Cochin Shipyard Limited has informed the Exchange that Board of Directors at its meeting held on May 15, 2025, recommended Final Dividend of Rs. 2.25 per equity share.
COCHINSHIP · price
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Cochin Shipyard's board approved audited results for Q4 and FY ended March 31, 2025. Standalone revenue from operations grew about 24% to Rs. 4,528 crore, while consolidated revenue rose nearly 26% to Rs. 4,820 crore. However, standalone profit after tax rose only modestly to Rs. 843 crore (from Rs. 813 crore), and operating margins shrank from 31% to 26%, partly due to higher provisions for anticipated losses. The board recommended a final dividend of Rs. 2.25 per share, taking the total FY25 dividend to Rs. 9.75 per share (including earlier interim dividends of Rs. 4.00 and Rs. 3.50). The auditor gave an unmodified opinion but flagged an emphasis of matter on two delayed passenger ships where further liquidated damages were not recognised. Two large capex projects (New Dry Dock and International Ship Repair Facility) were capitalised during the year.
Strong top-line growth and a healthy total dividend payout are positives for shareholders, but compressed margins and negative operating cash flows (Rs. -269 crore standalone) suggest cost pressures and working-capital strain worth monitoring. The governance note that the company has no independent directors or Audit Committee in place is a compliance overhang.