Miniratna company Cochin Shipyard declares dividend of  ₹7: Check record date

Miniratna company Cochin Shipyard declares dividend of ₹7: Check record date


One of the top shipbuilding and repair yards in India, Cochin Shipyard is recognised by the Indian government as a Miniratna I CPSE and one of the top 10 PSUs in the country. Today, the corporation announced its third quarter earnings and a dividend for the fiscal year 2022–2023.

Cochin Shipyard said in a stock exchange filing that the Board of Directors has “Declared 02nd interim dividend of Rs. 7.00 per equity share of Rs. 10 each fully paid-up (70%) for the financial year 2022-23; and fixed Wednesday, February 22, 2023 as the Record Date for the aforesaid interim dividend.”

In Q3FY23, Cochin Shipyard recorded a net profit of 110.40 Cr compared to 129.38 Cr in Q3FY22, representing a fall of 14%. The company posted a profit before tax (PBT) of 140.46 Cr compared to 175.04 Cr in the year-ago quarter, representing a fall of 19.75% YoY.

The company recorded revenue from operations of 641.65 crore in the quarter ended December 2022 compared to 952.88 Cr in the quarter ended December 2021, representing a fall of 32% YoY. Cochin Shipyard recorded net expenses of 524.38 Cr in Q3FY23 compared to 840.86 Cr in the year-ago quarter whereas the company’s EPS reached 8.39 in Q3FY23 against 9.84 in the year-ago quarter.

The shares of Cochin Shipyard closed today on the NSE at 478 apiece level, down by 1.25% from the previous close of 484.05. The stock recorded a net average volume of 655,696 shares compared to the delivery volume average of 16,569,438 shares. In the last 1 year the stock has gained 45.29% and on a YTD basis it has fallen 9.80% so far in 2023. 

The stock touched a 52-week-high of 687.00 on (05-Dec-2022) and a 52-week-low of 280.75 on (08-Mar-2022), indicating that at the current market price, the stock is trading 30.42% below the 1 year high and 70.25% above the 1 year low. For the quarter ended December 2022, the company reported promoter shareholding of 72.86%, FIIs stake of 6.87%, DIIs stake of 3.87% and public stake of 16.39%.

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