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Cochin Shipyard Q1 FY27 Share Price & Earnings Call Analysis

₹1,155.80+2.29% today
Market cap
₹30,407 Cr
P/E
51.45
ROE
11.19%
PEG
1.68
Price to sales
7.17
Debt to equity
0.27
52W high / low
₹1,815 / ₹1,124
Sales growth (5Y)
8.85%
EBITDA margin
14.14%
Net profit margin
14.95%
Promoter holding
63.33%
Sales (last year)
₹4,240 Cr

Incorporated in the year 1972, Cochin Shipyard Limited(CSL) is a leading player in construction of all kinds of vessels, repairs and refits of all types of vessels including periodic upgradation and life extension of ships. CSL has built & repaired some of the largest ships for its esteemed customers across the globe. It has exported some 45 ships to various clients outside India. It has developed its expertise from building bulk carriers to smaller ships and ships which are more advanced in terms of technology such as Platform Supply vessels, Anchor Handling Tug Supply Vessels. [1]

Guidance scorecard · Q1 FY27 call

What Cochin Shipyard's management guided
and where it ranks in Industrial Manufacturing

#43of 56 in
Industrial Manufacturing
Revenue10–20%MarginsFlatCapexPlannedFundraisingPlannedOrder bookRising

RevenueQ1 FY27 call

10–20%
  • 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.

2 more points from Cochin Shipyard's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Cochin Shipyard said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • 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.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Cochin Shipyard said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • 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.
  • Commercial orders include MR tankers (~INR 1,700 crores) and Aframax tankers (~INR 2,600 crores).

2 more points from Cochin Shipyard's call on the order book

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Full Q1 FY27 analysis
Full Industrial Manufacturing ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Manufacturing
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Cochin Shipyard rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Manufacturing companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹1,207 Cr111.0
240%+Up 0–2%₹549 Cr33.8
340%+Flat₹8,076 Cr94.4
440%+Flat₹3,732 Cr81.2
540%+Flat₹2,580 Cr61.2
640%+Flat₹743 Cr43.6

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Cochin Shipyard announcements

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Financials of Cochin Shipyard

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Cochin Shipyard

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +6004761,0121,0561,2867711,1431,1481,7581,0691,1191,3501,484
Expenses +6673978217469985949469101,4928271,0451,1641,175
Operating Profit-677919131028817719723726624174187310
OPM %-11%17%19%29%22%23%17%21%15%23%7%14%21%
Other Income +1338489588084101471575412771157
Interest-19108779111212202832
Depreciation11171920191926322734313332
Profit before tax57137251340342236263242384250150197403
Tax %30%28%28%28%24%26%28%27%25%25%28%26%31%
Net Profit +3999182244259174189177287188108145276
EPS in Rs1.503.756.909.299.846.627.186.7310.927.144.095.5010.51

Financials of Cochin Shipyard

Profit & Loss

Annual income statement trend

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +2,3552,9663,4222,8193,1912,3653,8304,8205,022
Expenses +1,8912,3942,7112,0962,5642,1032,9493,9254,210
Operating Profit465571711723627262882895811
OPM %20%19%21%26%20%11%23%19%16%
Other Income +189226245203260269310389410
Interest121550585343465592
Depreciation38344960686975103130
Profit before tax6047488588087664181,0711,125999
Tax %34%36%26%25%26%27%27%26%28%
Net Profit +396478632609564305783827717
EPS in Rs14.5818.1724.0223.1321.4411.5829.7731.4527.24
Dividend Payout %41%36%35%34%39%73%33%31%6%

Financials of Cochin Shipyard

Balance Sheet

Capital structure and asset base

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital136132132132132132132132132
Reserves3,1203,1973,5913,9024,2624,2964,8725,4485,741
Borrowings +1231231235405545875025601,672
Other Liabilities +2,1091,7992,5652,9763,4675,0066,5317,2536,986
Total Liabilities5,4875,2516,4117,5498,41410,02112,03713,39314,531
Fixed Assets +3493767648679709539683,0473,164
CWIP1213427991,1761,2641,6192,196516586
Investments00000000113
Other Assets +5,0174,5324,8485,5066,1807,4498,8739,83010,667
Total Assets5,4875,2516,4117,5498,41410,02112,03713,39314,531

Financials of Cochin Shipyard

Cash Flows

Operating, investing and financing cash movement

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +631-4512537101,3981,889-172-297-1,234
Cash from Investing Activity +-1,3121,074-97-443-1,007-35481538327
Cash from Financing Activity +812-409-309-405-239-276-371-277696
Net Cash Flow131214-154-1381521,578-62-36-211
Free Cash Flow556-738-2422801,1351,553-805-792-1,385
CFO/OP169%-44%61%113%247%765%2%-17%-136%

Financials of Cochin Shipyard

Ratios

Working capital efficiency and return ratios

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days904831465052291731
Inventory Days98706513967122216323379
Days Payable83848513038719886159
Cash Conversion Cycle10434105479103147255250
Working Capital Days-114-279-8-95-423-168-5517
ROCE %22%25%20%17%8%21%20%16%

Guidance history

How Cochin Shipyard's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedPlannedRising
Q1 FY26 call →10–20%Down 0–2%Planned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

6out of 100

Momentum score · price trend

6 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−35.9%16%
Last 6 months−33.3%5%
Last 3 months−17.6%23%

The price is 59.3% below its all-time high of ₹2,837.6 (5 Jul 2024). Stocks more than 20% below their peak have their score halved, so 13 became 6.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Cochin Shipyard: 0.4 × 16 + 0.4 × 5 + 0.2 × 23 = 13, halved to 6 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Cochin Shipyard's management said in earlier quarters

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