Mazagon Dock Shipbuilders Ltd, one of India’s premier defence PSUs, has released its shareholding pattern for the quarter ended June 2025 (Q1FY26). The highlight of this quarter’s data is the entry of Life Insurance Corporation of India (LIC), which has acquired a fresh 3.27% stake in the company. This significant development signals growing institutional confidence in India’s defence manufacturing sector.
LIC Entry and Institutional Movement
The shareholding pattern shows that LIC’s investment was a major contributor to the rise in Domestic Institutional Investor (DII) holding, which jumped from 1.69% in March 2025 to 5.21% in June 2025. Foreign Institutional Investors (FIIs) also marginally increased their stake from 2.26% to 2.58% over the quarter.
Promoter holding declined slightly, from 84.83% in March to 81.22% in June, while public shareholding remained nearly steady at 10.99% compared to 11.21% in the previous quarter. The number of shareholders rose notably from 6,76,957 to 7,19,743, reflecting strong retail interest in the stock.
A Strategic Asset: Leading Defence Shipyard of India
Mazagon Dock is among the leading shipbuilding yards in India, playing a crucial role in strengthening the country's naval defence capabilities. The company specializes in the construction and repair of warships and submarines for the Ministry of Defence, along with building commercial vessels.
Key distinctions that make Mazagon Dock a strategic player:
It is the only Indian shipyard that has built both destroyers and conventional submarines for the Indian Navy.
It was among the first to manufacture Veer-class and Khukri-class corvettes.
Currently, it is the lead builder of four Nilgiri-class stealth frigates, enhancing India’s naval strength.
It holds the rare distinction of being the only shipyard conferred with Navratna status, elevating its standing among public sector enterprises.
Business Divisions
Mazagon Dock operates under two primary business divisions:
Shipbuilding Division: Responsible for the construction and repair of commercial vessels and naval ships.
Submarine and Heavy Engineering Division: Handles the construction, refit, and repair of diesel-electric submarines and heavy-duty marine projects.
Impressive Track Record
The shipyard has delivered over 802 vessels to date. These include:
Warships, destroyers, submarines, missile boats, and frigates for the Indian Navy and Coast Guard.
Commercial offshore platforms, cargo ships, tugs, passenger ferries, and specialized vessels for both domestic and international markets.
Outlook
LIC’s fresh stake and the rising number of shareholders suggest increased investor confidence, backed by the company’s strategic importance and strong order book. As defence manufacturing receives focused policy push under the Make in India initiative, Mazagon Dock stands to benefit significantly from both public and private sector attention.
