Cochin Shipyard Ltd

Cochin Shipyard Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Cochin Shipyard Ltd

₹ 1,686 1.78%
03 Dec - close price
cochinshipyard.com BSE: 540678 NSE: COCHINSHIP
About

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]

Key Points

Company Overview
Cochin Shipyard is into shipbuilding (Defence, Commercial & Offshore), Ship repair, Marine Engineering Training and Strategic & Advanced Solutions. It has built and delivered 21 large vessels, 35 offshore support vessels, 93 small & medium vessels and 31 defence vessels as of FY23. [1]

Website BSE NSE - BE
  • Market Cap ₹ 44,354 Cr.
  • Current Price ₹ 1,686
  • High / Low ₹ 2,979 / 587
  • Stock P/E 50.0
  • Book Value ₹ 202
  • Dividend Yield 0.58 %
  • ROCE 21.6 %
  • ROE 17.2 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 31.2%
  • Debtor days have improved from 45.1 to 33.5 days.

Cons

  • Stock is trading at 8.34 times its book value
  • The company has delivered a poor sales growth of 4.21% over past five years.
  • Company has a low return on equity of 12.7% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Aerospace & Defence Industry: Miscellaneous

Part of Nifty 500 Multicap 50:25:25 Nifty India Manufacturing BSE 400 MidSmallCap Index Nifty Midcap 150 Nifty Total Market

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
696 953 1,211 440 683 631 577 444 954 1,021 1,225 710 1,097
530 811 912 406 543 477 643 362 759 710 939 527 901
Operating Profit 166 142 299 34 139 154 -66 82 195 311 286 182 196
OPM % 24% 15% 25% 8% 20% 24% -11% 18% 20% 30% 23% 26% 18%
42 64 113 57 61 23 131 84 88 56 79 80 100
Interest 12 12 12 12 12 12 -2 8 9 8 6 6 9
Depreciation 14 14 14 14 15 14 9 13 15 15 14 14 21
Profit before tax 183 181 386 65 174 151 58 145 258 345 345 242 266
Tax % 26% 26% 26% 25% 31% 21% 19% 25% 26% 28% 23% 25% 28%
136 134 284 49 120 118 47 109 191 248 265 181 193
EPS in Rs 5.16 5.11 10.80 1.86 4.55 4.50 1.80 4.16 7.26 9.43 10.06 6.87 7.34
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
1,680 1,798 1,583 1,990 2,059 2,355 2,966 3,422 2,819 3,190 2,330 3,645 4,054
1,327 1,381 1,493 1,598 1,669 1,890 2,392 2,708 2,092 2,555 2,057 2,760 3,078
Operating Profit 353 417 90 393 390 465 574 714 727 635 273 885 976
OPM % 21% 23% 6% 20% 19% 20% 19% 21% 26% 20% 12% 24% 24%
87 61 77 107 154 189 227 247 194 266 268 307 316
Interest 23 20 19 12 12 12 15 50 57 53 42 42 29
Depreciation 19 25 38 37 39 38 34 49 53 54 51 57 64
Profit before tax 397 433 110 450 493 605 751 863 811 794 448 1,094 1,199
Tax % 33% 35% 37% 35% 35% 34% 36% 26% 25% 26% 25% 26%
266 282 69 292 322 397 481 638 610 587 334 813 887
EPS in Rs 11.75 12.43 3.06 12.88 14.19 14.59 18.29 24.24 23.19 22.29 12.71 30.91 33.70
Dividend Payout % 6% 6% 25% 30% 32% 41% 36% 34% 33% 38% 39% 17%
Compounded Sales Growth
10 Years: 7%
5 Years: 4%
3 Years: 9%
TTM: 56%
Compounded Profit Growth
10 Years: 11%
5 Years: 11%
3 Years: 10%
TTM: 112%
Stock Price CAGR
10 Years: %
5 Years: 53%
3 Years: 114%
1 Year: 184%
Return on Equity
10 Years: 14%
5 Years: 14%
3 Years: 13%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 113 113 113 113 113 136 132 132 132 132 132 132 132
Reserves 1,112 1,376 1,441 1,711 1,915 3,120 3,201 3,600 3,846 4,228 4,292 4,894 5,183
0 334 123 123 123 123 123 123 532 546 567 489 487
1,175 1,164 1,214 1,402 1,170 2,103 1,793 2,554 2,893 3,413 4,910 6,366 6,285
Total Liabilities 2,401 2,987 2,891 3,349 3,321 5,482 5,248 6,409 7,403 8,318 9,901 11,880 12,086
240 370 370 370 371 349 375 756 756 740 716 722 1,460
CWIP 138 8 13 24 54 115 341 768 1,062 1,247 1,603 2,189 1,712
Investments 0 0 0 0 0 16 60 65 214 262 336 355 356
2,022 2,609 2,508 2,954 2,897 5,001 4,472 4,819 5,371 6,069 7,245 8,614 8,558
Total Assets 2,401 2,987 2,891 3,349 3,321 5,482 5,248 6,409 7,403 8,318 9,901 11,880 12,086

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-25 -584 663 40 212 632 -448 253 670 1,415 2,046 -173
-103 15 16 47 65 -1,328 1,044 -74 -446 -1,011 -1,921 478
-77 271 -235 -32 -113 812 -409 -309 -405 -238 -270 -371
Net Cash Flow -205 -298 444 55 165 116 186 -130 -181 166 -145 -65

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 149 244 134 83 54 90 48 31 46 50 52 34
Inventory Days 157 177 113 81 70 98 70 65 130 65 116 215
Days Payable 62 77 64 74 59 83 84 85 130 37 69 95
Cash Conversion Cycle 244 345 184 91 66 104 34 10 46 78 99 154
Working Capital Days 2 274 -71 -95 -57 -114 -27 9 -2 -88 -402 -170
ROCE % 38% 30% 7% 26% 25% 22% 22% 25% 21% 18% 9% 22%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86%
3.10% 2.73% 2.75% 3.68% 6.87% 6.28% 5.73% 5.82% 4.11% 5.23% 4.94% 3.84%
4.11% 4.29% 4.37% 4.96% 3.87% 3.78% 3.21% 2.24% 2.20% 2.45% 2.50% 3.00%
19.93% 20.12% 20.02% 18.48% 16.39% 17.07% 18.19% 19.07% 20.84% 19.47% 19.71% 20.31%
No. of Shareholders 1,67,8101,71,0901,70,1001,64,5041,69,2571,69,2641,80,9792,66,4372,92,2123,96,3276,34,0758,41,968

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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