Cochin Shipyard Ltd logo

Cochin Shipyard Ltd

COCHINSHIP NSE

Key Fundamentals

SmallcapShip BuildingCapital Goods
Market Cap
₹39,141 Cr
Volatility
Moderate
P/E Ratio
57.43
EBITDA
₹811 Cr
Return on Equity
14.83%
Debt to Equity
0.28
Book Value
₹223.23
52W High
₹1,979.9
52W Low
₹1,187

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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56 extracted metrics + investor summaries across FY07–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 23.1%

Weaknesses

2
  • Earnings include an other income of Rs.423 Cr.
  • Promoter holding has decreased over last 3 years: -4.95%

Growth Rate

Revenue Growth
-3.59% ↗
Net Income Growth
12.42% ↗
Cash Flow Change
-72.88% ↘
ROE
-5.30% ↗
ROCE
-4.85% ↗
EBITDA Margin (Avg.)
-38.57% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk medium

Cochin Shipyard Ltd trades at a market cap of ~₹39,854 Cr with a P/E of 55.4x and P/B of 6.76x. FY25 revenue grew ~26% YoY to ₹4,820 Cr, but profit growth moderated to single digits (~3.7% YoY to ~₹843 Cr), and the stock has declined ~11% over the past year despite a strong 3-year CAGR of 64%.

Bull Case 8
  • Order book of ~₹20,342 Cr as of Q3 FY26, with 63% from government and Indian Navy contracts, providing multi-year revenue visibility
  • 3-year revenue CAGR of 29% demonstrates strong topline momentum from shipbuilding and ship-repair segments
  • 3-year profit CAGR of 40% reflects significant operating leverage achieved during the recent upcycle
  • FY25 revenue grew ~26% YoY to ₹4,820 Cr, indicating sustained order execution capability
  • Government's ₹69,725 Cr support package for domestic shipbuilding and a ₹1.5 lakh Cr defence order pipeline creates a large addressable opportunity
  • Consistent dividend payout of 23.1% signals capital discipline and shareholder return focus at a 0.5% yield
  • 3-year ROE averaging 15% indicates efficient capital deployment for a capital goods PSU
  • 5-year stock CAGR of 53% reflects sustained re-rating driven by defence and Make-in-India tailwinds
Bear Case 8
  • P/E of 55.4x is elevated for a capital goods PSU, pricing in significant future growth that may already be discounted
  • TTM profit has declined 13% YoY, indicating margin pressure or execution challenges in recent quarters
  • Other income of ₹410 Cr forms a significant portion of earnings, inflating reported profitability beyond core operations
  • Promoter holding has decreased by 4.95% over 3 years, signalling government stake dilution
  • TTM sales growth has slowed to just 4%, a sharp deceleration from the 3-year CAGR of 29%
  • P/B of 6.76x is rich for a shipbuilding company with lumpy, project-based cash flows
  • 5-year profit CAGR of only 4% shows that the recent profit surge is concentrated in one strong year (FY24), not a sustained trend
  • Stock has fallen ~11% over the past year, underperforming broader indices despite strong order inflows

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 6h ago
Headwinds 2
  • Q1FY27 net profit drops 28% Aug 17

    Net profit fell 28% YoY to ₹1.36 billion while EBITDA declined 31% to ₹1.58 billion. EBITDA margins contracted sharply by 658 bps to 17.32%, signaling significant operational cost pressures.

  • Revenue declines 7% YoY Aug 17

    Q1FY27 revenue fell 7% YoY to ₹9.1 billion, indicating moderate topline weakness alongside margin compression.

Neutral 3
  • Independent director appointed Aug 17

    Dr. Vani Ahluwalia appointed as Non-official Independent Director for three years effective August 17, 2026, by the Ministry of Ports, Shipping and Waterways.

  • CMD charge extended 7 months Jul 29

    Jose V J's additional charge as CMD extended for 7 months from August 1, 2026, pending a permanent appointment.

  • New GM Employee Relations named Aug 11

    Subramanian K K appointed as General Manager (Employee Relations) effective August 11, 2026, following promotion to E7 Level senior management.

TL;DR: Cochin Shipyard faces near-term earnings pressure with a 28% profit decline and 658 bps margin contraction in Q1FY27, driven by operational cost headwinds rather than a severe revenue shortfall. There are no fresh positive catalysts in recent news. Leadership continuity is maintained through the CMD extension, but the lack of a permanent appointment adds mild governance uncertainty. The trend is deteriorating on profitability and investors should watch for cost normalization or order book updates in coming quarters.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
476
1,012
1,056
1,286
771
1,143
1,148
1,758
1,069
1,119
1,350
1,484
1,094
Expenses
397
821
746
998
594
946
910
1,492
827
1,045
1,164
1,175
901
Operating Profit
79
191
310
288
177
197
237
266
241
74
187
310
193
OPM %
17%
19%
29%
22%
23%
17%
21%
15%
23%
7%
14%
21%
18%
Other Income
84
89
58
80
84
101
47
157
54
127
71
157
67
Interest
9
10
8
7
7
9
11
12
12
20
28
32
25
Depreciation
17
19
20
19
19
26
32
27
34
31
33
32
32
PBT
137
251
340
342
236
263
242
384
250
150
197
403
202
Tax %
28%
28%
28%
24%
26%
28%
27%
25%
25%
28%
26%
31%
25%
Net Profit
99
182
244
259
174
189
177
287
188
108
145
276
151
EPS in Rs
3.75
6.9
9.29
9.84
6.62
7.18
6.73
10.92
7.14
4.09
5.5
10.51
5.76
Figures in ₹ Crores

Profit & Loss

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,355
2,966
3,422
2,819
3,191
2,365
3,830
4,820
5,022
5,047
Expenses
1,891
2,394
2,711
2,096
2,564
2,103
2,949
3,925
4,210
4,284
Operating Profit
465
571
711
723
627
262
882
895
811
763
OPM %
20%
19%
21%
26%
20%
11%
23%
19%
16%
15%
Other Income
189
226
245
203
260
269
310
389
410
423
Interest
12
15
50
58
53
43
46
55
92
106
Depreciation
38
34
49
60
68
69
75
103
130
128
PBT
604
748
858
808
766
418
1,071
1,125
999
952
Tax %
34%
36%
26%
25%
26%
27%
27%
26%
28%
—
Net Profit
396
478
632
609
564
305
783
827
717
680
EPS in Rs
14.58
18.17
24.02
23.13
21.44
11.58
29.77
31.45
27.24
25.86
Div. Payout %
41%
36%
35%
34%
39%
73%
33%
31%
6%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Borrowings
123
123
123
540
554
587
502
560
1,672
Other Liabilities
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
Fixed Assets
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
Other Assets
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
Figures in ₹ Crores

Cash Flow

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
631
-451
253
710
1,398
1,889
-172
-297
-1,234
Investing
-1,312
1,074
-97
-443
-1,007
-35
481
538
327
Financing
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
Figures in ₹ Crores

Ratios

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Shareholding Pattern

As of Jun 2026
Promoters 67.92%
Public 19.97%
DIIs 6.96%
FIIs 2.83%
Others 2.32%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
72.86%
67.92%
67.92%
67.92%
67.92%
67.92%
67.92%
67.92%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
5.81%
4.10%
5.23%
4.94%
3.84%
2.91%
2.87%
3.87%
3.22%
2.73%
3.10%
2.83%
DIIs
7.33%
5.91%
4.51%
4.08%
4.26%
4.35%
4.94%
3.87%
3.79%
3.22%
2.25%
2.21%
2.45%
2.50%
3.01%
6.63%
6.82%
6.32%
6.48%
6.47%
6.05%
6.96%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
13.62%
13.77%
15.07%
15.49%
15.96%
16.10%
14.51%
13.16%
13.74%
14.74%
15.84%
16.87%
16.16%
17.14%
18.02%
20.03%
19.76%
19.55%
19.94%
20.39%
20.39%
19.97%
Others
6.19%
7.46%
7.55%
7.57%
6.92%
6.69%
7.69%
10.10%
9.60%
9.18%
3.24%
3.95%
3.29%
2.56%
2.28%
2.52%
2.63%
2.34%
2.45%
2.49%
2.56%
2.32%
No. of Shareholders
0
1,68,284
1,64,299
1,67,775
1,67,810
1,71,090
1,70,100
1,64,504
1,69,264
1,80,979
2,66,437
2,92,212
3,96,327
6,34,075
8,41,968
9,81,567
10,11,970
10,11,540
10,03,930
9,90,291
9,86,156
9,66,293

Documents

1
Concall - Sep 2017 Sep 2017
2
Concall - May 2018 May 2018
3
Concall - May 2018 May 2018
4
Concall - Aug 2018 Aug 2018
5
Concall - Aug 2018 Aug 2018

Frequently Asked Questions about Cochin Shipyard Ltd

What does Cochin Shipyard Ltd do?
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 cust...
Where is Cochin Shipyard Ltd (COCHINSHIP) listed?
Cochin Shipyard Ltd is listed on the Indian stock exchanges. It is listed on NSE: COCHINSHIP and BSE: 540678. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Cochin Shipyard Ltd belong to?
Cochin Shipyard Ltd operates in the Capital Goods sector within the Ship Building industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Cochin Shipyard Ltd?
Cochin Shipyard Ltd has a market capitalisation of approximately ₹39141.16 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Cochin Shipyard Ltd?
The Price-to-Earnings (PE) ratio of Cochin Shipyard Ltd is 57.43. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Cochin Shipyard Ltd?
Over the past 52 weeks, Cochin Shipyard Ltd has traded between a low of ₹1,187 and a high of ₹1,979.9. This range helps investors understand the stock's price volatility and recent trading levels.
Does Cochin Shipyard Ltd pay dividends?
Yes, Cochin Shipyard Ltd has a dividend yield of 0.51%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Cochin Shipyard Ltd?
Cochin Shipyard Ltd has a Return on Equity (ROE) of 14.83%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Cochin Shipyard Ltd on Tapetide?
On Tapetide, you can view Cochin Shipyard Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website cochinshipyard.com
Employees 2,140
Listed 2017-08-11
Face Value ₹ 5
Issued Size 26,30,80,780

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