Cochin Shipyard Reports 50% Drop in Q2 Profit Amid Shipbuilding Losses
Cochin Shipyards Q2 profits fell by 50% due to weak shipbuilding performance, despite revenue growth in ship repairs.
Mumbai, November 10 (Daily Kiran) : Cochin Shipyard Limited, a government-owned shipbuilding company, announced its financial results for the second quarter of the fiscal year 2026-27 on November 10. The company reported a significant 50% decline in profits during this period, primarily attributed to underperformance in its shipbuilding sector.
Despite the profit drop, revenue saw an increase, bolstered by strong performance in ship repairs. According to the company’s exchange filing, its consolidated net profit for the second quarter fell to ₹53.8 crore, down from ₹107.5 crore in the same quarter last year.
Operating revenue rose by 11.7% year-on-year, reaching ₹1,249 crore compared to ₹1,119 crore in the previous year’s quarter. However, the company’s operational performance faced challenges, with EBITDA dropping 30.8% to ₹50.95 crore from ₹73.66 crore a year earlier. The EBITDA margin also decreased from 6.6% to 4.1%.
Performance varied across the company’s segments. Revenue from shipbuilding slightly increased to ₹783.1 crore from ₹759 crore in the same period last year. However, this segment reported an operational loss of ₹6.1 crore, a stark contrast to the operational profit of ₹149.7 crore recorded in the previous year.
In contrast, the ship repair segment performed robustly, with revenue climbing to ₹466.05 crore from ₹359.6 crore last year. Operational profit in this segment more than doubled to ₹143.3 crore, up from ₹67.2 crore in the same quarter last year.
Alongside the quarterly results, the company’s board approved an interim dividend of ₹3 per equity share with a face value of ₹5, representing 60% of the share’s face value. The record date for identifying eligible shareholders for the dividend is set for November 16, 2026, with payments expected to be completed by December 9, 2026.
