Cochin Shipyard Signs ₹200 Crore Contract with ONGC for Jack-Up Rig Repairs

Written by: Team Angel OneUpdated on: 18 Sept 2025, 5:02 pm IST

Cochin Shipyard signed a ₹200 crore contract with ONGC for dry dock and major lay-up repairs of a jack-up rig, to be completed within 12 months.

Cochin Shipyard Limited (CSL) has signed a contract with Oil and Natural Gas Corporation Limited (ONGC) for carrying out dry dock and major lay-up repairs of one of ONGC’s jack-up rigs. The agreement, announced on September 17, 2025, is valued at about ₹200 crore. The project is scheduled to be completed within 12 months

Scope of Work

The order involves repair, refurbishment, and maintenance of the jack-up rig to meet ONGC’s readiness and safety requirements. CSL will use its dry dock and engineering facilities for the contract. The company confirmed that the deal does not fall under related-party transactions and that none of its promoters or group companies have any interest in ONGC

Industry Context

The contract adds to CSL’s order book, which includes defence vessel construction, tug projects, and offshore-related work. Offshore servicing remains an important segment as India continues to focus on strengthening its oil and gas infrastructure.

Cochin Shipyard Q1FY26 Earnings Results

In its financial update released on August 12, CSL reported a net profit of ₹187.8 crore for the quarter ended June 2025, compared to ₹174 crore a year earlier, marking a 7.9% rise. Revenue grew 38.5% year-on-year to ₹1,068 crore from ₹771.5 crore. EBITDA stood at ₹241.3 crore against ₹177.8 crore last year, though margins eased slightly to 22.5% from 23%.

Cochin Shipyard Share Price Performance

As of September 18, 2025, 09:30 AM, Cochin Shipyard share price was trading at ₹1.904.40, a 0.79% increase from the previous closing price.

Conclusion

The ₹200 crore order from ONGC provides Cochin Shipyard with a year-long project in the offshore segment, adding momentum to its existing portfolio of shipbuilding and repair contracts.

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Published on: Sep 18, 2025, 10:50 AM IST

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