Public sector company Cochin Shipyard reported an 18 per cent YoY profit decline in the third quarter of FY26. The company reported a consolidated net profit of Rs 144 crore in Q3 FY26. The shipbuilder’s consolidated net profit in Q3 FY25 was at Rs 176 crore.
While the state-owned company’s profit slipped in the quarter, its revenue from operations grew by 17.6 per cent on a yearly basis. Cochin Shipyard posted a consolidated revenue of Rs 1,350 crore in Q3 FY26, compared to a revenue of Rs 1,147 crore in the corresponding quarter of the previous fiscal year.
Company’s expenses grew by 28 per cent during the quarter, increasing to Rs 1,224 crore in Q3 FY26 from Rs 952 crore during Q3 FY25.
Interim dividend declared
Cochin Shipyard has declared an interim dividend of Rs 3.5 per equity share. This is the second interim dividend for FY2025-26. The company stated that the interim dividend will be paid to the eligible shareholders on or before February 26, 2026.
Joint Venture and acquisition
Cochin Shipyard’s board of directors has approved the proposal to acquire a 23 per cent stake in Netherlands-based ship design company Conoship. The company said that the acquisition will help it penetrate the European Coastal and short-sea shipping markets with advanced design solutions.
Netherlands-based Conoship is a ship design and engineering company. Conoship has a diverse portfolio of ship designs, from general cargo vessels, tankers, and dredgers, to ferries and offshore vessels and provides its services to shipyards worldwide.
“CSL and Conoship will jointly explore significant opportunities for upcoming technologies including alternate fuels in short-sea-vessels, coastal shipping inland waterways, and other related services in marine, shipping and offshore industries.”, Cochin Shipyard said in an exchange filing.
Additionally, Cochin Shipyard has announced a joint venture with HBL Engineering to develop electric mobility technology and energy storage solutions for the marine space.
As per the exchange disclosure, Cochin Shipyard will have a 40 per cent shareholding in the joint venture while HBL Engineering will hold 60 per cent stake. The company said that the authorised share capital of the JV will be finalised in due course.