Cochin Shipyard Limited has formalised a joint venture with HBL Engineering Limited to focus on developing electric mobility and energy storage solutions for the maritime sector.
The agreement marks a collaborative step towards building capabilities in emerging marine technologies. The partnership aims to address evolving industry requirements while supporting broader sustainability initiatives.
Cochin Shipyard Limited has entered into a joint venture agreement with HBL Engineering Limited. The agreement was executed on 25 March 2026 following earlier board approval for the proposal.
The collaboration is aimed at forming a new joint venture company to undertake activities in the maritime technology space.
The proposed joint venture will focus on developing electric mobility technologies and energy storage solutions for marine applications. These solutions are intended to cater to both domestic and international markets.
The initiative reflects increasing attention towards alternative propulsion systems and energy efficiency within the maritime sector.
The joint venture company will be incorporated under the name Green Maritime Propulsion Private Limited, with its registered office in Hyderabad.
Under the agreed structure, HBL Engineering Limited will hold a 60% stake, while Cochin Shipyard Limited will hold the remaining 40%. The initial capital of the venture will be ₹9 crore, divided into equity shares subscribed by both parties.
The joint venture will be managed by a board comprising five directors. HBL Engineering will nominate three directors, including the managing director or chief executive officer, while Cochin Shipyard will nominate two directors, including the chairman.
The management team will oversee the day-to-day operations, subject to the supervision of the board.
The collaboration is intended to combine the technical and operational capabilities of both companies. The objective is to develop solutions aligned with evolving trends in maritime electrification and energy storage.
The initiative also supports broader efforts to strengthen domestic manufacturing and technology development in line with national priorities.
Shares of Cochin Shipyard Limited closed at ₹1,317.40 on 25 March 2026, reflecting a gain of ₹12.30 or 0.94% compared to the previous close of ₹1,305.10.
During the session, the stock opened at ₹1,328.00 and moved within a range of ₹1,310.00 to ₹1,352.40.
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The joint venture between Cochin Shipyard and HBL Engineering represents a step towards expanding capabilities in maritime electric mobility. As the sector moves towards alternative energy solutions, such partnerships may play a role in shaping future developments in marine technology.
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Published on: Mar 25, 2026, 3:57 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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