Cochin Shipyard has executed its joint venture agreement with Drydocks World Dubai – FZCO, a DP World company. Cochin Shipyard and DDW will each hold a 50% stake. The company will be run by a five-member board.
Cochin Shipyard-DPW ownership structure
As part of the deal, the ISRF will be transferred to the joint venture on a slump sale basis, valued at not less than Rs 1,800 crore. Cochin Shipyard will receive half of that consideration in cash. The other half will come as shares in the joint venture company.
DDW will nominate three directors and the senior management, including the CEO, CFO and COO where applicable. Cochin Shipyard will nominate two directors.
Cochin Shipyard-DPW JV details
The new entity will own and operate Cochin Shipyard’s International Ship Repair Facility at Willingdon Island in Kochi. The facility handles dry-docking, maintenance, repair and overhaul of commercial and naval vessels under 130 metres in length and 6,000 tonnes in weight. The joint venture also plans to add ten workstations to expand capacity at the site, as per the filing.
The ISRF spans about 30 hectares of land and water, leased from the Cochin Port Authority for 60 years. It was built for Rs 970 crore and includes a 6,000-tonne ship lift and transfer system, six workstations and roughly 1,400 metres of berthing space. It can service up to six vessels at once and has an annual throughput capacity of 82 ships. Prime Minister Narendra Modi inaugurated the facility on January 17, 2024. Commercial operations began that August.
The ISRF earned Rs 207.33 crore in revenue in the 2025-26 financial year. That is about 4.81% of Cochin Shipyard’s total revenue from operations for the year. An independent third-party valuation placed the facility’s worth at Rs 1,800 crore, which works out to about 30.55% of the company’s net worth of Rs 5,892.83 crore as of March 31, 2026.
About Cochin Shipyard
Cochin Shipyard is a Schedule A Miniratna company under the Ministry of Ports, Shipping, and Waterways, and is counted among India’s leading shipbuilding and repair yards. Incorporated in 1972, it builds and repairs vessels ranging from bulk carriers to more advanced ships such as platform supply vessels and anchor handling tug supply vessels, and has exported around 45 ships to clients outside India.
The Government of India holds a majority stake in the company. The company is headquartered in Kochi, Kerala.
Cochin Shipyard share price today
Cochin Shipyard’s share price has been down 2.81% intraday on September 15. The company’s share price has declined 11.06% in the past month. Furthermore, Cochin Shipyard’s share price has fallen 23.11% in the last one year.