Cochin Shipyard shares on today’s news of excellent Q1 results

Cochin Shipyard stock is in the spotlight today after the state-owned company reported a 77 per cent jump in net profit for the quarter ending June 2024. Net profit rose to Rs 174.2 crore in the first quarter of FY25 as compared to Rs 98.6 crore in the corresponding period of the previous fiscal. However, net profit fell 33 per cent from Rs 258.8 crore in the March quarter.

Shares of Cochin Shipyard ended Thursday down 1.59 per cent at Rs 2,311.80 from the previous close of Rs 2,349.15 on the BSE. The defence stock’s market capitalisation fell to Rs 60,819 crore.

Shares of Cochin Shipyard opened higher at Rs 2,368.15 on the BSE. A total of 0.81 lakh shares of the company changed hands, leading to a turnover of Rs 18.99 crore on the BSE. Cochin Shipyard’s one-year beta is 1.1, indicating very high volatility during the period.

The company’s shares delivered a multiple return of 239% in 2024 and are up 594% for the year.

Technically, the Relative Strength Index (RSI) of the stock is 42.1 which means the stock is neither trading in the overbought nor oversold zone. Cochin Shipyard stock is trading higher than 100-day, 150-day, 200-day but lower than 5-day, 10-day, 20-day, 30-day and 50-day moving averages.

The company’s revenue from operations grew 62.1 per cent to Rs 771.47 crore in the last quarter as compared to Rs 475.86 crore in the same period last year. However, it fell significantly from Rs 1,286 crore in the previous quarter

At the operating level, EBITDA grew by 125.29% to Rs 177.3 crore in the first quarter as compared to Rs 78.7 crore in the corresponding period of the previous fiscal.

EBITDA margins were 23% in Q1 compared to 16.5% in the same period of the previous fiscal year. EBITDA is earnings before interest, taxes, depreciation and amortization.

Cost of inputs almost doubled to Rs 316.6 crore in the June quarter from Rs 166.4 crore in the same period a year ago. In the March quarter, it was Rs 626.5 crore.