Cochin Shipyard is getting the mojo back with improvement in the top line and better margins

Cochin Shipyard is getting the mojo back with improvement in the top line and better margins

by 5paisa Research Team Last Updated: Nov 12, 2021, 05:16 PM IST

Cochin Shipyard, one of India’s top 10 public sector undertakings and which is also the first greenfield and presently the most modern shipbuilding yard in India, has an enviable reputation for building high-quality ships.

CSL has been rated excellent by the Government of India, four times in a row for achieving the targets set for the yard under the MOU system. Cochin Shipyard basically has two major business segments - shipbuilding and ship repair.

Cochin Shipyard has declared its quarterly result for the period ended September 30, 2021. Consolidated revenue from operations for the quarter Q2FY22 came in at Rs 696.14 crore as against Rs 657.4 crore in the corresponding quarter last year, gaining a growth of 5.89%. Revenue was also up by 111.32% on a QoQ basis. The EBITDA increased by 31.27% and stood at Rs 164.41 crore as against Rs 125.24 crore a year ago. The EBITDA margins improved by 457 bps YoY from 23.62 to 19.05% in Q2FY22. PAT also improved by 22.53% YoY to Rs 131.31 crore. PAT margins improved by 256 bps YoY from 16.3 to 18.86% in Q2FY22.

Shipbuilding constituted around 75% share in total revenues for the quarter at Rs 55505.08crores. followed by ship repairs constituting around 19% of total revenue at Rs 14109.37crores.EBITA from these segments contributed 83.34% and 9.63% respectively for the quarter.

After combating the effects of Pandemic induced lockdown in the first quarter which negatively impacted its operations the company has revived itself in the second quarter. The company has a strong order book size of around Rs 20,000 crore, which includes private, government and navy shipbuilding and ship repairs.

The shares of the company today touched a high of Rs 383 and closed  at Rs 371.50 with a loss of 0.70 per cent today.

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SENSEX
54,252.53
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