Geojit: Cochin Shipyard Q1 Impacted By Lockdown  
Coast Guard ships sit docked at the Cochin Shipyard Ltd. (Photographer: Dhiraj Singh/Bloomberg)

Geojit: Cochin Shipyard Q1 Impacted By Lockdown  

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

Geojit Cochin Shipyard Q1FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.