Cochin Shipyard Ltd
Incorporated in the year 1972, Cochin Shipyard Limited(CSL) is a leading player in construction of all kinds of vessels, repairs and refits of all types of vessels including periodic upgradation and life extension of ships.
CSL has built & repaired some of the largest ships for its esteemed customers across the globe. It has exported some 45 ships to various clients outside India.
It has developed its expertise from building bulk carriers to smaller ships and ships which are more advanced in terms of technology such as Platform Supply vessels, Anchor Handling Tug Supply Vessels. [1]
- Market Cap ₹ 44,864 Cr.
- Current Price ₹ 1,706
- High / Low ₹ 2,547 / 1,180
- Stock P/E 52.8
- Book Value ₹ 213
- Dividend Yield 0.44 %
- ROCE 20.1 %
- ROE 15.8 %
- Face Value ₹ 5.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 42.9%
- Debtor days have improved from 34.6 to 18.5 days.
Cons
- Stock is trading at 8.00 times its book value
- The company has delivered a poor sales growth of 5.76% over past five years.
- Company has a low return on equity of 13.5% over last 3 years.
- Earnings include an other income of Rs.355 Cr.
- Promoter holding has decreased over last 3 years: -4.95%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,798 | 1,583 | 1,990 | 2,059 | 2,355 | 2,966 | 3,422 | 2,819 | 3,190 | 2,330 | 3,645 | 4,528 | 4,795 | |
1,381 | 1,493 | 1,598 | 1,669 | 1,890 | 2,392 | 2,708 | 2,092 | 2,555 | 2,057 | 2,760 | 3,654 | 3,871 | |
Operating Profit | 417 | 90 | 393 | 390 | 465 | 574 | 714 | 727 | 635 | 273 | 885 | 873 | 925 |
OPM % | 23% | 6% | 20% | 19% | 20% | 19% | 21% | 26% | 20% | 12% | 24% | 19% | 19% |
61 | 77 | 107 | 154 | 189 | 227 | 247 | 194 | 266 | 268 | 307 | 380 | 355 | |
Interest | 20 | 19 | 12 | 12 | 12 | 15 | 50 | 57 | 53 | 42 | 42 | 36 | 41 |
Depreciation | 25 | 38 | 37 | 39 | 38 | 34 | 49 | 53 | 54 | 51 | 57 | 84 | 99 |
Profit before tax | 433 | 110 | 450 | 493 | 605 | 751 | 863 | 811 | 794 | 448 | 1,094 | 1,134 | 1,140 |
Tax % | 35% | 37% | 35% | 35% | 34% | 36% | 26% | 25% | 26% | 25% | 26% | 26% | |
282 | 69 | 292 | 322 | 397 | 481 | 638 | 610 | 587 | 334 | 813 | 843 | 850 | |
EPS in Rs | 12.43 | 3.06 | 12.88 | 14.19 | 14.59 | 18.29 | 24.24 | 23.19 | 22.29 | 12.71 | 30.91 | 32.04 | 32.31 |
Dividend Payout % | 6% | 25% | 30% | 32% | 41% | 36% | 34% | 33% | 38% | 67% | 32% | 30% |
Compounded Sales Growth | |
---|---|
10 Years: | 11% |
5 Years: | 6% |
3 Years: | 12% |
TTM: | 23% |
Compounded Profit Growth | |
---|---|
10 Years: | 28% |
5 Years: | 6% |
3 Years: | 13% |
TTM: | -4% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 57% |
3 Years: | 116% |
1 Year: | -18% |
Return on Equity | |
---|---|
10 Years: | 15% |
5 Years: | 14% |
3 Years: | 13% |
Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 113 | 113 | 113 | 113 | 136 | 132 | 132 | 132 | 132 | 132 | 132 | 132 |
Reserves | 1,376 | 1,441 | 1,711 | 1,915 | 3,120 | 3,201 | 3,600 | 3,846 | 4,228 | 4,292 | 4,894 | 5,479 |
334 | 123 | 123 | 123 | 123 | 123 | 123 | 532 | 546 | 567 | 489 | 501 | |
1,164 | 1,214 | 1,402 | 1,170 | 2,103 | 1,793 | 2,554 | 2,893 | 3,413 | 4,919 | 6,366 | 6,934 | |
Total Liabilities | 2,987 | 2,891 | 3,349 | 3,321 | 5,482 | 5,248 | 6,409 | 7,403 | 8,318 | 9,909 | 11,880 | 13,045 |
370 | 370 | 370 | 371 | 349 | 375 | 756 | 756 | 740 | 716 | 722 | 2,804 | |
CWIP | 8 | 13 | 24 | 54 | 115 | 341 | 768 | 1,062 | 1,247 | 1,603 | 2,189 | 511 |
Investments | 0 | 0 | 0 | 0 | 16 | 60 | 65 | 214 | 262 | 336 | 355 | 359 |
2,609 | 2,508 | 2,954 | 2,897 | 5,001 | 4,472 | 4,819 | 5,371 | 6,069 | 7,254 | 8,614 | 9,372 | |
Total Assets | 2,987 | 2,891 | 3,349 | 3,321 | 5,482 | 5,248 | 6,409 | 7,403 | 8,318 | 9,909 | 11,880 | 13,045 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-584 | 663 | 40 | 212 | 632 | -448 | 253 | 670 | 1,415 | 2,051 | -173 | -269 | |
15 | 16 | 47 | 65 | -1,328 | 1,044 | -74 | -446 | -1,011 | -226 | 478 | 613 | |
271 | -235 | -32 | -113 | 812 | -409 | -309 | -405 | -238 | -272 | -371 | -279 | |
Net Cash Flow | -298 | 444 | 55 | 165 | 116 | 186 | -130 | -181 | 166 | 1,553 | -65 | 65 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 244 | 134 | 83 | 54 | 90 | 48 | 31 | 46 | 50 | 52 | 34 | 18 |
Inventory Days | 177 | 113 | 81 | 70 | 98 | 70 | 65 | 130 | 65 | 116 | 215 | 323 |
Days Payable | 77 | 64 | 74 | 59 | 83 | 84 | 85 | 130 | 37 | 69 | 95 | 71 |
Cash Conversion Cycle | 345 | 184 | 91 | 66 | 104 | 34 | 10 | 46 | 78 | 99 | 154 | 271 |
Working Capital Days | 232 | -71 | -95 | -57 | -114 | -27 | 9 | -5 | -92 | -426 | -173 | -56 |
ROCE % | 30% | 7% | 26% | 25% | 22% | 22% | 25% | 21% | 18% | 9% | 22% | 20% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
19 Aug - Uploaded audio of investor/analyst conference call for Q1 FY26 held Aug 19, 2025.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
19 Aug - Investor Presentation - Q1 FY26 Financial Results and Highlights
-
'Saksham Niveshak' Campaign - Shareholder Outreach
Initiative
14 Aug - Cochin Shipyard launches 100-day campaign for shareholders to update KYC and claim unpaid dividends.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Aug
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 13 Aug
Annual reports
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
Concalls
-
Aug 2025TranscriptNotesPPT REC
-
Sep 2024TranscriptNotesPPT
-
Jun 2024Transcript PPT
-
Feb 2024TranscriptPPT
-
Feb 2024Transcript PPT
-
Nov 2023Transcript PPT
-
Sep 2023TranscriptNotesPPT
-
Jun 2023Transcript PPT
-
Jun 2022Transcript PPT
-
Feb 2022TranscriptNotesPPT
-
Jul 2021Transcript PPT
-
Dec 2020Transcript PPT
-
Aug 2020Transcript PPT
-
Jul 2020Transcript PPT
-
Jun 2020TranscriptNotesPPT
-
Feb 2020Transcript PPT
-
Nov 2019TranscriptNotesPPT
-
Aug 2019Transcript PPT
-
Jun 2019Transcript PPT
-
Feb 2019TranscriptNotesPPT
-
Feb 2019TranscriptNotesPPT
-
Nov 2018TranscriptNotesPPT
-
Aug 2018TranscriptNotesPPT
-
Aug 2018TranscriptNotesPPT
-
Aug 2018TranscriptNotesPPT
-
May 2018TranscriptNotesPPT
-
May 2018TranscriptNotesPPT
-
Sep 2017TranscriptNotesPPT
Company Overview
Cochin Shipyard is into shipbuilding (Defence, Commercial & Offshore), Ship repair, Marine Engineering Training and Strategic & Advanced Solutions. It has built and delivered 21 large vessels, 35 offshore support vessels, 93 small & medium vessels and 31 defence vessels as of FY23. [1]