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Cochin Shipyard (CSL), the management is targeting 12-15% YoY growth in FY27E

ICICIdirect Research 14 Jul 2026 DISCLAIMER

News: According to one media interaction with Cochin Shipyard (CSL), the management is targeting 12-15% YoY growth in FY27E revenue (as compared to muted ~4% YoY in FY26). Management has stated that the company is actively looking for winning commercial ship-building contracts in domestic market. The company has submitted bids under the newly floated Bharat Container Shipping Line (BCSL) consortium to build various types of vessels, including tankers. As per the industry estimates, India would require around 430 ships over the next 10 years

View: Considering the CSL's significant presence in commercial ship-building segment (including domestic & exports markets), the company is well positioned to capitalise on the sizable opportunity in domestic commercial ship-building segment. Company has also collaborated with HD Hyundai for a major ship fabrication facility in Kochi. With an order book of Rs 22,300 crore (4.4x FY26 revenue) and strong orders pipeline across ship-building (including defence & commercial) and ship-repair, revenue visibility remains strong. Going forward, steady execution across segments would be the key monitorable in the coming period

Impact: Neutral

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