Cochin Shipyard Limited has informed the Exchange that Board of Directors at its meeting held on May 15, 2026, recommended Final Dividend of Rs. 1.50 per equity share.
COCHINSHIP · price
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Cochin Shipyard reported consolidated total income of Rs. 543,169.37 lakhs for FY26, up 4.3% from Rs. 520,902.38 lakhs in FY25. However, profit after tax declined 13.3% to Rs. 71,673.95 lakhs from Rs. 82,733.05 lakhs. EPS fell to Rs. 27.24 from Rs. 31.45. Finance costs nearly doubled to Rs. 9,237.61 lakhs from Rs. 3,857.55 lakhs. Operating cash flow turned sharply negative at Rs. -1,23,408.01 lakhs due to large working capital outflows. The Board recommended a final dividend of Rs. 1.50 per share (Rs. 5 face value). The auditor issued an unmodified opinion but included an Emphasis of Matter on suspended construction of two passenger vessels for Andaman & Nicobar Administration, with Rs. 21,570.42 lakhs cumulative liquidated damages recognized. The company is non-compliant with board composition requirements as independent directors' positions remain vacant.
The 13.3% PAT decline despite modest revenue growth, combined with negative operating cash flow of Rs. 1,234 crore, raises concerns about cash conversion and profitability. The near-tripling of finance costs also warrants monitoring. The dividend payout is modest at Rs. 1.50 per share, reflecting caution amid these challenges.