Cochin Shipyard signs agreement for procurement of marine ambulance

Cochin Shipyard today informed the bourses that the Government of Kerala has signed an agreement with the company for the construction of three marine ambulance boats for the fisheries department.

These vessels will have an estimated length of 22.5 metres, with beam size of about 5.99 metres and will have a maximum speed of 14 knots. These vessels will be highly fuel-efficient, with most modern design, designed by CSL's in-house design department.

The company presently has a robust order book in shipbuilding and ship repair. The company is presently constructing four passenger vessels for Andaman and Nicobar Administration.

The company posted a turnover of Rs 2,355 crore for FY18 as compared to Rs 2059 crore for FY17. It posted a profit of Rs 397 crores as compared to Rs 322 crores for the previous year. The shipbuilding turnover for FY18 was Rs 1732 crore, as compared to Rs 1516 crore for the previous year. The ship repair turnover for FY18 was Rs 623 crore as compared to Rs 543 crore for the previous year.

Cochin Shipyard, a government enterprise, is engaged in shipbuilding and ship repair industry in India. It can build ships upto 1,10,000 DWT and repair ships upto 1,25,000 DWT. The yard has delivered two of India’s largest double hull Aframax tankers, each of 95,000 DWT. The company generated around 73.6 per cent of its revenue from shipbuilding and 26.4 per cent from ship repair.

On Thursday, the stock opened at Rs. 506.95 and touched an intra-day high and low of Rs. 514.80 and Rs. 495.50, respectively, and finally closed at Rs. 504.80 on the BSE.