Cochin Shipyard Signs MoU With Seatrium Letourneau USA

Cochin Shipyard Ltd. stands as the largest shipbuilding and maintenance facility in India. Located in the port city of Kochi in Kerala, India, it is one of several maritime-related facilities in the area. The shipyard offers a range of services, including the construction of platform supply vessels and double-hulled oil tankers.

Cochin Shipyard Limited entered into an MOU with Seatrium Letourneau USA, Inc

In a filing with the exchange, Cochin Shipyard stated, “We would like to inform you that Cochin Shipyard Limited (CSL) has signed a Memorandum of Understanding (MOU) with Seatrium Letourneau USA, Inc. (SLET) regarding the design and essential equipment for jack-up rigs intended for the Indian market.”

“This alliance leverages CSL’s vast experience in shipbuilding and engineering alongside SLET’s esteemed technical skills and design capabilities, with the goal of seizing opportunities for mobile offshore drilling units (MODUs) tailored to the Indian market. This partnership supports the government’s initiatives under the Make in India program,” the company added.

Cochin Shipyard Ltd. hits the upper circuit

On Monday, shares of Cochin Shipyard reached the maximum limit of 5% after the company signed a Memorandum of Understanding (MoU) with Seatrium Letourneau USA, Inc. (SLET) for the design and essential equipment of jack-up rigs targeting the Indian market. During the trading session, Cochin Shipyard’s stock increased by 5%, bringing it to Rs 1363.40 on the BSE. The company’s market capitalization rose to Rs 35,868 crore, with a total of 0.29 lakh shares exchanged, resulting in a turnover of Rs 3.92 crore in the afternoon trading period on the BSE.

Cochin Shipyard Ltd. delivered 143% return in a year

The multi-bagger stock has provided returns of 100% in 2024 and has increased by 143% over the past year. In a two-year period, the stock has surged by 334.44%.

Q2 FY25 results for Cochin Shipyard Ltd

Cochin Shipyard’s consolidated net profit increased by 4% to Rs 189 crore in the last quarter, compared to a profit of Rs 182 crore in the same quarter of the previous fiscal year. Revenue rose by 13% to Rs 1143.2 crore in Q2, up from Rs 1011.7 crore in the same quarter last year. Additionally, Cochin Shipyard’s EBITDA grew by 3.2% to Rs 197.3 crore in Q2, compared to Rs 191.2 crore in the corresponding quarter of the prior fiscal year.

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