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Cochin Shipyard

COCHINSHIP NSE
₹1,237.50 +36.50 (+3.04%)
P/E
47.85
View as Markdown
MCP
Close 4 Nov 2026 ₹1,237.50 −465.20 −27.3% 1Y
Start ₹1,702.70

Key Fundamentals

SmallcapIndustrial ManufacturingCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
16.20%
Debt to Equity
0.28
EPS (TTM)
₹25.86
Book Value
₹223.23
Market Cap
—
P/E (TTM)
47.85
P/B
5.54
ROE
12.50%
Dividend Yield
0.75%
EBITDA
₹1,221 Cr
52W High
₹1,842.80
52W Low
₹1,101.20
Day Range
₹1,192.60 – ₹1,237.80
Volume
7,59,371

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

36 Poor

Data confidence 98/100

Category scores

Quality
24
Poor
Returns, margins, earnings quality 22% weight
Valuation
59
Good
Cheap vs sector & own history 24% weight
Growth
9
Poor
Sales & profit trajectory 9% weight
Financial Health
19
Poor
Solvency, leverage, coverage 9% weight
Momentum
12
Poor
Trend strength, vol-adjusted 12% weight
Ownership
55
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 32.3%

Weaknesses

2
  • Promoter holding has decreased over last quarter: -4.58%
  • Earnings include an other income of Rs.423 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish946
OscillatorsBearish342
Moving AveragesStrong Bearish604

Key readings

RSI (14)
51.17
Neutral
MACD (12,26,9)
−42.47
Bullish
SMA (50)
1,332.11
Bearish
SMA (200)
1,446.09
Bearish

As of

Analyst Rating

Based on 3 analysts
TIED33%

1 of 3 analysts rate Buy, 1 Hold, 1 Sell.

As of

BUY
1
33%
HOLD
1
33%
SELL
1
33%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+12.24%
3Y+28.53%
1Y+4.19%
TTM−1.39%

Net profit

Net profit growth by window
5Y+3.32%
3Y+32.97%
1Y−13.30%
TTM−19.14%

Operating cash flow

Operating cash flow growth by window
5YTurned negative
3YTurned negative
1YOutflow widened by ₹950 Cr
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y−9.10 pp
3Y+5.47 pp
1Y−2.02 pp
TTM−3.25 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2018₹2,355 Cr
Mar 2019₹2,966 Cr
Mar 2020₹3,422 Cr
Mar 2021₹2,819 Cr
Mar 2022₹3,191 Cr
Mar 2023₹2,365 Cr
Mar 2024₹3,830 Cr
Mar 2025₹4,820 Cr
Mar 2026₹5,022 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2018₹396 Cr
Mar 2019₹478 Cr
Mar 2020₹632 Cr
Mar 2021₹609 Cr
Mar 2022₹564 Cr
Mar 2023₹305 Cr
Mar 2024₹783 Cr
Mar 2025₹827 Cr
Mar 2026₹717 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹211 Cr −18.8% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

Cochin Shipyard Ltd trades at ₹1,201 as of 2026-11-03 with a market cap of ₹31,425 Cr and a PE of 46.44x. The company delivered strong 3-year profit CAGR of 40% but TTM profit has declined 19%, and the stock is down 38% from its 52-week high of ₹1,842.8, reflecting a period of earnings contraction after a multi-year growth phase.

Bull Case 8
  • Strong 3-year compounded profit growth of 40% indicates a robust medium-term earnings trajectory driven by order execution in defence and commercial shipbuilding.
  • 3-year compounded sales growth of 29% demonstrates consistent revenue scale-up from a growing order book in India's expanding maritime sector.
  • Low debt-to-equity ratio of 0.28 as of 2026-11-03 reflects a conservatively financed balance sheet, reducing financial risk in a capital-intensive industry.
  • ROCE of 16.66% signals efficient deployment of capital, which is notable for a shipyard business with long gestation project cycles.
  • Healthy dividend payout of 32.3% with a dividend yield of 0.77% provides some income cushion and signals management confidence in cash flow sustainability.
  • 5-year stock CAGR of 45% reflects significant long-term wealth creation for shareholders, underpinned by India's indigenous shipbuilding push.
  • 5-year compounded sales growth of 12% shows the company has maintained a steady upward revenue trajectory even across business cycles.
  • 3-year average ROE of 15% is respectable for a public sector capital goods company, suggesting consistent profitability relative to equity base.
Bear Case 7
  • TTM profit has declined 19%, a sharp reversal from the 3-year CAGR of 40%, raising questions about the sustainability of the prior earnings surge.
  • PE of 46.44x as of 2026-11-03 is elevated for a capital goods company with contracting TTM earnings, implying the stock prices in significant future growth that may not materialise.
  • Earnings include other income of ₹423 Cr, meaning a material portion of reported profit is non-operational, which flatters the headline EPS of ₹25.86.
  • Promoter holding has decreased by 4.58% over the last quarter, which can signal dilution or reduced promoter confidence at current levels.
  • The stock trades 35% below its 52-week high of ₹1,842.8 and only 9% above its 52-week low of ₹1,101.2, indicating sustained downward momentum.
  • TTM sales growth is flat at -1%, suggesting order execution and revenue recognition have plateaued in the near term.
  • 5-year compounded profit growth of only 4% contrasts sharply with the 3-year figure of 40%, indicating that the profit surge is recent and not a long-term established trend.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Cochin Shipyard is firing on all cylinders with a record order book approaching ₹27,300 crore, heavy defence pipeline, and strong international demand from Europe. The ₹6,000 crore capex plan and ISRF JV with Drydocks World signal long-term capacity building. No material headwinds are visible in the current news cycle. The key forward risk is execution on large capex projects and timely conversion of L1 status into signed contracts.

Positives 6
  • Record order book ₹27,300 Cr Oct 08

    CSL's order book stands at ₹22,300 crore and is set to reach ₹27,300 crore once a ₹5,000 crore contract for five Next Generation Survey Vessels for the Indian Navy is formally signed. Defence accounts for ~₹17,000 crore and commercial exports ~₹7,300 crore of the projected book.

  • ₹6,000 Cr expansion planned Oct 08

    CSL is investing ~₹4,000 crore in a steel block fabrication facility at Vallarpadam, Kochi on ~78 leased acres and exploring ~₹2,000 crore at V O Chidambaranar Port, Thoothukudi to expand shipbuilding and repair capacity.

  • 40+ foreign ship orders Oct 08

    CSL has over 40 ship orders from countries including the US, Germany, and Norway, with Europe as its main export market. CSL clarified these are part of the existing order book.

Neutral 1
  • Existing orders, not new wins Oct 08

    CSL clarified that the 40 foreign ship orders highlighted by the Shipping Minister were already part of the existing order book, not incremental new business.

Quarterly Results

₹ Cr
COCHINSHIP quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
476
1,012
1,056
1,286
771
1,143
1,148
1,758
1,069
1,119
1,350
1,484
1,094
Expenses
397
821
746
998
594
946
910
1,492
827
1,045
1,164
1,175
901
Operating Profit
79
191
310
288
177
197
237
266
241
74
187
310
193
OPM %
17%
19%
29%
22%
23%
17%
21%
15%
23%
7%
14%
21%
18%
Other Income
84
89
58
80
84
101
47
157
54
127
71
157
67
Interest
9
10
8
7
7
9
11
12
12
20
28
32
25
Depreciation
17
19
20
19
19
26
32
27
34
31
33
32
32
PBT
137
251
340
342
236
263
242
384
250
150
197
403
202
Tax %
28%
28%
28%
24%
26%
28%
27%
25%
25%
28%
26%
31%
25%
Net Profit
99
182
244
259
174
189
177
287
188
108
145
276
151
EPS (₹)
3.75
6.9
9.29
9.84
6.62
7.18
6.73
10.92
7.14
4.09
5.5
10.51
5.76

Profit & Loss

₹ Cr
COCHINSHIP profit and loss, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,355
2,966
3,422
2,819
3,191
2,365
3,830
4,820
5,022
5,047
Expenses
1,891
2,394
2,711
2,096
2,564
2,103
2,949
3,925
4,190
4,284
Operating Profit
465
571
711
723
627
262
882
895
831
763
OPM %
20%
19%
21%
26%
20%
11%
23%
19%
17%
15%
Other Income
189
226
245
203
260
269
310
389
410
423
Interest
12
15
50
58
53
43
46
55
111
106
Depreciation
38
34
49
60
68
69
75
103
130
128
PBT
604
748
858
808
766
418
1,071
1,125
999
952
Tax %
34%
36%
26%
25%
26%
27%
27%
26%
28%
—
Net Profit
396
478
632
609
564
305
783
827
717
680
EPS (₹)
14.58
18.17
24.02
23.13
21.44
11.58
29.77
31.45
27.24
25.86
Div. Payout %
41%
36%
35%
34%
39%
73%
33%
31%
33%
—

Balance Sheet

₹ Cr
COCHINSHIP balance sheet, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
136
132
132
132
132
132
132
132
132
Reserves
3,120
3,197
3,591
3,902
4,262
4,296
4,872
5,448
5,741
Borrowings
123
123
123
540
554
587
502
560
1,672
Other Liabilities
2,109
1,799
2,565
2,976
3,467
5,006
6,531
7,253
6,986
Total Liabilities
5,487
5,251
6,411
7,549
8,414
10,021
12,037
13,393
14,531
Fixed Assets
349
376
764
867
970
953
968
3,047
3,164
CWIP
121
342
799
1,176
1,264
1,619
2,196
516
587
Investments
0
0
0
0
0
0
0
0
113
Other Assets
5,017
4,532
4,848
5,506
6,180
7,449
8,873
9,830
10,667
Total Assets
5,487
5,251
6,411
7,549
8,414
10,021
12,037
13,393
14,531

Cash Flow

₹ Cr
COCHINSHIP cash flow, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
631
−451
253
710
1,398
1,889
−172
−284
−1,234
Investing
−1,312
1,074
−97
−443
−1,007
−35
481
538
327
Financing
812
−409
−309
−405
−239
−276
−371
−243
696
Net Cash Flow
131
214
−154
−138
152
1,578
−62
10
−211
Free Cash Flow
556
−738
−242
280
1,135
1,553
−805
−541
−1,385
CFO/EBITDA
169
−44
61
113
247
765
2
−15
−133

Ratios

COCHINSHIP financial ratios, annual
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
90
48
31
46
50
52
29
17
31
Inventory Days
98
70
65
139
67
122
216
325
379
Days Payable
83
84
85
130
38
71
98
85
159
Cash Conversion Cycle
104
34
10
54
79
103
147
257
250
Working Capital Days
−114
−27
9
−8
−95
−423
−168
−54
16
ROCE %
—
22%
25%
20%
17%
8%
21%
20%
16%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Cochin Shipyard insights

66 extracted metrics across FY08–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 63.33%
  • Public 19.98%
  • DIIs 11.25%
  • FIIs 3.07%
  • Others 2.36%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Cochin Shipyard

What does Cochin Shipyard Ltd do?
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.
Where is Cochin Shipyard Ltd (COCHINSHIP) listed?
Cochin Shipyard Ltd trades as COCHINSHIP on the NSE and under code 540678 on the BSE.
Which sector does Cochin Shipyard Ltd belong to?
Cochin Shipyard Ltd is classified under the Capital Goods sector, in the Ship Building industry.
What is the PE ratio of Cochin Shipyard Ltd?
Cochin Shipyard Ltd trades at a PE ratio of 47.85 as of 4 Nov 2026, on earnings per share of ₹25.86, against a book value of ₹223.23 per share.
What is the 52-week high and low of Cochin Shipyard Ltd?
Over the last 52 weeks Cochin Shipyard Ltd has traded between ₹1,101.2 and ₹1,842.8 as of 4 Nov 2026.
Does Cochin Shipyard Ltd pay dividends?
Cochin Shipyard Ltd has a dividend yield of 0.75%.
What is the Return on Equity (ROE) of Cochin Shipyard Ltd?
Cochin Shipyard Ltd reported a return on equity of 12.50%. Its debt-to-equity ratio is 0.28.

Company Information

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.

Website cochinshipyard.com
Employees 2,140
Listed 11 Aug 2017
Face Value ₹5

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