The securities of CDPLC would be acquired via a combination of primary subscription and secondary acquisitions from the shareholders of CDPLC (including Onomichi Dockyard Co. Ltd. (Onomichi), a majority shareholder of CDPLC).

For this purpose, Mazagon Dock, CDPLC and Onomichi have executed definitive documents setting out the terms and conditions of the proposed acquisition.

Listed on Columbo Stock Exchange, Colombo Dockyard PLC is engaged in the business of ship building and ship repair. Turnover of CDPLC for the year ended 31 December 2024 on a consolidated basis is LKR 25,447 million.

The proposed acquisition will enable Mazagon Dock to strengthen its position in the ship repair and ship building industry, by unlocking operational synergies, enhancing research development capabilities, and expanding market reach. It supports the company's long-term growth vision in the ship building and ship repair industry.

Pursuant to the completion of the proposed acquisition, CDPLC will become a subsidiary of the company,' Mazagon Dock Shipbuilders said in a statement.

Mazagon Dock Shipbuilders is principally engaged in building and repairing ships, submarines, various types of vessels, and related engineering products for its customers.

The company's consolidated net profit declined 50.93% to Rs 325.29 crore, while revenue from operations rose 2.28% to Rs 3,174.41 crore in Q4 March 2025 over Q4 March 2024.

The scrip had gained 1.54% to end at Rs 3169.50 on the BSE today.

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