Cochin Shipyard Limited · NSE:COCHINSHIP
Cochin Shipyard — Q3 FY2024 Earnings Presentation
31 slides from Cochin Shipyard's earnings presentation, Feb 8, 2024
Slide 1: Exchange filing cover letter for Q3 FY24 investor presentation
SEC/48/2017-63 February 08, 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: 5
Slide 2: Cochin Shipyard Limited Investor Presentation
Cochin Shipyard Limited आत्मनिर्भर र्ारत अनर्याि Investor Presentation
Slide 3: Contents
Contents Important Operational Events for Q3 FY24 Financial Performance Q3 FY24 Infrastructure Augmentation Novel & Green Initiatives Order Book Position
Slide 4: Important Operational Events for Q3 FY 2024
IMPORTANT OPERATIONAL EVENTS FOR Q3 FY 2024
Slide 5: Highlights
Highlights - Delivered two Electric Hybrid 100 Pax Water Metro boat to Kochi Metro. - Delivered two Hybrid Electric Catamaran Passenger vessels to IWAI. - Contract was signed with Ministry of Defence for a value of Rs.488.25 crores for repair and maintenance of the equipments and systems onboard INS
Slide 6: Highlights
Highlights - CSL awarded seed funding of Rs. 30 Lakhs each to 3 start-ups through IIMK (LIVE) backed USHUS Marine Start Up Support Program. - After completion of all the civil works, ISRF and the New Dry-dock was inaugurated by the Hon’ble Prime Minister on January 17, 2024. - Keel laid 2 nos. of An
Slide 7: Highlights
Highlights - CSL was honoured with Maritime Excellence Award during INMEX SMM India Summit in recognition for its commitment towards sustainable solutions and the stellar performance in shipbuilding, under the category, ‘Shipbuilding Company of the Year’. - CSL was honoured with the Maritime Excelle
Slide 8: Highlights
Highlights - Udupi Cochin Shipyard Limited (UCSL) Keel Laid the second 70T Bollard Pull Tug being built for Polestar Maritime Limited. - UCSL delivered one no. of 62 Tonne Bollard Pull Tug, being built for Ocean Sparkle Limited, the leading tug operator in India. - Steel cutting of 2 nos. of 3800 T
Slide 9: Financial Performance Q3 FY24
FINANCIAL PERFORMANCE Q3 FY24
Slide 10: Financial Highlights
FINANCIAL HIGHLIGHTS Rs Crs Standalone Consolidated Particulars FY 24 FY 24 Nine FY 23 Nine FY 24 Q3 FY 23 Q3 QoQ % QoQ % FY23 Nine FY23 Months Months Months Turnover (Rs Crs) 1,021.45 630.86 62% 2,419.79 1,753.49 38% 2,330.46 2,544.40 2,364.55 Profit Before Tax (Rs 344.84 150.66 129% 748.15 390.20
Slide 11: Revenue Mix
REVENUE MIX Rs Crs Standalone Consolidated Particulars FY 24 FY 23 FY 24 Nine FY 24 Q3 FY 23 Q3 QoQ % Nine Nine % FY 23 FY 23 months months months Shipbuilding 718.15 452.25 59% 1,714.31 1,329.84 29% 1,766.45 1,838.92 1,792.97 Ship Repair 303.30 178.61 70% 705.48 423.65 67% 564.01 705.48 571.59 Turn
Slide 12: Key Financial Parameters
KEY FINANCIAL PARAMETERS Standalone Consolidated Particulars FY 24 Nine FY 24 Nine FY 23 FY 23 months months Net worth (Rs Crs) 4836.80 4423.42 4815.24 4427.65 Book value / share (Rs) 367.70 336.28 366.07 336.60 (Before share split) Net Debt (Rs Crs) 23.00 123.00 23.00 123.00
Slide 13: Turnover (Rs Crs) & EBITDA Margins (%)
TURNOVER (Rs Crs) & EBITDA MARGINS(%) 4000 40% 3422 3500 28% 3190 35% 2819 2962 3000 28% 27% 32% 28% 34% 30% 26% 24% 2330 2500 23% 2355 2420 25% 21% 20% 2059 1996 23% 2000 1860 20% 1554 1637 1500 15% 1000 10% 500 5% 0 0% FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 9M Turnover EBITDA
Slide 14: Profit After Tax (Rs Cr.) & PAT Margins (%)
PROFIT AFTER TAX (Rs Cr.) & PAT MARGINS (%) 700 25% 638 23% 610 19% 600 22%587 548 16% 20% 500 17% 481 16% 18% 14% 16% 14% 397 15% 400 13% 12% 12% 12% 322 334 300 275 235 10% 228 185 194 200 172 5% 100 0 0% FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 9M PAT PAT Margins %
Slide 15: Return Efficiencies
RETURN EFFICIENCIES Net worth (Rs Crs), RoE (%) 17% 15% 16% 16% 14% 16% 4837 15% 4423 4359 14% 13% 3978 12% 3732 3332 11% 3256 8% 2029 1732 1561 1353 1176 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 9M Networth Return on Networth
Slide 16: Status of Vessels Under Construction
STATUS OF VESSELS UNDER CONSTRUCTION
Slide 17: 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, Hull block erection under progress BY 528-530: Vessel No.6,7
Slide 18: Status of vessels under construction
Status of vessels under construction 7K Multipurpose SH 29-36: 8 vessels Vessel for European Clients SH 29 & 30 : Vessel 1& 2 :- Hull block erection and outfitting under progress Keel laid for all vessels SH 31-36 : Vessel 3 to 8 :- Under various stages of construction Commissioning BY 151-152: 2 ve
Slide 19: Status of vessels under construction
Status of vessels under construction 12000 Cu. M. SH 37: 1 vessel Trailer Suction Hopper Dredger Fabrication commenced on 11 Dec’23 Hydrogen Fuel Pilot Project. BY150: 1 vessel Cell Vessel Equipment commissioning under progress, sea trials planned by mid of Feb’24.
Slide 20: Infrastructure Augmentation
INFRASTRUCTURE AUGMENTATION
Slide 21: New Dry Dock Project
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. Tot
Slide 22: New Dry Dock Project
New Dry Dock Project • Recent Snapshots of new dry-dock
Slide 23: International Ship Repair Facility (ISRF) Project
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. 756.19
Slide 24: International Ship Repair Facility (ISRF) Project
International Ship Repair Facility (ISRF) Project Recent snapshots of ISRF
Slide 25: Novel & Green Initiatives
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Slide 26: Zero emission Green Vessels
Zero emission Green Vessels H2 Fuel Cell Vessel Electric Catamaran Ferry Pilot Project by CSL 8 Nos contracted by IWAI • 2 No. of vessels delivered to IWAI • 100 Passenger Ferry Boat • Air conditioned passenger area for 50 pax • Fully Indigenised ‘Home Grown Technology’ • Design Speed – 9 Knots • 2
Slide 27: USHUS Maritime Start Up Engagement Programme; Autonomous Surface Vessel
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
Slide 28: Order Book Position
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Slide 29: Shipbuilding Order Book Position
Shipbuilding Order Book Position – Rs. 21,500 Crs. (Approx.) { Healthy – Clear Visibility on Revenue } (Rs. Crore) Sl. No. of Order Sl. Subsidiaries Project Name of the Subsidiary Order Value* No. Vessels Value* No. Defence Post Commission works of Indigenous 1. Hooghly Cochin Shipyard Limited (HCSL
Slide 30: Shipbuilding Order Pipeline/Possibilities
Shipbuilding Order Pipeline/Possibilities – Rs. 9,000 Crs. (Approx.) Commercial – Export Sl. Approx. Order Value Rs. Project Rs. 6,300 No. (Rs. Crs.) 1,160Crs. Crs. (Com. (Com. 1. Vessels to foreign clients 6,300 Exp.) Dom.) Commercial – Domestic Rs. 1,600 Crs. (Def.) Approx. Order Sl. No. Project V
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