Mumbai: State-owned Cochin Shipyard Limited (CSL) on Wednesday reported a consolidated net profit of ₹144.67 crore for the third quarter ended December 31, 2025, while announcing a 70% interim dividend for shareholders.
Financial Performance
The shipbuilding major's profit for Q3 FY26 showed a decline from ₹176.99 crore recorded in the same quarter previous fiscal year. Revenue from operations stood at ₹1,350.41 crore for the quarter.
For the nine-month period (April-December 2025), the company posted a consolidated net profit of ₹440.03 crore.
Dividend Declaration
In a move that will benefit investors, the company's board declared a second interim dividend of ₹3.50 per equity share (70% on face value of ₹5 each) for financial year 2025-26.
Key Dividend Dates:
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Record Date: February 3, 2026
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Payment: On or before February 26, 2026
Also Read: GRSE Q3 FY26 Results: Net Profit Soars 74% YoY; Declares ₹81.9 Crore Dividend
Strategic Expansion Plans
The board approved two significant strategic initiatives:
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Green Technology Joint Venture: CSL will form a joint venture with HBL Engineering Limited to develop electric mobility technology and energy storage solutions for the marine sector. The JV will have 60:40 shareholding between HBL and CSL respectively.
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European Market Entry: The company approved acquisition of 23% equity stake in Netherlands-based Conoship International Holding B.V., a leading ship design and engineering firm. This move aims to establish CSL's footprint in the European market through access to advanced ship design capabilities.
Funding Plan Revised
In a significant decision, the board decided not to proceed with its earlier plan to raise $50 million through US dollar-denominated bonds. The company cited "significant changes in economic conditions" making domestic borrowing more cost-effective, along with changes in implementation methodology of sustainability projects.
Project Update
Auditors highlighted ongoing issues with two passenger vessels whose construction has been suspended since 2020 and 2022 respectively. The vessels, 65% complete, are awaiting transfer to a central government organization pending Cabinet Committee of Security approvals. The company maintains that eventual sale to a new customer is expected to cover all costs incurred.
Market Position
Cochin Shipyard, under the Ministry of Ports, Shipping and Waterways, continues as India's largest shipbuilding and maintenance facility. The latest strategic moves position the company for future growth in green shipping technologies and international market expansion.