Cochin Shipyard jumps on strong Q4 results

Cochin Shipyard reported robust results for Q4FY18 with strong margin expansion.

The total revenue for the quarter rose by 15 per cent yoy to Rs. 601 crore in Q4FY18 vs Rs. 522 crore in Q4FY17. the revenue declined by 2 per cent qoq from Rs. 615 crore due to lower revenue from ship repair segment.

The EBITDA for the quarter rose by 3 times to 115 crore in Q4FY18 vs Rs. 31 crore in Q4FY17. This was largely due to lower raw material costs by 28 per cent yoy to Rs. 273 crore in Q4FY18 vs Rs. 383 crore in Q4FY17. The resultant margins also expanded by 1320 bps to 19.2 per cent in Q4FY18 vs 6 per cent in Q4FY17.

The bottom-line also more than doubled to Rs. 92 crore in Q4FY18 vs Rs. 41 crore in Q4FY17. For the full year, revenue grew by 14.4 per cent yoy to Rs. 2,355 crore in FY18 vs Rs. 2,059 crore in FY17. The EBITDA grew by 302 per cent to Rs. 679 crore vs Rs. 169 crore. The net profit rose by 23.4 per cent yoy to Rs. 397 crore.

On Friday's morning session, the stock of Cochin Shipyard was trading at Rs.4.12 per cent up at Rs. 504 per share