Machilipatnam was the site of one of the decisive engagements of the Seven Years' War in India — the Siege of Masulipatam in 1759. The town at that time was held jointly by French and Dutch forces; the British East India Company, fighting France globally, sent a force under Colonel Francis Forde to take it. The siege lasted a week and ended with a British assault that broke the Franco-Dutch control of the port.
There is no dramatic monument at the site today — the old fortifications have largely vanished into the fabric of the modern town — but the area around the old harbour and the northern edge of the city is where the main action took place. If you have an interest in the colonial history of the Coromandel Coast, Machilipatnam's role in shifting power from France to Britain on the eastern seaboard makes it a compelling destination. The Wikipedia articles on both the Battle of Condore and the Siege of Masulipatam provide good context before visiting.