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 ₹ 33,724 Cr.
- Current Price ₹ 1,282
- High / Low ₹ 2,979 / 713
- Stock P/E 41.0
- Book Value ₹ 202
- Dividend Yield 0.76 %
- ROCE 21.6 %
- ROE 17.2 %
- Face Value ₹ 5.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 45.3%
- Debtor days have improved from 45.1 to 33.5 days.
Cons
- Promoter holding has decreased over last quarter: -4.95%
- The company has delivered a poor sales growth of 4.21% over past five years.
- Company has a low return on equity of 12.7% over last 3 years.
- Earnings include an other income of Rs.304 Cr.
* 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.
Peer comparison
Sector: Aerospace & Defence Industry: Miscellaneous
Part of BSE 400 MidSmallCap Index Nifty 500 Multicap 50:25:25 BSE 150 MidCap Index Nifty India Manufacturing Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,680 | 1,798 | 1,583 | 1,990 | 2,059 | 2,355 | 2,966 | 3,422 | 2,819 | 3,190 | 2,330 | 3,645 | 4,102 | |
1,327 | 1,381 | 1,493 | 1,598 | 1,669 | 1,890 | 2,392 | 2,708 | 2,092 | 2,555 | 2,057 | 2,760 | 3,196 | |
Operating Profit | 353 | 417 | 90 | 393 | 390 | 465 | 574 | 714 | 727 | 635 | 273 | 885 | 906 |
OPM % | 21% | 23% | 6% | 20% | 19% | 20% | 19% | 21% | 26% | 20% | 12% | 24% | 22% |
87 | 61 | 77 | 107 | 154 | 189 | 227 | 247 | 194 | 266 | 268 | 307 | 304 | |
Interest | 23 | 20 | 19 | 12 | 12 | 12 | 15 | 50 | 57 | 53 | 42 | 42 | 32 |
Depreciation | 19 | 25 | 38 | 37 | 39 | 38 | 34 | 49 | 53 | 54 | 51 | 57 | 75 |
Profit before tax | 397 | 433 | 110 | 450 | 493 | 605 | 751 | 863 | 811 | 794 | 448 | 1,094 | 1,103 |
Tax % | 33% | 35% | 37% | 35% | 35% | 34% | 36% | 26% | 25% | 26% | 25% | 26% | |
266 | 282 | 69 | 292 | 322 | 397 | 481 | 638 | 610 | 587 | 334 | 813 | 823 | |
EPS in Rs | 11.75 | 12.43 | 3.06 | 12.88 | 14.19 | 14.59 | 18.29 | 24.24 | 23.19 | 22.29 | 12.71 | 30.91 | 31.28 |
Dividend Payout % | 6% | 6% | 25% | 30% | 32% | 41% | 36% | 34% | 33% | 38% | 67% | 32% |
Compounded Sales Growth | |
---|---|
10 Years: | 7% |
5 Years: | 4% |
3 Years: | 9% |
TTM: | 37% |
Compounded Profit Growth | |
---|---|
10 Years: | 11% |
5 Years: | 11% |
3 Years: | 10% |
TTM: | 50% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 51% |
3 Years: | 106% |
1 Year: | 44% |
Return on Equity | |
---|---|
10 Years: | 14% |
5 Years: | 14% |
3 Years: | 13% |
Last Year: | 17% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 113 | 113 | 113 | 113 | 113 | 136 | 132 | 132 | 132 | 132 | 132 | 132 | 132 |
Reserves | 1,112 | 1,376 | 1,441 | 1,711 | 1,915 | 3,120 | 3,201 | 3,600 | 3,846 | 4,228 | 4,292 | 4,894 | 5,183 |
0 | 334 | 123 | 123 | 123 | 123 | 123 | 123 | 532 | 546 | 567 | 489 | 487 | |
1,175 | 1,164 | 1,214 | 1,402 | 1,170 | 2,103 | 1,793 | 2,554 | 2,893 | 3,413 | 4,919 | 6,366 | 6,285 | |
Total Liabilities | 2,401 | 2,987 | 2,891 | 3,349 | 3,321 | 5,482 | 5,248 | 6,409 | 7,403 | 8,318 | 9,909 | 11,880 | 12,086 |
240 | 370 | 370 | 370 | 371 | 349 | 375 | 756 | 756 | 740 | 716 | 722 | 1,460 | |
CWIP | 138 | 8 | 13 | 24 | 54 | 115 | 341 | 768 | 1,062 | 1,247 | 1,603 | 2,189 | 1,712 |
Investments | 0 | 0 | 0 | 0 | 0 | 16 | 60 | 65 | 214 | 262 | 336 | 355 | 356 |
2,022 | 2,609 | 2,508 | 2,954 | 2,897 | 5,001 | 4,472 | 4,819 | 5,371 | 6,069 | 7,254 | 8,614 | 8,558 | |
Total Assets | 2,401 | 2,987 | 2,891 | 3,349 | 3,321 | 5,482 | 5,248 | 6,409 | 7,403 | 8,318 | 9,909 | 11,880 | 12,086 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-25 | -584 | 663 | 40 | 212 | 632 | -448 | 253 | 670 | 1,415 | 2,051 | -173 | |
-103 | 15 | 16 | 47 | 65 | -1,328 | 1,044 | -74 | -446 | -1,011 | -226 | 478 | |
-77 | 271 | -235 | -32 | -113 | 812 | -409 | -309 | -405 | -238 | -272 | -371 | |
Net Cash Flow | -205 | -298 | 444 | 55 | 165 | 116 | 186 | -130 | -181 | 166 | 1,553 | -65 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 149 | 244 | 134 | 83 | 54 | 90 | 48 | 31 | 46 | 50 | 52 | 34 |
Inventory Days | 157 | 177 | 113 | 81 | 70 | 98 | 70 | 65 | 130 | 65 | 116 | 215 |
Days Payable | 62 | 77 | 64 | 74 | 59 | 83 | 84 | 85 | 130 | 37 | 69 | 95 |
Cash Conversion Cycle | 244 | 345 | 184 | 91 | 66 | 104 | 34 | 10 | 46 | 78 | 99 | 154 |
Working Capital Days | 2 | 274 | -71 | -95 | -57 | -114 | -27 | 9 | -2 | -88 | -402 | -170 |
ROCE % | 38% | 30% | 7% | 26% | 25% | 22% | 22% | 25% | 21% | 18% | 9% | 22% |
Documents
Announcements
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Business Updates - Memorandum Of Understanding With A.P. Moller - Maersk To Explore Ship Repair, Maintenance & Shipbuilding In India.
17 Feb - Cochin Shipyard signs MoU with A.P. Moller - Maersk.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
7 Feb - Copies of newspaper advertisements - Unaudited Standalone and Consolidated Financial Results
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Integrated Filing (Financial)
6 Feb - Cochin Shipyard announces unaudited financial results for Q3 2024.
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02Nd Interim Dividend 2024-25 - Communication On Tax Deduction At Source (TDS) On Dividend Payout
6 Feb - Cochin Shipyard declares 2nd interim dividend of Rs. 3.50.
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Corporate Action-Board approves Dividend
6 Feb - Approved Q3 results and declared interim dividend of Rs 3.50.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Sep 2024TranscriptNotesPPT
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Jun 2024Transcript PPT
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Feb 2024TranscriptPPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Sep 2023TranscriptNotesPPT
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Jun 2023Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Jul 2021Transcript PPT
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Dec 2020Transcript PPT
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Aug 2020Transcript PPT
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Jul 2020Transcript PPT
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Jun 2020TranscriptNotesPPT
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Feb 2020Transcript PPT
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Nov 2019TranscriptNotesPPT
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Aug 2019Transcript PPT
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Jun 2019Transcript PPT
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Feb 2019TranscriptNotesPPT
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Nov 2018TranscriptNotesPPT
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Aug 2018TranscriptNotesPPT
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Aug 2018TranscriptNotesPPT
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Aug 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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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]