Cochin Shipyard shares in focus after subsidiary wins order for luxury river cruise vessels

Time of India

24-06-2025

Live Events
Cochin Shipyard Q4 earnings
Cochin Shipyard shares price target
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Shares of Cochin Shipyard will be in focus on Tuesday after the company announced that its wholly owned subsidiary, Hooghly Cochin Shipyard Limited (Hooghly CSL), has secured a significant order valued between Rs 100 crore and Rs 250 crore.The order, awarded by Heritage River Journeys Private Limited—operator of the Antara River Cruises brand—entails the construction of two luxury river cruise vessels for deployment on the Brahmaputra River . While the contract for the first vessel has been signed, a Letter of Intent (LOI) has been issued for the second.The vessels are part of a broader initiative to boost premium inland waterway tourism in India.Antara River Cruises is known for its curated voyages across the Ganga, Padma, and Brahmaputra rivers. Its flagship journey, Ganga Vilas, holds the distinction of being the world's longest river cruise, spanning over 3,200 kilometres across 27 rivers and multiple regions—including the Gangetic plains, the Sundarbans, and the Brahmaputra Valley—a feat recognised by the Limca Book of Records.Cochin Shipyard clarified that the order does not qualify as a related party transaction, and neither its promoters nor group companies have any interest in the awarding entity.For the March quarter, Cochin Shipyard reported a 10.8% year-on-year rise in net profit to Rs 287 crore, while revenue surged 37% to Rs 1,758 crore.However, EBITDA declined 7.6% to Rs 266 crore, and the EBITDA margin contracted sharply by 730 basis points to 15.10%, down from 22.40% in the same quarter last year.According to Trendlyne, the average analyst target price for Cochin Shipyard is Rs 1,349, implying a potential downside of nearly 40% from current levels. Of the three analysts tracking the stock, the consensus recommendation is 'Hold'.On the technical front, the stock's Relative Strength Index (RSI) stands at 61.9, nearing overbought territory. The MACD is at 124.8—above the center line but currently trading below the signal line. Cochin Shipyard shares are trading above all key simple moving averages (SMAs), including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day, signalling continued bullish momentum.