2:1 Stock Split, Rs 8/Share Dividend: PSU Defence Stock Reports 61% Jump In Net

Mid cap Defence sector public sector undertaking Cochin Shipyard Ltd shares today soared 3.69% intraday after the company approved 2:1 stock split and an interim dividend of Rs 8 per equity of Rs 10 each fully paid up (80%) for FY 2023-24. The record date for interim dividend is November 20, 2023. Last trading price of Cochin Shipyard share on BSE is Rs 1042.00 per share. Cochin Shipyard stock offered return of 96.70% year-to-date and soared 186% in last 2-years. Check details below:

Cochin Shipyard Approves Stock Split: According to the BSE filing of the company issued today, "Approved the sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 2 (Two) Equity Shares of face value of Rs. 5/- (Rupees Five Only) each fully paid up, subject to shareholders approval."

The record date for the purpose of above sub-division/ split of Equity Shares shall be decided after obtaining approval for sub-division/ split from the shareholders through postal ballot electronic voting process and will be intimated in due course.

Cochin Shipyard Ltd Declares Dividend: As per the regulatory filing declared today the company also "declared an interim dividend of Rs. 8.00 per equity share of Rs. 10 each fully paidup (80%) for the financial year 2023-24 and fixed Monday, November 20, 2023 as the Record Date for the aforesaid interim dividend." The aforesaid interim dividend shall be paid to the eligible shareholders on or before December 06, 2023.

Cochin Shipyard Ltd Announces Q2 Result: Cochin Shipyard for the quarter ended September declared a jump of 61% in its net profit to Rs 181.5 crore as compared to Rs 112. 79 crore in the corresponding period of last year. Revenue from operations of the company declared at Rs 1011.71 crore, up 48% as against Rs 683.18 crore reported in the corresponding quarter of last year.

The company declared its other income soared to Rs 87.56 crore for the quarter under consideration as compared to Rs 61.56 crore in the same quarter of last year. The company's EBITDA soared by 41.2% to Rs 191.2 crore and margin narrowed by 80 basis points to 19% from 19.8%. Growth largely arrived from the ship building and repair segment that jumped by 48% from last year.

Cochin Shipyard Stock Performance & Return: Last trading price of Cochin Shipyard share on BSE is Rs 1042.00 per share. Its 52-week high price is Rs 1258.00 per share and 52-week low price is Rs 411.00 per share, respectively. The company's market capitalisation is Rs 13,706.51 crore.

Cochin Shipyard shares rallied 96% YTD, jumped 90% in last 6-months, soared 74% in last 1-year, gained 186% in last 2-years, and offered return of 211% in last 3-years.

About: Cochin Shipyard was incorporated in the year 1972 as a fully owned Govt of India company. In the last three decades the company has emerged as a forerunner in the Indian Shipbuilding & Ship repair industry. This yard can build and repair the largest vessels in India. It can build ships up to 1,10,000 DWT and repair ships up to 1,25,000 DWT. The yard has delivered two of India's largest double hull Aframax tankers each of 95,000 DWT, according to its official website.

Disclaimer: The stock just highlights the dividend, stock split, Q2 result and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.