Cochin Shipyard Share Price (COCHINSHIP)

Cochin Shipyard Limited (CSL), incorporated on March 29, 1972, is a premier shipbuilding, ship repair, and marine engineering training establishment in India. It operates as a Government of India Enterprise and holds Miniratna Category I status, signifying its operational autonomy and importance to the nation's maritime sector. As of mid-2025, CSL reported a robust order book valued at approximately ₹22,500 crore, indicating strong future revenue visibility. A significant operational highlight in the fiscal year 2024-25 was the successful capitalization of two major infrastructure projects: the International Ship Repair Facility (ISRF) and a New Dry Dock (NDD). These projects, with a combined investment exceeding ₹2,100 crore (₹793.44 crore for ISRF and ₹1,319.39 crore for NDD), are set to substantially enhance the company's shipbuilding and repair capabilities. Cochin Shipyard is recognized as India's largest shipbuilding and maintenance facility, capable of constructing vessels up to 110,000 Dead Weight Tonnage (DWT) and repairing vessels up to 125,000 DWT. Among its notable achievements is the construction and delivery of INS Vikrant, India's first Indigenous Aircraft Carrier. Further strengthening its international presence, CSL signed a Master Ship Repair Agreement (MSRA) with the United States Navy in April 2024, allowing it to undertake repairs for US Naval ships under the Military Sealift Command.

What does Cochin Shipyard Ltd do?

Cochin Shipyard Ltd is primarily engaged in the construction of a diverse range of vessels catering to both the defence and commercial sectors. Alongside shipbuilding, the company offers comprehensive ship repair services, from routine maintenance to complex overhauls and life extensions. It also contributes to maritime skill development through its marine engineering training institute. CSL operates India's largest shipbuilding and repair facilities, strategically located in Kochi, Kerala. Its services are utilized by key national entities such as the Indian Navy and Coast Guard, as well as by various domestic and international commercial shipping companies and the offshore oil and gas industry. The company's revenue generation model is based on two principal segments. For the quarter ended March 31, 2025, shipbuilding activities, which involve the construction of new vessels, contributed approximately 52.4% to its operational revenue. The ship repair segment, which includes overhauls, upgrades, and maintenance, accounted for approximately 47.6% of the operational revenue in the same period, showing significant growth during the fiscal year 2024-25.

Products/Services of Cochin Shipyard Ltd

Naval Shipbuilding
Cochin Shipyard Ltd designs and constructs sophisticated naval vessels. A landmark achievement in this area is the construction of INS Vikrant, India's first Indigenous Aircraft Carrier, delivered to the Indian Navy. The company also builds other defence vessels such as patrol boats, anti-submarine warfare corvettes, and other specialized naval platforms, contributing to India's defence preparedness.

Commercial Shipbuilding
CSL manufactures a wide array of commercial ships. Its portfolio includes large vessels like Aframax crude oil tankers and bulk carriers. Additionally, it constructs specialized vessels such as platform supply vessels for the offshore industry, dredgers, and passenger vessels, serving both domestic and international clients.

Ship Repair and Upgrades
The company provides extensive repair and upgrade services for a diverse range of vessels. This includes major overhauls, life extensions, and conversions for naval ships (including aircraft carriers like INS Viraat and INS Vikramaditya, and submarines), coast guard ships, and commercial vessels. The new International Ship Repair Facility (ISRF), featuring a ship lift system and capitalized in fiscal year 2024-25, significantly boosts CSL's capacity in this segment.

Offshore Platform Construction and Support
Cochin Shipyard is also involved in projects for the offshore oil and gas industry. This includes the construction of platform supply vessels and other offshore support vessels, as well as repair and maintenance services for offshore rigs and platforms.

Marine Engineering Training
CSL operates the Marine Engineering Training Institute (METI), known as Vigyana Sagar. This institute is approved by the Directorate General of Shipping, Government of India, and plays a crucial role in training graduate engineers to become qualified marine engineers, thereby contributing skilled manpower to the maritime industry.

Future Outlook and Expansion Plans of Cochin Shipyard Ltd

Cochin Shipyard Ltd is set for enhanced operational capabilities following the commissioning and capitalization of its New Dry Dock and the International Ship Repair Facility during the fiscal year 2024-25. The New Dry Dock, a 310-meter long graving dock, and the ISRF represent a total capital investment of over ₹2,100 crore and are expected to significantly increase the yard's capacity for both shipbuilding and ship repair, allowing for improved efficiency and the ability to handle larger and more complex projects. The company is focused on securing high-value projects, with aspirations including the potential order for India's next Indigenous Aircraft Carrier (IAC-II), which would be a major undertaking. The ship repair vertical is a key area for future growth, bolstered by the new ISRF and the recently signed Master Ship Repair Agreement with the US Navy. This agreement opens up a new business line for repairing US Military Sealift Command ships, diversifying its client base. CSL will also concentrate on the efficient execution of its current strong order book, which stood at approximately ₹22,500 crore as of mid-2025, ensuring sustained activity and revenue flow in the coming years.