Cochin Shipyard Q4 results: Revenue rose 37%, PAT climbed 11% to Rs 28718 crore; dividends announced
PSU shipbuilding giant Cochin Shipyard reported outstanding performance in the March quarter (FY25 in Q4), with consolidated net profit rising 11% year-on-year to Rs 28.7 crore. Revenue surged 37% to Rs 175.8 crore, compared with Rs 128.6 crore in the same period last year. Strong top-line growth reflects strong execution in defense and commercial shipbuilding projects.
Margin Missed: EBITDA fell 7.6%, OPM slides dropped to 15.1%
Despite outstanding revenue, the operational performance of the Cochin Shipyard has been hit. EBITDA dropped to Rs 266 crore from Rs 28.8 crore a year ago, thus causing a sharp drop in operating margins – from 24.4% to 15.1%. Increased input costs, subcontracting fees and higher overheads are the key to profitability.
Stove stock: 23% of 5 meetings
Shares of Cochin Shipyards have soared 23% over the past five trading days and are inspired by strong revenue and positive sentiment around defense stocks. Investors continue to occupy PSU stock, especially in the defense and marine manufacturing sectors, with Cochin Shipyards being a leading player with strategic visibility.
Dividend announcement: Final expenses of Rs 2.25 per share
To reward shareholders, the board recommends a final dividend of Rs 2.25 per share (Rs 5 face value) for fiscal 25 years. Payments will be made within 30 days of approval after the upcoming annual general meeting. This is an earlier temporary dividend of Rs 2 per share.
Strong orders and growth prospects
The company remains a major beneficiary of India’s Indigenous Defense Push. Management comments remain optimistic, citing a healthy order, long-term shipbuilding contracts, and opportunities on green energy ships. As of March 2025, its joint venture investment and order pipeline continued to support a bullish growth trajectory.
Independent performance: PAT is Rs 28,477 crore
After taxation and deferred tax items, the company independently reported a total revenue of Rs 180,665 crore of Rs 180,666 crore of Rs 180,666 crore and a net profit of Rs 28,477 crore. The total cost is Rs 1,43,031 crore, driven mainly by the cost of raw materials and labor costs.
Analysts bullish: Long-term match on defense
Brokers remain bullish on the Cochin Shipyard, citing the government's focus on indigenous naval capabilities. Through the orders of the Indian Navy, the Coast Guard and foreign customers, the company's orders are good and can ride the capital expenditure wave on national defense.
