Cochin Shipyard Q4 Result 2024: Profit shoots up nearly 7-fold, declares dividend of ₹2.25/share

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 27th May 2024 - 07:41 am

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Synopsis

The company's operational revenue surged by 114.33%, reaching ₹1,286 crore compared to ₹600 crore in the previous year. On the BSE, shares of Cochin Shipyard Ltd. closed at ₹1,910.95, marking a gain of ₹16.65 or 0.88%.

Quarter Result Performance

Cochin Shipyard Ltd (CSL), a government-owned enterprise, reported a significant increase of 558.823% in its net profit for the fourth quarter (Q4) of the fiscal year ending March 31, 2024, reaching ₹258.9 crore.

Cochin Shipyard announced a net profit of ₹39.3 crore in the most recent quarter, according to a regulatory filing. This represents a significant increase in revenue, which jumped 114.33% to ₹1,286 crore compared to ₹600 crore in the same period last year.

The company experienced a significant turnaround at the operating level, with EBITDA soaring to ₹288.3 crore in the fourth quarter of the current fiscal year. This represents a dramatic improvement from a loss of ₹67.1 crore in the same period of the previous fiscal year. EBITDA, or earnings before interest, tax, depreciation, and amortisation, is a key indicator of a company's operational profitability.

The company's board has proposed a final dividend of ₹2.25 per equity share, which has a face value of ₹5. This dividend is for the financial year 2023-24 and is subject to shareholder approval at the upcoming annual general meeting (AGM). If approved, the dividend will be paid within 30 days of the AGM.

About Cochin Shipyard Ltd

Cochin Shipyard stands out as a leading shipbuilding and repair facility in India. Its infrastructure seamlessly blends economy, scale, and flexibility, further enhanced by ISO 9001 accreditation. The shipyard also boasts a dedicated area for offshore construction, paving the way for future expansion.

Cochin Shipyard is a leading player in shipbuilding and ship repair, serving both domestic and international clients. The company holds the 'Miniratna' status, is categorized as a Schedule-“B”, Category-I Central Public Sector Enterprise (CPSE), and is incorporated and headquartered in India as a public limited company.

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