Cochin Shipyard Limited has informed the Exchange about Transcript of Q1 FY'26 Earnings Conference Call
COCHINSHIP · price
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Cochin Shipyard reported Q1 FY26 revenue of Rs. 1,068.59 crores, up 38% year-on-year, with PAT rising to Rs. 187.82 crores from Rs. 174.23 crores. Q1 EBITDA margin was strong at 28%, but management guided full-year EBITDA to moderate to around 20% and PAT margin to about 15%, citing the absence of high-margin aircraft carrier repair work this year. Order book stands healthy at ~Rs. 21,100 crores (75 vessels), with the defense order book at Rs. 13,700 crores covering ASW Corvettes and Next Generation Missile Vessels. New orders won in the quarter include two tugs from Polestar Maritime and a luxury river cruise vessel. Strategic MoUs signed with HD KSOE (Korea) for shipbuilding and Drydocks World (UAE) for ship repair, with the new Drydock and International Ship Repair Facility (ISRF) now operational. Management guided 14-15% topline growth for FY26 and aims to double turnover by 2030-31, with industry growth seen at 10-12% over the next 5-10 years.
Near-term margin pressure is flagged as full-year EBITDA is guided lower at ~20% versus the 28% posted in Q1, due to the absence of one-off high-margin defense repair work. However, strong order book visibility, newly operational infrastructure, and global partnerships provide a solid multi-year growth runway, supporting the management's 14-15% revenue growth and turnover doubling targets by 2030-31.