Cochin Shipyard Share Price Rises 5% on Strong Contract Wins in Shipbuilding and Defence

On November 26, 2024, Cochin Shipyard’s share price traded 5% higher at ₹1,431.55 at 10:30 AM on the NSE. The company’s share has increased by 3.95% over the past week as a result of strong contract wins.

New Contract Partnership

On November 22, Cochin Shipyard Limited announced a Memorandum of Understanding (MOU) with Seatrium Letourneau USA, Inc. to work together on designing and providing essential equipment for jack-up rigs targeting the Indian market.

Q2 FY25 Financial Highlight

In Q2 FY25, the consolidated net profit fell by 25.89%, amounting to Rs 149.39 crore, down from Rs 180.89 crore in Q1 FY25. The revenue from operations grew by 13% compared to the previous year, totaling Rs 1,143.20 crore for the quarter ending September 30, 2024.

Total expenses increased by 15.53% YoY, amounting to Rs 980.91 crore. The cost of materials consumed rose by 22.64% YoY, totaling Rs 602.94 crore, while employee benefits expenses grew by 7.82% YoY to Rs 104.23 crore during the same period.

About Cochin Shipyard

Cochin Shipyard is one of India’s premier shipbuilding and ship repair companies, renowned for its extensive experience in constructing and maintaining a wide range of vessels. The company specialises in the design, construction and repair of ships including tankers, bulk carriers, and specialised vessels such as offshore platforms and LNG carriers.

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