Cochin Shipyard share price hits 5% lower circuit as Q2 margins take a hit

Cochin Shipyard has declared an interim dividend of Rs 4 per equity share of Rs 5 each fully paid up (80 per cent) for FY25

Cochin Shipyard share price: Shipbuilder Cochin Shipyard shares dropped 5 per cent to hit the lower circuit at Rs 1,449.40 per share on Friday, November 08, 2024. 

 

The drop in Cochin Shipyard share price came after the company’s earnings before interest, tax, depreciation and amortisation (Ebitda) margin squeezed 160 basis points (bps) to 17.3 per cent in the September quarter of financial year 2025 (Q2FY25), from 18.9 per cent in the same quarter a year ago (Q2FY24).

 

The company Ebitda, also known as operating profit, soared a little over 3 per cent annually to Rs 197.3 crore in Q2FY25, from 191.2 crore in Q2FY24. 

 

Overall, Cochin Shipyard’s profit climbed 4 per cent year-on-year to Rs 189 crore in Q2Fy25, from Rs 182 crore in Q2FY24. 

 

The topline, or revenue from operations, soared 13 per cent annually to Rs 1,143.2 crore in the September quarter of FY25, from Rs 1,011.7 crore in the September quarter of FY24. 

 

Cochin Shipyard dividend 

Additionally, the company has declared an interim dividend of Rs 4 per equity share of Rs 5 each fully paid up (80 per cent) for the financial year 2024-25. It has fixed Wednesday, November 20, 2024 as the ‘Record Date’ for the interim dividend. 

 

“The aforesaid interim dividend shall be paid to the eligible shareholders on or before December 06, 2024,” Cochin Shipyard said.

 

Founded in 1972, Cochin Shipyard is among the leading players in vessel construction, repair, and refit services, including periodic upgrades and life extensions for ships. 

 

Renowned for its expertise, CSL has built and repaired some of the largest ships for prestigious clients worldwide and has exported approximately 45 vessels internationally. 

 

The company’s experience spans from constructing bulk carriers to advanced technological vessels, including Platform Supply Vessels and Anchor Handling Tug Supply Vessels.

 

The market capitalisation of Cochin Shipyard is Rs 38,409.79 crore, according to BSE. The company falls under the BSE500 category.

 

The 52-week high of the Cochin Shipyard stock is Rs 2,977.10 per share while its 52-week low is Rs 515 per share.

 

At 9:45 AM, Cochin Shipyard share price was trading 4.30 per cent lower at Rs 1,460 per share. In comparison, BSE Sensex was trading 0.05 per cent higher at 79,577.86 levels.