Cochin Shipyard shares strong

Today i.e. Friday morning, there was a tremendous rise in the shares of Cochin Shipyard. The company released its March quarter results on Thursday after the market was closed, after which the trust of the investors strengthened. Today, at the beginning of trading, the stock climbed around 9% and reached Rs 1988.

Cochin Shipyard’s stock opened on BSE at 1858 on Friday, which was about 2.5% higher than the previous day’s closing price of Rs 1812.30. After this, it climbed further during trading and reached Rs 1988, which led to a total increase of more than 9% in Intrade.

27% profit in March quarter, revenue also increased

The company’s profit increased by 27% in this quarter to Rs 287.18 crore, which was Rs 258.88 crore at the same time last year. At the same time, the operating revenue also gained good lead and it rose 36.7% to Rs 1,757.65 crore on a annual basis.

Slight decline in ebitda and margin

Although there was an increase in profits and revenue, the company’s Ebitda was Rs 266 crore in this quarter, which is 7.6% less than the previous year. Apart from this, the company’s margin has also come down from 22.40% to 15.10%. That is, there has been a decline of about 730 basis points in the margin.

Dividend’s announcement

Cochin Shipyard has proposed to give a final dividend of Rs 2.25 per share for the financial year 2024-25. This dividend will be available on equity share with 5 rupees face value. Dividend shareholders will be given the company’s next AGM i.e. annual meeting within 30 days of getting approval.

Why this stock is in the eyes of investors

In view of strong results, good dividends and the company’s growth outlook, the trend of investors has increased towards this stock. Many analysts believe that the Future of the Cochin Shipyard is looking strong due to government orders and defense projects.