Cochin Shipyard Dividend of Rs 4: November 20 Record Date; Buy Miniratna Stock?

A Schedule A Miniratna organisation under the Ministry of Ports, Shipping, and Waterways, Cochin Shipyard Limited (CSL) is one of India's top shipbuilding and repair yards. Cochin Shipyard Premises, Administrative Building, Kochi, Kerala is home to CSL's registered office. CSL's equity shares are listed in BSE and NSE with 72.86% of the company's equity share capital being owned by the Indian government.

Cochin Shipyard Dividend

The Board of Directors "Declared an interim dividend of Rs. 4/- per equity share of Rs. 5/- each fully paidup (80%) for the financial year 2024-25. Fixed Wednesday, November 20, 2024 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, 2024," said the company in a stock exchange filing.

Cochin Shipyard Financials

For the second quarter ending September 30, 2024, the shipbuilder recorded a 4% year-on-year (YoY) rise in net profit at Rs 189 crore. According to a regulatory filing, Cochin Shipyard reported a net profit of Rs 182 crore for the corresponding quarter of the previous fiscal year. Compared to the equivalent period of the previous fiscal year, when it was Rs 1,011.7 crore, the company's revenue climbed 13% to Rs 1,143.2 crore in Q2FY25. In the second quarter of this fiscal year, EBITDA increased 3.2% to Rs 197.3 crore from Rs 191.2 crore during the same time in the previous fiscal year. In the quarter under review, the EBITDA margin was 17.3%, down from 18.9% during the same time in the prior fiscal year.

Cochin Shipyard Share Price Target

"Cochin Shipyard stock price is oversold and bearish on the Daily charts with next support at 1226. Investors should be looking to buy only if the Daily close is above the resistance of 1352 for a target of 1478 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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