ICICI Direct: Labour Shortage Hinders Execution, Capex Of Cochin Shipyard

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..ICICI Direct Report.Cochin Shipyard Ltd. registered a substandard performance in Q1 FY21 as production was halted till May 5. After this, production started on a reduced time scale for a significant period of the quarter affecting overall performance.Revenue for the quarter was at Rs 332.5 crore, down 55% YoY. Shipbuilding (SB) revenue fell 47.5% YoY to Rs 316.1 crore while shiprepair (SR) segment contracted 87.7% YoY to Rs 16.35 crore in the quarter.On a segmental profitability front, SB reported Ebit of Rs 62.5 crore whereas SR clocked an Ebit (loss) of Rs 8.9 crore. SB, SR segments contributed 95.1%, 4.9% to the topline, respectively.Employee expenses stayed stable, coming in at Rs 69.9 crore. Ebitda margin came in at 5.1% during the quarter, contracting approximately 1400 basis points YoY. Absolute Ebitda de-grew 88% YoY to Rs 17 crore.Consequently, profit after tax came in at Rs 42.6 crore, down 65% YoY..Click on the attachment to read the full report:.DISCLAIMERThis 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.

ICICI Direct: Labour Shortage Hinders Execution, Capex Of Cochin Shipyard

ICICI Direct: Labour Shortage Hinders Execution, Capex Of Cochin Shipyard

Choose a plan