Cochin Shipyard Ltd

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

Cochin Shipyard Ltd

₹ 1,488 -6.70%
18 May 10:24 a.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:[1]
The company is one of the leading shipbuilding & repair yards in India. It has an exclusive area set for offshore construction and future expansion. It was granted Mini-Ratna - 1 status in FY09. The GoI holds a 67.92% stake in the company as of Q3 FY26.[2]

Website BSE NSE
  • Market Cap ₹ 39,154 Cr.
  • Current Price ₹ 1,488
  • High / Low ₹ 2,547 / 1,187
  • Stock P/E 54.6
  • Book Value ₹ 223
  • Dividend Yield 0.63 %
  • ROCE 16.0 %
  • ROE 12.5 %
  • Face Value ₹ 5.00
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Pros

  • Company has been maintaining a healthy dividend payout of 23.1%

Cons

  • Stock is trading at 7.14 times its book value
  • 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

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
600 476 1,012 1,056 1,286 771 1,143 1,148 1,758 1,069 1,119 1,350 1,484
667 397 821 746 998 594 946 910 1,492 827 1,045 1,164 1,175
Operating Profit -67 79 191 310 288 177 197 237 266 241 74 187 310
OPM % -11% 17% 19% 29% 22% 23% 17% 21% 15% 23% 7% 14% 21%
133 84 89 58 80 84 101 47 157 54 127 71 157
Interest -1 9 10 8 7 7 9 11 12 12 20 28 32
Depreciation 11 17 19 20 19 19 26 32 27 34 31 33 32
Profit before tax 57 137 251 340 342 236 263 242 384 250 150 197 403
Tax % 30% 28% 28% 28% 24% 26% 28% 27% 25% 25% 28% 26% 31%
39 99 182 244 259 174 189 177 287 188 108 145 276
EPS in Rs 1.50 3.75 6.90 9.29 9.84 6.62 7.18 6.73 10.92 7.14 4.09 5.50 10.51
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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 Mar 2026
2,355 2,966 3,422 2,819 3,191 2,365 3,830 4,820 5,022
1,891 2,394 2,711 2,096 2,564 2,103 2,949 3,925 4,210
Operating Profit 465 571 711 723 627 262 882 895 811
OPM % 20% 19% 21% 26% 20% 11% 23% 19% 16%
189 226 245 203 260 269 310 389 410
Interest 12 15 50 58 53 43 46 55 92
Depreciation 38 34 49 60 68 69 75 103 130
Profit before tax 604 748 858 808 766 418 1,071 1,125 999
Tax % 34% 36% 26% 25% 26% 27% 27% 26% 28%
396 478 632 609 564 305 783 827 717
EPS in Rs 14.58 18.17 24.02 23.13 21.44 11.58 29.77 31.45 27.24
Dividend Payout % 41% 36% 35% 34% 39% 73% 33% 31% 6%
Compounded Sales Growth
10 Years: %
5 Years: 12%
3 Years: 29%
TTM: 4%
Compounded Profit Growth
10 Years: %
5 Years: 4%
3 Years: 40%
TTM: -13%
Stock Price CAGR
10 Years: %
5 Years: 53%
3 Years: 81%
1 Year: -22%
Return on Equity
10 Years: %
5 Years: 13%
3 Years: 15%
Last Year: 13%

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 Mar 2026
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 5,741
123 123 123 540 554 587 502 560 1,672
2,109 1,799 2,565 2,976 3,467 5,006 6,531 7,253 6,986
Total Liabilities 5,487 5,251 6,411 7,549 8,414 10,021 12,037 13,393 14,531
349 376 764 867 970 953 968 3,047 3,164
CWIP 121 342 799 1,176 1,264 1,619 2,196 516 586
Investments 0 0 0 0 0 0 0 0 113
5,017 4,532 4,848 5,506 6,180 7,449 8,873 9,830 10,667
Total Assets 5,487 5,251 6,411 7,549 8,414 10,021 12,037 13,393 14,531

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 Mar 2026
631 -451 253 710 1,398 1,889 -172 -297 -1,234
-1,312 1,074 -97 -443 -1,007 -35 481 538 327
812 -409 -309 -405 -239 -276 -371 -277 696
Net Cash Flow 131 214 -154 -138 152 1,578 -62 -36 -211
Free Cash Flow 556 -738 -242 280 1,135 1,553 -805 -792 -1,385
CFO/OP 169% -44% 61% 113% 247% 765% 2% -17% -136%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 90 48 31 46 50 52 29 17 31
Inventory Days 98 70 65 139 67 122 216 323 379
Days Payable 83 84 85 130 38 71 98 86 159
Cash Conversion Cycle 104 34 10 54 79 103 147 255 250
Working Capital Days -114 -27 9 -8 -95 -423 -168 -55 17
ROCE % 22% 25% 20% 17% 8% 21% 20% 16%

Insights

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

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

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 67.91% 67.91% 67.91% 67.91% 67.91% 67.91%
5.73% 5.82% 4.11% 5.23% 4.94% 3.84% 2.91% 2.88% 3.87% 3.22% 2.74% 3.10%
3.21% 2.24% 2.20% 2.45% 2.50% 3.00% 6.63% 6.82% 6.33% 6.48% 6.47% 6.05%
18.19% 19.07% 20.84% 19.47% 19.71% 20.31% 22.54% 22.39% 21.90% 22.38% 22.88% 22.95%
No. of Shareholders 1,80,9792,66,4372,92,2123,96,3276,34,0758,41,9689,81,56710,11,97010,11,54110,03,9309,90,2919,86,156

* 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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Documents

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