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Geojit Report
Cochin Shipyard Ltd. is the largest public sector shipyard in India deriving major revenue from Navy. The main sources of revenue are ship building for Navy, Coast Guard, commercial and ship repair.
Q1 FY21 revenue and profitability declined by 55% and 65% on account of Covid-19 related disruptions.
Order backlog is at approximately Rs 14,393 crore, including recently booked order of two autonomous electric ferries, providing strong visibility for next three years.
Management’s focus is on doubling of ship repair business, for this Cochin Shipyard is ramping-up its ship repair facilities and constructing a new dry dock.
We remain constructive on Cochin Shipyard over long term, given capacity expansion, improvement in order visibility and Government of India focus on indigenous procurement.
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