Cochin Shipyard Q1 Results: Profit falls 19% YoY to Rs 151 crore, revenue up marginally
Cochin Shipyard reported a 19.4% year-on-year decline in Q1FY27 consolidated profit to Rs 151.5 crore, despite 2.3% revenue growth. EBITDA fell 20.4%, dragging margins lower, while the company also disclosed regulatory fines over board composition.
By Kumar Gaurav, ETMarkets.com |
Agencies
Cochin Shipyard’s Q1 profit declined sharply as weak EBITDA and margin contraction outweighed modest revenue growth, while regulatory compliance issues added further scrutiny.
State-owned shipbuilding and allied services provider Cochin Shipyard reported a year-on-year decline of over 19% in its consolidated net profit for the first quarter of FY27 (Q1FY27).
During the quarter under review, the company's consolidated profit came in at Rs 151.5 crore, down from Rs 188 crore reported in the corresponding quarter of the previous fiscal year.
The shipbuilder's revenue from operations during Q1FY27 touched Rs 1,094 crore, up 2.3% YoY from Rs 1,069 crore reported in Q1FY26, according to an exchange filing submitted by the Miniratna company.
The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 193 crore in Q1FY27, reflecting a decline of 20.4% YoY from Rs 242 crore in Q1FY26. Consequently, the company's EBITDA margin contracted sharply to 17.6% in Q1FY27 from 22.7% in Q1FY26.
Ahead of the announcement of the quarterly results, Cochin Shipyard shares settled at Rs 1,495, down 0.40% from the previous close on the BSE on August 14. For the year to date, the company's shares have declined nearly 8%, according to exchange data. At the current market price, the company's shares trade at a price-to-earnings (P/E) ratio of 55.33. The company's market capitalisation stood at Rs 39,370.04 crore.
The company further said that its board took note of the Rs 9.56 lakh fine imposed each by BSE and NSE for non-compliance with SEBI rules on the required number of independent directors and the composition of the Audit and Nomination & Remuneration Committees for the quarter ended March 31, 2026.
The board noted that the power to appoint directors rests with the Government of India. While one independent director, Dr Seema Suri, was appointed in May 2025, the appointment of the remaining five is still awaited. The company said the two committees can be reconstituted only after sufficient independent directors are appointed.
Additionally, Cochin Shipyard informed the exchanges that Subramanian K K, upon his promotion as General Manager (Employee Relations), has become Senior Management Personnel of Cochin Shipyard Limited with effect from August 11, 2026.
During the quarter under review, the company's consolidated profit came in at Rs 151.5 crore, down from Rs 188 crore reported in the corresponding quarter of the previous fiscal year.
The shipbuilder's revenue from operations during Q1FY27 touched Rs 1,094 crore, up 2.3% YoY from Rs 1,069 crore reported in Q1FY26, according to an exchange filing submitted by the Miniratna company.
The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 193 crore in Q1FY27, reflecting a decline of 20.4% YoY from Rs 242 crore in Q1FY26. Consequently, the company's EBITDA margin contracted sharply to 17.6% in Q1FY27 from 22.7% in Q1FY26.
Ahead of the announcement of the quarterly results, Cochin Shipyard shares settled at Rs 1,495, down 0.40% from the previous close on the BSE on August 14. For the year to date, the company's shares have declined nearly 8%, according to exchange data. At the current market price, the company's shares trade at a price-to-earnings (P/E) ratio of 55.33. The company's market capitalisation stood at Rs 39,370.04 crore.
The company further said that its board took note of the Rs 9.56 lakh fine imposed each by BSE and NSE for non-compliance with SEBI rules on the required number of independent directors and the composition of the Audit and Nomination & Remuneration Committees for the quarter ended March 31, 2026.
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The board noted that the power to appoint directors rests with the Government of India. While one independent director, Dr Seema Suri, was appointed in May 2025, the appointment of the remaining five is still awaited. The company said the two committees can be reconstituted only after sufficient independent directors are appointed.
Additionally, Cochin Shipyard informed the exchanges that Subramanian K K, upon his promotion as General Manager (Employee Relations), has become Senior Management Personnel of Cochin Shipyard Limited with effect from August 11, 2026.
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