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Cochin Shipyard Shares Surge Past Rs 2,000 Following Strong Q4 Earnings

The defence PSU reported a 27% profit increase and announced dividends, while brokerages revised targets upward despite cautious ratings.

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Cochin Shipyard tops Rs 2,000-mark for 1st time since Aug 2024; here's target price
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Overview

  • Cochin Shipyard's consolidated Q4 profit rose 27% to Rs 287.18 crore, with revenues up 37% to Rs 1,757.65 crore, and a final dividend of Rs 2.25 per share declared.
  • Shares of Cochin Shipyard jumped 12.51% to Rs 2,039, marking a six-session rally and hitting their highest level since August 2024.
  • Antique Stock Broking raised its target price for Cochin Shipyard by 11% to Rs 1,640, citing robust order books but maintained a HOLD rating due to uncertainty around future projects.
  • Cochin Shipyard's Rs 22,500 crore order book and its strategic ship repair agreement with the US Navy position it to benefit from the global ship repair market projected to grow to $40 billion by 2030.
  • Investor optimism in defence PSUs has been bolstered by strong Q4 results, policy-driven indigenisation efforts, and the strategic success of India's Operation Sindoor.