Cochin Shipyard has signed a memorandum of understanding (MoU) with AP Moller-Maersk to explore collaboration opportunities in ship repair, maintenance, and shipbuilding in India. This partnership will focus on areas such as sharing technical expertise to meet international standards in ship maintenance, exploring ship repair and dry docking projects, and discussing new shipbuilding opportunities. Additionally, the collaboration will offer joint training programs aimed at promoting responsible practices and skill development for both Cochin Shipyard and Maersk seafarers.
The partnership is expected to positively impact margins for Cochin Shipyard, particularly with the upcoming repair order for the INS Vikramaditya, following the successful completion of the INS Vikrant repair project. This project is expected to remain significant until Q1FY26. However, Cochin Shipyard reported a 27.6% decline in net profit for the third quarter, dropping to ₹177 crore from ₹244.4 crore in the same period last year. Despite this, the company’s revenue from operations rose by 8.6%, reaching ₹1,147.6 crore compared to ₹1,056.4 crore a year earlier.
The company’s operating profits also faced a decline of 23.4%, with EBITDA falling to ₹237.4 crore from ₹310.1 crore, resulting in a drop in EBITDA margin from 29.4% to 20.7%. The board of directors announced a second interim dividend of ₹3.5 per equity share of ₹5 face value for the financial year ending March 31, 2025. This is in addition to the ₹4 per share interim dividend declared on November 7, 2024.
Cochin Shipyard Limited (CSL), established in 1972 and headquartered in Kochi, Kerala, is one of India’s leading shipbuilding and maintenance facilities. CSL specializes in constructing, repairing, and maintaining a wide range of vessels, including commercial ships, defense vessels, offshore support ships, and specialized vessels. The shipyard also played a key role in building India’s first Indigenous Aircraft Carrier (INS Vikrant), marking a milestone in the nation’s naval capabilities.
CSL has expanded its operations over the years, delivering high-quality vessels to both domestic and international clients. The shipyard is also committed to sustainability, exploring green shipbuilding technologies and working on developing zero-emission vessels.
In addition to shipbuilding, Cochin Shipyard is a leader in ship repair services, serving the Indian Navy, Coast Guard, and commercial shipping industries. With modern facilities, including a dry dock for large vessels and an upcoming International Ship Repair Facility (ISRF), CSL strengthens its position as a key player in India’s maritime sector. The company continues to innovate and collaborate with global partners, supporting the government’s Atmanirbhar Bharat (self-reliant India) initiative and contributing to India’s economic growth.
