Cochin Shipyard Ltd.

NSE: COCHINSHIP · Ship Building & Allied Services

52W Range₹1,187 ₹1,980

Snapshot

Unlock Cochin Shipyard Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Cochin Shipyard Limited is a prominent Indian shipbuilding and repair facility that constructs diverse vessels, including tankers, bulk carriers, and defence ships. The company also provides specialised maintenance services for offshore drilling units and naval aircraft carriers, alongside marine engineering training.

Business Model

The company generates revenue through long-term shipbuilding contracts, vessel repair and maintenance services for both commercial and defence clients, and the provision of professional marine engineering training.

  • Founded:1969

Growth Outlook

Growth is driven by the increasing demand for indigenous naval defence capabilities and the ongoing maintenance requirements of India's commercial and offshore energy fleets.

Key Risks

  • Geopolitical and Defence Dependency. The company's revenue is heavily reliant on Indian government defence contracts, making it vulnerable to shifts in national defence spending and policy.
  • Operational Cost Volatility. Fluctuations in the prices of raw materials, particularly steel, can significantly impact profit margins on fixed-price shipbuilding contracts.
  • Cyclical Industry Demand. The commercial shipbuilding and repair sector is highly cyclical and sensitive to global trade volumes and the health of the shipping industry.
  • Execution Risk. Large-scale shipbuilding projects are subject to complex technical requirements and potential delays, which may lead to cost overruns and liquidated damages.

Price

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Key Metrics

REVENUE

₹5,022 Cr

TTM · consolidated

+4.2%YoY

NET PROFIT

₹717 Cr

TTM · consolidated

-13.4%YoY

EPS

₹27.24

TTM · consolidated

-13.4%YoY

RETURN ON EQUITY

12.7%

TTM · consolidated

-3.4 ppYoY

RETURN ON CAPITAL EMPLOYED

17.5%

TTM · consolidated

-3.0 ppYoY

P/E

51.6x

Q4 FY26 · consolidated

51.6 vs 39.1x5Y avg

EV/EBITDA

31.1x

Q4 FY26 · consolidated

31.1 vs 39.6x5Y avg

EBITDA MARGIN

24.3%

TTM · consolidated

-2.0 ppYoY

NET PROFIT MARGIN

18.6%

Q4 FY26 · consolidated

+2.3 ppYoY

DEBT TO EQUITY

0.2x

Q4 FY26 · consolidated

+0.18xYoY

Peers · Ship Building & Allied Services

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Cochin Shipyard Ltd.COCHINSHIP
34,09551.6531.124.2%24.3%12.7%17.5%-27.4%
Mazagaon Dock Shipbuilders Ltd.MAZDOCK
90,92134.5026.2913.8%27.2%32.8%36.0%-24.0%
Swan Defence and Heavy Industries Ltd.SWANDEF
9,783-119.29-624.96-8.1%-41.0%-3.2%+662.0%

As of Q4 FY26

Financials