Cochin Shipyard Limited · NSE:COCHINSHIP
Cochin Shipyard — H1 FY24 Earnings Presentation
30 slides from Cochin Shipyard's earnings presentation, Nov 20, 2023
Slide 1: Stock exchange cover letter: Investor Presentation H1 FY24
SEC/48/2017-63 November 20, 2023 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 अभर्याि Investor Presentation
Slide 3: Contents
Contents ▪ Important Operational Events for H1 FY24 ▪ Financial Performance Q2 & H1 FY24 ▪ Infrastructure Augmentation ▪ Novel & Green Initiatives ▪ Order Book Position
Slide 4: Important Operational Events for H1 FY 2024
IMPORTANT OPERATIONAL EVENTS FOR H1 FY 2024
Slide 5: Highlights – Shipbuilding
Highlights – Shipbuilding - Delivered four Electric Hybrid 100 Pax Water Metro boat to Kochi Metro. - Completed the steel cutting of 2 nos. of Commissioning Service Operation Vessels (CSOV) being built for Pelagic Wind Services, Cyprus. - Received order for 8 nos. of Hybrid Electric Catamaran Passen
Slide 6: Highlights – Shipbuilding
Highlights – Shipbuilding - Naval Ship Repair Yard (Karwar), Indian Navy, signed Multiple Refit Contract (MRC) with Cochin Shipyard Limited for Water Jet Fast Attack Crafts refits. - M/s. Syncrolift, Norway, delivered ship lift platform having size 130 x 27 Mtr. and 2000 T approx., at ISRF site of C
Slide 7: Highlights – Shipbuilding
Highlights – Shipbuilding - UCSL bagged an international order from M/s. Wilson Shipowning AS, Norway, for Design and Construction of 6 Nos. new generation diesel electric 3800 DWT general cargo vessel with an option for 8 more vessels – The estimated contract value is Rs.580 crores (Approx.) and wi
Slide 8: Financial Performance Q2 & H1 FY24
FINANCIAL PERFORMANCE Q2 & H1 FY24
Slide 9: Financial Highlights
Financial Highlights (Rs. Crs.) *Including other income
Slide 10: Revenue Mix
Revenue Mix Standalone FY 24Q2 FY 23Q2 QoQ% FY 24H1 Shipbuilding 702.30 Ship Repair 554.99 Turnover 954.20 Other Income 87.57 Total Income 1,041.76 527.28 155.63 682.91 61.46 744.37 33% 62% 40% 42% 40% 996.16 402.18 1,398.34 171.76 1,570.10 FY 23H1 877.59 245.04 1,122.63 118.95 1,241.58 (Rs. Crs.) C
Slide 11: Key Financial Parameters
Key Financial Parameters Standalone Consolidated FY 24 H1 FY23 FY 24H1 FY 23 Net worth (Rs Crs) 4714.87 4423.42 4702.84 4427.65 Book value / share (Rs) 358.44 336.28 357.52 336.60 Net Debt (Rs Crs) 123.00 123.00 123.00 123.00
Slide 12: Turnover (Rs Crs) & EBITDA Margins (%)
Turnover (Rs Crs) & EBITDA Margins(%) 4000 32% 35% 28% 34… 32% 3500 28% 27% 28% 30% 26% 3190 3000 24% 23% 2962 2819 21% 25% 2500 20% 2355 2330 23% 1996 2059 20% 2000 1860 1554 1637 15% 1500 1398 10% 1000 500 5% 0 0% FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 H1 Turnover EBITDA Margi
Slide 13: Profit After Tax (Rs. Crores) and PAT margins (%)
Profit After Tax (Rs. Crores) and PAT margins (%) 700 25% 638 610 19% 600 16% 22%587 21% 20% 500 17% 481 16% 18% 16% 14% 397 15% 400 13% 14% 12% 12% 12% 322 334 300 300 275 228 235 10% 185 194 200 172 5% 100 0 0% FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY 23 FY 24 H1 PAT PAT Marg
Slide 14: Return Efficiencies
Return Efficiencies 17% 15% 4359 4423 16% 16% 14% 16% 3978 15% 3732 14% 13% 3256 3332 12% 2029 8% 1732 1561 1353 1176 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Networth Return on Networth
Slide 15: Status of Vessels Under Construction
STATUS OF VESSELS UNDER CONSTRUCTION
Slide 16: Status of vessels under construction
Status of vessels under construction ASW SCW BY523-530: 8 vessels Corvette for Indian BY523-525: Vessel No.1,2 & 3 :- Launching planned in Nov 2023 Navy BY526-527: Vessel No.4 & 5 :- Keel laying planned in Dec 2023 BY528-530: Vessel No.6,7 & 8 :- Advanced stage of block fabrication Hybrid Electric B
Slide 17: Status of vessels under construction
Status of vessels under construction 7K Multipurpose SH29-36: 8 vessels Vessel for European Clients Block fabrication in progress Vessel No.1 & 2 Keel laying planned in Dec 2023 Commissioning BY151-152: 2 vessels Service Operation Vessels Plate cutting done on 01 Sep 23- Fabrication in progress
Slide 18: Status of vessels under construction
Status of vessels under construction 12000 Cu. M. SH37: 1 vessel Trailer Suction Hopper Dredger Fabrication commencement in Nov 2023 Hydrogen Fuel Pilot Project. BY150: 1 vessel Cell Vessel Construction in progress, Launching done on 01 Nov 23, Completion in Dec 2023
Slide 19: Infrastructure Augmentation
INFRASTRUCTURE AUGMENTATION
Slide 20: 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 21: New Dry Dock Project
New Dry Dock Project • Recent Snapshots of dry dock project site • 600T Gantry crane arrived at CSL for the New Dry-dock Project.
Slide 22: 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. 736.76
Slide 23: International Ship Repair Facility (ISRF) Project
International Ship Repair Facility (ISRF) Project Ship lift platform having size 130 x 27 Mtr. and 2000 T approx., positioned at ISRF site of CSL. Commissioning activities are in progress.
Slide 24: Novel & Green Initiatives
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Slide 25: Zero emission Green Vessels
Zero emission Green Vessels H2 Fuel Cell Vessel Electric Catamaran Ferry Pilot Project by CSL 8 Nos contracted by IWAI • 100 Passenger Ferry Boat • Air conditioned passenger area for 50 pax • Fully Indigenised ‘Home Grown Technology’ • Design Speed – 9 Knots • 2 x 25 kWh H2 Fuel Cell, 6 kWh Solar Pl
Slide 26: CSL's Maritime Start Up Engagement Programme USHUS
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 27: Order Book Position
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Slide 28: Shipbuilding Order Book Position (As on Sep 2023)
Shipbuilding Order Book Position (As on Sep 2023) – Rs. 22,000 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 Shipy
Slide 29: Shipbuilding Order Pipeline/Possibilities
Shipbuilding Order Pipeline/Possibilities – Rs. 13,000 Crs. (Approx.) Commercial – Export Defence/ RFP Stage Sl. No. of Approx. Order Value Sl. Approx. Order Value Project Project No. Vessels (Rs. Crs.) No. (Rs. Crs.) 1. Fast Patrol Vessels (FPV) 14 1,400 1. Vessels to European clients 10,000 Total
Slide 30: Thank You