Miniratna company Cochin Shipyard declares dividend of ₹7: Record date view

Cochin Shipyard said in a stock exchange filing that the board of directors has “declared an interim dividend of Rs.02.7.00 per equity share. 10 each fully paid (70%) for the financial year 2022-23; and Wednesday, February 22 2023 has been fixed as the record date for the aforesaid interim dividend.”

In Q3FY23, Cochin Shipyard reports net profit 110.40 cr as against 129.38 Cr in Q3FY22, representing a decline of 14%. The company posted Profit Before Tax (PBT) 140.46 cr as against 175.04 Cr in the year-ago quarter, representing a decline of 19.75% YoY.

The company recorded revenue from operations of 641.65 crore in the quarter ending December 2022 as compared to Rs. 952.88 Cr in the quarter ending December 2021, representing a decline of 32% YoY. Cochin Shipyard records net expense 524.38 Cr in Q3FY23 as compared to Rs. 840.86 crore in the year-ago quarter while the company’s EPS reached against 8.39 in Q3FY23 9.84 in the year-ago quarter.

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

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