Cochin Shipyard Ltd

Cochin Shipyard Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Cochin Shipyard Ltd

₹ 1,445 -1.10%
12 Mar 4:01 p.m.
cochinshipyard.com BSE: 540678 NSE: COCHINSHIP
About

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]

Key Points

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]

Website BSE NSE
  • Market Cap ₹ 38,005 Cr.
  • Current Price ₹ 1,445
  • High / Low ₹ 2,547 / 1,223
  • Stock P/E 52.3
  • Book Value ₹ 217
  • Dividend Yield 0.68 %
  • ROCE 20.3 %
  • ROE 15.6 %
  • Face Value ₹ 5.00
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Pros

  • Company has been maintaining a healthy dividend payout of 45.7%
  • Debtor days have improved from 32.8 to 17.3 days.

Cons

  • The company has delivered a poor sales growth of 7.09% over past five years.
  • Company has a low return on equity of 13.0% over last 3 years.
  • Earnings include an other income of Rs.410 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.

Peer comparison

Industrials Capital Goods Industrial Manufacturing Ship Building & Allied Services

Part of BSE 500 BSE Capital Goods BSE PSU Nifty 500 Nifty Midcap 100

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
642 600 476 1,012 1,056 1,286 771 1,143 1,148 1,758 1,069 1,119 1,350
493 667 397 821 746 998 594 946 910 1,492 827 1,045 1,164
Operating Profit 148 -67 79 191 310 288 177 197 237 266 241 74 187
OPM % 23% -11% 17% 19% 29% 22% 23% 17% 21% 15% 23% 7% 14%
23 133 84 89 58 80 84 101 47 157 54 127 71
Interest 12 -1 9 10 8 7 7 9 11 12 12 20 28
Depreciation 19 11 17 19 20 19 19 26 32 27 34 31 33
Profit before tax 140 57 137 251 340 342 236 263 242 384 250 150 197
Tax % 21% 30% 28% 28% 28% 24% 26% 28% 27% 25% 25% 28% 26%
110 39 99 182 244 259 174 189 177 287 188 108 145
EPS in Rs 4.20 1.50 3.75 6.90 9.29 9.84 6.62 7.18 6.73 10.92 7.14 4.09 5.50
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
2,355 2,966 3,422 2,819 3,191 2,365 3,830 4,820 5,295
1,891 2,394 2,711 2,096 2,564 2,103 2,949 3,925 4,528
Operating Profit 465 571 711 723 627 262 882 895 767
OPM % 20% 19% 21% 26% 20% 11% 23% 19% 14%
189 226 245 203 260 269 310 389 410
Interest 12 15 50 58 53 43 46 55 72
Depreciation 38 34 49 60 68 69 75 103 125
Profit before tax 604 748 858 808 766 418 1,071 1,125 980
Tax % 34% 36% 26% 25% 26% 27% 27% 26%
396 478 632 609 564 305 783 827 727
EPS in Rs 14.58 18.17 24.02 23.13 21.44 11.58 29.77 31.45 27.65
Dividend Payout % 41% 36% 35% 34% 39% 73% 33% 31%
Compounded Sales Growth
10 Years: %
5 Years: 7%
3 Years: 15%
TTM: 22%
Compounded Profit Growth
10 Years: %
5 Years: 6%
3 Years: 13%
TTM: -9%
Stock Price CAGR
10 Years: %
5 Years: 50%
3 Years: 86%
1 Year: 14%
Return on Equity
10 Years: %
5 Years: 13%
3 Years: 13%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 136 132 132 132 132 132 132 132 132
Reserves 3,120 3,197 3,591 3,902 4,262 4,296 4,872 5,448 5,566
123 123 123 540 554 587 502 560 1,156
2,109 1,799 2,565 2,976 3,467 5,006 6,531 7,253 7,399
Total Liabilities 5,487 5,251 6,411 7,549 8,414 10,021 12,037 13,393 14,253
349 376 764 867 970 953 968 3,047 3,167
CWIP 121 342 799 1,176 1,264 1,619 2,196 516 578
Investments 0 0 0 0 0 0 0 0 0
5,017 4,532 4,848 5,506 6,180 7,449 8,873 9,830 10,507
Total Assets 5,487 5,251 6,411 7,549 8,414 10,021 12,037 13,393 14,253

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
631 -451 253 710 1,398 1,889 -172 -297
-1,312 1,074 -97 -443 -1,007 -35 481 538
812 -409 -309 -405 -239 -276 -371 -277
Net Cash Flow 131 214 -154 -138 152 1,578 -62 -36

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 90 48 31 46 50 52 29 17
Inventory Days 98 70 65 139 67 122 216 323
Days Payable 83 84 85 130 38 71 98 86
Cash Conversion Cycle 104 34 10 54 79 103 147 255
Working Capital Days -114 -27 9 -8 -95 -423 -168 -55
ROCE % 22% 25% 20% 17% 8% 21% 20%

Insights

In beta
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Ship Repair Revenue (Operational)
Rs. Crore

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Consolidated Order Book (Balance Unexecuted)
Rs. Crore
Shipbuilding Revenue (Operational)
Rs. Crore

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 67.91% 67.91% 67.91% 67.91% 67.91%
6.28% 5.73% 5.82% 4.11% 5.23% 4.94% 3.84% 2.91% 2.88% 3.87% 3.22% 2.74%
3.78% 3.21% 2.24% 2.20% 2.45% 2.50% 3.00% 6.63% 6.82% 6.33% 6.48% 6.47%
17.07% 18.19% 19.07% 20.84% 19.47% 19.71% 20.31% 22.54% 22.39% 21.90% 22.38% 22.88%
No. of Shareholders 1,69,2641,80,9792,66,4372,92,2123,96,3276,34,0758,41,9689,81,56710,11,97010,11,54110,03,9309,90,291

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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