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Cochin Shipyard share price will be in focus on Monday after the company signed a contract worth Rs 1,000 crore with the Ministry of Defence (MoD), Government of India. The contract is for a short refit and dry docking of a large Indian Naval Vessel. The estimated duration for the project is around 5 months.
The PSU clarified that the said order does not fall under the purview of related party transactions. Cochin Shipyard also recently entered into a Memorandum of Understanding (MOU) with Seatrium Letourneau USA, Inc (SLET) for the design and critical equipment for jack-up rigs for the Indian Market. The partnership aimed to capitalise on opportunities for Mobile Offshore Drilling Units (MODUs) designed to meet the needs of the Indian market and the collaboration was in line with the government’s efforts under the "Make in India" initiative.
Also Read: Outflow continues in secondary mkt, IPO rush keeps FPIs busy in Nov In Q2 FY25, the firm reported a 4% year-on-year (YoY) increase in net profit at Rs 189 crore. In the corresponding quarter of the previous fiscal, Cochin Shipyard posted a net profit of Rs 182 crore. The company's revenue from operations increased 13% to Rs 1,143.
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com View Program At the operating level, EBITDA was up 3.2% to Rs 197.3 crore in the second quarter of this fiscal over Rs 191.
2 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 17.3% in the reporting quarter as compared to 18.
9% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. On Friday, Cochin Shipyard's shares closed at Rs 1,576.
9, down 0.08% on the BSE, while the benchmark Sensex surged 0.96%.
Its shares have rallied 131% in 2024 to date and 392% over the past two years, with the company currently holding a market capitalization of Rs 41,486 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
