Cochin Shipyard Ltd Share Price – NSE  /  BSE

Aerospace & Defence, Small Cap

Udupi Cochin Shipyard (UCSL), a wholly owned subsidiary of Cochin Shipyard (CSL), wins a prestigious international order from Wilson ASA, Norway, for Design and Construction of 4 nos. of 6300 TDW Dry Cargo Vessels.

Agreement has also been entered into for additional 4 vessels of the same type which will be formally contracted within September 19, 2024. This is a follow up order in continuation of the contract awarded in June 2023 for Design and Construction of six 3800 TDW Dry Cargo Vessels which are now at advanced levels of construction at the yard at Udupi, Karnataka.

The Vessel is of 100 Meters length and has a deadweight of 6300 Metric Tonnes at a design draft of 6.5 Metres. The Vessels shall be designed by Conoship International, Netherlands and shall be constructed as an environment friendly diesel electric vessel for the transport of general cargo in the coastal waters of Europe.

The overall project of 8 vessels is worth about Rs. 1,100 crore and is to be executed within September 2028.

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Cochin Shipyard announced that its wholly owned subsidiary, Udupi Cochin Shipyard has bagged another order from its existing customer and leading Indian tug operator, Ocean Sparkle (OSL), an Adani Harbor Services Limited Company. The contract, for construction of three ASD (Azimuthing Stern Drive) Tugs of 70 T Bollard Pull Power. As per the company's order classification, the value of the order ranges between Rs 100 crore to Rs 250 crore.

UCSL had earlier contracted construction of two 62 T bollard pull ASD tugs for OSL. Both these tugs were delivered by UCSL before contractual delivery dates, and have been deployed by OSL at Paradeep Port and New Mangalore Port.

These new 70 Tonne Bollard Pull Tugs will have a length of 33 Mtr, Beam of 12.2 Mtr and Draft of 4.2 Mtr. They will be propelled by two Main Engines of 1838 kW, Thrusters of 2.7 Mtr Dia, Diesel Generators of 150 kW, Forward Towing Winch, Aft Winch, Deck Crane (3T) and External Fire Fighting System (FIFI-1 - 2800 Cu Mtr per Hr). These tugs, designed by Robert Allan Limited, world's leading design house for harbour tugs, will be built under Indian Flag and classed with the Indian Register of Shipping (IRS).

They will confirm to the ASTDS (Approved Standard Tug Design and Specifications), promulgated by the Government of India, in line with Aatmanirbhar Bharat and Make in India initiatives. UCSL is the first shipyard to contract and construct tugs confirming to ASTDS.

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Revenue from operations zoomed 114.31% to Rs 1,286.05 crore in the March quarter as against Rs 600.09 crore reported in the same period a year ago.

Profit before tax (PBT) soared to Rs 342.32 in Q4 FY24, as compared with Rs 56.57 crore posted in Q4 FY23.

The company's revenue from ship building segment was at Rs 985.16 crore (up 117.07% YoY) and income from ship repair division came in at Rs 300.89 crore (up 105.75% YoY).

On a full year basis, the company’s consolidated net profit surged 157.06% to Rs 783.28 crore on 61.99% jump in revenue to Rs 3,830.45 crore in FY24 over FY23.

Meanwhile, the company’s board has recommended a final dividend of Rs 2.25 per share for FY24, subject to the approval of the shareholders. The dividend would be paid within 30 days from the date of its declaration at the AGM.

Cochin Shipyard is engaged in shipbuilding & ship repair. As on 31 March 2024, the Government of India held 72.86% total voting right in the company.

Shares of Cochin Shipyard has hit an all-time high of Rs 2,034 in today’s intraday session.

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Revenue from operations zoomed 114.31% to Rs 1,286.05 crore in the March quarter as against Rs 600.09 crore reported in the same period a year ago.

Profit before tax (PBT) soared to Rs 342.32 in Q4 FY24, as compared with Rs 56.57 crore posted in Q4 FY23.

The company's revenue from ship building segment was at Rs 985.16 crore (up 117.07% YoY) and income from ship repair division came in at Rs 300.89 crore (up 105.75% YoY).

On a full year basis, the company’s consolidated net profit surged 157.06% to Rs 783.28 crore on 61.99% jump in revenue to Rs 3,830.45 crore in FY24 over FY23.

Meanwhile, the company’s board has recommended a final dividend of Rs 2.25 per share for FY24, subject to the approval of the shareholders. The dividend would be paid within 30 days from the date of its declaration at the AGM.

Cochin Shipyard is engaged in shipbuilding & ship repair. As on 31 March 2024, the Government of India held 72.86% total voting right in the company.

The scrip rose 0.88% to end at Rs 1,910.95 on Friday, 24 May 2024.

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