Rs 21,500 crore order book and 550 per cent returns: This multibagger ship-building stock bags a new order worth more than Rs 500 crore from a European client!
Shares of the company gained over 140 per cent in the last six months.
Cochin Shipyard Limited secured a significant order for a hybrid service operation vessel (SOV) from a European client. This eco-friendly vessel, designed for the European offshore wind industry, will utilize battery systems to enhance energy efficiency and minimize emissions. The contract includes the option for two additional SOVs. This project strengthens Cochin Shipyard's position in building high-tech vessels for the renewable energy sector. The vessel is expected to be delivered by the end of 2026. The order is expected to be worth Rs 500 to Rs 1,000 crore.
Recently, the company signed a contract with the Indian Navy to perform medium refits on two of their naval vessels. The contract is worth Rs 150 crores and includes dry-docking, refitting, and upgrading equipment on the ships.
Cochin Shipyard Limited (CSL) has a strong order book of Rs 21,500 crore as of December 31, 2023, driven by large-sized orders from the Ministry of Defence and commercial clients in Europe. The company also plans to foray into the small and mid-sized commercial segment vessels through its wholly-owned subsidiaries. The company has delivered multibagger returns of over 550 per cent in last three years.
Cochin Shipyard Limited (CSL) operates a shipyard designed and constructed under technical collaboration with Mitsubishi Heavy Industries, Japan. The yard commenced shipbuilding operations in 1978 and ship repair in 1981. CSL has a shipbuilding dry-dock, which is capable of handling ships up to 110,000 DWT, and a ship repair dry-dock, which can handle ships up to 125,000 DWT.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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