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Last Updated: April 2, 2026, 2:47 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 540678 | NSE: COCHINSHIP

Cochin Shipyard Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,380.24Fairly Valued by 3.08%vs CMP ₹1,339.00

P/E (49.5) × ROE (15.8%) × BV (₹219.00) × DY (0.73%)

₹534.77Overvalued by 60.06%vs CMP ₹1,339.00
MoS: -150.4% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,434.5122%Fair (+7.1%)
Graham NumberEarnings₹364.9516%Over (-72.7%)
Earnings PowerEarnings₹194.0413%Over (-85.5%)
DCFCash Flow₹310.5913%Over (-76.8%)
Net Asset ValueAssets₹219.507%Over (-83.6%)
EV/EBITDAEnterprise₹255.219%Over (-80.9%)
Earnings YieldEarnings₹270.307%Over (-79.8%)
ROCE CapitalReturns₹399.409%Over (-70.2%)
Revenue MultipleRevenue₹172.175%Over (-87.1%)
Consensus (9 models)₹534.77100%Overvalued
Key Drivers: Wide model spread (₹172–₹1,435) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 3.9%

*Investments are subject to market risks

Investment Snapshot

61
Cochin Shipyard Ltd scores 61/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health87/100 · Strong
ROCE 20.4% ExcellentROE 15.8% GoodD/E 0.03 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 67.9% Stable
Earnings Quality65/100 · Strong
OPM expanding (16% → 22%) Improving
Quarterly Momentum40/100 · Moderate
Revenue (4Q): +16% YoY GrowingProfit (4Q): -13% YoY DecliningOPM: 14.0% (down 9.0% YoY) Margin pressure
Industry Rank40/100 · Moderate
P/E 49.5 vs industry 32.0 Premium to peersROCE 20.4% vs industry 19.5% Average3Y sales CAGR: 12% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:47 am

Market Cap 35,216 Cr.
Current Price 1,339
Intrinsic Value₹534.77
High / Low 2,547/1,187
Stock P/E49.5
Book Value 219
Dividend Yield0.73 %
ROCE20.4 %
ROE15.8 %
Face Value 5.00
PEG Ratio12.59

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Cochin Shipyard Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Cochin Shipyard Ltd 35,216 Cr. 1,339 2,547/1,18749.5 2190.73 %20.4 %15.8 % 5.00
Swan Defence and Heavy Industries Ltd 8,348 Cr. 1,585 2,518/95.0 46.50.00 %5.76 %46.3 % 10.0
Mazagon Dock Shipbuilders Ltd 93,512 Cr. 2,318 3,778/2,05740.7 2000.75 %48.8 %36.5 % 5.00
Hariyana Ship Breakers Ltd 58.9 Cr. 95.5 149/82.25.77 2430.00 %3.20 %1.10 % 10.0
Industry Average45,692.00 Cr1,334.3831.99177.130.37%19.54%24.93%7.50

All Competitor Stocks of Cochin Shipyard Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 6315774449541,0211,2257101,0971,0701,6519779511,165
Expenses 4776433627597109395279018281,398744895999
Operating Profit 154-668219531128618219624225323456166
OPM % 24%-11%18%20%30%23%26%18%23%15%24%6%14%
Other Income 231318488567980100451565512773
Interest 12-28986691111111726
Depreciation 1491315151414212722292628
Profit before tax 15158145258345345242266249376249140186
Tax % 21%19%25%26%28%23%25%28%26%24%24%28%26%
Net Profit 11847109191248265181193184285188101138
EPS in Rs 4.501.804.167.269.4310.066.877.347.0110.827.143.845.23

Last Updated: February 6, 2026, 7:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 7:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,7981,5831,9902,0592,3552,9663,4222,8193,1902,3303,6454,5284,745
Expenses 1,3811,4931,5981,6691,8902,3922,7082,0922,5552,0572,7603,6424,036
Operating Profit 41790393390465574714727635273885886710
OPM % 23%6%20%19%20%19%21%26%20%12%24%20%15%
Other Income 6177107154189227247194266268307380411
Interest 20191212121550575342424964
Depreciation 253837393834495354515784105
Profit before tax 4331104504936057518638117944481,0941,134951
Tax % 35%37%35%35%34%36%26%25%26%25%26%26%
Net Profit 28269292322397481638610587334813843711
EPS in Rs 12.433.0612.8814.1914.5918.2924.2423.1922.2912.7130.9132.0427.03
Dividend Payout % 6%25%30%32%41%36%34%33%38%67%32%30%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-75.53%323.19%10.27%23.29%21.16%32.64%-4.39%-3.77%-43.10%143.41%3.69%
Change in YoY Net Profit Growth (%)0.00%398.72%-312.91%13.02%-2.13%11.48%-37.03%0.62%-39.33%186.51%-139.72%

Cochin Shipyard Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:6%
3 Years:12%
TTM:23%
Compounded Profit Growth
10 Years:28%
5 Years:6%
3 Years:13%
TTM:-4%
Stock Price CAGR
10 Years:%
5 Years:59%
3 Years:107%
1 Year:-13%
Return on Equity
10 Years:15%
5 Years:14%
3 Years:13%
Last Year:16%

Last Updated: September 5, 2025, 2:05 am

Balance Sheet

Last Updated: December 4, 2025, 1:07 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 113113113113136132132132132132132132132
Reserves 1,3761,4411,7111,9153,1203,2013,6003,8464,2284,2924,8945,4795,641
Borrowings 3341231231231231231235325465674895011,048
Other Liabilities 1,1641,2141,4021,1702,1031,7932,5542,8933,4134,9196,3666,9346,910
Total Liabilities 2,9872,8913,3493,3215,4825,2486,4097,4038,3189,90911,88013,04513,730
Fixed Assets 3703703703713493757567567407167222,8042,927
CWIP 81324541153417681,0621,2471,6032,189511575
Investments 0000166065214262336355359360
Other Assets 2,6092,5082,9542,8975,0014,4724,8195,3716,0697,2548,6149,3729,868
Total Assets 2,9872,8913,3493,3215,4825,2486,4097,4038,3189,90911,88013,04513,730

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -58466340212632-4482536701,4152,051-173-269
Cash from Investing Activity + 15164765-1,3281,044-74-446-1,011-226478613
Cash from Financing Activity + 271-235-32-113812-409-309-405-238-272-371-279
Net Cash Flow -29844455165116186-130-1811661,553-6565
Free Cash Flow -605623-6142558-732-2103261,1911,730-789-749
CFO/OP -119%821%44%93%169%-43%61%107%247%792%2%-14%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow83.00-33.00270.00267.00342.00451.00591.00195.0089.00-294.00396.00385.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 24413483549048314650522918
Inventory Days 177113817098706513065116215323
Days Payable 7764745983848513037699571
Cash Conversion Cycle 34518491661043410467899150271
Working Capital Days 232-71-95-57-114-279-5-92-426-174-56
ROCE %30%7%26%25%22%22%25%21%18%9%22%20%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 72.86%72.86%72.86%72.86%72.86%72.86%72.86%67.91%67.91%67.91%67.91%67.91%
FIIs 6.28%5.73%5.82%4.11%5.23%4.94%3.84%2.91%2.88%3.87%3.22%2.74%
DIIs 3.78%3.21%2.24%2.20%2.45%2.50%3.00%6.63%6.82%6.33%6.48%6.47%
Public 17.07%18.19%19.07%20.84%19.47%19.71%20.31%22.54%22.39%21.90%22.38%22.88%
No. of Shareholders 1,69,2641,80,9792,66,4372,92,2123,96,3276,34,0758,41,9689,81,56710,11,97010,11,54110,03,9309,90,291

Shareholding Pattern Chart

No. of Shareholders

Cochin Shipyard Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Invesco India PSU Equity Fund 263,513 2.93 43.74238,4882026-01-26 03:35:3710.49%
Invesco India Infrastructure Fund 220,014 2.74 36.5260,0002026-01-26 01:11:58266.69%
Canara Robeco Large and Mid Cap Fund 98,600 0.07 16.3733,7402025-12-15 02:42:52192.23%
Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund 2,813 0.19 0.472,7652026-02-23 01:06:271.74%
Samco Dynamic Asset Allocation Fund 1,876 0.13 0.314,8552026-02-23 00:43:38-61.36%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.0010.0010.0010.00
Basic EPS (Rs.) 31.4529.7723.1642.8746.27
Diluted EPS (Rs.) 31.4529.7723.1642.8746.27
Cash EPS (Rs.) 35.3732.6128.4048.1750.82
Book Value[Excl.RevalReserv]/Share (Rs.) 212.07190.18336.60333.98306.63
Book Value[Incl.RevalReserv]/Share (Rs.) 212.07190.18336.60333.98306.63
Revenue From Operations / Share (Rs.) 183.21145.60179.76242.58214.30
PBDIT / Share (Rs.) 48.1644.8135.0167.3168.92
PBIT / Share (Rs.) 44.2341.9729.7762.0264.37
PBT / Share (Rs.) 42.7740.7131.8158.2361.44
Net Profit / Share (Rs.) 31.4529.7723.1642.8746.27
NP After MI And SOA / Share (Rs.) 31.4529.7723.1642.8746.27
PBDIT Margin (%) 26.2830.7719.4727.7432.16
PBIT Margin (%) 24.1428.8216.5625.5630.03
PBT Margin (%) 23.3427.9517.6924.0028.66
Net Profit Margin (%) 17.1620.4412.8817.6721.59
NP After MI And SOA Margin (%) 17.1620.4412.8817.6721.59
Return on Networth / Equity (%) 14.8215.656.8812.8315.09
Return on Capital Employeed (%) 19.0019.987.9916.4818.48
Return On Assets (%) 6.176.503.046.708.09
Long Term Debt / Equity (X) 0.000.000.010.020.03
Total Debt / Equity (X) 0.010.000.030.020.03
Asset Turnover Ratio (%) 0.370.340.250.400.40
Current Ratio (X) 1.331.331.391.681.72
Quick Ratio (X) 1.071.171.321.591.57
Inventory Turnover Ratio (X) 3.315.483.304.423.27
Dividend Payout Ratio (NP) (%) 31.0030.2276.6236.1560.51
Dividend Payout Ratio (CP) (%) 27.5627.6062.5032.1755.09
Earning Retention Ratio (%) 69.0069.7823.3863.8539.49
Cash Earning Retention Ratio (%) 72.4472.4037.5067.8344.91
Interest Coverage Ratio (X) 32.8435.4613.1518.7917.69
Interest Coverage Ratio (Post Tax) (X) 22.4524.567.9313.0312.63
Enterprise Value (Cr.) 33961.3419093.091633.54776.962850.78
EV / Net Operating Revenue (X) 7.054.980.690.241.01
EV / EBITDA (X) 26.8116.203.550.873.14
MarketCap / Net Operating Revenue (X) 7.685.992.651.211.75
Retention Ratios (%) 68.9969.7723.3763.8439.48
Price / BV (X) 6.634.581.410.881.22
Price / Net Operating Revenue (X) 7.685.992.651.211.75
EarningsYield 0.020.030.040.140.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Cochin Shipyard Ltd. is a Public Limited Listed company incorporated on 29/03/1972 and has its registered office in the State of Kerala, India. Company's Corporate Identification Number(CIN) is L63032KL1972GOI002414 and registration number is 002414. Currently Company is involved in the business activities of Building of ships and boats. Company's Total Operating Revenue is Rs. 4527.84 Cr. and Equity Capital is Rs. 131.54 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Ship - Docks/Breaking/RepairsAdministrative Building, Ernakulam Kerala 682015Contact not found
Management
NamePosition Held
Mr. Madhu S NairChairman & Managing Director
Dr. S HarikrishnanDirector - Operations
Mr. V J JoseDirector - Finance & CFO
Mr. Rajesh GopalakrishnanDirector - Technical
Mr. S VenkatesapathyPart Time Official (Nominee) Director
Mr. P B NoohPart Time Official (Nominee) Director
Dr. Seema SuriNon Official Independent Director

FAQ

What is the intrinsic value of Cochin Shipyard Ltd and is it undervalued?

As of 10 April 2026, Cochin Shipyard Ltd's intrinsic value is ₹534.77, which is 60.06% lower than the current market price of ₹1,339.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (15.8 %), book value (₹219), dividend yield (0.73 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Cochin Shipyard Ltd?

Cochin Shipyard Ltd is trading at ₹1,339.00 as of 10 April 2026, with a FY2026-2027 high of ₹2,547 and low of ₹1,187. The stock is currently near its 52-week low. Market cap stands at ₹35,216 Cr..

How does Cochin Shipyard Ltd's P/E ratio compare to its industry?

Cochin Shipyard Ltd has a P/E ratio of 49.5, which is above the industry average of 31.99. The premium over industry average may reflect growth expectations or speculative interest.

Is Cochin Shipyard Ltd financially healthy?

Key indicators for Cochin Shipyard Ltd: ROCE of 20.4 % indicates efficient capital utilization; ROE of 15.8 % shows strong shareholder returns. Dividend yield is 0.73 %.

Is Cochin Shipyard Ltd profitable and how is the profit trend?

Cochin Shipyard Ltd reported a net profit of ₹843 Cr in Mar 2025 on revenue of ₹4,528 Cr. Compared to ₹587 Cr in Mar 2022, the net profit shows an improving trend.

Does Cochin Shipyard Ltd pay dividends?

Cochin Shipyard Ltd has a dividend yield of 0.73 % at the current price of ₹1,339.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Cochin Shipyard Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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