39%
2021-03-31	Rs34.32 Billion ≈ $371.19 Million	+11.83%
2020-03-31	Rs30.69 Billion ≈ $331.91 Million	-4.50%
2019-03-31	Rs32.14 Billion ≈ $347.55 Million	+13.40%
2018-03-31	Rs28.34 Billion ≈ $306.49 Million	-5.22%
2017-03-31	Rs29.90 Billion ≈ $323.37 Million	+13.50%
2016-03-31	Rs26.34 Billion ≈ $284.90 Million	-4.30%
2015-03-31	Rs27.53 Billion ≈ $297.70 Million	+31.51%
2014-03-31	Rs20.93 Billion ≈ $226.38 Million	+15.38%
2013-03-31	Rs18.14 Billion ≈ $196.21 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Mazagon Dock Shipbuilders Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Common Stock	Rs2.02 Billion	2.07%
Other Components	Rs95.53 Billion	97.93%
Total Equity	Rs97.55 Billion	100.00%

Mazagon Dock Shipbuilders Limited Competitors by Market Cap

The table below lists competitors of Mazagon Dock Shipbuilders Limited ranked by their market capitalization.

Company	Market Cap
VERBUND AG VI:VER	$11.06 Billion
WOORI FIN. GRP SP.ADR/3 F:2WGA	$11.06 Billion
Sichuan Em Technology Co Ltd SHG:601208	$11.06 Billion
Webster Financial Corporation NYSE:WBS	$11.06 Billion
Ruijie Networks Co. Ltd. A SHE:301165	$11.05 Billion
Var Energi ASA OL:VAR	$11.05 Billion
CSPC PHARMACEUT.GR. ADR4 F:CVGU	$11.04 Billion
Li Auto Inc NASDAQ:LI	$11.04 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Mazagon Dock Shipbuilders Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 79,398,800,000 to 97,548,800,000, a change of 18,150,000,000 (22.9%).
Net income of 25,833,800,000 contributed positively to equity growth.
Dividend payments of 7,749,000,000 reduced retained earnings.
New share issuances of 3,823,400,000 increased equity.
Other comprehensive income decreased equity by 23,855,600,000.
Other factors increased equity by 20,097,400,000.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs25.83 Billion	+26.48%
Dividends Paid	Rs7.75 Billion	-7.94%
Share Issuances	Rs3.82 Billion	+3.92%
Other Comprehensive Income	Rs-23.86 Billion	-24.46%
Other Changes	Rs20.10 Billion	+20.6%
Total Change	Rs-	22.86%

Book Value vs Market Value Analysis

This analysis compares Mazagon Dock Shipbuilders Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 10.48x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 69.55x to 10.48x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2013-03-31	Rs36.43	Rs2533.90	x
2014-03-31	Rs42.03	Rs2533.90	x
2015-03-31	Rs55.28	Rs2533.90	x
2016-03-31	Rs58.78	Rs2533.90	x
2017-03-31	Rs74.13	Rs2533.90	x
2018-03-31	Rs70.26	Rs2533.90	x
2019-03-31	Rs159.34	Rs2533.90	x
2020-03-31	Rs137.41	Rs2533.90	x
2021-03-31	Rs85.09	Rs2533.90	x
2022-03-31	Rs95.63	Rs2533.90	x
2023-03-31	Rs118.01	Rs2533.90	x
2024-03-31	Rs154.78	Rs2533.90	x
2025-03-31	Rs196.86	Rs2533.90	x
2026-03-31	Rs241.82	Rs2533.90	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Mazagon Dock Shipbuilders Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 26.48%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 19.86%
• Asset Turnover: 0.47x
• Equity Multiplier: 2.81x
Recent ROE (26.48%) is above the historical average (18.82%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2013	22.45%	17.44%	0.09x	14.08x	Rs2.26 Billion
2014	-13.52%	-9.80%	0.10x	13.34x	Rs-4.92 Billion
2015	19.20%	14.58%	0.12x	11.35x	Rs2.53 Billion
2016	23.71%	15.13%	0.21x	7.58x	Rs3.61 Billion
2017	20.01%	17.00%	0.18x	6.49x	Rs2.99 Billion
2018	17.51%	11.10%	0.23x	6.83x	Rs2.13 Billion
2019	16.57%	11.54%	0.22x	6.48x	Rs2.11 Billion
2020	15.33%	9.59%	0.23x	6.83x	Rs1.64 Billion
2021	14.97%	12.69%	0.16x	7.30x	Rs1.71 Billion
2022	15.83%	10.65%	0.19x	7.72x	Rs2.25 Billion
2023	23.51%	14.30%	0.27x	6.19x	Rs6.43 Billion
2024	31.02%	20.46%	0.32x	4.72x	Rs13.13 Billion
2025	30.40%	21.11%	0.40x	3.62x	Rs16.20 Billion
2026	26.48%	19.86%	0.47x	2.81x	Rs16.08 Billion

Industry Comparison

This section compares Mazagon Dock Shipbuilders Limited's net assets metrics with peer companies in the Aerospace & Defense industry.

Industry Context

Industry: Aerospace & Defense
Average net assets among peers: $35,942,314,778
Average return on equity (ROE) among peers: 11.99%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Mazagon Dock Shipbuilders Limited (MAZDOCK)	Rs99.84 Billion	22.45%	1.75x	$11.05 Billion
Apollo Micro Systems Limited (APOLLO)	$3.20 Billion	4.57%	0.87x	$1.55 Billion
Bharat Dynamics Limited (BDL)	$30.31 Billion	16.50%	1.17x	$5.20 Billion
Bharat Electronics Limited (BEL_old)	$92.25 Billion	20.45%	1.26x	$29.41 Billion
Cochin Shipyard Limited (COCHINSHIP)	$50.03 Billion	15.66%	1.41x	$4.18 Billion
Data Patterns (India) Limited (DATAPATTNS)	$1.53 Billion	13.71%	0.92x	$2.91 Billion
DCX Systems Limited (DCXINDIA)	$13.75 Billion	2.83%	0.38x	$232.89 Million
Garden Reach Shipbuilders & Engineers Limited (GRSE)	$10.40 Billion	15.72%	4.18x	$3.50 Billion
Hindustan Aeronautics Limited (HAL)	$120.59 Billion	17.19%	3.08x	$31.91 Billion
Sigma Advanced Systems Limited (MEGASOFT)	$1.42 Billion	1.30%	1.24x	$3.08 Billion

About Mazagon Dock Shipbuilders Limited

NSE:MAZDOCK India Aerospace & Defense

Market Cap

$11.05 Billion

Rs1.02 Trillion INR

Market Cap Rank

#2112 Global

#82 in India

Share Price

Rs2533.90

Change (1 day)

-0.72%

52-Week Range

Rs2065.20 - Rs3342.60

All Time High

Rs5694.70