Mazagon Dock Shipbuilders Limited — Important, 23-01-2025: General Updates

Mazagon Dock Shipbuilders Ltd. has addressed a news report suggesting potential qualification for a ₹70,000 crore submarine project. The company clarified that there have been no ongoing negotiations with the Indian Navy regarding the P75(I) project as of now. A sequence of events was outlined, including bid submission on 01.08.2023, successful field evaluation trails confirmed on 26.07.2024, and the opening of the commercial bid on 16.01.2025. The Indian Navy has invited the company for the first round of commercial negotiations scheduled for 27.01.2025. The company confirmed it has not withheld any price-sensitive information that could affect trading, noting that the milestones do not constitute material events without a firm order, thus indicating no immediate material impact on operations.