Profit before tax declined 18.6% YoY to Rs 196.78 crore in Q3 FY26, compared with Rs 241.86 crore in the corresponding quarter last year.

Total expenses jumped 28.52% YoY to Rs 1,224.77 crore during the quarter. The cost of materials consumed was at Rs 596.80 crore (up 16.31% YoY), while employee benefits expenses stood at Rs 123.32 crore (up 19.54% YoY) during the period under review.

On the segmental front, revenue from shipbuilding stood at Rs 1,013.12 crore (up 56.49% YoY), while revenue from ship repair stood at Rs 337.29 crore (down 32.57% YoY) during the quarter.

Meanwhile, the company declared a second interim dividend of Rs 3.50 per equity share for FY26, with 3 February 2026 set as the record date. The dividend will be paid on or before 26 February 2026.

During the quarter, the board approved the formation of a joint venture with HBL Engineering to develop electric mobility technology and energy storage solutions for the marine sector. It also approved the acquisition of a 23% stake in Netherlands-based Conoship International Holding BV to strengthen its European presence by gaining access to advanced ship design capabilities.

Cochin Shipyard is a leading player in the construction of all kinds of vessels and the repair and refit of all types of vessels, including periodic upgrades and life extensions of ships.

The counter rose 0.53% to Rs 1,631.20 on the BSE.