COCHINSHIP

Cochin Shipyard Limited has been fined Rs. 9,55,800 each by BSE and NSE for non-compliance with SEBI LODR Regulations 17(1), 18, and 19. The non-compliance relates to the composition of its Board (absence of sufficient independent directors) and the constitution of the audit and nomination & remuneration committees for the quarter ended March 31, 2026. The company attributes the delay to the Government of India's director appointment process and plans to request waivers for the fines.

Cochin Shipyard Limited reported consolidated Q4 FY26 Revenue of ₹1,484.28 Cr vs ₹1,757.65 Cr (▼15.55% YoY), EBITDA of ₹309.76 Cr vs ₹265.78 Cr (▲16.55% YoY), and PAT of ₹276.48 Cr vs ₹287.19 Cr (▼3.73% YoY). EBITDA Margin expanded from 15.12% to 20.87% (▲575bps). For the full year FY26, revenue increased 4.19% YoY to ₹5,021.87 Cr, but PAT declined 13.36% YoY to ₹716.74 Cr. A final dividend of Rs. 1.50 per share was recommended. The company highlighted a governance issue regarding the non-compliance of Board composition due to a lack of requisite independent directors. Additionally, there are significant delays and uncertainties in two passenger vessel shipbuilding contracts, with construction activities suspended and financial impact yet to be determined.

Consolidated Revenue ₹1484.28 Cr vs ₹1757.65 Cr (▼15.55% YoY), EBITDA ₹309.76 Cr vs ₹265.78 Cr (▲16.55% YoY), PAT ₹276.48 Cr vs ₹287.19 Cr (▼3.73% YoY). EBITDA Margin 20.87% vs 15.12% (▲575bps). The Board recommended a final dividend of Rs. 1.5 per equity share. The company noted issues with two shipbuilding contracts with the A&N Administration, where delivery dates expired, and discussions are ongoing for reallocation/modification of vessels.

Consolidated Revenue ₹1641.33 Cr vs ₹1914.79 Cr (▼14.3% YoY), EBITDA ₹466.82 Cr vs ₹422.92 Cr (▲10.4% YoY), PAT ₹276.48 Cr vs ₹287.19 Cr (▼3.7% YoY). EBITDA Margin 28.4% vs 22.1% (▲635bps). The Board recommended a final dividend of ₹1.5 per equity share.