Cochin Shipyard introduced on Monday, 17 February, that it has signed a Memorandum of Understanding (MoU) with AP Moller-Maersk to discover collaboration in ship restore, upkeep, and shipbuilding in India.
The settlement outlines key areas of cooperation, together with sharing technical experience to fulfill world ship upkeep requirements, exploring alternatives in ship restore, dry docking, and new builds, in addition to conducting joint coaching packages to advertise accountable practices and talent growth for each Cochin Shipyard and Maersk seafarers, in response to the corporate’s alternate submitting.
For the third quarter, Cochin Shipyard reported a 27.6% drop in web revenue to Rs 177 crore from Rs 244.4 crore in the identical interval final yr. Income from operations rose 8.6% to Rs 1,147.6 crore in comparison with Rs 1,056.4 crore a yr in the past. Nevertheless, EBITDA declined 23.4% to Rs 237.4 crore from Rs 310.1 crore, with EBITDA margins contracting to twenty.7% from 29.4% YoY.
Moreover, the board of administrators declared a second interim dividend of Rs 3.5 per fairness share (face worth of Rs 5) for the monetary yr ending 31 March 2025. This follows the sooner interim dividend of Rs 4 declared on 7 November final yr.
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