COCHINSHIP
Cochin Shipyard Limited
India's largest public sector shipbuilder and ship repairer — defence and commercial
Industrials›Capital Goods›Industrial Manufacturing›Ship Building & Allied Services
cochinshipyard.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹1248.80
Market cap
32,836 Cr
Stock P/E
48.3
P/B
5.59
Dividend yield
0.8%
ROE (FY26)
12.2%
ROCE (FY26)
15.7%
Operating margin (FY26)
13.6%
Debt / equity (FY26)
0.19
OCF / EBITDA (FY26)
-152.1%
OCF / EBITDA (3Y)
-66.6%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Cochin Shipyard (CSL) builds and repairs ships, including defence vessels for the Indian Navy and commercial vessels for domestic and export clients.
Company snapshot
2ndBy market cap
Ranked among 3 companies in Ship Building & Allied Services.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 66.4% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Ship Building | 66.4% | 2,034 Cr | 317 Cr | — |
| Ship Repair | 33.6% | 1,028 Cr | 394 Cr | — |
| Unallocated | 7.6% | 232 Cr | 56 Cr | — |
Shares add up to 108% because segment revenues are before inter-segment eliminations.
What we see
Positives
- ✓Debt-to-equity of 0.19x — the company is largely funded by its own money, not borrowed funds.
Concerns
- ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.
1 more signal from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,012 Cr | 1,056 Cr | 1,286 Cr | 771 Cr | 1,143 Cr | 1,148 Cr | 1,758 Cr | 1,069 Cr | 1,119 Cr | 1,350 Cr | 1,484 Cr | 1,094 Cr |
| Operating expenses (approx.) | 821 Cr | 746 Cr | 998 Cr | 594 Cr | 946 Cr | 910 Cr | 1,492 Cr | 827 Cr | 1,045 Cr | 1,164 Cr | 1,175 Cr | 901 Cr |
| EBITDA | 191 Cr | 310 Cr | 288 Cr | 177 Cr | 197 Cr | 237 Cr | 266 Cr | 241 Cr | 74 Cr | 187 Cr | 310 Cr | 193 Cr |
| OPM % | 18.9% | 29.4% | 22.4% | 23.0% | 17.3% | 20.7% | 15.1% | 22.6% | 6.6% | 13.8% | 20.9% | 17.7% |
| Other income | 89 Cr | 58 Cr | 80 Cr | 84 Cr | 101 Cr | 47 Cr | 157 Cr | 54 Cr | 127 Cr | 71 Cr | 157 Cr | 67 Cr |
| Interest | 10 Cr | 8 Cr | 7 Cr | 7 Cr | 9 Cr | 11 Cr | 12 Cr | 12 Cr | 20 Cr | 28 Cr | 32 Cr | 25 Cr |
| Depreciation | 19 Cr | 20 Cr | 19 Cr | 19 Cr | 26 Cr | 32 Cr | 27 Cr | 34 Cr | 31 Cr | 33 Cr | 32 Cr | 32 Cr |
| Profit before tax | 251 Cr | 340 Cr | 342 Cr | 236 Cr | 263 Cr | 242 Cr | 384 Cr | 250 Cr | 150 Cr | 197 Cr | 403 Cr | 202 Cr |
| Tax % | 27.8% | 28.1% | 24.4% | 26.1% | 28.3% | 26.8% | 25.2% | 24.7% | 28.3% | 26.5% | 31.3% | 25.2% |
| Net profit | 182 Cr | 244 Cr | 259 Cr | 174 Cr | 189 Cr | 177 Cr | 287 Cr | 188 Cr | 108 Cr | 145 Cr | 276 Cr | 151 Cr |
| EPS (₹) | ₹13.80 | ₹18.58 | ₹9.84 | ₹6.62 | ₹7.18 | ₹6.73 | ₹10.92 | ₹7.14 | ₹4.09 | ₹5.50 | ₹10.51 | ₹5.76 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,355 Cr | 2,962 Cr | 3,422 Cr | 2,819 Cr | 3,191 Cr | 2,365 Cr | 3,830 Cr | 4,820 Cr | 5,022 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 1,891 Cr | 2,393 Cr | 2,716 Cr | 2,103 Cr | 2,568 Cr | 2,111 Cr | 2,962 Cr | 3,942 Cr | 4,210 Cr | Sign in free for the trailing twelve months |
| EBITDA | 464 Cr | 569 Cr | 707 Cr | 716 Cr | 623 Cr | 253 Cr | 869 Cr | 878 Cr | 811 Cr | Sign in free for the trailing twelve months |
| OPM % | 19.7% | 19.2% | 20.6% | 25.4% | 19.5% | 10.7% | 22.7% | 18.2% | 16.2% | Sign in free for the trailing twelve months |
| Other income | 189 Cr | 227 Cr | 245 Cr | 191 Cr | 263 Cr | 207 Cr | 310 Cr | 389 Cr | 410 Cr | Sign in free for the trailing twelve months |
| Interest | 11 Cr | 14 Cr | 45 Cr | 51 Cr | 47 Cr | 35 Cr | 33 Cr | 39 Cr | 92 Cr | Sign in free for the trailing twelve months |
| Depreciation | 38 Cr | 34 Cr | 49 Cr | 60 Cr | 70 Cr | 69 Cr | 75 Cr | 103 Cr | 130 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 604 Cr | 748 Cr | 858 Cr | 808 Cr | 766 Cr | 418 Cr | 1,071 Cr | 1,125 Cr | 999 Cr | Sign in free for the trailing twelve months |
| Tax % | 34.4% | 36.1% | 26.3% | 24.7% | 26.4% | 27.2% | 26.9% | 26.5% | 28.3% | Sign in free for the trailing twelve months |
| Net profit | 396 Cr | 478 Cr | 632 Cr | 609 Cr | 564 Cr | 305 Cr | 783 Cr | 827 Cr | 717 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹31.00 | ₹35.47 | ₹48.05 | ₹46.27 | ₹42.87 | ₹23.16 | ₹29.77 | ₹31.45 | ₹27.24 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | 60.5% | 36.2% | 76.6% | 30.2% | 31.0% | 35.8% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 136 Cr | 132 Cr | 132 Cr | 132 Cr | 132 Cr | 132 Cr | 132 Cr | 132 Cr | 132 Cr |
| Reserves | 3,120 Cr | 3,197 Cr | 3,591 Cr | 3,902 Cr | 4,262 Cr | 4,296 Cr | 4,872 Cr | 5,448 Cr | 5,741 Cr |
| Borrowings | 123 Cr | 123 Cr | 123 Cr | 123 Cr | 123 Cr | 133 Cr | 23 Cr | 69 Cr | 1,099 Cr |
| Other liabilities | 2,091 Cr | 1,789 Cr | 2,561 Cr | 3,363 Cr | 3,898 Cr | 5,460 Cr | 7,048 Cr | 7,751 Cr | 7,559 Cr |
| Total liabilities | 5,475 Cr | 5,246 Cr | 6,407 Cr | 7,519 Cr | 8,414 Cr | 10,021 Cr | 12,074 Cr | 13,399 Cr | 14,531 Cr |
| Fixed assets (net) | 284 Cr | 313 Cr | 700 Cr | 804 Cr | 547 Cr | 943 Cr | 949 Cr | 3,034 Cr | 3,156 Cr |
| CWIP | 121 Cr | 342 Cr | 799 Cr | 1,176 Cr | 1,264 Cr | 1,602 Cr | 2,195 Cr | 515 Cr | 586 Cr |
| Investments | 0.09 Cr | 0.09 Cr | 0.09 Cr | 0.09 Cr | 0.09 Cr | 0.11 Cr | 0.13 Cr | 0.19 Cr | 113 Cr |
| Loans & advances | — | 0.39 Cr | 0.31 Cr | 0.57 Cr | 0.69 Cr | 0.99 Cr | 1 Cr | 1 Cr | 2 Cr |
| Inventories | 315 Cr | 283 Cr | 313 Cr | 434 Cr | 306 Cr | 373 Cr | 1,026 Cr | 1,885 Cr | 2,288 Cr |
| Trade receivables | 580 Cr | 392 Cr | 288 Cr | 353 Cr | 390 Cr | 338 Cr | 355 Cr | 229 Cr | 423 Cr |
| Cash & bank | 807 Cr | 1,021 Cr | 867 Cr | 729 Cr | 1,415 Cr | 2,081 Cr | 2,587 Cr | 317 Cr | 105 Cr |
| Other assets | 3,368 Cr | 2,894 Cr | 3,438 Cr | 4,023 Cr | 4,490 Cr | 4,681 Cr | 4,959 Cr | 7,418 Cr | 7,856 Cr |
| Total assets | 5,475 Cr | 5,246 Cr | 6,407 Cr | 7,519 Cr | 8,414 Cr | 10,021 Cr | 12,074 Cr | 13,399 Cr | 14,531 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | -753 Cr | -451 Cr | 253 Cr | 789 Cr | 1,397 Cr | 1,889 Cr | -172 Cr | -297 Cr | -1,234 Cr |
| Cash from investing | 71 Cr | 1,074 Cr | -97 Cr | -522 Cr | -472 Cr | -35 Cr | 1,056 Cr | 538 Cr | 327 Cr |
| Cash from financing | 813 Cr | -409 Cr | -309 Cr | -405 Cr | -239 Cr | -276 Cr | -371 Cr | -277 Cr | 696 Cr |
| Net cash flow | 131 Cr | 214 Cr | -154 Cr | -138 Cr | 686 Cr | 1,578 Cr | 513 Cr | -36 Cr | -211 Cr |
| Free cash flow (OCF − Capex) | -828 Cr | -738 Cr | -242 Cr | 736 Cr | 1,223 Cr | 1,844 Cr | -202 Cr | -700 Cr | -1,304 Cr |
Ratios
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 18.2% | 22.0% | 23.5% | 20.7% | 18.0% | 9.9% | 22.0% | 20.6% | 15.7% |
| ROE % | 12.2% | 14.3% | 17.0% | 15.1% | 12.8% | 6.9% | 15.7% | 14.8% | 12.2% |
| Debtor days | 90 | 48 | 31 | 46 | 45 | 52 | 34 | 17 | 31 |
| Inventory days | 98 | 69 | 64 | 130 | 69 | 121 | 216 | 322 | 379 |
| Days payable | 86 | 84 | 85 | 130 | 85 | 70 | 105 | 86 | 160 |
| Cash conversion cycle | 102 | 33 | 9 | 45 | 29 | 103 | 145 | 253 | 250 |
| OCF / EBITDA % | -162.3% | -79.3% | 35.8% | 110.3% | 224.4% | 745.3% | -19.8% | -33.8% | -152.1% |
| OCF / EBITDA % (3 years) | — | — | -54.7% | 29.7% | 119.3% | 256.0% | 178.5% | 71.0% | -66.6% |
| Debt / equity | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 | 0.0046 | 0.01 | 0.19 |
| Current ratio | 2.34 | 2.34 | 2.05 | 1.72 | 1.68 | 1.39 | 1.32 | 1.33 | 1.33 |
| Net debt / EBITDA | — | -1.58 | -1.05 | -0.85 | -2.08 | -7.69 | -2.95 | -0.28 | 1.22 |