[4][1] MDL is a public sector undertaking managed by the Ministry of Defence, with the Government of India holding an 84.83% stake.

Its shipbuilding segment has indigenously built stealth frigates, destroyers, guided-missile destroyers, corvettes, landing platform docks, missile boats, patrol boats, trailing suction hopper dredgers, cargo ships, cargo-passenger ships, platform supply vessels, Voith tugs and BOP vessels, while its submarine segment has built conventional submarines and stealth submarines.

[8] Vice Admiral Narayan Prasad, AVSM, NM, IN (Retd), is the Chairman & Managing Director (CMD) of Mazagon Dock Shipbuilders Limited.

The yard has the capability to build warships, submarines, and merchant ships up to 30,000 deadweight tons (DWT).

[11][12] The shipyard has expansion plans worth ₹5,000 crore (US$580 million) to focus on security and executing export orders.

Additionally, the new submarine orders could be executed in the existing facilities due to their inherent smaller dimensions.

[13] While construction of the Nilgiri class was being completed, the Indian Navy proposed requirements for an indigenously designed and built frigate.

To address these requirements, MDL designed and built the Godavari-class guided-missile frigates with a 3,800-tonne displacement and the ability to embark two helicopters.

[16] The 6000-ton Shivalik-class (Project 17) frigates are the first warships with stealth features to be designed and built in India.

Kolkata-class vessels are the next-generation of guided-missile destroyers in the 7,400-tonne range to be designed and built at MDL.

Nilgiri class vessels are the next-generation of guided-missile frigates in the 6,500-tonne range to be designed and built at MDL and GRSE.

These vessels are specialised ships built for patrolling, policing, and search and rescue operations in India's exclusive economic zone.

[19] In September 2023, MDL became the second Indian shipyard after Kattupalli Shipyard of Larsen & Toubro to sign a Master Ship Repair Agreement (MSRA) with the US Government, represented by NAVSUP Fleet Logistics Center (FLC) Yokosuka, for United States Navy's Military Sealift Command Fleet Support Ships.

[20][21] The ships operated by MSC are non-commissioned US Navy “support vessels” with civilian crews bearing the prefix “USNS”.

It operates facilities at Alcock, Mumbai, and Nhava Yard for the construction of platforms with wellhead, water injection and production separator and glycol process capabilities, as well as jackup rigs, SBMs and other offshore structures.

[25] Repair and maintenance jobs on offshore rigs are undertaken at Alcock; jackets up to 80 metres (260 ft) length and 2,200-tonne weight can be constructed.

The yard builds specialist vessels able to clean oil spills and fight fires on offshore drilling platforms.