Cochin Shipyard shares rose 4.4% to Rs 1,774.90 in intraday trade on the BSE on Thursday, ahead of its March quarter results due later in the day.
In an exchange filing on May 9, the company said its board of directors would meet on Thursday, May 15, to consider and approve the standalone and consolidated audited financial results for the quarter and year ended March 31, 2025.
Defence order pipeline boosts sentiment
State-run defence shipbuilders—including Cochin Shipyard, Mazagon Dock Shipbuilders, and Garden Reach Shipbuilders & Engineers (GRSE)—are expected to see their combined order books more than triple over the next two years, according to Antique Stock Broking.
The brokerage noted that a sharp rebound in defence stocks since April, following border tensions between India and Pakistan and the approval of Rs 54,000 crore worth of defence contracts, has rekindled investor interest after a prolonged correction.
Antique reiterated its ‘Buy’ rating on Mazagon Dock and GRSE, while maintaining a ‘Hold’ on Cochin Shipyard due to limited visibility on the timeline and scope of the proposed second indigenous aircraft carrier (IAC-II). It expects defence stocks to trade at up to 45 times FY27 core earnings, supported by strong policy tailwinds, increased indigenisation, and a healthy capex pipeline.
Q3 performance recap
In Q3 FY25, Cochin Shipyard reported a 27% year-on-year decline in consolidated net profit to Rs 177 crore, down from Rs 244 crore in the same quarter last year. Revenue from operations rose 9% to Rs 1,148 crore, compared to Rs 1,056 crore a year earlier.
Operating profit (EBITDA) fell 23% to Rs 237 crore, and operating margins contracted to 20.7%. The board also declared a second interim dividend of Rs 3.5 per share for FY25.
Cochin Shipyard share price target
According to Trendlyne data, the average target price for Cochin Shipyard stock is Rs 1,338, indicating a potential downside of 23% from current levels. Of the three analysts tracking the stock, the consensus rating remains ‘Hold’.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
In an exchange filing on May 9, the company said its board of directors would meet on Thursday, May 15, to consider and approve the standalone and consolidated audited financial results for the quarter and year ended March 31, 2025.
Defence order pipeline boosts sentiment
State-run defence shipbuilders—including Cochin Shipyard, Mazagon Dock Shipbuilders, and Garden Reach Shipbuilders & Engineers (GRSE)—are expected to see their combined order books more than triple over the next two years, according to Antique Stock Broking.
The brokerage noted that a sharp rebound in defence stocks since April, following border tensions between India and Pakistan and the approval of Rs 54,000 crore worth of defence contracts, has rekindled investor interest after a prolonged correction.
Antique reiterated its ‘Buy’ rating on Mazagon Dock and GRSE, while maintaining a ‘Hold’ on Cochin Shipyard due to limited visibility on the timeline and scope of the proposed second indigenous aircraft carrier (IAC-II). It expects defence stocks to trade at up to 45 times FY27 core earnings, supported by strong policy tailwinds, increased indigenisation, and a healthy capex pipeline.
Q3 performance recap
In Q3 FY25, Cochin Shipyard reported a 27% year-on-year decline in consolidated net profit to Rs 177 crore, down from Rs 244 crore in the same quarter last year. Revenue from operations rose 9% to Rs 1,148 crore, compared to Rs 1,056 crore a year earlier.
Operating profit (EBITDA) fell 23% to Rs 237 crore, and operating margins contracted to 20.7%. The board also declared a second interim dividend of Rs 3.5 per share for FY25.
Cochin Shipyard share price target
According to Trendlyne data, the average target price for Cochin Shipyard stock is Rs 1,338, indicating a potential downside of 23% from current levels. Of the three analysts tracking the stock, the consensus rating remains ‘Hold’.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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