Cochin Shipyard

Most sector PSUs ended FY23 with strong order books

The Ministry of Defence (MoD) on March 30 signed contracts with Indian shipyards, Bharat Dynamics, Bharat Electronics, and BrahMos Aerospace for equipments worth over Rs 35,000 crore.

ICICI Securities remains positive on CSL led by strong earnings visibility considering healthy order backlog, expected pick-up in execution, and strong opportunities in ship-building segment

Cochin Shipyard Ltd on Thursday reported a 14 per cent fall in consolidated profit at Rs 112.79 crore in the quarter ended September. The company had posted a consolidated profit of Rs 131.30 crore in the corresponding quarter of the previous fiscal, it said in a filing to BSE. The consolidated income of the company in the second quarter of the current fiscal increased to Rs 744.88 crore from Rs 738.01 crore in the year-ago period. The company's board has approved an interim dividend of Rs 7 per equity share for 2022-23.

Cochin Shipyard has received an order of about Rs 1,000 crore to construct vessels from a European client, the company said in a regulatory filing on Thursday. The completion time for the project is 35 months, it said. "CSL has bagged an international order for constructing 2 nos of Commissioning Service Operation Vessels (CSOV) from a European Client, with an option to build 4 more of such vessels to be exercised by the Owner within a period of one year," the filing said. These vessels are intended for the services of offshore wind farm installations towards their commissioning and maintenance. "These specialised vessels are being contracted for the first time in the country. The estimated project cost for the firm order is approximately Rs 1,000 crore and the project completion time is 35 months," the filing said.

The Prime Minister unveiled the new Naval Ensign 'Nishaan' during the commissioning of the indigenous aircraft carrier INS Vikrant

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India's first indigenous aircraft carrier carries on board an air wing consisting of 30 aircrafts

INS Vikrant will be commissioned in Cochin in the presence of Prime Minister Narendra Modi

The decision on the choice of a second indigenous aircraft carrier, which the navy is pushing for, will be crucial in determining India's maritime future

The Minister also unveiled the Start-up engagement framework of Cochin Shipyard Limited on the occasion of the inauguration of the Golden Jubilee celebrations of Cochin Shipyard Limited (CSL)

The shipyard signed a building agreement with Dredging Corporation of India to build India's first 12,000 cubic meter dredger

The agreement is for constructing the first beagle series 12 trailing suction hopper dredger, an official statement said

For FY22, the company said its current order book size stands at Rs 12,000 crore, which includes private, government and navy shipbuilding and ship repairs

Cochin Shipyard Ltd (CSL) has delivered the first 500 passenger cum 150 tonne cargo vessel 'Sindhu' to Andaman and Nicobar Administration

The yard has delivered two of India's largest double hull Aframax tankers each of 95,000 DWT

The company has been declared as lowest bidder for construction of six numbers of Next Generation Missile Vessels (NGMV) and the estimated total order value is around Rs 10,000 crore

State-run Cochin Shipyard on Friday posted a 32 per cent rise in consolidated net profit at Rs 223.73 crore during the quarter ended December.

Cochin Shipyard, with facilities on the East and West coasts of India, is a leader in commercial and defence shipbuilding and repairs.

On October 22, 2020, Damani acquired 694,646 equity shares, representing 0.53 per cent stake, in Cochin Shipyard at Rs 349.14 per share on the NSE