Cochin Shipyard shares in focus on signing MoU with Seatrium Letourneau USA

Shares of the state-owned Cochin Shipyard are expected to be in focus today, as the company has announced that it has signed a memorandum of understanding (MoU) with Seatrium Letourneau USA for the design and critical equipment for jack-up rigs for the Indian market.

“We would like to inform that Cochin Shipyard Limited (CSL) has entered into a Memorandum of Understanding (MOU) with Seatrium Letourneau USA, Inc. (SLET) for the design and critical equipment for jack-up rigs for the Indian Market,” said the company in an exchange filing.

Building on Cochin Shipyard’s extensive experience in ship construction and engineering, and SLET’s renowned technical expertise and design capabilities, this partnership aims to capitalize on opportunities for Mobile Offshore Drilling Units (MODUs) designed to meet the needs of the Indian market, the company informed.


This collaboration is in line with the government’s efforts under the "Make in India" initiative.

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Cochin Shipyard reported a 4% year-on-year (YoY) increase in net profit, totaling Rs 189 crore for the second quarter that ended September 30, 2024. In the corresponding quarter of the previous fiscal year, Cochin Shipyard posted a net profit of Rs 182 crore.

The company's revenue from operations increased by 13% to Rs 1,143.2 crore, compared to Rs 1,011.7 crore in the corresponding period of the preceding fiscal year.

The shares of Cochin Shipyard have soared by 140.9% over the past year and by 90.5% in the current calendar year. However, they have declined by 20.4% and 37.3% over the past 6 and 3 months, respectively.

The shares closed flat at Rs 1,298.50 on the BSE in the last trading session.

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