Cochin Shipyard Ltd
Cochin Shipyard Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY27 earnings call: what management guided on revenue, margins and order book.
What the Q1 FY27 call signalled
3 of 5 strong
The short version
Vadinar ship repair yard: Turnover expected to start at INR 300 crores, scaling up to INR 500-600 crores in 3 years. Cochin Shipyard targets a conservative annual revenue growth of around 12%, potentially reaching 12-15% depending on orders (Page 14).
From Cochin Shipyard Ltd's Q1 FY27 earnings-call transcript · updated 19 Sept 2026.
Revenue & Sales Performance
- Vadinar ship repair yard: Turnover expected to start at INR 300 crores, scaling up to INR 500-600 crores in 3 years.
- Tuticorin ship repair yard: Currently in DPR stage; expected turnover starting around INR 650-700 crores, scaling up to INR 1,800-2,000 crores over 7-8 years.
- Order book visibility: INR 22,000 crores current unexecuted order book; expected to increase to INR 27,000 crores post next-generation survey vessels order (INR 5,000 crores).
- Domestic naval pipeline includes large potential orders: LPD (INR 32,000 crores for 4 vessels), MCMV (INR 36,000 crores for 12 vessels), and P-17 Bravo (INR 49,000 crores for 7 vessels).
- Domestic commercial sector: Demand aggregation for 432 vessels over 10 years; participation ongoing.
- Block fabrication capacity increasing from 12,000 tons to combined ~72,000 tons per annum with new facility.
- Green Maritime JV targeting INR 640 crores revenue by FY31.
Profitability & Margins
See what Cochin Shipyard Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- CSL is undertaking significant capex of around INR 6,000-6,500 crores over the next 5 years, including:
- - Vadinar ship repair facility with expected turnover scaling from INR 300 crores to INR 600 crores in 3 years.
- - Tuticorin facility (DPR stage) aiming turnover from INR 650-700 crores up to INR 1,800-2,000 crores in 7-8 years.
- - ISRF facility targeting INR 600 crores turnover in 2 years, scaling up to INR 1,200 crores in 5 years.
- - New block fabrication facility at Kochi with 60,000 tons per annum capacity (plus existing 12,000 tons).
- Funding mostly through 80:20 debt-equity ratio.
- Government schemes: 25% capex subsidy under Shipbuilding Development Scheme and 3% interest subvention from Maritime Development Fund.
- Strategic JV with HBL for marine batteries, targeting INR 640 crores revenue by 5th year with 20% EBITDA margin; capital contribution INR 50 crores, focusing on R&D and marketing.
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Cochin Shipyard Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current unexecuted order book stands at around INR 22,000 crores.
- Confirmed L1 status for five Next Generation Survey Vessels (NGSV) for the Indian Navy valued at approximately INR 5,000 crores.
- Upon conclusion of the NGSV contract, order book expected to rise to around INR 27,000 crores.
- Defense side major expected orders:
- - LPD (4 vessels): ~INR 32,000 crores
- - MCMV (12 vessels): ~INR 36,000 crores
- - P-17 Bravo (7 vessels): ~INR 49,000 crores
- Commercial orders include MR tankers (~INR 1,700 crores) and Aframax tankers (~INR 2,600 crores).
- Repeat dredger order with Dredging Corporation of India valued around INR 1,300 crores expected soon.
- Order pipeline strong with participation in multiple tenders including export and commercial segments.
Cochin Shipyard Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.5K Cr, net profit ₹276 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Cochin Shipyard Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Cochin Shipyard Ltd Q1 FY27 results?
Vadinar ship repair yard: Turnover expected to start at INR 300 crores, scaling up to INR 500-600 crores in 3 years. Cochin Shipyard targets a conservative annual revenue growth of around 12%, potentially reaching 12-15% depending on orders (Page 14).
What is Cochin Shipyard Ltd share price analysis?
Cochin Shipyard Ltd currently shows a below-average growth signal. The stock trades at a P/E of 61.5 with a market cap of ₹36,331 Cr. Investors should review the full earnings analysis for detailed insights.
Is Cochin Shipyard Ltd planning capital expenditure?
CSL is undertaking significant capex of around INR 6,000-6,500 crores over the next 5 years, including: - Vadinar ship repair facility with expected turnover scaling from INR 300 crores to INR 600 crores in 3 years.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.