Cochin Shipyard Limited (COCHINSHIP)

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Cochin Shipyard Limited (COCHINSHIP) · mywealthgrid

About

Cochin Shipyard Limited operates in ship building and allied services within industrials. With a market cap of ₹39,372.92 Cr and standalone quarterly revenue ranging from ₹977 Cr to ₹1,214 Cr, it is a mid-scale player in a capital-intensive, project-driven business. Operating margins show significant volatility (6.59% to 23.9% recent quarters), typical of shipbuilding's execution-dependent cycles.

Founded: 1972
Face value: ₹5

Market cap

₹33,861 Cr

P/E

49.8×

P/B

5.8×

Dividend yield

0.7%

ROE

12.5%

ROCE

17.2%

Debt / equity

0.19

OPM

16.2%

EPS (TTM)

₹25.9

Book value

₹223.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation concerns: PE of 54.95 is elevated; verify if current profitability levels are sustainable or represent a cycle peak

Margin compression vulnerability: OPM fell sharply to 6.59% in Sep 2025 from 23.9% in Jun 2025; verify root cause and recurrence risk

Revenue lumpiness: quarterly standalone revenue varies significantly (₹977–₹1,214 Cr); verify contract pipeline and order book visibility

Cyclical industry exposure: shipbuilding is sensitive to global shipping demand and capex cycles; verify order backlog depth and contract duration

Generated analysis · source review pending

Growth drivers

Operating margin recovery: OPM improved from 6.59% (Sep 2025) to 18.1% (Mar 2026), indicating execution improvement and favorable project mix

Financial flexibility for growth capex: D/E of 0.19 provides capacity to invest in capacity and modernization typical in the sector

Earnings acceleration: standalone EPS nearly doubled from ₹4.09 (Sep 2025) to ₹8.23 (Mar 2026)

Revenue recovery trend: standalone revenue grew from ₹977.42 Cr (Jun 2025) to ₹1,213.6 Cr (Mar 2026); verify if driven by new order intake or completion of project cycle

Generated analysis · source review pending

2,253 historical price candles were omitted because the exchange source has not been verified.

₹1,287.0-5.3%1Y

Quick read

rule-based

Pros

+Comfortable interest coverage of 11.8×
+Dividend payout of 34.8% of profit
+High promoter holding of 67.9% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

44/100

Business quality: 55
Growth: 56
Valuation: 22

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY 200 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3,422	2,819	3,191	2,365	3,830	4,820	5,022
COGS	1,796	1,220	1,615	1,120	1,735	2,129	2,203
Gross profit	1,626	1,599	1,576	1,244	2,095	2,691	2,819
	920	883	953	991	1,227	1,813	2,007
	706	716	623	253	869	878	811
OPM %	20.6%	25.4%	19.5%	10.7%	22.7%	18.2%	16.2%
Depreciation	49	60	70	69	75	103	130
Interest	45	51	47	35	33	39	92
	245	203	260	269	310	389	410
Profit before tax	858	808	766	418	1,071	1,125	999
Tax	226	199	202	114	288	298	282
Tax %	26.3%	24.7%	26.4%	27.2%	26.9%	26.5%	28.3%
	632	609	564	305	783	827	717
PAT margin %	18.5%	21.6%	17.7%	12.9%	20.5%	17.2%	14.3%
EPS (₹)	48.1	46.3	42.9	23.2	29.8	31.5	27.2
EPS adjusted (₹)	24	23.1	21.4	11.6	29.8	31.5	27.2
	34.6%	33.5%	39.1%	73.4%	46.2%	31%	33%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	136	132	132	132	132	132	132	132	132
Reserves	3,120	3,197	3,591	3,902	4,262	4,296	4,872	5,448	5,741
Minority interest	6	5	—	—	—	—	—	—	—
	123	123	123	123	126	133	23	69	1,099
	2,099	1,789	2,561	3,363	3,895	5,460	7,048	7,751	7,559
Total equity & liabilities	5,483	5,246	6,407	7,519	8,414	10,021	12,074	13,399	14,531
	349	376	764	867	970	953	968	3,047	3,164
CWIP	121	342	799	1,176	1,241	1,603	2,195	515	586
Investments	0	0	0	0	0	0	0	0	113
	5,014	4,528	4,844	5,476	6,203	7,465	8,911	9,837	10,668
Total assets	5,483	5,246	6,407	7,519	8,414	10,021	12,074	13,399	14,531

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Ship building	3,365.57	672.95	10,353.31	6,146.45	4,206.86	16
Ship Repair	1,656.3	429.41

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	47.5%	56.7%	49.4%	52.6%	54.7%	55.8%	56.1%
EBITDA margin %	20.6%	25.4%	19.5%	10.7%	22.7%	18.2%	16.2%
EBIT margin %	19.2%	23.3%	17.3%	7.8%	20.7%	16.1%	13.6%
PAT margin %	18.5%	21.6%	17.7%	12.9%	20.5%	17.2%	14.3%
Working capital
Receivable days	31	46	50	52	34	17	31
Inventory days	64	130	67	122	216	323	379
Payable days	85	130	38	71	104	86	159
NWC days	9	45	79	103	145	255	250
Leverage
Current ratio	2.05	1.72	1.69	1.39	1.32	1.33	1.33
Debt to EBITDA	0.17	0.17	0.2	0.52	0.03	0.08	1.35
Debt to equity	0.03	0.03	0.03	0.03	0	0.01	0.19
Interest coverage	20.1	16.5	17.3	11.2	33.2	30.2	11.8
Asset turnover	0.53	0.37	0.38	0.24	0.32	0.36	0.35
Return ratios
Return on assets %	9.9%	8.1%	6.7%	3%	6.5%	6.2%	4.9%
Return on capital employed %	21.2%	19.2%	17.1%	8%	21.2%	20%	17.2%
Return on equity %	17%	15.1%	12.8%	6.9%	15.7%	14.8%	12.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.86%	72.86%	72.86%	72.86%	72.86%	67.91%	67.91%	67.91%	67.91%	67.91%	67.91%	67.91%
	5.81%	4.1%	5.23%	4.94%	3.84%	2.91%	2.87%	3.87%	3.22%	2.73%	3.1%	2.83%
	2.25%	2.21%	2.45%	2.5%	3.01%	6.63%	6.82%	6.32%	6.48%	6.47%	6.05%	6.96%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	19.08%	20.83%	19.46%	19.7%	20.29%	22.55%	22.4%	21.9%	22.39%	22.89%	22.94%	22.3%
No. of shareholders	—	—	—	—	—	—	—	—	10,03,930	9,90,291	9,86,156	9,66,293

Promoter holding down 4.95 percentage points since Sep 2023.

66 deals · 11 Jul 2023 – 19 May 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 May 2025	AAKRAYA RESEARCH LLP	Bulk	NSE	Sell	13,50,579	₹2,051.86	₹277.12 Cr
19 May 2025	AAKRAYA RESEARCH LLP	Bulk	NSE	Buy	13,50,579	₹2,050.89	₹276.99 Cr
16 May 2025	AAKRAYA RESEARCH LLP	Bulk	NSE	Sell	13,71,533	₹1,999.77	₹274.28 Cr
16 May 2025	AAKRAYA RESEARCH LLP	Bulk	NSE	Buy	13,71,533	₹1,998.39	₹274.09 Cr
24 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	15,56,699	₹1,968.10	₹306.37 Cr
24 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	15,56,699	₹1,966.53	₹306.13 Cr
23 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	13,74,048	₹1,795.70	₹246.74 Cr
23 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	13,74,048	₹1,794.76	₹246.61 Cr
21 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	14,57,837	₹1,570.62	₹228.97 Cr
21 May 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	14,57,837	₹1,569.96	₹228.87 Cr

1–10 of 66

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Mr. VALIYAPARAMBIL JACOB JOSEExecutive Director-Chairperson-MD
Mr. SANKARANARAYANAPILLAI HARIKRISHNANExecutive Director
Mr. RAJESH GOPALAKRISHNANExecutive Director
Mr. SIVAPERUMAL VENKATESAPATHYNon-Executive - Nominee Director
Mr. PULLICHALIL BAVA NOOHNon-Executive - Nominee Director
Mr. Mukesh MangalNon-Executive - Nominee Director
Mrs. SEEMA SURINon-Executive - Independent Director
Mrs. Anupama T. V.Non-Executive - Nominee Director
Mr. Syamkamal NCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹1,315.0 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹1,308.9	+3.7	+0.3%	₹1,308.9	15,807	+121	1,640	400
23 Nov 2026	₹1,301.8	-0.8	-0.1%	₹1,301.8	400	+55	264	400
29 Dec 2026	₹1,299.6	-79.9	-5.8%	₹1,299.6	33	+33	35	400

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

31

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	1,120

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 12 fund houses

Held by these funds

of the company's equity

All mutual funds

2.45%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

48 schemes · 12 fund houses

		Shares
CPSE ETF	Nippon India Mutual Fund	24.07 L	363.48	1.91%	0.915%	+2,681
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	11.62 L	175.47	3.17%	0.442%	+29,429
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	2.85 L	43.02	3.17%	0.108%	-1,537
Arbitrage FundNEW	SBI Mutual Fund	2.6 L	39.2	0.08%	0.099%	—
Mid Cap Fund	Baroda BNP Paribas Mutual Fund	1.95 L	29.45	1.11%	0.074%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	82,201	12.41	0.3%	0.031%	+2,906
ETF Nifty Midcap 150	Nippon India Mutual Fund	80,728	12.19	0.3%	0.031%	+4,786
Arbitrage FundNEW	Nippon India Mutual Fund	80,000	12.08	0.07%	0.03%	—

1–8 of 48

1 / 6

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

31 announcementsExport CSV

7 Sept 2026, 5:09 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	47.5%	56.7%	49.4%	52.6%	54.7%	55.8%	56.1%
EBITDA margin %	20.6%	25.4%	19.5%	10.7%	22.7%	18.2%	16.2%
EBIT margin %	19.2%	23.3%	17.3%	7.8%	20.7%	16.1%	13.6%
PAT margin %	18.5%	21.6%	17.7%	12.9%	20.5%	17.2%	14.3%
Working capital
Receivable days	31	46	50	52	34	17	31
Inventory days	64	130	67	122	216	323	379
Payable days	85	130	38	71	104	86	159
NWC days	9	45	79	103	145	255	250
Leverage
Current ratio	2.05	1.72	1.69	1.39	1.32	1.33	1.33
Debt to EBITDA	0.17	0.17	0.2	0.52	0.03	0.08	1.35
Debt to equity	0.03	0.03	0.03	0.03	0	0.01	0.19
Interest coverage	20.1	16.5	17.3	11.2	33.2	30.2	11.8
Asset turnover	0.53	0.37	0.38	0.24	0.32	0.36	0.35
Return ratios
Return on assets %	9.9%	8.1%	6.7%	3%	6.5%	6.2%	4.9%
Return on capital employed %	21.2%	19.2%	17.1%	8%	21.2%	20%	17.2%
Return on equity %	17%	15.1%	12.8%	6.9%	15.7%	14.8%	12.2%

Calls	Strike	Puts
0	0	0	₹0.0	1,120

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Mazagon Dock Shipbuilders LimitedMAZDOCKMAZDOCK	₹83,262 Cr	₹83,702 Cr	₹13,323 Cr	₹2,571 Cr	17.4%	₹2,854 Cr	19.8%	32.3%	29.2%	-21
Cochin Shipyard LimitedCOCHINSHIPCOCHINSHIP	₹33,861 Cr	₹34,960 Cr	₹5,047 Cr	₹763 Cr	16.2%	₹680 Cr	14.3%	17.2%	12.5%	250
Swan Defence And Heavy Industries LimitedSWANDEFSWANDEF	₹14,325 Cr	₹17,050 Cr	₹312 Cr	₹-299 Cr	-109.8%	₹-237 Cr	-80.1%	-7.9%	-123.7%	725
Laxmipati Engineering Works LtdLAXMIPATILAXMIPATI	₹249 Cr	—	₹72 Cr	₹13 Cr	17.5%	₹27 Cr	37.6%	—	—	—
Hariyana Ship Breakers LtdHRYNSHPHRYNSHP	₹61 Cr	₹64 Cr	₹169 Cr	₹3 Cr	2%	₹2 Cr	1.1%	4.5%	1.4%	—

Date	Category	Subject	Filing
7 Sept 2026, 5:09 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
5 Sept 2026, 1:27 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
4 Sept 2026, 11:29 am	Corp. Action Record Date	Intimation Of Record Date For Payment Of Final Dividend For FY 2025-26	PDF
4 Sept 2026, 11:12 am	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF
4 Sept 2026, 11:05 am	AGM/EGM AGM	Notice Of The 54Th AGM Of Cochin Shipyard Limited Scheduled On September 29, 2026.	PDF
4 Sept 2026, 10:56 am	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
2 Sept 2026, 2:53 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
27 Aug 2026, 1:04 pm	Company Update General	Disclosure Pursuant To Regulation 30 Of The SEBI LODR Regulations	PDF

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	253	789	1,397	1,889	-172	-297	-1,234
	-97	-522	-472	-35	1,056	538	327
	-309	-405	-239	-276	-371	-277	696
Net cash flow	-154	-138	686	1,578	513	-36	-211
Free cash flow	215	736	1,223	1,844	-202	-700	-1,304
CFO / Operating profit %	35.8%	110.3%	224.4%	745.3%	-19.8%	-33.8%	-152.1%

Cochin Shipyard Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

3

31

Fund holders

Documents

Announcements

Events

Announcements

3

31

Announcements

Annual reports

Investor Presentation and earnings call

22

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Ship Repair · revenue

Cochin Shipyard Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Option chain31

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain31

Announcements

Annual reports

Investor Presentation and earnings call

Dividends22

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ship Repair · revenue

3

31

3

31

22

1

1