Cochin Shipyard Ltd. has declared an interim dividend of Rs 3 per equity share for the financial year 2026-27, offering shareholders a payout even as the state-run shipbuilder reported a sharp decline in consolidated net profit for the September quarter.
The company has fixed November 16, 2026, as the record date to determine shareholders eligible to receive the dividend, according to an exchange filing on Tuesday.
The dividend represents a payout of 60% on the face value of Rs 5 per equity share. Cochin Shipyard said the interim dividend will be paid to eligible shareholders on or before December 9, 2026.
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The company's board approved the dividend along with its unaudited financial results for the quarter and half year ended September 30, 2026, at a meeting held on November 10.
Cochin Shipyard reported a 50% year-on-year decline in consolidated net profit to Rs 53.8 crore in the September quarter, compared with Rs 107.5 crore in the corresponding period last year.
However, revenue from operations increased 11.7% to Rs 1,249 crore from Rs 1,119 crore a year earlier.
Operating performance remained under pressure during the quarter. Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 30.8% to Rs 50.95 crore, compared with Rs 73.66 crore in the year-ago period.
EBITDA margin contracted to 4.1% from 6.6% in the corresponding quarter last year.
On a standalone basis, Cochin Shipyard reported a net profit of Rs 47.34 crore for the September quarter, down from Rs 101.09 crore in the year-ago period.
Standalone revenue from operations rose to Rs 1,073.79 crore from Rs 951.30 crore in the corresponding quarter last year.
Profit before tax declined to Rs 64 crore from Rs 139.82 crore a year earlier.
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The company's standalone results also showed a divergence in performance between its two key business segments. Shipbuilding revenue increased to Rs 606.99 crore from Rs 591.69 crore, while ship repair revenue rose to Rs 466.79 crore from Rs 359.60 crore.
However, the shipbuilding segment reported a loss at the operating level, with its segment result turning negative at Rs 46.42 crore, compared with a profit of Rs 118.93 crore in the year-ago quarter. The ship repair segment reported a segment profit of Rs 144.09 crore, against Rs 67.20 crore a year earlier.
The results were reviewed by the company's audit committee and subsequently approved by the board on November 10.
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