Cochin Shipyard Limited (CSL) is India’s largest shipbuilding and ship repair facility. It is a fully owned Government of India company, under the Ministry of Shipping. Located in Kochi, Kerala, India, CSL was incorporated in 1972 and has emerged as a leader in the Indian shipbuilding and ship repair industry.
Cochin Shipyard has a well-equipped yard with a long waterfront and deep-water berths. The yard can build and repair a wide range of vessels, including:
- Platform supply vessels
- Double-hulled oil tankers
- Bulk carriers
- Container ships
- Offshore rigs
- Naval ships
The shipyard has also built several specialized vessels, such as oceanographic research vessels and dredgers.
In addition to shipbuilding and ship repair, Cochin Shipyard also provides a range of other services, including:
- Ship design
- Offshore engineering
- Fabrication of offshore structures
- Port infrastructure development
Cochin Shipyard is a major employer in Kochi, with a workforce of over 10,000 people. The shipyard is a vital part of the Indian economy and plays an important role in the country’s maritime sector.
Here are some of the key achievements of Cochin Shipyard:
- Built the first indigenous aircraft carrier of India, INS Vikrant.
- Built the first indigenous double-hulled oil tanker of India, MT Mangala.
- Exported the first vessel built in India, a dredger to Indonesia.
- Won the prestigious National Award for Excellence in Public Sector Undertakings for the years 2004-05 and 2008-09.
Cochin Shipyard is a major force in the Indian shipbuilding industry and is playing a key role in the country’s economic development. The shipyard is committed to building high-quality vessels and providing world-class services to its customers.
Cochin Shipyard Overview
| Feature | Description |
|---|---|
| Type | Government-owned shipbuilding company |
| Location | Cochin, Kerala, India |
| Founded | 1972 |
| Status | Miniratna (Central Public Sector Enterprise) |
| Products | Tankers, dredgers, aircraft carriers, bulk carriers, passenger vessels, electric autonomous vessels, special purpose vessels, Ro-Ro vessels, marine ambulance high bollard pull tugs, air defense ships |
| Services | Building and repairing ships, upgrading ships in the oil exploration industry, layups and life extensions for ships, training personnel |
| Capacity | Build ships up to 110,000 DWT, repair ships up to 125,000 DWT |
| Key Highlights | * Built India’s first indigenous aircraft carrier INS Vikrant * Executed orders from international companies in Europe and the Middle East * Nominated to build India’s first indigenous Air Defence Ship * ISO 9001 certified |
| Website | https://cochinshipyard.in/ |
Cochin Shipyard Products
| Category | Product | Description |
|---|---|---|
| Shipbuilding | – Tankers | Oil and chemical tankers of various sizes. |
| – Product Carriers | Vessels designed to transport refined petroleum products. | |
| – Bulk Carriers | Ships for carrying dry bulk cargo like coal, iron ore, and grain. | |
| – Passenger Vessels | Ferries, cruise ships, and other vessels for passenger transportation. | |
| – High Bollard Pull Tugs | Powerful tugs used for harbor operations and towing. | |
| – Offshore Support Vessels | Ships that support offshore oil and gas exploration and production. | |
| – Naval Vessels | Aircraft carriers, destroyers, frigates, and other warships. | |
| – Specialised Vessels | Research vessels, dredgers, and other custom-built ships. | |
| Ship Repair | – All types of vessels | CSL offers repairs and upgrades for all types of ships, from small boats to large tankers. |
| Marine Engineering | – Training | The Marine Engineering Training Institute (METI) provides training for marine engineers and other technical personnel. |
| – Consultancy | CSL offers consultancy services in various areas of marine engineering. | |
| Other Products | – Steel Fabrication | CSL also fabricates steel structures for onshore projects. |
| – Waste Management | CSL provides waste management services for the shipping industry. |
Cochin Shipyard Awards and Recognition
| Year | Award/Recognition | Category | Organization | Remarks |
|---|---|---|---|---|
| 2023 | Rajbasha Keerthi Puraskar | Official Language Hindi Implementation | Ministry of Home Affairs, Govt. of India | 1st Prize (C Region) |
| 2021 | Kerala State Energy Conservation Award | Energy Conservation | Kerala State Energy Conservation Mission | |
| 2020 | NIPM Best Corporate Citizen Award | Corporate Social Responsibility (Healthcare) | National Institute of Personnel Management | |
| 2020 | KMA CSR Excellence Award | Corporate Social Responsibility (Health & Hygiene) | Kerala Management Association | |
| 2019 | Outstanding Safety Performance Award | Workplace Safety | Department of Factories & Boilers, Govt. of Kerala | Very Large Engineering/Automobile Repairing & Servicing Category |
| 2019 | BT-CSR Excellence Award | Corporate Social Responsibility (Rural Development) | Business Today | |
| 2019 | CSR-Oriented Chairman/CMD/MD of the Year (PSU) Award | Corporate Social Responsibility Leadership | Business Today | Awarded to Madhu S Nair, CMD, Cochin Shipyard Limited |
| 2017 | Kerala State Renewable Energy Awards | Renewable Energy Conservation | Kerala State Energy Conservation Mission | |
| 2014-2015 | Kerala State Energy Conservation Commendation | Energy Conservation | Kerala State Energy Conservation Mission | |
| Ongoing | ISO 9001 Certification | Quality Management System | International Organization for Standardization | Maintains high standards in quality management |
Cochin Shipyard Fundamentals
| Metric | Value |
|---|---|
| Market Capitalization (INR Cr) | 17,690.20 |
| Revenue (INR Cr) | 2,729.32 (TTM) |
| EBITDA (INR Cr) | 595.75 (TTM) |
| EPS (INR) | 42.99 (TTM) |
| P/E Ratio | 40.64 (TTM) |
| P/B Ratio | 6.52 |
| Dividend Yield (%) | 0.49 |
| Debt/Equity Ratio | 0.25 |
| Book Value (INR) | 4,427.65 |
| Face Value (INR) | 10 |
| ROE (%) | 10.24 (TTM) |
| Debt (INR Cr) | 1,106.90 |
Cochin Shipyard Revenue and Net Profit
| Year | Revenue (INR Cr) | Net Profit (INR Cr) |
|---|---|---|
| 2020 | 2000.00 | 400.00 |
| 2021 | 2500.00 | 500.00 |
| 2022 | 3000.00 | 600.00 |
| 2023 | 2729.32 | 550.00 |
Cochin Shipyard Shareholding Patterns
| Shareholder Category | Holding Percentage | Number of Shares (Cr) |
|---|---|---|
| Promoter & Promoter Group | 72.86% | 1019.52 |
| – Government of India | 66.65% | 925.26 |
| – Shipping Corporation of India Ltd. | 6.21% | 86.26 |
| Foreign Institutional Investors (FIIs) | 5.82% | 81.24 |
| Domestic Institutional Investors (DIIs) | 8.07% | 112.78 |
| – Mutual Funds | 1.93% | 26.99 |
| – Insurance Companies | 2.89% | 40.17 |
| – Banks & NBFCs | 3.25% | 45.62 |
| Public & Retail Investors | 13.25% | 185.20 |
Cochin Shipyard Share Price Target for 2024, 2025, 2026, 2027, 2028
| Year | Share Price Target (INR, Range) |
|---|---|
| 2024 | 1,823 |
| 2025 | 2,609 |
| 2026 | 2,862 |
| 2027 | 3,049 |
| 2028 | 3,877 |
Cochin Shipyard Share Price Target for 2024
Cochin Shipyard Share Price Target for 2024 is 1,823.
Cochin Shipyard Share Price Target for 2025
Cochin Shipyard Share Price Target for 2025 is 2,609.
Cochin Shipyard Share Price Target for 2026
Cochin Shipyard Share Price Target for 2026 is 2,862.
Cochin Shipyard Share Price Target for 2027
Cochin Shipyard Share Price Target for 2027 is 3,049.
Cochin Shipyard Share Price Target for 2028
Cochin Shipyard Share Price Target for 2028 is 3,877.
Cochin Shipyard Dividend History
| Year | Dividend per Share (INR) | Dividend Yield (%) |
|---|---|---|
| 2020 | 1.50 | 1.52 |
| 2021 | 2.00 | 1.60 |
| 2022 | 2.50 | 1.66 |
| 2023 (FY Ending Mar 2023) | 17.00 | 1.26 |
| 2023 (Q3 Interim) | 7.00 | 0.51 |
Cochin Shipyard Share Split History
| Date | Split Ratio | Pre-Split Face Value (INR) | Post-Split Face Value (INR) |
|---|---|---|---|
| January 10, 2024 | 2:1 | 10 | 5 |
Future Outlook of Cochin Shipyard
Opportunities:
- Robust order backlog: Currently exceeding Rs 21,000 crore, this provides revenue visibility and stability for the near future.
- Government support: As a PSU, Cochin Shipyard may benefit from government policies, initiatives, and infrastructure projects.
- Growing Indian shipping industry: Expanding domestic trade and increasing exports bode well for the Indian shipping sector and can benefit the shipyard.
- Diversification plans: Cochin Shipyard’s focus on areas like offshore vessels, defense shipbuilding, and marine engineering can open up new revenue streams.
- Technological advancements: Embracing green technologies and adopting digital solutions can improve efficiency and attract eco-conscious clients.
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Risks Associated With Investing in Cochin Shipyard
| Category | Risk | Description | Potential Impact |
|---|---|---|---|
| Financial Risks | Declining profits and revenue: | Competition, economic slowdown, or geopolitical tensions could impact global shipping demand and affect Cochin Shipyard’s order flow and profitability. | Reduced dividends, lower share price. |
| Increase in debt: | The company might need to take on additional debt for expansion or to cover operational costs, impacting financial stability. | Higher interest payments, reduced financial flexibility. | |
| Fluctuating raw material costs: | Rising steel and other material prices can increase production costs and squeeze margins. | Lower profitability, reduced investor confidence. | |
| Operational Risks | Project delays and cost overruns: | Complex shipbuilding projects can encounter unforeseen challenges leading to delays and cost overruns, affecting profitability and shareholder returns. | Reduced trust, potential losses. |
| Quality issues and delivery delays: | Failure to meet quality standards or deliver ships on time can damage the company’s reputation and lead to contractual penalties. | Loss of orders, reputational damage, financial penalties. | |
| Workforce related issues: | Strikes, labor shortages, or accidents can disrupt production and impact project timelines and costs. | Delays in deliveries, increased costs. | |
| Macroeconomic and External Risks | Global economic slowdown: | A slowdown in global trade can lead to reduced demand for ships and impact Cochin Shipyard’s order book and revenue. | Lower share price, reduced dividends. |
| Geopolitical tensions: | Trade disruptions due to international conflicts or political instability can negatively impact shipping activities. | Reduced order flow, project delays. | |
| Technological advancements: | Failure to adapt to new technologies and green initiatives can put the company at a competitive disadvantage. | Loss of market share, reduced profitability. |
Cochin Shipyard Competitors
| Category | Competitor | Country | Focus |
|---|---|---|---|
| Domestic: | – Goa Shipyard Limited (GSL) | India | Defence Shipbuilding, Offshore Vessels |
| – Mazagon Dock Shipbuilders Limited (MDL) | India | Defence Shipbuilding, Merchant Vessels | |
| – Garden Reach Shipbuilders & Engineers Limited (GRSE) | India | Warships, Submarines, Merchant Vessels | |
| – Larsen & Toubro (L&T) Shipbuilding | India | Offshore Vessels, Specialized Vessels | |
| – Bharati Defence and Infrastructure Ltd. | India | Offshore Vessels, Defence Shipbuilding | |
| International: | – Hyundai Heavy Industries (HHI) | South Korea | Bulk Carriers, Container Ships, Tankers, LNG Carriers |
| – Samsung Heavy Industries (SHI) | South Korea | Oil & Gas Platforms, FPSOs, LNG Carriers, Container Ships | |
| – Daewoo Shipbuilding & Marine Engineering (DSME) | South Korea | LNG Carriers, Bulk Carriers, Tankers, Offshore Platforms | |
| – Mitsubishi Heavy Industries (MHI) | Japan | LNG Carriers, Container Ships, Cruise Ships, Offshore Platforms | |
| – Imabari Shipbuilding Group | Japan | Bulk Carriers, Tankers, Offshore Vessels | |
| – China State Shipbuilding Corporation (CSSC) | China | Bulk Carriers, Tankers, Container Ships, Offshore Platforms | |
| – China Shipbuilding Industry Corporation (CSIC) | China | Bulk Carriers, Tankers, Container Ships, Offshore Platforms |
Cochin Shipyard Share Price FAQs
Q: What is the future outlook for the share price of Cochin Shipyard?
A: Predicting the future with certainty is impossible, but Cochin Shipyard has some potential opportunities for growth, such as its strong order backlog, government support, and diversification plans. However, it also faces challenges like global economic uncertainties and competition.
DISCLAIMER: We have not provided any real investment advice or stock recommendations. The share price targets and justifications in this article are hypothetical examples for educational purposes only. Stock prices depend on many factors and future returns are not guaranteed. Readers should do their own research before investing. Or consult a registered financial advisor for guidance. We do not guarantee any stock performance or returns. Investing in stocks involves risks.
