COCHIN SHIPYARD Announces Quarterly Results (1QFY22); Net Profit Down 30.8%

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COCHIN SHIPYARD Announces Quarterly Results (1QFY22); Net Profit Down 30.8%
Wed, 11 Aug

COCHIN SHIPYARD has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

COCHIN SHIPYARD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m3,32510,8033,294-69.5%-0.9%
Other incomeRs m640679458-32.5%-28.4%
TurnoverRs m3,96511,4823,752-67.3%-5.4%
ExpensesRs m3,1608,2283,085-62.5%-2.4%
Gross profitRs m1652,702227-91.6%38.1%
DepreciationRs m1211691711.0%41.1%
InterestRs m115167118-29.4%2.8%
Profit before taxRs m5693,045397-87.0%-30.2%
TaxRs m154683110-83.8%-28.6%
Profit after taxRs m4142,362287-87.9%-30.8%
Gross profit margin%5.025.06.9
Effective tax rate%27.122.427.8
Net profit margin%10.520.67.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 0.9% on a year-on-year (YoY) basis. The expenses were down by 2.4% YoY during the same period.
  • The company's operating profit increased by 38.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.9% in 1QFY22 as against 5.0% in 1QFY21.
  • Depreciation charges increased by 41.1% and finance costs increased by 2.8% YoY, respectively.
  • Other income declined by 28.4% YoY during the quarter.
  • Net profit for the quarter declined by 30.8% YoY. Net profit margins during the quarter declined from 10.5% in 1QFY21 to 7.6% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 69.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 62.5% QoQ during the same period.
  • The company's operating profit declined by 91.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.9% in 1QFY22 as against 25.0% in 4QFY21.
  • Net profit for the quarter declined by 87.9% QoQ, while net profit margins declined from 20.6% in 4QFY21 to 7.6% in 1QFY22.

To see how COCHIN SHIPYARD has performed over the last eight quarters,please visit here.

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COCHIN SHIPYARD Share Price Performance

Over the last one year, COCHIN SHIPYARD share price has moved up from Rs 353.0 to Rs 355.9, registering a Gain of Rs 2.9 or around 0.8%.

Overall, the S&P BSE SENSEX is up 42.5% over the year.

Current Valuations

At the current price of Rs 355.9, the price to earnings (P/E) ratio of COCHIN SHIPYARD stands at 7.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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