Cochin Shipyard Limited up by 6.30 percent | Espresso


Espresso Shot of the Day - Cochin Shipyard Ltd up by 6.30 percent

November 02, 2022
Espresso Shot of the Day - Cochin Shipyard Ltd up by 6.30 percent

COCHIN SHIPYARD LTD 581.50 +34.45 (+6.30%) BSE –INE704P01017 | 2nd November 2022

Cochin Shipyard was incorporated in the year 1972 as a fully owned Govt of India company. In the last three decades, the company has emerged as a forerunner in the Indian Shipbuilding & Ship repair industry. This yard can build and repair the largest vessels in India. It can build ships up to 1,10,000 DWT and repair ships up to 1,25,000 DWT. The yard has delivered two of India’s largest double hull Aframax tankers each of 95,000 DWT. CSL has secured shipbuilding orders from internationally renowned companies from Europe & Middle East and is nominated to build the country’s first indigenous Air Defence Ship. The Shipyard commenced ship repair operations in the year 1982 and has undertaken repairs of all types of ships including upgradation of ships of oil exploration industry as well as periodical layup repairs and life extension of ships of Navy, UTL, Coast Guard, Fisheries and Port Trust besides merchant ships of SCI & ONGC. The yard has, over the years, developed adequate capabilities to handle complex and sophisticated repair jobs. The Shipyard also trains graduate engineers to become marine engineers who later join ships both Indian and foreign as 5th Engineers. 100s are trained every year.

Recent Drivers

  • Shares of state-owned shipbuilding company of Cochin Shipyard increased by around 6% on October 2,2022, hitting multi-year highs in an otherwise subdued market on expectation of strong earnings for the September quarter (Q2FY23).
  • With INS VIKRANT now joining the Navy, its builder, the Cochin Shipyard Limited (CSL) has to complete the installation of the Long-Range Surface to Air Missile (LR-SAM) system, and the MF-STAR (multi-functional digital active electronically scanned array) radar, according to senior shipyard officials. The Navy has stated that aviation trials are likely to begin by November.
  • The second in the series of two 1,200 Pax capacity passenger vessel named "ATAL" under construction in Cochin Shipyard Limited (CSL) for the Andaman & Nicobar administration was launched on August 13,2022 at the company's yard in Kochi.
  • The company reported a net profit of Rs 42.18 crores in June 2022, up 47.2% from the Rs. 28.66 crores in June 2021 on August 12,2022.
  • The company reported a net sale of Rs 440.85 crores in June 2022, up 33.83% from the Rs. 329.42 crores reported in June 2021 on August 12,2022.
  • The Board of Directors of the Company have recommended a final dividend of Rs.3.75 per equity share of face value of Rs.10 at the board meeting held on May 20, 2022. The record date for the same was set as September 21,2022.

    (Sources: BSE, Money control, Business Standard, The Hindu, The Business Line)

Technical Force*

  • S&P BSE 500 month till date gain by 0.50%.
  • 3 months avg. NSE volume: 1,560,668
  • Quantity traded: 1,89,009| Deliverable quantity: 43,962 (23.26%).
  • Stock price jumped by more than 100 % from a one-year low level: 281.00 (March 8, 2022)
  • Daily RSI (14) is overbought territory today.
  • 52-week-high: 589.90| 52-week-low: 281.00.

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Some Key Ratios (Source: BSE)

Market Cap:  7,649.07Crores

PE:  12.68

OPM%: 20.79

ROE%:  13.84

Promoters holding%: 72.86

Prev. Close:  547.05

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.