Cochin Shipyard Q2: Shares dropped 5% to hit the lower circuit
The revenue from operation, soared 13% annually to Rs 1,143.2 crore in the September quarter of FY25, from Rs 1,011.7 crore in the September quarter of FY24.
Cochin Shipyard Q2: Shares dropped 5% to hit the lower circuit
Shipbuilder PSU Cochin Shipyard shares dropped 5% to hit the lower circuit at Rs 1,449.40 per share on Friday, November 08, 2024. The Share drop came after the company’s earnings before interest, tax, depreciation, and amortization (Ebitda) margin contracted by 160 basis points (bps) to 17.3% in the September quarter of the financial year 2025 (Q2FY25), from 18.9% in the same quarter a year ago (Q2FY24).
The company's EBITDA, also known as operating profit, soared a little over 3% annually to Rs 197.3 crore in Q2FY25, from 191.2 crore in Q2FY24. Overall, Cochin Shipyard’s profit climbed 4% year-on-year to Rs 189 crore in Q2FY25, from Rs 182 crore in Q2FY24.
The revenue from operation, soared 13% annually to Rs 1,143.2 crore in the September quarter of FY25, from Rs 1,011.7 crore in the September quarter of FY24.
Read Also : PFC Registered highest ever quarterly Profit in Q2 FY25, declared dividendAdditionally, the company has declared an interim dividend of Rs 4 per equity share of Rs 5 each fully paid up (80 percent) for the financial year 2024-25. It has fixed Wednesday, November 20, 2024, as the ‘Record Date’ for the interim dividend. The aforesaid interim dividend shall be paid to the eligible shareholders on or before December 06, 2024.
The company has also approved a plan to raise funds through the issuance of US dollar-denominated non-convertible senior unsecured fixed-rate notes. The company aims to raise $50 million, which may be issued in one or multiple tranches to eligible investors as permitted by applicable laws.
Read Also : Oil India Ltd, Vedanta, Hindustan Zinc among top bidders in mineral auctionsThe Notes could be listed on one or more overseas exchanges or Indian platforms such as the India International Exchange (IFSC) Limited or NSE IFSC Limited. The primary purpose of this fundraising is to finance Cochin Shipyard’s eligible sustainable projects or other permissible uses under applicable regulations.
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