In the corresponding quarter of the previous fiscal, Cochin Shipyard posted a net profit of Rs 182 crore, the company said in a regulatory filing. The company’s revenue from operations increased 13% to Rs 1,143.2 crore as against Rs 1,011.7 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA was up 3.2% to Rs 197.3 crore in the second quarter of this fiscal over Rs 191.2 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 17.3% in the reporting quarter as compared to 18.9% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The company also declared an interim dividend of Rs 4 per equity share of Rs 5 each fully paid up (80%) for the financial year 2024-25. It has fixed Wednesday, November 20, 2024, as the Record Date for the interim dividend. The interim dividend will be paid to the eligible shareholders on or before December 06, 2024.
Meanwhile, Cochin Shipyard has approved a plan to raise funds through the issuance of US dollar-denominated non-convertible senior unsecured fixed-rate notes. The company aims to raise up to $50 million, which may be issued in one or multiple tranches to eligible investors as permitted by applicable laws.The Notes could be listed on one or more overseas exchanges or on Indian platforms such as the India International Exchange (IFSC) Limited or NSE IFSC Limited. The primary purpose of this fundraising is to finance Cochin Shipyard’s eligible sustainable projects or other permissible uses in accordance with applicable regulations.On Thursday, Cochin Shipyard’s shares closed at Rs 1,525.6 on BSE. Its shares have surged 123% in 2024 to date and 409% over the past two years, with the company currently holding a market capitalization of Rs 39,593 crore.
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