COCHIN SHIPYARD LIMITED

Builds and repairs ships at its Kochi shipyard, with revenue split between two main segments. Ship building — covering tugs, river cruise vessels, cargo ships, electric hybrid water-metro boats and defence vessels — contributed ₹2,651.39 crores (56.3%) of FY26 segment revenue with EBIT of ₹475.37 crores, while ship repair contributed ₹1,656.30 crores (35.1%) with EBIT of ₹429.41 crores; an unallocated residual made up 8.6%. The order book stood at ₹21,100 crores spread across 75 vessels, broken into ₹19,600 crores of shipbuilding work and ₹1,500 crores of ship repair work. A new 310-metre drydock and the International Ship Repair Facility have just become operational, with management guiding to roughly ₹1,500 crores of FY26 ship repair revenue and a long-term turnover target of ₹10,000–12,000 crores by 2030–31. Costs are dominated by materials and components at 43.7% of revenue, followed by other operating expenses at 30.6% and employees at 9.4%; depreciation is 2.6% and capex 1.4%. The operator is a central public sector enterprise under the Ministry of Ports, Shipping and Waterways, with the Government of India holding 63.33% after a recent offer for sale of 1.20 crore shares, and has guided FY26 to 14–15% revenue growth, ~15% PAT margin and ship-building segment margins of 10–12%.