Mazdock Jun-24
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Questions and Answers

What is the projected peak revenue fiscal year for the order book?

  • FY25 (correct)
  • FY26
  • FY24
  • FY23

    • How many additional submarines are being discussed for order?

  • Three (correct)
  • Four
  • Five
  • Two

    • What is the AON cost for the P-75I project published in 2018?

  • INR38,000 crores
  • INR50,000 crores
  • INR40,000 crores
  • INR43,000 crores (correct)

    • What is the existing order value for the destroyers mentioned?

    <p>INR34,000 crores</p> Signup and view all the answers

    Which project is specified as being in discussion apart from the submarines?

    <p>Project 17 Bravo</p> Signup and view all the answers

    What does the term 'bidding pipeline' refer to in this context?

    <p>Future project opportunities</p> Signup and view all the answers

    What is the time frame mentioned for finalizing projects by the Indian Navy?

    <p>Long-term</p> Signup and view all the answers

    What is the expected number of submarines under the P-75I project?

    <p>Six</p> Signup and view all the answers

    What is the status of the ONGC pipeline order as discussed?

    <p>It is still under discussion and has not started yet.</p> Signup and view all the answers

    What amount is mentioned as pending in the order book for heavy engineering?

    <p>INR 1142 crores</p> Signup and view all the answers

    Who is the speaker that confirms the identified order is under execution?

    <p>Sanjeev Singhal</p> Signup and view all the answers

    In which month was the first order related to ONGC received?

    <p>December</p> Signup and view all the answers

    What is the primary purpose of the capex discussed?

    <p>For ship building and ship repair</p> Signup and view all the answers

    What is the anticipated financial realization timeline for the first order?

    <p>In this financial year</p> Signup and view all the answers

    What will happen to the orders on the P75I?

    <p>All orders will go to one bidding entity</p> Signup and view all the answers

    Which location is part of the expansion plans for capex?

    <p>Adjacent land recently acquired</p> Signup and view all the answers

    What is the approximate cash amount mentioned that the company has?

    <p>INR 15,000 crores</p> Signup and view all the answers

    What project did Bhavesh inquire about during the discussion?

    <p>The ONGC pipeline order</p> Signup and view all the answers

    How might the two facilities interact with each other post-expansion?

    <p>They will have a cross-functional arrangement</p> Signup and view all the answers

    What did Bhavesh mistakenly think regarding the order listed on slide number 15?

    <p>It was unrelated to the ONGC pipeline order.</p> Signup and view all the answers

    What type of agreement was signed with the US Navy?

    <p>A master repair agreement</p> Signup and view all the answers

    What type of vessels will the expanded facilities be able to handle?

    <p>Larger vessels of all types</p> Signup and view all the answers

    How does Biju George respond to the question about the mean?

    <p>He acknowledges it has been fluctuating</p> Signup and view all the answers

    What capability does the existing facility have for future workloads?

    <p>It can handle submarines</p> Signup and view all the answers

    What is the anticipated timeline for the execution of additional submarines?

    <p>5 to 7 years</p> Signup and view all the answers

    How much is the expected capex plan over the next few years?

    <p>INR 3,000 crores</p> Signup and view all the answers

    What will affect the execution timeline of submarines?

    <p>The level of indigenization content</p> Signup and view all the answers

    What is the likely dip in revenues due to additional submarines?

    <p>One year</p> Signup and view all the answers

    What is the estimated additional capex for the recently acquired land?

    <p>INR 1,500 crores</p> Signup and view all the answers

    What is required for a more accurate timeline estimation for submarine execution?

    <p>Crystallization of orders and specifications</p> Signup and view all the answers

    What could potentially lead to a longer execution timeline for a submarine?

    <p>If there are significant requirement changes</p> Signup and view all the answers

    What portion of the total capex has been allocated for the Nhava Sheva Yard during IPO?

    <p>INR 1,000 crores</p> Signup and view all the answers

    What is the expected revenue share from the repair segment?

    <p>5% to 7%</p> Signup and view all the answers

    What is the current status of the bidding for the next-generation destroyers?

    <p>Tenders are still not out.</p> Signup and view all the answers

    What prior bids have been submitted by the company regarding P-75I?

    <p>They submitted bids last year in August.</p> Signup and view all the answers

    What is currently underway for the field evaluation trials of P-75I?

    <p>Trials with Navantia and L&amp;T are ongoing.</p> Signup and view all the answers

    What is being assessed with the new capex mentioned?

    <p>The area available for accommodating vessels.</p> Signup and view all the answers

    What may the future awarding of contracts for next-generation destroyers depend on?

    <p>The capabilities and capacities of existing yards.</p> Signup and view all the answers

    What aspect regarding larger vessels is currently being evaluated?

    <p>Available land and sea area.</p> Signup and view all the answers

    What type of order is expected for 17 Bravo?

    <p>A repeat order of nomination.</p> Signup and view all the answers

    What is the proposed amount for liquidated damages for FY '24?

    <p>INR 300 crores</p> Signup and view all the answers

    How much was knocked out for conservatism during the calculations?

    <p>INR 2,000</p> Signup and view all the answers

    What percentage is knocked out for warranties and spares according to Sanjeev Singhal?

    <p>12%-15%</p> Signup and view all the answers

    What was Gagan Thareja's initial assumption regarding the pending value?

    <p>That it was INR 22,500</p> Signup and view all the answers

    What was the revised RFP amount mentioned by Jayesh?

    <p>INR 60,000 crores</p> Signup and view all the answers

    How many ships did Jayesh refer to when asking about liquidated damages?

    <p>2 ships</p> Signup and view all the answers

    What percentage did Gagan Thareja initially assume should be knocked out for warranties and spares?

    <p>20%</p> Signup and view all the answers

    What did Sanjeev Singhal say about their calculations?

    <p>They had not calculated in that manner.</p> Signup and view all the answers

    Study Notes

    Mazagon Dock Shipbuilders Limited Q4 FY24 Earnings Conference Call

    • Date: May 30, 2024
    • Management: Sanjeev Singhal (Chairman & Managing Director), Biju George (Shipbuilding Director), Commander Vasudev Puranik (Corporate Planning & Personnel Director)
    • Moderator: Amit Dixit (ICICI Securities Limited)
    • Meeting Topic: Q4 FY24 Earnings and Investor Update

    Investor Update Call Details

    • Purpose: To discuss the financial results for the quarter ended March 31, 2024.
    • Transcript: The transcript of the call has been uploaded to the company's website.
    • Website Link: https://mazagondock.in/Transcript.aspx
    • Disclosure: This is a disclosure in accordance with SEBI (LODR) Regulations, 2015.

    Conference Call Summary

    • Liquidated Damages (LD) Write-Back: The company has received LD refunds, and more are expected, related to submarine deliveries. The total amount deducted so far was approximately INR300 crores.
    • P-75 Add-on Submarines: Cost discussions are ongoing.
    • Destroyer Project: Completion expected for INR32,081 crores. INR11,216 crores remaining to be executed.
    • FY25 Revenue Projections: Projected revenue close to INR10,000-10,500 crores.
    • Upcoming Orders: Discussions are ongoing for three additional submarines, and next-generation destroyers. These are also targeted for FY'25 deliveries.
    • Order Backlog: The order book is expected to be around INR14 or INR 15,000 crores. Likely a peak revenue year for the company.
    • Additional Submarines: The company is in discussion for three additional submarines with specifications including AIP.
    • Financial Year (FY): The company is targeting FY'26 for the P75. The current year(FY25) is expecting huge revenue.
    • Expenditures: Capex expected at INR3000 crores over 3-4 years.
    • Operational Details: The current discussions were centered on various aspects of the business including the timelines for delivery of submarines based on the specifications and other operational details.
    • Future Order Projections: The discussion also included future order projections, including the possibilities of large commercial orders to support revenues in the medium to long term.

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    Mazagon Dock Shipbuilders Limited Q4 FY24 Earnings Conference Call PDF

    Description

    This quiz explores the projected revenues and orders related to the Indian Navy, particularly focusing on submarine and destroyer projects. It addresses key terms and timelines surrounding current discussions and financial expectations associated with these orders.

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