Q4FY21 Result Update - Cochin Shipyard - ICICI Direct

Cochin Shipyard exited FY21 with an outstanding performance in Q4 wherein revenue and operating margins were a beat to our estimates. Ship repair segment, which was lagging since Covid, has now kicked in strong revenue and margins adding thrust to Cochin's overall performance. The company declared a dividend of Rs. 2.5 per share during the quarter. Revenue for the quarter came in at Rs. 1080.3 crore (vs. I-direct estimate of Rs. 975 crore), up 32.3% YoY, 44.3% QoQ. Gross margins contracted ~411 bps YoY, 2150 bps QoQ (YoY being a higher base, QoQ being a one-off exception). However, on a broader perspective, GMs were in their median range. EBIDTA increased 58% YoY to Rs. 257.5 crore (I-direct estimate of Rs. 187 crore). Ensuing EBIDTA margins came in at 23.8% vs. 20% YoY (I-direct estimate: 19.2%). Ensuing PAT came in at Rs. 236.2 crore, up 70.2% YoY, 5.6% QoQ.

For details, click on the link below: Link to the report

Shares of Cochin Shipyard Ltd was last trading in BSE at Rs.411 as compared to the previous close of Rs. 410.45. The total number of shares traded during the day was 51210 in over 2106 trades.

The stock hit an intraday high of Rs. 414.75 and intraday low of 400.05. The net turnover during the day was Rs. 20899004.

Source : Equity Bulls

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