Cochin Shipyard Ltd Q1 FY25 Financial Results & Highlights PDF

SEC/48/2017-63 September 02, 2024 The Manager The Manager Compliance Department Compliance Department BSE Limited The National Stock Exchange of India...

SEC/48/2017-63 September 02, 2024 The Manager The Manager Compliance Department Compliance Department BSE Limited The National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Tower Exchange Plaza Dalal Street Bandra – Kurla Complex, Bandra (East) Mumbai – 400 001 Mumbai – 400 051 Scrip Code/Symbol: 540678/COCHINSHIP Dear Sir/Madam, Subject: Investor Presentation – Q1 FY25 Financial Results and Highlights 1. Please find attached herewith the presentation on the Q1 FY25 Financial results and highlights for the purpose of dissemination of information widely to the members. 2. The above is for your information and record please. For Cochin Shipyard Limited Digitally signed by Syamkamal N Date: 2024.09.02 10:31:17 +05'30' Cochin Shipyard Limited आत्मनिर्भर र्ारत अभर्याि Investor Presentation Contents ▪ Important Operational Events – Q1 FY25 Till Date ▪ Financial Overview ▪ Status of Vessels Under Construction ▪ Infrastructure Augmentation ▪ Novel & Green Initiatives ▪ Order Book Position IMPORTANT OPERATIONAL EVENTS – Q1 FY25 TILL DATE Highlights – Orders received ▪ April 2024: CSL signed Master Ship Repair Agreement with US Navy for repair of vessels; ▪ April 2024: UCSL secured order for 70T Bollard Pull Tug for Polestar Maritime Limited; ▪ May 2024: CSL secured order for Hybrid SOV from European client; ▪ May 2024: UCSL secured order for 3 nos. of 70T Tugs for Ocean Sparkle, an Adani Adani Harbor Services Limited company ▪ June 2024: UCSL secured order for 4 nos. of 6300 TDW Dry Cargo Vessels for Wilson ASA, Norway ▪ July 2024: HCSL secured order for 2 nos. of ASD Bollard Pull Tugs for Industrial Handling Pvt Ltd. Highlights – Vessels Delivered - April/ July/ August 2024 – Delivered three nos. of Electric Hybrid 100 Pax Water Metro boats to Kochi Metro. - May 2024 – UCSL delivered 70T Bollard Pull Tug – ‘Konna Star’ built for Polestar Maritime Limited. Highlights – Major Events - April 2024: Keel laying of 1 new 3800 DWT Cargo vessel for Wilson Shipowning at UCSL - May/July 2024: Keel laying of 3 Hybrid Electric Catamaran Passenger vessels for IWAI at HCSL - July 2024: UCSL launched the 70T Bollard Pull Tug 'MOGRA STAR' for Polestar Maritime - August 2024: Commenced commercial operations at International Ship Repair Facility (ISRF), docked 'IHS Parali‘ of Lakshadweep Administration FINANCIAL OVERVIEW  FINANCIAL HIGHLIGHTS Rs Crs Standalone Consolidated Particulars FY 25 Q1 FY 24 Q1 QoQ % FY 24 Q4 FY 24 FY 25 Q1 FY 24 Turnover (Rs Crs) 709.84 444.14 60% 1,225.49 3,645.28 771.47 3,830.45 Profit Before Tax (Rs Crs) 242.15 145.12 67% 345.48 1,093.62 235.82 1,070.94 Profit After Tax (Rs Crs) 180.85 109.41 65% 264.67 813.10 174.24 783.28 EPS (Rs) 6.87 4.16 65% 10.06 30.91 6.62 29.77 PAT Margins (%) 25% 25% 0% 22% 22% 23% 20% EBIDTA 262.51 166.30 58% 365.57 1,182.10 261.37 1,178.76 *EBITDA (%) 37% 37% 0% 30% 32% 34% 31% *Including other income  REVENUE MIX Rs Crs Standalone Consolidated Particulars FY 25 Q1 FY 24 Q1 QoQ % FY 24 Q4 FY 24 FY 25 Q1 FY 24 Shipbuilding 465.07 293.87 58% 924.60 2,638.91 526.70 2,824.09 Ship Repair 244.78 150.28 63% 300.89 1,006.37 244.78 1,006.37 Turnover 709.84 444.14 60% 1,225.49 3,645.28 771.47 3,830.45 Other Income 80.14 84.19 -5% 307.38 84.01 310.18 79.38 Total Income 789.99 528.34 50% 1,304.87 3,952.66 855.48 4,140.64  KEY FINANCIAL PARAMETERS Standalone Consolidated Particulars FY 25 Q1 FY 24 FY 25 Q1 FY 24 Net worth (Rs Crs) 5210.97 5025.87 5185.38 5003.34 Book value / share (Rs) 198.07 191.04 197.10 190.18 Net Debt (Rs Crs) 23.52 23.02 23.52 23.02  Turnover (Rs Crs) & EBITDA Margins(%) 4000 32% 3645 40% 3422 3500 35% 2819 3190 37% 27% 2962 28% 3000 26% 28% 32% 30% 23% 24% 2355 28% 2330 2500 23% 25% 21% 1996 2059 2000 1860 20% 1637 1500 15% 1000 10% 710 500 5% 0 0% FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q1 Turnover EBITDA Margins %  Profit After Tax (Rs Cr.) & PAT Margins (%) 900 30% 813 800 25% 25% 700 22% 18% 638 22% 610 19% 587 600 20% 17% 16% 14% 500 16% 481 14% 397 15% 400 13% 12% 322 334 300 275 10% 235 194 181 200 5% 100 0 0% FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q1 PAT PAT Margins %  Return efficiencies - Net worth (Rs. Crs), RoE (%) 17% 16% 5211 16% 16% 15% 5026 13% 14% 15% 14% 4423 4359 3978 12% 3732 3256 3332 8% 2029 1732 1561 1353 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q1 Networth Return on Networth STATUS OF VESSELS UNDER CONSTRUCTION Status of vessels under construction ASW SWC BY 523-530: 8 vessels Corvette for Indian BY 523-525: Vessel No.1,2 & 3 :- Launched on 30 Nov’23, Machinery outfitting under progress Navy BY 526-527: Vessel No.4 & 5 :- Keel laid on 08 Dec’23, Launching planned in Sep 24 BY 528-530: Vessel No.6,7 & 8 :- Advanced stage of block fabrication Hybrid Electric BY 123-145: 23 vessels Catamaran Hull Vessels for KMRL 15 vessels delivered, 8 vessels under various stages of construction Planned to complete by Oct’24  Status of vessels under construction 7K Multipurpose SH 29-36: 8 vessels Vessel for SH 29 & 30 : Vessel 1& 2 :- Hull block erection and outfitting under progress, Launching Planned in Sep 24 European Clients Keel laid for all vessels SH 31-36 : Vessel 3 to 8 :- Under various stages of construction Commissioning BY 151-152: 2 vessels Service Operation Vessels Plate cutting done on 01 Sep’23 - Block Fabrication in progress Status of vessels under construction 12000 Cu. M. SH 37: 1 vessel Trailer Suction Hopper Dredger Plate cutting done on 11 Dec’23 – Block Fabrication in progress, Keel lay planned in Sep 24 Hydrogen Fuel Pilot Project. BY150: 1 vessel Cell Vessel Trials Completed, Vessel currently in Varanasi INFRASTRUCTURE AUGMENTATION New Dry Dock Project ▪ Dock Size: 310m x 75/60m x 13m (Stepped Dry Dock) ▪ Design Life: 100 Years ▪ Draught of vessel – upto 9.5 m ▪ 600 T , 75 T and 40T Cranes ▪ Largest dry dock in India ▪ Suitable for LNG vessels, Aircraft Carriers, Jack-up Rigs, Drill ships, Large Tankers & Merchant vessels. Total Project Cost Rs. 1,799.00 Cr. Expenditure incurred till date Rs. 1,344.59 Cr. Civil works such as dock floor, dock wall, caisson gate, pump Installation & commissioning of 600T Gantry Crane is house, sub-stations etc. are fully completed and the New progressing. The New Dry Dock is expected to be fully Dry Dock was inaugurated by the Hon’ble Prime Minister on operational after completion of above work by 31 Oct 2024. January 17, 2024. New Dry Dock Project Recent Snapshots of New Dry Dock International Ship Repair Facility (ISRF) Project Land Area Marine area 16.254 ha 16.15 ha. Shiplift - 130 m LOA x 25 m Beam, Capacity:- 6000 T Transfer System 06 Work stations 1.25 Km Berth Floating gate 4 nos. Cranes Project Cost: Rs. 970 Crs. Expenditure incurred till date Rs. 797.45 Cr. Shiplift system, 2 workstations & afloat repair berths etc. is fully completed and the project was inaugurated by the Hon’ble Prime Minister on January 17, 2024. ISRF was operationalized on 12 Aug 2024 by docking HSC PARALI. International Ship Repair Facility (ISRF) Project NOVEL & GREEN INITIATIVES Zero emission Green Vessels H2 Fuel Cell Vessel Electric Catamaran Ferry Pilot Project by CSL 8 Nos contracted by IWAI 100 Passenger Ferry Boat Fully Indigenised ‘Home Grown Technology’ 2 No. of vessels delivered to IWAI 2 x 25 kWh H2 Fuel Cell, 6 kWh Solar Plant Air conditioned passenger area for 50 pax Trials completed and sailed off from CSL to Design Speed – 9 Knots Varanasi on May 18, 2024. Fast Charging LTO Battery of ~ 120 kWh Target Completion : Dec 2023 – Nov 2024 CSL’s Maritime Start Up Engagement Programme Autonomous Surface Vessel “USHUS” – Nurturing Aspirations Pilot Project SWAYAT Review and Recommending Agencies Rs 50 Crores initial corpus Fully indigenous, IRS class approved scalable Three types of funding solution catering commercial and defence use ❑ Seed Fund Scheme - Upto 50 L per start-up cases ‘Made in India & Made for the World’ ❑ Pilot Grant Scheme - Upto 100 L per start-up ❑ Equity Investment ORDER BOOK POSITION Order Book Position – Rs. 22,500 Crs. (Approx.) { Healthy – Clear Visibility on Revenue } (Rs. Crore) Sl. Order Project Category No. of Vessels No. Value* Total Order Book Position Green compliment 1. Defence 15 15,028 Commercial Segment 2057; 9% 1842; 41% 2. Commercial - Domestic 18 1,225 3. Commercial - Export 14 3,277 3227; 15% TOTAL 47 19,530 1225; 6% 15028; 70% Sl. Order Name of the Subsidiary No. Value* 1. Hooghly Cochin Shipyard Limited (HCSL) 157 2. Udupi Cochin Shipyard Limited (UCSL) 1,900 Defence Commercial - Domestic 2660; 59% Commercial - Export Susbidiaries Green Vessels Conventional Vessels Total 2,057 Ship Repair Orders – Rs. 1,000 Crs. (Approx) *The order value given in the above tables is the balance amount of orders to be recognised. Shipbuilding Order Pipeline/Possibilities – Rs. 7,820 Crs. (Approx.) Commercial – Export Sl. Approx. Order Value Rs. Project Rs. 6,500 No. (Rs. Crs.) 1,100Crs. Crs. (Com. (Com. 1. Vessels to foreign clients 6,500 Exp.) Dom.) Commercial – Domestic Rs. 220 Crs. (Govt.) Approx. Order Value Sl. No. Project (Rs. Crs.) 1. Vessels for Domestic clients 1,100 Govt. / RFP Stage Sl. Approx. Order Value No. Project (Rs. Crs.) Other project proposals - RFI/Mid Stage 1. Govt Projects 220 Rs. 30,000 Crs.