Cochin Shipyard Limited to Undergo Share Split: Key Details and Financial Performance

Cochin Shipyard Limited (CSL), a prominent Defence Public Sector Undertaking (PSU), is set to trade ex-split on January 10, 2024. This move follows the announcement of CSL's share split in December 2023, with a fixed record date on the same day. The share split will result in each share being divided into two stocks of face value Rs 5 each, down from the existing face value of Rs 10, with a split ratio of 1:2.

Company Key Metrics

Financial Highlights

In September 2023, Cochin Shipyard reported robust consolidated quarterly numbers. Net Sales surged by 48.09%, reaching Rs 1,011.72 crore, compared to Rs. 683.18 crore in September 2022. Quarterly Net Profit saw a notable increase of 60.93%, reaching Rs. 181.53 crore. EBITDA stood at Rs. 279.90 crore, up by 42.12%. The Earnings Per Share (EPS) also witnessed growth, rising from Rs. 8.57 in September 2022 to Rs. 13.80 in September 2023.

Share Split Record Date and Regulatory Compliance

Cochin Shipyard Limited officially announced the record date for the share split, set for January 10, 2024. In adherence to regulatory obligations, the company disclosed this information in an exchange filing on December 14, 2023. The purpose of the split is to determine shareholder eligibility for the sub-division of existing equity shares.

Stock Performance and Growth Metrics

As of January 5, 2024, Cochin Shipyard Limited's stock closed at Rs 1362 apiece, marking a slight decrease of 0.04%. The stock has exhibited remarkable performance, delivering over 200% return since its 52-week low. Notably, since January 2023, Cochin Shipyard shares have yielded over a 140% return.

Strategic Focus - CRUISE 2030

Looking ahead, Cochin Shipyard outlines its strategic areas of focus under "CRUISE 2030." The company emphasizes the defense segment, coastal segment, and small vessel segment, intending to explore emerging technological domains such as autonomous vessels, hybrid/battery-operated vessels, alternate fuels, and advanced marine solutions. Infrastructure upgradation, including automation and expansion, is on the horizon.

About Cochin Shipyard Limited

Cochin Shipyard Ltd stands as the largest shipbuilding and maintenance facility in India, situated in Kochi, Kerala. The company plays a pivotal role in maritime-related activities, including the construction of platform supply vessels and double-hulled oil tankers.

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