During Monday’s trading session, shares of one of the leading shipbuilding and repair yards in India surged nearly 2 percent on BSE, after the company announced securing an order worth up to Rs. 250 crores from Polestar Maritime Limited.
With a market cap of Rs. 54,331.4 crores, at 11:21 a.m., the shares of Cochin Shipyard Limited were trading in the green at Rs. 2,066 on BSE, up by around 1 percent, as against its previous closing price of Rs. 2,045. The stock has delivered negative returns of around 9 percent in one year, but has gained by over 7 percent in the last one month.
What’s the News
According to the latest filings with the stock exchanges, Cochin Shipyard Limited (CSL) has secured a Notable* order worth up to Rs. 250 crores from Polestar Maritime Limited for the construction of two Tugs of 70 T Bollard Pull Power. The first vessel is scheduled for delivery in May 2027, followed by the second in September 2027. Polestar Maritime is a major player in the niche market of harbour tugs, coastal towing & assistance and marine services at ports. This new order comes in addition to an earlier order for three similar tugs placed with Udupi Cochin Shipyard Limited (Udupi-CSL), a wholly owned subsidiary of CSL.
The tugs will be built to the designs of Robert Allan Limited, a globally recognised design house for harbour tugs. CSL and Udupi-CSL have introduced the Robert Allan Tugs in India, in line with the Government’s Approved Standard Tug Design and Specifications (ASTDS) initiative under the Atma Nirbhar Bharat (self-reliant India) mission.
Construction will be a collaborative effort between CSL and Udupi-CSL under a work-share model, with both vessels being built at CSL’s yard in Cochin. Each tug will be powered by twin main engines rated at 1838 kW, paired with 2.7m propellers supplied by Niigata IHI Power Systems Co. Limited, Japan.
So far, the CSL Group has delivered four tugs under the ‘Make in India’ initiative. With this latest order, the company’s order book now includes 18 tugs and 2 green (eco-friendly) tugs, all in different stages of construction.
Financials & more
Cochin Shipyard reported a significant growth in its revenue from operations, showing a year-on-year rise of around 37 percent from Rs. 1,286 crores in Q4 FY24 to Rs. 1,758 crores in Q4 FY25.Similarly, its net profit increased during the same period from Rs. 259 crores to Rs. 287 crores, representing a marginal growth of around 11 percent YoY.
Cochin Shipyard Limited is one of the leading shipyards in India, owned by the Government of India and located in Kerala. It holds a “Miniratna” status and is primarily engaged in the business of shipbuilding and ship repair, catering to both the domestic and international markets.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
The post Defence stock jumps after securing order worth up to ₹250 Cr from Polestar Maritime appeared first on Trade Brains.