Cochin Shipyard Limited is an India-based company that is engaged in the shipbuilding and ship repair business. 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. Cochin Shipyard Limited (CSL) has been conferred as 'Schedule A' Category-I CPSE under the Ministry of Shipping Govt. of India in July 2023. As at March 31 2024 the Government of India holds 72.86% of equity share capital in the Company.
The company operates as a premier shipbuilding and ship repair facility in India, positioned strategically to serve both domestic and international markets. 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 built and delivered 21 large vessels, 35 offshore support vessels, 93 small & medium vessels and 31 defence vessels as of FY23.
Cochin Shipyard is into shipbuilding (Defence, Commercial & Offshore), Ship repair, Marine Engineering Training and Strategic & Advanced Solutions. The company has established itself as a key player in multiple segments of the maritime industry.
Its shipbuilding products include defense, such as aircraft carriers, fast patrol vessels, hydrographic survey vessels, offshore patrol vessels and pollution control vessels; commercial, such as oil tankers, bulk carriers, dredgers, Ro-Pax vessels, specialized fishing vessels and marine ambulance, and offshore, such as platform supply vessels, anchor handling/tug supply vessels and multi-purpose vessels.
On the repair side, its ship repair services include maintenance and repairs of aircraft carriers and other defense vessels, and repairs and maintenance of tankers, bulk carriers, all kinds of commercial and specialized vessels. The company has diversified its expertise to handle vessels of various sizes and complexities, from smaller ships to advanced technology vessels.
On an annual basis, the total revenue of Cochin Shipyard spiked 24.2% to ₹4,908 crore in FY25 as compared to ₹3,953 crore in FY24. Profit after tax of the company, however, grew only 3.7% YoY to ₹843 crore during FY25. The company has demonstrated robust operational capabilities despite facing some margin pressures.
For the most recent quarter, the revenue of Cochin Shipyard went up 38.5% YoY to ₹1,807 crore during Q4 FY25 as compared to ₹1,305 crore generated in Q4 FY24. Profit for the company also grew 7.6% to ₹285 crore in the quarter against ₹265 crore recorded a year ago.
- Market Cap: ₹54,124 crore
- Revenue FY25: ₹4,908 crore
- Net Profit FY25: ₹843 crore
- Q4 FY25 Net Profit: ₹287.19 crore (up 10.94% YoY)
- Promoter Holding: 67.9%
- Dividend FY25: ₹2.25 per equity share (final dividend)
As of December 2024, the company's order book was recorded at ₹21,784 crore, which is more than 4x of its total annual revenue worth ₹4,908 crore during FY25. This substantial order book provides strong revenue visibility for the coming years and reflects the company's ability to secure long-term contracts.
The proactive approach to project selection and innovation, coupled with a strong order book of INR 22,000 crores, positions CSL favorably for sustained growth over the next several years.
The company operates through two primary segments with distinct performance characteristics. Ship repair revenue grew 178% YoY to ₹836 crore, forming 50.7% of total operating revenue, while ship-building revenue declined 12% YoY to ₹815 crore. This shift in revenue composition demonstrates the company's diversified capabilities and its ability to capitalize on different market opportunities.
It also started ship repairing services in 1982 and does upgrades and repairs for all types of ships, including ships for the oil exploration industry. The ship repair segment has shown particularly strong growth, reflecting increased demand for maintenance and upgrade services.
The company plans a ₹2,800 crore investment in expansion. This significant capital investment demonstrates management's confidence in the company's growth prospects and its commitment to expanding operational capabilities.
The company is strategically focused on enhancing its operational capabilities, with the new ISRF facility set to boost ship repair capacity and revenue. Recent developments include strategic partnerships and capacity expansion initiatives that position the company for future growth.
Part of BSE 500 BSE Capital Goods BSE PSU Nifty 500 BSE SmallCap Nifty Midcap 100 Nifty 200 Nifty CPSE BSE CPSE BSE Allcap BSE Industrials BSE SmallCap Select Index BSE 150 MidCap Index BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index Nifty LargeMidcap 250 Nifty Midcap 150 Nifty MidSmallcap 400 Nifty 500 Multicap 50:25:25 Nifty India Manufacturing Nifty Total Market Nifty India Defence Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted - the company is part of multiple prestigious indices, reflecting its significant market presence and investment appeal.
Cochin Shipyard Limited held the keel laying ceremony for the eighth anti-submarine warfare ship for the Indian Navy, showcasing India's advanced shipbuilding capabilities under the Aatmanirbhar Bharat initiative. This demonstrates the company's critical role in India's defense manufacturing ecosystem.
The company has repaid ₹100 crore non-convertible bonds during December 2023, which accounted for 81% of its total long-term debt in FY23. Additionally, it has not taken any long-term debt in the first nine months of FY25, which led to an improved debt-to-EBITDA ratio of 0.17x in FY24 against 0.41x in FY23.
The company has also announced that its board of directors has recommended a final dividend of ₹2.25 per equity share of face value ₹5 each for the financial year 2024–25. This comes in addition to an interim dividend of ₹3.50 per share declared on 6 February 2025, and another interim dividend of ₹4.00 per share declared on 7 November 2024.
The company maintains a balanced approach to capital allocation, focusing on debt reduction while maintaining shareholder returns through regular dividend payments. This financial discipline, combined with its strong order book and operational capabilities, positions Cochin Shipyard as a significant player in India's maritime and defense sectors.
