Cochin Shipyard Limited · NSE:COCHINSHIP
Cochin Shipyard — Investor Presentation (May 2018)
23 slides from Cochin Shipyard's investor presentation, May 2018
Slide 1: Cochin Shipyard Limited Investor Presentation – May 2018
Cochin Shipyard Limited Investor Presentation – May 2018
Slide 2: Company Overview
Company Overview
Slide 3: Ship Building
SHIP BUILDING Largest Premier Public Sector Shipyard in India Expertise in Tankers, Bulk Carriers, Platform supply vessels, Passenger Vessels, Buoy Tender vessels, etc. for Indian and International clients Diverse Range - Defense, Offshore & Commercial Segments Largest ship ever built in Ind
Slide 4: Ship Repair
SHIP REPAIR Undertaken more than 2000 Ship Repair projects. Only yard in India to have dry-docked & repaired Indian Aircraft Carriers - INS Viraat & INS Vikramaditya Complex and sophisticated repairs of Offshore vessels, Defence vessels, and all kinds of Commercial & Specialised vessels. Lon
Slide 5: Yard Infrastructure
YARD INFRASTRUCTURE Land : 170 Acres Quays Docks : - Quay1 for repair : 290M - Repair Dock : 270 x 45 x 12M - Quay2 for repair : 208 M - Building Dock : 255 x 43 x 9M - Quay 3 for fitting out : 630 M Total : 1128 M
Slide 6: Best in Class
BEST IN CLASS Integrated Management System (IMS) : ISO 9001:2008 - Quality Management System OHSAS 18001:2007- Occupational Health & Safety Management System ISO 14001:2004 - Environmental Management Systems 6
Slide 7: Major Expansion – (1) New Large Drydock
MAJOR EXPANSION – (1) NEW LARGE DRYDOCK Capacity Enhancement : For construction of Complex, Technology intensive large vessels such as LNG Carriers, Offshore Drillships etc. Construction of Larger Aircraft Carriers Repairs of Offshore Rigs & Semi- submersibles Present Status: All Statutory c
Slide 8: Major Expansion (2) International Ship Repair Facility (ISRF)
MAJOR EXPANSION (2) INTERNATIONAL SHIP REPAIR FACILITY (ISRF) Capacity Enhancement: Repairs of 80 additional vessels a year Increase in Repair throughput by around 70% Present Status: All Statutory clearances received. Major equipment – Shiplift & transfer system ordered on consortium of M/s
Slide 9: Geographical Expansion (1) Hooghly Cochin Shipyard Limited, Kolkata
GEOGRAPHICAL EXPANSION (1) Hooghly Cochin Shipyard Limited, Kolkata: CSL and Hooghly Dock & Port Engineers Limited (HDPEL), Kolkata have incorporated a new JV Company by name ‘Hooghly Cochin Shipyard Limited (HCSL)’ on 23 Oct 2017, with CSL holding 74% stake. HCSL is setting up a Shipbuilding /
Slide 10: Geographical Expansions (2) Mumbai Port Trust, (3) Kolkata Port Trust
GEOGRAPHICAL EXPANSIONS (2) Mumbai Port Trust: MoU inked with Mumbai Port Trust in Jan 2018 for ‘Development, Management and Operations’ of Ship Repair Facility at Indira Dock. Formal Agreement to be signed shortly. Facility : Hughes Drydock of size 300m x 30m x 9m and 4 afloat berths. Operati
Slide 11: Highlights: 2017-18
HIGHLIGHTS: 2017-18 Steel cutting 1200 Pax cum 1000 Tonne Cargo Vessels (2Nos) for A&N Administration Delivered Double Ended Ro-Ro Vessels (2 nos) to Kochi Municipal Corporation CSL listed after successful IPO Signed MoU with Central Institute of Fisheries Technology (CIFT) for design and co
Slide 12: Highlights: 2017-18
HIGHLIGHTS: 2017-18 Commenced construction of ‘Tuna Long Liner Cum Gilnetter Fishing Vessels’ (16nos) for Department of Fisheries, Tamil Nadu. Signed MoU with United Shipbuilding Corporation Limited (USC), Russia for co-operation on shipbuilding including Inland water vessels. Technology Demon
Slide 13: Outlook
OUTLOOK SHIPBUILDING: Total Balance orders No. of No. Project Value in hand Vessels (INR Cr.) (INR Cr.) IAC* for Indian Navy 1 1 2848.00 767.00 (Phase 2 in progress) 2 TDV for DRDO 1 365.00 150.00 3 500 Pax for A&N Administration 2 473.00 395.00 4 1200 Pax for A&N Administration 2 819.00 787.00 Fish
Slide 14: Projects at Contract Stage
PROJECTS AT CONTRACT STAGE Total No. Total Value No Project of Vessels (INR Cr.) 1 ASW Corvette for Indian Navy 8 5400 approx. Coastal Security Boats for Ministry of Home 2 56 360 approx. Affairs 3 Ro-Ro & Ro-Pax Vessels for IWAI 10 100 approx. Total (INR Crores) 5860 approx The above does not inclu
Slide 15: Experienced Management with Bandwidth
EXPERIENCED MANAGEMENT WITH BANDWIDTH Shri Madhu S Nair Shri D Paul Ranjan Shri Suresh Babu N V Shri Bejoy Bhasker Chairman & Managing Director (Finance) Director (Operations) Director (Technical) Director 33 years at CSL 32 years at CSL 30 years at CSL 30 years at CSL B. Com, Charted Acco
Slide 16: Financial Overview
Financial Overview
Slide 17: Revenue Mix (Rs Cr.)
REVENUE MIX (Rs Cr.) Particulars Q4FY18 Q4FY17 YoY % FY18 FY17 YoY % (Rs cr) Shipbuilding 503.53 458.47 10% 1731.86 1515.82 14% Ship Repair 97.07 63.62 53% 623.27 543.05 15% Turnover 600.60 522.09 15% 2355.12 2058.87 14% Other Income 38.09 45.40 -16% 189.16 158.63 19% Total Income 638.69 567.49 13%
Slide 18: Key Financial Parameters
KEY FINANCIAL PARAMETERS Particulars (INR cr) FY18 FY17 Networth 3256 2029 Book value / share (Rs) 240 179 Net Debt 123 123 EBITDA (%)* 28 26 EPS (Rs) 31.03 28.39 * Includes other income but excludes one off items
Slide 19: Turnover (Rs Cr) & EBITDA Margins
TURNOVER (RS CR) & EBITDA MARGINS 2500 35.00% 2355 29.21% 1996 1996 27.76% 30.00% 2000 1860 26.69% 1637 26.35% 25.00% 1554 22.00% 1462 20.61% 23.71% 1500 1405 20.45% 22.81% 1256 1249 20.23% 20.00% 15.00% 1000 10.00% 500 5.00% 0 0.00% FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 Turnover EBITDA
Slide 20: Profit After Tax (Rs Cr.) & PAT Margins (%)
PROFIT AFTER TAX (Rs Cr.) & PAT MARGINS (%) 450 20.00% 397 400 17.86% 18.00% 16.85% 350 15.57% 16.00% 322 15.62% 13.78% 14.00% 300 275 12.74% 11.86% 12.27% 11.92% 12.64% 12.00% 250 223 228 235 194 10.00% 200 172 185 160 8.00% 150 6.00% 100 4.00% 50 2.00% 0 0.00% FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY
Slide 21: Return Efficiencies
RETURN EFFICIENCIES Networth (INR cr), Return on Networth (%) 16% 16% 16% 15% 14% 12% 3256 2029 1561 1732 1176 1353 Networth Return on Networth Debt Equity Ratio 0.04
Slide 22: Shareholding Pattern – as on 31st March 2018
SHAREHOLDING PATTERN – as on 31st March 2018 Percentage Holding Top 5 Public FY18 Shareholders 3.45 11.26 Reliance MF 5.2% HDFC MF 2.3% 10.29 Pinebridge Global 2% Fund 75 Parvest Equity India 0.64% Aditya Birla Sunlife 0.61% Promoters Mutual Funds FPIs Others
Slide 23: Disclaimer
Disclaimer This presentation and the following discussion may contain “forward looking statements” by Cochin Shipyard Limited (“Cochin” or “CSL” or the “Company”) that are not historical in nature. These forward looking statements, which may include statements relating to future results of operation