Cochin Shipyard Q3 Results: Cons PAT down 18% YoY, revenue up 18%. Rs 3.50/share dividend announced

State-owned Cochin Shipyard reported an 18% decline in consolidated net profit in the December quarter at Rs 145 crore, compared to Rs 177 crore in the year-ago period. Operating revenue also rose 18% to Rs 1,350 crore in Q3FY26, compared to Rs 1,148 crore in the corresponding quarter of the last fiscal. The defense major PSU has also declared an interim dividend of Rs 3.50 per equity share for the financial year FY26 and has fixed Tuesday, February 3, 2026 as the record date for the interim dividend. It will pay the dividend to shareholders on or before February 26, 2026.

Among other key decisions, the Cochin Shipyard board approved the proposal to form a joint venture with HBL Engineering Limited with the aim of developing electric mobility technology and energy storage solutions in the maritime space.It also approved the proposal for the acquisition of 23% shares of Conoship International Holding BV (Conoship), Netherlands, with the aim of establishing a footprint in the European market through access to European ship design capabilities.

However, profit after tax (PAT) rose 35% on a sequential basis from Rs 108 crore in Q2FY26, while revenue rose 21% quarter-on-quarter from Rs 1,119 crore.

The company incurred expenses of Rs 1,225 crore in Q3FY26, up 29% year-on-year compared to Rs 953 crore in the same period a year ago. It rose 12% QoQ from Rs 1,096 crore in Q2FY26. The expenses include the costs of materials used, financing costs and personnel costs.

The company’s debt-to-equity ratio stood at 0.17 in Q3FY26 versus 0.10 in Q2FY26 and 0.01 in Q3FY25. Also read: Larsen & Toubro Q3 results: Cons PAT declines 4% YoY to Rs 3,215 crore on one-off provisions, but revenue grows 10%

Segment revenue

— Shipbuilding: Revenue stood at Rs 1,013 crore in Q3FY26, up from Rs 759 crore in Q2FY26 and Rs 647 crore in Q3FY25.

— Ship Repair: Revenue stood at Rs 337 crore in Q3FY26, up from Rs 360 crore in Q2FY26 and Rs 500 crore in Q3FY25.

— Unallocated: Revenue stood at Rs 711 crore in Q3FY26, compared to Rs 127 crore in Q2FY26 and Rs 468 crore in Q3FY25.

(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)