Cochin Shipyard shares gain on MoU to build ship repair clusters 

Shares of Cochin Shipyard Ltd were trading higher in early deals on Wednesday after Drydocks World, a DP World company inked a Memorandum of Understanding (MOU) with the ship building firm  to enable development of ship repair clusters, synergizing mutual strengths. 

In the current session, the defence sector stock rose over 1% to Rs 1398 on BSE. Cochin Shipyard’s market cap rose to Rs 36,424 crore. 

The multibagger stock is trading neither in the oversold nor in the overbought zone, indicates its relative strength index (RSI) at 49.8. 

The stock is amid a major bearish trend as it is trading lower than the 5 day, 10 day, 20 day, 100 day, 150 day ,200 day but higher than the 30 day and 50 day moving averages.

Total 1,661 shares of the firm changed hands amounting to a turnover of Rs 23.05 lakh on BSE in early deals. 

The multibagger stock has fallen 12% in 2025 and risen 21.08% in a year. In two years, the stock has risen 467%. 

"This is expected to bring global best practices to the Ship repair ecosystem in the country and add significant capacities. The MOU also provides for cooperation in potential offshore fabrication opportunities engaging other entities like major ports. This collaboration will explore opportunities to develop ship repair clusters along India’s coastline leveraging the expertise of both organisation," said Cochin Shipyard.  

Drydocks World is a leading service provider for the maritime and offshore oil and gas, and renewable energy industries globally. 

Cochin Shipyard's net profit slipped 27.6% to Rs 177 crore in  Q3 against Rs 244 crore profit in the corresponding quarter of the previous fiscal. Revenue climbed 8.6% to Rs 1147.6 crore in Q3 against Rs 1056.4 crore in the corresponding quarter of the previous fiscal. The compnay's EBITDA slipped 23.4% to Rs 237.4 crore in Q3 against Rs 310.1 crore in the corresponding quarter of the previous fiscal.

The board declared a second interim dividend of Rs 3.50 per equity share of face value of Rs 5 each for the financial year ending March 31, 2025. This is in addition to the interim dividend of Rs 4, which was recommended by the board on November 7 last year. 

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.