Cochin Shipyard Limited (CSL): History, Latest Updates, Milestones, Subsidiaries & Share Price
Introduction
Cochin Shipyard Ltd(CSL), incorporated in 1972, is a leading Indian shipbuilding and ship repair company. During the past half-century, CSL has diversified its capabilities, building ships up to 110,000 DWT and repairing them up to 125,000 DWT. CSL has been at the center of India's maritime industry, most notably having constructed the Indigenous Aircraft Carrier, INS Vikrant. The company has also supplied 47 ships to overseas customers and partners with world technology leaders. It was designated as a Category I Miniratna in 2008 and was listed on the stock exchange in 2017, with the Government of India now owning 72.86% of its shares. Focused on innovation, CSL keeps upgrading its technology and increasing its operational capacity.
Cochin Shipyard Ltd Moves In 2024 & 2025
January 2024
Won a global contract to build hybrid Service Operation Vessels (SOVs) for the offshore wind energy industry.
May 2024
Awarded an order by a British company to design hybrid SOVs to assist the operations of offshore wind farms.
June 2024
The subsidiary of CSL, Udupi Cochin Shipyard Ltd(UCSL), won a repeat order by a Norwegian company to design and construct dry cargo ships.
Further orders were received for the building of three high-powered ASD tugs.
September 2024
Conducted a keel-laying ceremony for a large dredger being built for the Dredging Corporation of India.
October 2024
Government announced sale of government stake up to 5% in CSL at discounted floor price.
December 2024
Commissioned the development of state-of-the-art Next Generation Missile Vessels (NGMVs) for the Indian Navy.
January 2025
Carried out the keel-laying ceremony of the seventh ASW SWC, a next-generation anti-submarine warfare ship.
February 2025
Signed a Memorandum of Understanding (MoU) with a foreign shipping organization ‘A.P. Moller – Maersk’ to partner for ship repair, maintenance, and construction activities in India.
March 2025
Commissioned five ships together while laying down the keel for two more ships, evidencing a production capacity boost.
A few regulatory changes were made in March:
There was a penalty for the delay in the appointment of independent directors.
The window for trading was formally closed on March 21st.
CSL was penalized for non-compliance with SEBI's Listing Obligations and Disclosure Requirements (LODR).
Cochin Shipyard Share Price Performance
April 2024
The cochin shipyard share price experienced a robust upward movement, increasing by 34.66% from Rs.968.30 to Rs.1,303.90.
May 2024
May posted an even greater gain of 46.92%, with the cochin shipyard share price opening at Rs.1,325.65 and closing at Rs.1,947.65.
June 2024
The upward trend continued, with a 10.04% rise as the cochin shipyard share price went from Rs.2,013.00 to Rs.2,215.15.
July 2024
Another robust month saw the cochin shipyard share price increase by 15.63%, opening at Rs.2,266.05 and closing at Rs.2,620.15.
August 2024
The cochin shipyard share price received a significant correction, falling 26.88% from Rs.2,580.30 to Rs.1,886.65.
September 2024
The downtrend persisted, down 6% as the cochin shipyard share price fell from Rs.1,851.35 to Rs.1,740.35.
October 2024
The cochin shipyard share price hit another fall of 12.21%, trading at Rs.1,705.50 and settling at Rs.1,497.20.
November 2024
There was a minor relief, with the cochin shipyard share price rising by 4.91% from Rs.1,503.45 to Rs.1,577.30.
December 2024
The year closed with a fall of 7.09%, as the cochin shipyard share price shifted from Rs.1,656.15 to Rs.1,538.75.
January 2025
The cochin shipyard share price started the year at Rs.1,518.70.
Evolution Of Cochin Shipyard Limited: From Past to Present
1969
Cochin was chosen as the location for India's first Greenfield Shipbuilding Yard.
1972
Cochin Shipyard Ltd(CSL) was incorporated as a wholly government-owned entity on March 29.
1975
By year-end, CSL was poised to start operations.
1978
The ship repair division of the company was initiated.
CSL won its first contract to construct a bulk carrier.
1981
The first ship constructed by CSL, titled 'Rani Padmini,' was handed over to the Shipping Corporation of India (SCI).
1982
The infrastructure of the first phase of the shipyard was completed, which was designed in association with Mitsubishi Heavy Industries, Japan.
1980s – 1990
CSL successfully handed over eight big ships, such as Panamax bulk carriers and double-hull crude oil tankers, to different Indian customers.
1993
CSL started its Marine Engineering Training programme.
1994
A grand financial restructuring plan was adopted.
1994-95
For the very first time, CSL achieved a net profit of Rs.11.16 crores, ushering in a long-term era of profitability.
2000-2009
The initial export order was completed for the National Petroleum Construction Company, Abu Dhabi.
CSL delivered six bulk carriers to the Clipper Group, Bahamas.
Expansion in Europe resulted in delivering nine firefighting tugs to ATCO, Saudi Arabia.
The keel-laying of India's first Indigenous Aircraft Carrier was done.
The business obtained Category I Miniratna status in July 2008.
2010-2015
Signed to construct 20 Fast Patrol Vessels for the Indian Coast Guard.
Supplied 20 ships to European customers in Germany, Norway, the Netherlands, and Cyprus.
Inked a memorandum to set up an International Ship Repair Facility at Cochin Port.
Reached the milestone of delivering 100 ships.
Gained the distinction of being the first Indian shipyard authorized to design and build LNG Cargo Containment Systems with Mark-III technology from GTT, France.
2016-2022
Delivered all 20 Fast Patrol Vessels for the Indian Coast Guard prior to the scheduled time.
Delivered 16 Tuna Long Lining & Gillnetting Fishing Vessels to Tamil Nadu fishermen under Blue Revolution Scheme.
Shipped the world's second-largest Jacket Launch Barge to Abu Dhabi and completed a total of 47 vessels delivered overseas.
Constructed four 8,000-ton Mini Bulk Carriers for JSW Group, augmenting coastal shipping.
Delivered 10 Ro-Ro/RoPax vessels for India's National Waterways, facilitating inland transportation.
Handed over two completely autonomous electric ferries to ASKO Maritime AS, Norway.
Handed over two 500-passenger-cum-150MT cargo ships to the Andaman and Nicobar Islands.
Handed over nine Floating Border Outpost (FBOP) ships to the Ministry of Home Affairs.
Handed over the Indigenous Aircraft Carrier 'INS Vikrant' to the Indian Navy, placing India amongst the select group of countries having the capability of designing and building its own aircraft carrier. The ship was commissioned on September 2, 2022.
Completed a successful Initial Public Offering (IPO) in the year 2017, after which there was a buyback in the year 2018, with shares being listed on the NSE and BSE.
Hit record revenue of Rs.832 crores for ship repair in FY19.
Record turnaround with a record turnover of Rs.3,422 crores and net profit of Rs.638 crores in FY 2019-20.
2024
On April 5, CSL inked a Master Ship Repair Agreement (MSRA) with the United States Navy.
The Government of India's holding in the company fell to 67.91% as of December 2024.
On December 27, CSL received an order worth Rs.450 crores from Adani Ports and SEZ for eight tugboats.
2025 (Up to April)
The order book of the company as of now comprises projects including:
Eight Anti-Submarine Warfare Corvettes.
Six Next-Generation Missile Vessels (L1 position).
23 Hybrid Electric Aluminium Catamaran Hull Vessels.
India's biggest dredger.
Eight Eco Freighter 7000 DWT Vessels.
Two CSOVs, with an option to take up four more.
CSL is underway with key expansion works, such as the International Ship Repair Facility (ISRF) and a new big 310m drydock.
The CSL Strategic & Advanced Solutions (C-SAS) division is heavily involved in research of next-generation technologies, such as hydrogen fuel cell-driven ships.
It aims to achieve this long-term aspiration of being the world's pre-eminent global shipyard in 2030.
Cochin Shipyard Ltd Company Information
|
Company Information |
|
|
Trade Name |
Cochin Shipyard Ltd (CSL) |
|
Founded year |
March 29, 1972 |
|
Headquarters |
Kochi, Kerala, India |
|
Industry |
Ship Building |
|
Chairman |
Madhu Sankunny Nair |
|
Revenue |
Rs. 4,102 Crores |
|
Net Income |
Rs. 823 Crores |
|
NSE code |
COCHINSHIP |
|
BSE code |
540678 |
Inside Cochin Shipyard Limited
International Ship Repair Facility (ISRF): The ISRF at Willingdon Island, Kochi, commissioned in January 2024, will turn the region into Asia's largest ship-repair center.
New 310-Meter Dry Dock: CSL is building a new dry dock in Kochi, with a length of 310 meters, a width of 75 meters at the widest point, and 60 meters at its narrower end. This will enable larger ships, boosting CSL's shipbuilding and repair capacity.
Anti-Submarine Warfare Shallow Water Crafts (ASW SWCs): Under an April 2019 contract, CSL is constructing eight Mahe-class ASW SWCs for the Indian Navy. The initial vessel will be delivered in early 2025.
Next Generation Missile Vessels (NGMVs): In March 2024, CSL signed a Rs.9,805 crore deal with the Indian Navy to design and build six NGMVs, with deliveries to start from March 2027.
Kochi Water Metro Project: CSL has been supplying hybrid electric aluminium catamaran ferries for the Kochi Water Metro. Through February 2024, the 13th of such a vessel was supplied, adding to sustainable urban transport in Kochi.
Hydrogen Fuel Cell Vessel: In line with India's green hydrogen mission, CSL developed the country's first fully indigenous hydrogen fuel cell catamaran ferry as a pilot project, flagged off by the Prime Minister in February 2024.
Commissioning Service Operation Vessels (CSOVs): In November 2022, CSL secured a contract valued at approximately Rs.1,000 crore to construct CSOVs for a European client, supporting offshore wind farm operations.
Adani Ports Tug Boats: On December 27, 2024, Adani Ports and Special Economic Zone Ltd placed an order for eight 70-tonne bollards pull harbour tugs from CSL, in alignment with the Make in India mission.
Cochin Shipyard share price NSE
|
Company Name |
Sector |
Share Price Link |
|
Cochin Shipyard Ltd |
Ship Building |
Conclusion
Cochin Shipyard Limited is still a dominant force in India's shipbuilding sector, with ongoing major projects and expansion in the pipeline. The company recently received a fine for regulatory breaches. Its subsidiaries, Hooghly Cochin Shipyard Limited, operate in inland waterway ships, and Udupi Cochin Shipyard Limited operates in fishing ships. CSL continues towards its mission to become a global powerhouse by 2030.
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