Cochin Shipyard Ltd

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

Cochin Shipyard Ltd

₹ 1,352 1.95%
26 Apr 4:02 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 ₹ 35,570 Cr.
  • Current Price ₹ 1,352
  • High / Low ₹ 1,377 / 234
  • Stock P/E 68.0
  • Book Value ₹ 179
  • Dividend Yield 0.61 %
  • ROCE 8.03 %
  • ROE 5.89 %
  • Face Value ₹ 5.00
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Pros

  • Company has been maintaining a healthy dividend payout of 38.6%

Cons

  • Stock is trading at 7.47 times its book value
  • The company has delivered a poor sales growth of 0.08% over past five years.
  • Company has a low return on equity of 11.4% over last 3 years.
  • Earnings include an other income of Rs.364 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
749 1,080 329 696 953 1,212 441 683 642 600 476 1,012 1,056
433 823 308 532 812 916 409 548 493 667 397 821 746
Operating Profit 316 258 21 164 141 296 32 135 148 -67 79 191 310
OPM % 42% 24% 6% 24% 15% 24% 7% 20% 23% -11% 17% 19% 29%
15 81 48 42 63 107 56 62 23 133 84 89 58
Interest 12 17 12 12 12 12 12 12 12 -1 9 10 8
Depreciation 17 17 17 17 18 18 19 20 19 11 17 19 20
Profit before tax 302 304 40 177 175 374 56 165 140 57 137 251 340
Tax % 26% 22% 28% 26% 26% 27% 25% 32% 21% 30% 28% 28% 28%
224 236 29 131 129 275 42 113 110 39 99 182 244
EPS in Rs 8.51 8.98 1.09 4.99 4.92 10.44 1.60 4.29 4.20 1.50 3.75 6.90 9.29
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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 TTM
2,355 2,966 3,422 2,819 3,191 2,365 3,144
1,891 2,394 2,711 2,096 2,564 2,103 2,631
Operating Profit 465 571 711 723 627 262 513
OPM % 20% 19% 21% 26% 20% 11% 16%
189 226 245 203 260 269 364
Interest 12 15 50 58 53 43 25
Depreciation 38 34 49 60 68 69 66
Profit before tax 604 748 858 808 766 418 785
Tax % 34% 36% 26% 25% 26% 27%
396 478 632 609 564 305 564
EPS in Rs 14.58 18.17 24.02 23.13 21.44 11.58 21.44
Dividend Payout % 41% 36% 35% 34% 39% 43%
Compounded Sales Growth
10 Years: %
5 Years: 0%
3 Years: -12%
TTM: 6%
Compounded Profit Growth
10 Years: %
5 Years: -8%
3 Years: -26%
TTM: -4%
Stock Price CAGR
10 Years: %
5 Years: 48%
3 Years: 95%
1 Year: 431%
Return on Equity
10 Years: %
5 Years: 13%
3 Years: 11%
Last Year: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 136 132 132 132 132 132 132
Reserves 3,120 3,197 3,591 3,902 4,262 4,296 4,571
123 123 123 540 554 587 606
2,109 1,799 2,565 2,976 3,467 5,006 5,649
Total Liabilities 5,487 5,251 6,411 7,549 8,414 10,021 10,958
349 376 764 867 970 953 970
CWIP 121 342 799 1,176 1,264 1,619 1,968
Investments 0 0 0 0 0 0 0
5,017 4,532 4,848 5,506 6,180 7,449 8,020
Total Assets 5,487 5,251 6,411 7,549 8,414 10,021 10,958

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
631 -451 253 710 1,398 1,889
-1,312 1,074 -97 -443 -1,007 -35
812 -409 -309 -405 -239 -276
Net Cash Flow 131 214 -154 -138 152 1,578

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 90 48 31 46 50 52
Inventory Days 98 70 65 139 67 122
Days Payable 83 84 85 130 38 71
Cash Conversion Cycle 104 34 10 54 79 103
Working Capital Days -114 -27 9 -5 -92 -399
ROCE % 22% 25% 20% 17% 8%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86%
3.02% 3.09% 3.10% 2.73% 2.75% 3.68% 6.87% 6.28% 5.73% 5.82% 4.11% 5.23%
5.94% 4.54% 4.11% 4.29% 4.37% 4.96% 3.87% 3.78% 3.21% 2.24% 2.20% 2.45%
18.18% 19.50% 19.93% 20.12% 20.02% 18.48% 16.39% 17.07% 18.19% 19.07% 20.84% 19.47%
No. of Shareholders 1,64,2991,67,7751,67,8101,71,0901,70,1001,64,5041,69,2571,69,2641,80,9792,66,4372,92,2123,96,327

* 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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