Cochin Shipyard Q1 results: Net profit rises 8% to ₹188 crore, revenue advances 39%; EBITDA jumps 37%

Cochin Shipyard, the country's leading shipbuilding company, on Tuesday, August 12, reported net profit of ₹188 crore in the first quarter of current financial year (Q1FY26), marking an increase of 8% from ₹174 crore in the same period last year.

The company's revenue from operations in April-June period advanced 39% to ₹1,069 crore from ₹771 crore in the year-ago period.

Cochin Shipyard reported strong operational performance as its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit advanced 37% to ₹242 crore from ₹177 crore in the corresponding period last year.

The company earned ₹439 crore in revenue from ship building business and ₹630 crore from ship repairing business. The company's ship building business contributed ₹36 crore towards profit while ship repairing business added ₹278 crore towards profit.

"With regard to the Shipbuilding contract for construction of 2 ships with a Government Customer, the contractual delivery dates (as extended) for both the vessels has already expired. At the request of the Customer for reallocation of the vessel for other prospective buyers, the delivery of ship has been abated with minor progress. The Holding company has provided for LD for the delay upto 29 Apr 2023 and 30 Oct 2023 in respect for the two ships," the company said in a regulatory filing.

Meanwhile, the company said that its board of directors approved appointment of SEP & Associates, Practicing Company Secretaries, Kochi, as the Secretarial Auditors of the Company for a term of five consecutive years from the financial year 2025-26 till the financial year 2029-30, subject to approval of the shareholders of the Company at the ensuing Annual General Meeting.

SEP & Associates is a reputed firm of Practicing Company Secretaries based in Kochi, with branches in Trivandrum, Chennai, and Mumbai. The firm, peer reviewed by the Institute of Company Secretaries of India, offers professional services in corporate law, secretarial compliance, NCLT matters, SEBI and RBI regulations, secretarial audits, due diligence and management advisory.

Cochin Shipyard shares ended 0.42% higher at ₹1,667.90 ahead of its earnings announcement.