Cochin Shipyard Limited has released the transcript of its investor and analyst conference call held on September 10, 2026. The call provided updates on the company’s operational and financial performance for FY27, including a turnover of INR 1,094.21 crores and PAT of INR 151.45 crores in Q1. Key discussions also covered a proposed joint venture with Drydocks World, Dubai, for an International Ship Repair Facility, and progress on new facilities and projects.
Investor Conference Call Transcript Released
Cochin Shipyard Limited has published the transcript of its investor and analyst conference call, which took place on Thursday, September 10, 2026. The call was convened to discuss the company’s recent performance and strategic business updates.
Operational and Financial Highlights
During the first quarter of FY27, Cochin Shipyard reported a turnover of INR 1,094.21 crores, compared to INR 1,068.59 crores in the corresponding period of the previous year. Profit Before Tax (PBT) stood at INR 202.49 crores, down from INR 249.54 crores year-on-year, while Profit After Tax (PAT) was INR 151.45 crores, compared to INR 187.82 crores in the prior year’s comparable quarter. The EBITDA margin for the quarter was approximately 24%, with a PAT margin of around 14%.
Operationally, the company delivered three vessels, including the third Anti-Submarine Warfare Shallow Water Craft for the Indian Navy and a multipurpose vessel for a German client. Its subsidiary, Udupi Cochin Shipyard, also delivered three vessels, including two general cargo vessels and a tugboat.
Strategic Initiatives and Joint Ventures
A significant update shared was the Board’s approval to form a joint venture with Drydocks World, Dubai (DP World company), for owning, operating, and managing CSL’s International Ship Repair Facility (ISRF) in Kochi. This joint venture will be a 50:50 partnership, with the ISRF undertaking being transferred on a slump sale basis for a consideration of INR 1,800 crores.
The company is also progressing with a proposed ship repair facility at Vadinar, Gujarat, which has received CCEA approval. Further expansion plans include a facility at V.O. Chidambaranar Port in Tuticorin, for which CSL emerged as a successful bidder for a 30-year lease.
Order Book and Future Outlook
Cochin Shipyard’s current unexecuted order book stands at around INR 22,000 crores. The company has also been declared L1 for five next-generation survey vessels for the Indian Navy, valued at approximately INR 5,000 crores, which would bring the total order book to around INR 27,000 crores upon finalization.
Discussions also touched upon a Green Maritime Propulsion JV, targeting revenue of INR 640 crores by its fifth year, and the company’s participation in defense tenders for programs like LPD, MCMV, and P-17 Bravo. The company anticipates delivering approximately 10 vessels in the current financial year and expects its cash flow to turn positive in FY27.
Investments in new capex plans, including ISRF, Vadinar, Block Fabrication Facility, and Tuticorin, are expected to total approximately INR 6,000-6,500 crores over the next five years, with a debt-equity ratio of around 80:20, and potential government subsidies and interest subventions.
Source: BSE
