Rs 2.25/Share Dividend: Defence PSU Records 559% YoY Jump In Q4 Net Profit

Defence PSU Cochin Shipyard Ltd (CSL) today announced a massive surge of 558.8% year-on-year (YoY) surge in its net profit to Rs 258.9 crore for Q4 ended March 31, 2024 as against the net profit of Rs 39.3 crore reported in the corresponding quarter of last year. The Board of Cochin Shipyard also recommended a final dividend of Rs 2.25 per equity share of the face value of Rs 5/share for the financial year 2023-24.

Cochin Shipyard Recommends Dividend: As per the BSE filing of the PSU dated May 24, 2024, "Board has recommended a final dividend of Rs. 2.25 per equity share of face value of Rs. 5 each, for the financial year 2023-24 subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The final dividend would be paid within 30 days from the date of its declaration at the AGM."

Cochin Shipyard Q4 Results: The defence PSU announced a jump of 114.33% in its March 2024 quarter revenue from operations to Rs 1,286 crore as compared to Rs 600 crore declared in the corresponding quarter of last year. EBITDA of the state-run firm, at the operating level, soared to Rs 288.3 crore for Q4 of this fiscal as against the loss of Rs 67.1 crore in the similar quarter of last year. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Cochin Shipyard Share Performance: Current market price of Cochin Shipyard share on BSE is Rs 1912.20 per share with intraday gain of 0.94%. Cochin Shipyard shares today hit 4th 52-week high in a row on BSE. Cochin Shipyard shares recorded attractive surge of 35.18% in last 1-week only and jumped 181% year-to-date. The 52-week high price of the defence PSU is Rs 2034.00 per share (24/05/2024) and 52-week low price is Rs 234.53 apiece (25/05/2023), respectively. Its market capitalisation is Rs 50,306.31 crore. Cochin Shipyard shares rallied massively by 122% in last 3-months only, soared 241% in just last 6-months span, rose 684% in last 1-year only, and rose 1047% in last 2-years.

Cochin Shipyard Dividend History: Cochin Shipyard declared 15 dividends since August 6, 2018. In last 1-year, Cochin Shipyard declared an equity dividend amounting to Rs 14.50 per share. If current share price of Rs 1912.20 is taken into perspective, Cochin Shipyard gives investors a dividend yield of 0.75%. Adjusting for Bonus/Splits the dividend yield is 0.47%, according to Trendlyne data.

Cochin Shipyard Stock Split History: Cochin Shipyard shares traded ex-split in the proportion of 2:1 on January 10, 2024. It was the maiden stock split that the PSU declared to make shares affordable.

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.