Cochin Shipyard Feb-24
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Questions and Answers

What was the segmental margin level for ship repair mentioned in the discussion?

  • 19%-20%
  • 13%-14%
  • 18%-19% (correct)
  • 16%-17%

    • What improvement in margin percentage was discussed compared to the previous quarter?

  • 300 basis points
  • 200 basis points (correct)
  • 100 basis points
  • 50 basis points

    • What factor was mentioned as contributing to the improved margins this quarter?

  • Aircraft carrier projects (correct)
  • Launch of new vessels
  • Increased labor costs
  • Expansion to international markets

    • What blended margin percentage was indicated before the current discussions?

    <p>16%-17%</p> Signup and view all the answers

    What is the long-term steady-state margin guidance mentioned for shipbuilding?

    <p>13%-14%</p> Signup and view all the answers

    What period did the 19% margin guidance refer to?

    <p>Post aircraft carrier period</p> Signup and view all the answers

    Who posed the question regarding the change in margin guidance?

    <p>Deepak Krishnan</p> Signup and view all the answers

    What was the primary concern discussed regarding the margin levels?

    <p>Factors influencing long-term guidance</p> Signup and view all the answers

    What was the previous rating of Cochin Shipyard Limited before upgrading to GreenCo Gold?

    <p>GreenCo Silver</p> Signup and view all the answers

    What was the turnover for Cochin Shipyard Limited in the third quarter of FY '24?

    <p>INR 1,021.45 crores</p> Signup and view all the answers

    What was the growth rate of profit before tax for the third quarter of FY '24?

    <p>129%</p> Signup and view all the answers

    How much was the profit after tax for Cochin Shipyard Limited in the third quarter of FY '24?

    <p>INR 248 crores</p> Signup and view all the answers

    What was the year-to-date profit before tax for FY '24 as mentioned?

    <p>INR 748 crores</p> Signup and view all the answers

    By how much did the total turnover increase in FY '24 compared to the previous year's turnover?

    <p>38%</p> Signup and view all the answers

    What was the profit after tax in Q3 of FY '23 for comparison?

    <p>INR 118 crores</p> Signup and view all the answers

    In terms of financial performance, what aspect showed marked improvement during FY '24 year-to-date?

    <p>Turnover and profitability</p> Signup and view all the answers

    What primary strength does the organization highlight regarding its position in Europe?

    <p>Depth of engineering expertise</p> Signup and view all the answers

    What is the average age of the European fleet mentioned?

    <p>20 years</p> Signup and view all the answers

    What type of vessels are primarily needed to replace the old European fleet?

    <p>Green or hybrid vessels</p> Signup and view all the answers

    What emerging market is mentioned as a key focus for the organization?

    <p>Wind energy market</p> Signup and view all the answers

    When is the demand for service and support vessels in the wind energy market expected to peak?

    <p>2027</p> Signup and view all the answers

    What is one crucial trend influencing the replacement of vessels in Europe?

    <p>Regulatory requirements for emissions</p> Signup and view all the answers

    Which type of vessels are considered old and in need of replacement?

    <p>Short sea multiplex vessels</p> Signup and view all the answers

    What type of demand is associated with the European short sea vessels?

    <p>Replacement demand for old vessels</p> Signup and view all the answers

    What was the total debt of the company after redeeming its tax-free infrastructure bonds?

    <p>INR23 crores</p> Signup and view all the answers

    What was the EBITDA margin achieved by the company during the 9-month period ended December '24?

    <p>34 percentage</p> Signup and view all the answers

    What was the total payout to shareholders from the two declared interim dividends?

    <p>INR197 crores</p> Signup and view all the answers

    As of January 10, 2024, what was the face value of each equity share after the split?

    <p>INR5 each</p> Signup and view all the answers

    How many vessels are being constructed for the ASW-SWC Corvettes project for the Indian Navy?

    <p>8 vessels</p> Signup and view all the answers

    What is the total cost for the ASW-SWC Corvettes project?

    <p>INR6,300 crores</p> Signup and view all the answers

    How many Hybrid Electric Catamaran Hull vessels have been contracted for Kochi Water Metro?

    <p>23 vessels</p> Signup and view all the answers

    What was the PAT margin achieved by the company during the same 9-month period?

    <p>23 percentage</p> Signup and view all the answers

    What is the total export order mentioned in the context?

    <p>INR2,688 crores</p> Signup and view all the answers

    What is the expected EBITDA margin after IAC?

    <p>19% to 20%</p> Signup and view all the answers

    What is the order book amount for ship repair?

    <p>INR800 plus crores</p> Signup and view all the answers

    Why did Madhu S Nair choose not to discuss project specifics?

    <p>Complexity involved in different businesses</p> Signup and view all the answers

    What is the total order book mentioned for subsidiaries?

    <p>INR700 crores</p> Signup and view all the answers

    What does the acronym RFP stand for in the context of defense projects?

    <p>Request for Proposal</p> Signup and view all the answers

    What is the RFP amount issued for defense projects mentioned in the conversation?

    <p>INR1,600 crores</p> Signup and view all the answers

    For which specific project was no comment made regarding order inflow?

    <p>INS Vishal</p> Signup and view all the answers

    What type of wind energy is anticipated to dominate the energy transition in Europe?

    <p>Offshore wind energy</p> Signup and view all the answers

    How much power does each offshore wind tower typically generate?

    <p>10 megawatts</p> Signup and view all the answers

    What is the projected offshore wind power target for the U.K.?

    <p>25 gigawatts</p> Signup and view all the answers

    What type of contracts are primarily included in ship repair revenue projections?

    <p>Medium refit orders</p> Signup and view all the answers

    What is the anticipated ship repair turnover for the next year or two?

    <p>INR 1,200 crores</p> Signup and view all the answers

    What is the estimated target for ship repair business in approximately three years?

    <p>INR 1,500 crores</p> Signup and view all the answers

    What is needed for the maintenance and support of offshore windmills?

    <p>A variety of specialized ships</p> Signup and view all the answers

    What does Madhu S Nair suggest is necessary for continued business growth?

    <p>Increased ship repair turnover</p> Signup and view all the answers

    Study Notes

    Cochin Shipyard Limited Q3 FY'24 Results Conference Call

    • Date: February 08, 2024
    • Management: Madhu S Nair (Chairman & Managing Director), Jose V J (Director Finance), Rajesh Gopalakrishnan (Chief General Manager, Ship Repair), Harikrishnan S (Chief General Manager, Shipbuilding), Shibu John, Syamkamal N (Company Secretary)
    • Moderator: Ms. Chandni Chande (Kirin Advisors)
    • Key Financial Highlights (Q3 FY'24):
      • Turnover: INR 1,021.45 crore (62% increase YoY)
      • Profit Before Tax: INR 345 crore (129% increase YoY)
      • Profit After Tax: INR 248 crore (109% increase YoY)
      • Year-to-date turnover: INR 2,420 crore (38% increase YoY)
      • Year-to-date profit before tax (PBT): INR 748 crore (92% increase YoY)
      • Year-to-date profit after tax (PAT): INR 548 crore (91% increase YoY)
    • Major Defence Projects:
      • INS Vikrant (Indigenous Aircraft Carrier) commissioned in September 2022.
      • ASW SWC (Anti-Submarine Warfare Corvettes) for the Indian Navy (INR 6,300 crore estimated value)
      • 3 Multi-Purpose Vessels launched (3 consecutive launches in November 2023)
      • 2 additional vessels (4 & 5 in the series) had keel laid (in December 2023)
    • Other Projects:
      • 8 Hybrid Electric Catamarans for Cochin Water Metro (delivered in Jan)
    • Financial Highlights:
      • Management highlighted the achievement of the Gold rating from CII GreenCo.
      • The company had redeemed INR 100 crore tax-free infrastructure bonds in Dec 2023.
    • Order Book: Total order book of INR 21,500 crore (INR 800 plus crore in ship repair).
    • Future Outlook:
      • Targeted ₹1,200 crore to ₹1,500 crore ship repair business in the next few years.
      • Aiming to increase capacity by 15% in the following year and to exceed the ₹ 3,000 crore turnover mark.
      • Additional RFPs (Requests For Proposals) expected in 2024 for defense projects (INR 1,600 crore)

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    Cochin Shipyard Limited Q3 FY'24 Results Conference Call PDF

    Description

    Test your knowledge on the financial performance of Cochin Shipyard Limited for the third quarter of FY '24. This quiz covers key metrics such as margin levels, profit figures, and growth rates discussed in recent financial analyses. Understand the factors contributing to the shipyard's performance and its rating upgrades.

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