Shares of Cochin Shipyard were trading high in Wednesday's session. The stock was among the top gainers on the Nifty Midcap 150, gaining 3.85% to trade at Rs 1,891.70. Other top gainers on the Nifty Midcap 150 included Persistent, Dalmia Bharat, Deepak Nitrite and Mazagon Dock.
Financial Highlights
Here's a look at the financial performance of Cochin Shipyard:
Income Statement
The following table presents the consolidated annual income statement:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | Rs 4,819 Crore | Rs 3,830 Crore | Rs 2,364 Crore | Rs 3,190 Crore | Rs 2,818 Crore |
| Other Income | Rs 389 Crore | Rs 310 Crore | Rs 207 Crore | Rs 262 Crore | Rs 190 Crore |
| Total Income | Rs 5,209 Crore | Rs 4,140 Crore | Rs 2,571 Crore | Rs 3,453 Crore | Rs 3,009 Crore |
| Total Expenditure | Rs 4,045 Crore | Rs 3,036 Crore | Rs 2,118 Crore | Rs 2,640 Crore | Rs 2,150 Crore |
| EBIT | Rs 1,163 Crore | Rs 1,104 Crore | Rs 453 Crore | Rs 813 Crore | Rs 859 Crore |
| Interest | Rs 38 Crore | Rs 33 Crore | Rs 35 Crore | Rs 47 Crore | Rs 51 Crore |
| Tax | Rs 297 Crore | Rs 287 Crore | Rs 113 Crore | Rs 201 Crore | Rs 199 Crore |
| Net Profit | Rs 827 Crore | Rs 783 Crore | Rs 304 Crore | Rs 563 Crore | Rs 608 Crore |
The company's revenue for the year-ending March 2025 stood at Rs 4,819.96 Crore, compared to Rs 3,830.45 Crore in the previous year. Net profit for the year-ending March 2025 was Rs 827.33 Crore, up from Rs 783.28 Crore in the previous year.
Quarterly Performance
The following table shows the consolidated quarterly income statement:
| Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | |
|---|---|---|---|---|---|
| Sales | Rs 1,068 Crore | Rs 1,757 Crore | Rs 1,147 Crore | Rs 1,143 Crore | Rs 771 Crore |
| Other Income | Rs 54 Crore | Rs 157 Crore | Rs 46 Crore | Rs 101 Crore | Rs 84 Crore |
| Total Income | Rs 1,122 Crore | Rs 1,914 Crore | Rs 1,194 Crore | Rs 1,244 Crore | Rs 855 Crore |
| Total Expenditure | Rs 861 Crore | Rs 1,518 Crore | Rs 941 Crore | Rs 971 Crore | Rs 613 Crore |
| EBIT | Rs 261 Crore | Rs 395 Crore | Rs 252 Crore | Rs 272 Crore | Rs 242 Crore |
| Interest | Rs 12 Crore | Rs 11 Crore | Rs 10 Crore | Rs 9 Crore | Rs 6 Crore |
| Tax | Rs 61 Crore | Rs 96 Crore | Rs 64 Crore | Rs 74 Crore | Rs 61 Crore |
| Net Profit | Rs 187 Crore | Rs 287 Crore | Rs 176 Crore | Rs 188 Crore | Rs 174 Crore |
The revenue for the quarter-ending June 2025 was Rs 1,068.59 Crore, up from Rs 771.47 Crore in the quarter-ending June 2024. The net profit for the quarter-ending June 2025 was Rs 187.83 Crore, compared to Rs 174.24 Crore for the quarter-ending June 2024.
Balance Sheet
The following table shows the consolidated balance sheet:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | Rs 131 Crore | Rs 131 Crore | Rs 131 Crore | Rs 131 Crore | Rs 131 Crore |
| Reserves & Surplus | Rs 5,447 Crore | Rs 4,871 Crore | Rs 4,296 Crore | Rs 4,261 Crore | Rs 3,901 Crore |
| Current Liabilities | Rs 7,277 Crore | Rs 6,516 Crore | Rs 5,121 Crore | Rs 3,465 Crore | Rs 2,937 Crore |
| Other Liabilities | Rs 542 Crore | Rs 522 Crore | Rs 472 Crore | Rs 555 Crore | Rs 548 Crore |
| Total Liabilities | Rs 13,399 Crore | Rs 12,042 Crore | Rs 10,020 Crore | Rs 8,413 Crore | Rs 7,519 Crore |
| Fixed Assets | Rs 3,562 Crore | Rs 3,163 Crore | Rs 2,571 Crore | Rs 2,234 Crore | Rs 2,043 Crore |
| Current Assets | Rs 9,666 Crore | Rs 8,638 Crore | Rs 7,136 Crore | Rs 5,819 Crore | Rs 5,055 Crore |
| Other Assets | Rs 169 Crore | Rs 240 Crore | Rs 312 Crore | Rs 359 Crore | Rs 420 Crore |
| Total Assets | Rs 13,399 Crore | Rs 12,042 Crore | Rs 10,020 Crore | Rs 8,413 Crore | Rs 7,519 Crore |
| Contingent Liabilities | Rs 0 Crore | Rs 1,922 Crore | Rs 2,116 Crore | Rs 5,063 Crore | Rs 5,163 Crore |
Cash Flow Statement
The following table shows the consolidated cash flow statement:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | Rs -297 Crore | Rs -171 Crore | Rs 1,889 Crore | Rs 1,397 Crore | Rs 789 Crore |
| Investing Activities | Rs 538 Crore | Rs 481 Crore | Rs -35 Crore | Rs -471 Crore | Rs -522 Crore |
| Financing Activities | Rs -276 Crore | Rs -371 Crore | Rs -276 Crore | Rs -238 Crore | Rs -405 Crore |
| Others | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore | Rs 0 Crore |
| Net Cash Flow | Rs -35 Crore | Rs -61 Crore | Rs 1,577 Crore | Rs 686 Crore | Rs -138 Crore |
Financial Ratios
Key financial ratios for Cochin Shipyard are detailed below:
| Ratio | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 31.45 | 29.77 | 23.16 | 42.87 | 46.27 |
| Diluted EPS (Rs.) | 31.45 | 29.77 | 23.16 | 42.87 | 46.27 |
| Book Value / Share (Rs.) | 212.07 | 190.18 | 336.60 | 333.98 | 306.63 |
| Dividend/Share (Rs.) | 9.75 | 9.75 | 17.00 | 16.75 | 15.50 |
| Face Value | 5 | 5 | 10 | 10 | 10 |
| Return on Equity (%) | 14.82 | 15.65 | 6.88 | 12.83 | 15.09 |
| Debt to Equity | 0.01 | 0.00 | 0.03 | 0.03 | 0.03 |
| Current Ratio (X) | 1.33 | 1.33 | 1.39 | 1.68 | 1.72 |
| P/E (x) | 44.77 | 29.28 | 10.27 | 3.43 | 4.04 |
| P/B (x) | 6.63 | 4.58 | 1.41 | 0.88 | 1.22 |
Corporate Actions
The company announced a final dividend of Rs 2.25 per share (45%) on May 15, 2025, with an effective date of September 12, 2025. Additionally, an interim dividend of Rs 3.50 per share (70%) was announced on February 6, 2025, effective February 12, 2025.
Recent announcements include:
- Appointment to Senior Management (September 15, 2025)
- Appointment of Statutory Auditors (September 11, 2025)
- Public notice to shareholders (September 3, 2025)
With the stock trading at Rs 1,891.70, Cochin Shipyard has shown strong performance, reflected in its position as a top gainer on the Nifty Midcap 150.
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