Cochin Shipyard shares in news today on Q2 earnings, interim dividend 

Shares of Cochin Shipyard are in news today after the defence sector firm reported its Q2 earnings. Cochin Shipyard's consolidated net profit surged 4% to Rs 189 crore against Rs 182 crore profit in the corresponding quarter of the previous fiscal. Revenue climbed 13% to Rs 1143.2 crore in Q2 against Rs 1011.7 crore in the corresponding quarter of the previous fiscal. Cochin Shipyard's EBITDA surged 3.2% to Rs 197.3 crore in Q2 against Rs 191.2 crore in the corresponding quarter of the previous fiscal.

EBITDA margins stood at 17.3% in Q2 against 18.9% in the second quarter of the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The company declared an interim dividend of Rs 4 per equity share of Rs 5 each fully paid up (80%) for the financial year 2024-25. It has fixed Wednesday, November 20, 2024, as the Record Date for the interim dividend. The interim dividend will be paid to the eligible shareholders on or before December 06, 2024.

The board of Cochin Shipyard also cleared a plan to raise funds through the issuance of US dollar-denominated non-convertible senior unsecured fixed-rate notes. The company aims to raise up to $50 million, which may be issued in one or multiple tranches to eligible investors as permitted by applicable laws.

The results came after market hours on Thursday. Shares of Cochin Shipyard Ltd closed at Rs 1,525.65, down by Rs 7.70 or 0.50% on the BSE. Market cap of the firm stood at Rs 40,136 crore. Total 0.24 lakh shares of the firm changed hands amounting to a turnover of Rs 3.61 crore on BSE. 

Cochin Shipyard Limited is engaged in the shipbuilding and ship repair business. The company is engaged in the construction of vessels and repairs and refits of all types of vessels including upgradation of ships periodical layup repairs and life extension of ships.