On May 15, India’s state-owned Cochin Shipyard announced its fourth-quarter results for the 2024-25 fiscal year.
During the statistical period, Cochin Shipyard achieved operating income of 175.765 billion rupees (approximately US$2.056 billion), an increase of 36.7% from 128.605 billion rupees in the same period last year; and achieved a comprehensive net profit of 28.718 billion rupees (approximately US$336 million), an increase of 27% from 25.888 billion rupees in the same period last year.
Although operating income achieved strong growth, earnings before interest, taxes, depreciation and amortization (EBITDA) fell 7.6% year-on-year to 2.66 billion rupees (approximately US$31 million), and the EBITDA margin dropped sharply to 15.10% from 22.4% in the same period last year, indicating cost pressure or changes in revenue structure.
The Board of Directors of Cochin Shipyard has recommended a final dividend of Rs. 2.25 per share (face value Rs. 5) for the financial year 2024-25, subject to approval of the shareholders at the forthcoming AGM. The dividend will be paid within 30 days of declaration.
The Cochin Shipyard board has recommended a final dividend of 2.25 rupees per share (face value 5 rupees) for the financial year 2024-25, subject to shareholders’ approval at the upcoming general meeting. The dividend will be paid within 30 days of declaration.
Cochin Shipyard is India’s largest shipbuilding and maintenance facility and is part of a series of maritime-related facilities in the port city of Kochi in Kerala, India. Cochin Shipyard has not announced any new ship orders this year. The last order was in July 2024, for up to eight 6,300 dwt bulk carriers from Norway’s Wilson ASA.
As India’s largest ship repair yard, its new dock, officially inaugurated in 2024, will significantly increase the Cochin shipyard’s construction capacity. With a design life of 100 years, the new dock will enable India to build large aircraft carriers of up to 70,000 tons displacement.
The shipyard’s previous largest dock size of 255x43x9 meters, equipped with two gantry cranes of 300 tons and 150 tons, is capable of building ships of up to 110,000 deadweight tons. In addition, the Cochin Shipyard International Ship Repair Center has been completed and put into operation.