Cochin Shipyard reports a weaker start to FY27 with lower profits and revenue, amid penalties for governance issues, but maintains a positive outlook driven by defence orders and future growth plans.
Cochin Shipyard reported a weaker start to FY27 on a standalone basis, with net profit falling to ₹136 crore from ₹188 crore a year earlier, according to figures cited by Sahi.com. Revenue slipped to ₹910 crore from ₹980 crore, while standalone EBITDA declined to ₹158 crore from ₹230 crore, pushing the margin down to 17.32% from 23.9%.
The softer quarterly showing points to a period of slower execution and higher costs. Sahi.com said the company also faced two penalties of ₹9.56 lakh each from BSE and NSE over corporate governance non-compliance linked to board composition. Even so, the report said long-term defence work remains in place, including the launch of the seventh anti-submarine warfare vessel being built for the Indian Navy.
Looking ahead, Cochin Shipyard is still aiming for 12% to 15% revenue growth in FY27, with a target order book of ₹21,000 crore, according to ICICI Direct research. The brokerage said the company is pursuing more commercial shipbuilding contracts in India, including potential work through the Bharat Container Shipping Line consortium, as demand for new vessels is expected to rise over the next decade.
The latest numbers come after a stronger comparable base in the previous year. Onmanorama reported that for the quarter ended June 30, 2025, Cochin Shipyard posted standalone revenue of ₹977.42 crore and standalone net profit of ₹187.86 crore, underscoring how quickly quarterly performance can swing in a business shaped by project timing, delivery schedules and segment mix.
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