Cochin Shipyard Reports 13% Drop in Q2 Revenue; Shares Fall 4.5%

13 Nov 2025 , 02:24 PM

Shares of Cochin Shipyard Ltd (CSL) tumbled nearly 4.5% on Thursday as of 2:19 PM, a day after the state-run shipbuilder reported weaker-than-expected earnings for the September quarter. The results, released post market hours on Wednesday, showed a sharp decline in profitability and operating margins.

For the quarter ended September 2025, the company’s revenue fell 13% year-on-year to ₹951 crore. Operational performance was hit hard, with EBITDA plunging 71% to ₹56 crore, compared to ₹196 crore a year ago. The EBITDA margin contracted to 5.9% from 17.87% last year, indicating severe cost pressures.

According to company filings, profitability was dragged down by a sharp increase in subcontracting costs and higher provisions. Provisions for the quarter rose fourfold to ₹21 crore compared with last year’s figure, though they were down 37% from the June quarter. Subcontracting expenses also jumped 50% year-on-year to ₹207 crore, but eased 13% sequentially.

Despite the weak quarter, the company announced an interim dividend of ₹4 per share (face value ₹5), translating to an 80% payout for FY26. The record date for determining shareholder eligibility has been fixed as November 18, 2025, and the dividend will be credited by December 11, 2025.

For feedback and suggestions, write to us at [e-mail]