Mumbai: Shares of Defence PSU Cochin Shipyard Ltd (CSL) rose 1.5% on Friday after the company announced securing a notable order from Polestar Maritime Ltd. The order involves the construction of two Green Tugs of 60 T Bollard Pull Power under the Green Tug Transition Programme (GTTP) of the Ministry of Ports, Shipping and Waterways, Government of India.
The deliveries for the two tugs are scheduled for August 2027 and September 2027, respectively.
Order Details and Stock Performance
According to the exchange filing, Cochin Shipyard classifies orders between ₹100 crore and ₹250 crore as notable. Following the announcement:
- The stock surged 2.28% to ₹1,646.90 per share at around 2:02 PM on NSE.
- The counter touched an intraday high of ₹1,651.40, compared to the previous close of ₹1,610.20.
The order reinforces Cochin Shipyard’s strategic role in supporting green maritime initiatives under government programmes.
Financial Snapshot Q3 FY26
In its quarter ended December 2025, Cochin Shipyard reported:
- Net Profit: ₹144.60 crore, down 18.3% YoY
- Revenue: ₹1,350.40 crore, up 17.7% YoY
- EBITDA: ₹186.60 crore, down 21.5% YoY
- Operating Margin: 13.8%, down from 20.7% in Q3 FY25
Despite a decline in profitability, the topline growth highlights the company’s expanding order book and operational scale.
About Cochin Shipyard Limited
Cochin Shipyard Limited is a Defence Public Sector Undertaking and one of India’s leading shipbuilding and repair companies. The company undertakes construction and maintenance of vessels for both commercial and defence clients and is actively contributing to green maritime initiatives, including eco-friendly and energy-efficient vessels under government programmes.
