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Consolidated Standalone

Cochin Shipyard

₹1230.2 -5.1 | 0.4%

Market Cap ₹32363 Cr.

Stock P/E 57.4

P/B 6.5

Current Price ₹1230.2

Book Value ₹ 188

Face Value 5

52W High ₹1379

Dividend Yield 0.69%

52W Low ₹ 234.5

Edit Ratio

Cochin Shipyard Research see more...

Overview Inc. Year: 1972Industry: Ship Building

Cochin Shipyard Ltd is an India-based employer. The Company is focused on presenting cater to customers engaged within the defence area in India and clients engaged in the industrial region. In addition to shipbuilding and ship restore, the Company offers marine engineering training. The Company's docks consists ship repair dock and shipbuilding dock. Ship restore dock is allows to accommodate vessels with a maximum potential of 125,000 DWT. In addition, ship repair dock gives a flexible variety of merchandise together with, tankers, product providers, bulk carriers, passenger vessels, high bollard pull tugs, and air defence deliver. Shipbuilding dock can accommodate vessels with a most capability of 110,000 DWT. The Company has constructed a lot of vessels starting from bulk carriers, tankers and passengers ships to offshore support vessels and port crafts.

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Cochin Shipyard Share Price

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Peer Comparison

Cochin Shipyard Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 696 953 1212 441 683 642 600 476 1012 1056
Other Income 42 63 112 56 62 23 71 84 89 58
Total Income 738 1016 1324 497 745 665 671 560 1100 1114
Total Expenditure 532 812 916 409 548 493 667 397 821 746
Operating Profit 206 204 408 87 197 172 4 163 280 368
Interest 12 12 12 12 12 12 -1 9 10 8
Depreciation 17 18 18 19 20 19 11 17 19 20
Exceptional Income / Expenses 0 0 -5 0 0 0 62 0 0 0
Profit Before Tax 177 175 374 56 165 140 57 137 251 340
Provision for Tax 46 46 100 14 52 30 17 39 70 96
Profit After Tax 131 129 275 42 113 110 39 99 182 244
Adjustments 0 -0 0 0 0 -0 -0 0 0 0
Profit After Adjustments 131 129 275 42 113 110 39 99 182 244
Adjusted Earnings Per Share 5 4.9 10.4 1.6 4.3 4.2 1.5 3.7 6.9 9.3

Cochin Shipyard Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 2355 2966 3422 2819 3191 2365 3144
Other Income 189 226 245 191 263 207 302
Total Income 2544 3192 3668 3010 3454 2572 3445
Total Expenditure 1891 2394 2711 2096 2564 2103 2631
Operating Profit 654 797 957 914 890 469 815
Interest 12 15 50 58 53 43 26
Depreciation 38 34 49 60 68 69 67
Exceptional Income / Expenses 0 0 0 13 -3 62 62
Profit Before Tax 604 748 858 808 766 418 785
Provision for Tax 208 270 226 199 202 114 222
Profit After Tax 396 478 632 609 564 305 564
Adjustments 0 0 0 0 0 0 0
Profit After Adjustments 396 478 632 609 564 305 564
Adjusted Earnings Per Share 14.6 18.2 24 23.1 21.4 11.6 21.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -26% -12% 0% 0%
Operating Profit CAGR -47% -21% -6% 0%
PAT CAGR -46% -22% -5% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 356% 88% 46% NA%
ROE Average 7% 12% 14% 13%
ROCE Average 10% 17% 20% 19%

Cochin Shipyard Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 3255 3329 3723 4033 4393 4428
Minority's Interest 6 5 0 0 0 0
Borrowings 123 123 123 123 126 23
Other Non-Current Liabilities -18 -39 358 305 317 345
Total Current Liabilities 2074 1762 2156 2937 3463 5121
Total Liabilities 5440 5180 6360 7399 8299 9916
Fixed Assets 349 376 764 867 970 953
Other Non-Current Assets 249 686 1167 1476 1488 1827
Total Current Assets 4842 4118 4429 5056 5841 7137
Total Assets 5440 5180 6360 7399 8299 9916

Cochin Shipyard Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 676 807 1021 867 351 504
Cash Flow from Operating Activities 631 -451 253 710 1398 1889
Cash Flow from Investing Activities -1312 1074 -97 -443 -1007 -35
Cash Flow from Financing Activities 812 -409 -309 -405 -239 -276
Net Cash Inflow / Outflow 131 214 -154 -138 152 1578
Closing Cash & Cash Equivalent 807 1021 867 729 504 2081

Cochin Shipyard Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 14.58 18.17 24.02 23.14 21.44 11.58
CEPS(Rs) 15.95 19.46 25.88 25.41 24.02 14.2
DPS(Rs) 6 6.5 8.32 7.75 8.38 8.5
Book NAV/Share(Rs) 119.74 126.53 141.51 153.32 166.99 168.3
Core EBITDA Margin(%) 19.72 19.26 20.79 25.64 19.65 11.07
EBIT Margin(%) 26.16 25.73 26.52 30.74 25.67 19.53
Pre Tax Margin(%) 25.66 25.21 25.06 28.67 24 17.7
PAT Margin (%) 16.83 16.11 18.47 21.59 17.67 12.89
Cash Profit Margin (%) 18.42 17.26 19.9 23.71 19.81 15.8
ROA(%) 7.28 9 10.95 8.85 7.19 3.35
ROE(%) 12.17 14.51 17.93 15.69 13.39 6.91
ROCE(%) 18.24 22.34 24.87 21.65 18.88 10.17
Receivable days 89.91 59.84 36.29 41.54 45.2 59.85
Inventory Days 48.75 36.8 31.82 48.4 41.89 51.82
Payable days 83.42 75.06 77.77 127.79 68.25 62.73
PER(x) 17.26 10.84 5.5 8.11 6.86 20.54
Price/Book(x) 2.1 1.56 0.93 1.22 0.88 1.41
Dividend Yield(%) 2.38 3.3 6.29 4.13 5.7 3.57
EV/Net Sales(x) 1.47 0.92 0.41 1.01 0.24 0.69
EV/Core EBITDA(x) 5.29 3.42 1.47 3.12 0.88 3.48
Net Sales Growth(%) 0 25.92 15.41 -17.64 13.2 -25.9
EBIT Growth(%) 0 23.83 18.96 -4.54 -5.46 -43.63
PAT Growth(%) 0 20.57 32.28 -3.69 -7.34 -45.97
EPS Growth(%) 0 24.66 32.18 -3.69 -7.34 -45.97
Debt/Equity(x) 0.04 0.04 0.03 0.03 0.03 0.03
Current Ratio(x) 2.33 2.34 2.05 1.72 1.69 1.39
Quick Ratio(x) 2.18 2.18 1.91 1.57 1.6 1.32
Interest Cover(x) 51.89 49.45 18.19 14.87 15.41 10.67
Total Debt/Mcap(x) 0.02 0.02 0.04 0.02 0.03 0.02

Cochin Shipyard Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 72.86 72.86 72.86 72.86 72.86 72.86 72.86 72.86 72.86 72.86
FII 3.1 2.73 2.75 3.69 6.87 6.28 5.73 5.81 4.1 5.23
DII 4.11 4.29 4.38 4.97 3.87 3.79 3.21 2.25 2.2 2.44
Public 19.93 20.12 20.02 18.49 16.4 17.07 18.19 19.08 20.83 19.47
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 68.25 to 62.73days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 12% over the last 3 years.
  • Stock is trading at 6.5 times its book value.
  • The company has delivered a poor profit growth of -5% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Cochin Shipyard News

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