Cochin Shipyard joins hand with DCI & IHC Holland BV for construction of dredgers

Cochin Shipyard Limited announced on Wednesday after the market hours that it has joined hands with Dredging Corporation of India (DCI) and IHC Holland BV to make world-class dredgers. 

Reacting to this, the company’s stock today increased by 2.77 per cent and made an intraday high of Rs 388.95 per share. 

Besides, the company reported a net profit of Rs 223.73 crore in Q3FY21, an increase of 31.75 per cent. It had reported a profit of Rs 169.82 crore in Q3FY20. The company reported net sales of Rs 748.70 crore for Q3FY21, a decrease of 16.45 per cent as against the net sales of Rs 886.09 crore for Q3FY20. 

Cochin Shipyard is engaged in the construction of vessels and also, repairs & refits of all types of vessels, including upgradation of ships, periodical lay-up repairs, and life extension of ships. Cochin Shipyard has built and repaired some of the largest ships in India. 

According to BSE data, the stock traded at a P/E multiple of 9.59 and a price-to-book ratio of 1.35. The stock has a 52-week high and a 52-week low of Rs 396.30 and Rs 209, respectively. 

At the time of market closing, the stock of Cochin Shipyard Ltd was trading at Rs 382.85, up by 1.16 per cent on BSE.