Cochin Shipyard Soars to New High on Stellar Q4

27 May 2024 , 12:45 PM

Cochin Shipyard’s shares jumped 10% to reach a new high of ₹2100 on Monday. The business had announced a multi-fold increase in its consolidated net profit to ₹258.88 Crore for the March 2024 quarter, attributed to higher income. In the same period last year, it recorded a profit of ₹39.33 Crore.

From January to March of FY24, the company’s total income increased to ₹1,366.16 Crore from ₹671.32 Crore in FY23.

In Q4 FY23, the company’s revenue from the shipbuilding segment was ₹453.84 Crore, compared to ₹985.15 Crore in Q4 FY24. Its revenue from ship maintenance has increased to ₹300.89 Crore from ₹146.24 Crore in the previous year.

The company’s earnings for the entire FY24 increased to ₹783.27 Crore from ₹304.70 Crore in FY23, more than doubling.

Additionally, the company’s board approved a final dividend for FY24 of ₹2.25 per share.

One of India’s top shipbuilding and repair yards is Cochin Shipyard. It also has an exclusive area set for offshore construction and future expansion.

The stock was up 2.36% at ₹1,957.6 on the BSE at 12:42 p.m. In the meantime, the stock has increased by more than 250% over the last six months and more than 130% over the last three. In the last year, the multibagger stock has likewise increased by more than 725%.

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