Rs 22,500 Crore Order Book: Defence Ship Building Company Collaborates with Drydocks World to Develop Ship Repair Clusters in India
The stock gave multibagger returns of 500 per cent in just 2 years whereas the BSE Sensex Index is up by 31 per cent.
Cochin Shipyard Limited (CSL), a Public Sector Enterprise under the Ministry of Ports, Shipping and Waterways, Government of India, and Drydocks World, a DP World company, are strengthening their collaboration to boost India’s ship repair and offshore fabrication capabilities. Building on the Memorandum of Understanding (MoU) signed last month in Mumbai during the visit of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence of the UAE, the partnership aims to bring global best practices to India’s maritime sector and expand capacity in line with the country's national goals.
The MoU was signed in the presence of His Excellency Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, and Madhu S Nair, Chairman & Managing Director of Cochin Shipyard Limited. A high-level delegation from Drydocks World, led by Chief Executive Officer, Captain Rado Antolovic, visited CSL over two days from May 1 to 2, to discuss next steps. The team toured CSL’s Main Yard, the newly commissioned 310-metre Dry Dock, the International Ship Repair Facility (ISRF), and the Marine Engineering Training Institute in Kochi.
In-depth discussions with CSL’s senior leadership, led by CMD Madhu S Nair, focused on operationalising the MoU and identifying both immediate and long-term opportunities. The two sides aim to commence joint work at the ISRF in Kochi as a first step, with plans to expand collaboration across India. The partnership is set to play a pivotal role in developing a world-class ship repair ecosystem to serve both domestic and international fleets. It will also bolster India’s offshore fabrication capabilities and support marine engineering training and skilling initiatives. These efforts align with the Government of India’s Maritime India Vision 2030 and Amrit Kaal Vision 2047, which seek to position India as a global maritime hub with modern infrastructure, advanced technology, and a skilled workforce.
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About the Company
Cochin Shipyard Ltd (CSL) is a leading player in the construction of all kinds of vessels, repairs and refits of all types of vessels, including periodic upgradation and life extension of ships. The company has a market cap of over Rs 43,000 crore and as of June 30, 2024, the company’s order book stands at approx. Rs 22,500 crore
According to Quarterly Results, net sales increased by 13 per cent to Rs 1,143.20 crore, operating profit increased by 7 per cent to Rs 298.41 crore and net profit increased by 4 per cent to Rs 188.92 crore in Q2FY25 compared to Q2FY24. In its annual results, net sales increased by 62 per cent to Rs 3,830.45 crore and net profit increased by 157 per cent to Rs 783.28 crore in FY24 compared to FY23. Looking at its half-yearly results, net sales increased by 29 per cent to Rs 1,914.67 crore, operating profit increased by 26 per cent to Rs 559.77 crore and net profit increased by 30 per cent to Rs 363.16 crore in H1FY25 compared to H1FY24.
The stock gave multibagger returns of 500 per cent in just 2 years whereas the BSE Sensex Index is up by 31 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.