COCHIN SHIPYARD LIMITED

Cochin Shipyard Limited (COCHINSHIP) reported FY27 Q1 turnover of INR 1,094.21 crores, up from INR 1,068.59 crores in the prior year, with PBT of INR 202.49 crores and PAT of INR 151.45 crores. EBITDA margin was 24%, and PAT margin was 14%. The company announced a 50-50 joint venture with Drydocks World, Dubai (DDW) for its International Ship Repair Facility (ISRF) at Willingdon Island, Kochi, with a slump sale consideration of INR 1,800 crores. The JV aims to expand ISRF's capacity by adding 10 workstations. Management expects a 14-15% EBITDA margin for FY27, citing lower margins from commercial orders and reduced cash surplus. The company also discussed plans for a Block Fabrication Facility at Kochi, now to be developed independently at a smaller scale, and a proposed ship repair facility at Vadinar, Gujarat, with environmental clearance expected soon. Additionally, CSL secured a 30-year lease for a hybrid shipbuilding and repair facility at V.O. Chidambaranar Port, Tuticorin, with an initial payment of INR 305.76 crores. The order book stood at INR 22,000 crores, with potential for INR 5,000 crores in new defense contracts. The Green Maritime Propulsion JV with HBL targets INR 640 crores in revenue by 2031, with 40% equity for CSL. Management noted that FY27 cash flow will turn positive as vessel deliveries proceed, with a projected return on capital of 14-15% for new investments.

The summary presents factual data and management statements without overtly positive or negative language.