Cochin Shipyard Share Price news: Today, Cochin Shipyard is set to assess shareholders’ eligibility for the subdivision or split of existing shares. Over the past six months, the stock has surged by an impressive 129%, and within the last year, it has seen a remarkable growth of 175%.
Cochin Shipyard Ltd’s shares will go ex-date for a stock split today, transforming from a face value of Rs 10 to two shares with a face value of Rs 5 each. The company previously announced a record date for the stock split on January 10, 2024. The eligibility criteria for shareholders to participate in the subdivision or split will be determined by Cochin Shipyard.
Cochin Shipyard Share Price news: In a filing to BSE on December 14, the company revealed its shipbuilding order book stood at Rs 22,000 crore as of September 30. Recently, it secured a contract worth Rs 488.25 crore with the Ministry of Defence for the repair and maintenance of equipment and systems on a naval vessel. The work, initiated during Q2 of FY24, is expected to be completed by Q1 of FY25 following the Approval of Necessity (AoN) from MoD.
Cochin Shipyard Limited, a prominent shipyard in India, caters to both commercial and defence shipbuilding and repairs. With a nationwide presence, the company is keen on expanding its footprint and establishing a broader ecosystem for shipbuilding and repairs across the nation.
In conjunction with its September quarter results, Cochin Shipyard declared a stock split and an interim dividend of Rs 8 per share. The ex-date for the dividend was November 20. For the September quarter, the company reported a consolidated net profit of Rs 181.52 crore, a significant increase from Rs 112.79 crore in the corresponding quarter last year. Consolidated revenue surged to Rs 1,011.71 crore compared to Rs 683.18 crore in the same quarter the previous year. Other income also witnessed an increase to Rs 87.56 crore, while finance costs decreased, and depreciation costs rose on a year-on-year basis.
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