Cochin Shipyard share price rallies 3%. Is it a stock to buy ahead of Q4 results?
Cochin Shipyard share price jumped over 3 per cent in Thursday's trading session ahead of the March quarter (Q4) result announcement later today, May 15. This is the fifth straight day of gains for the defence stock. At 9:25 am, Cochin Shipyard stock was trading at ₹ 1,773 apiece.
Along with the Q4 results, the company is also anticipated to declare a dividend for FY25.
'We wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, May 15, 2025 to inter alia - consider and approve the standalone and consolidated audited financial results of the Company for the quarter and year ended March 31, 2025; and consider the recommendation of final dividend to the equity shareholders of the Company for the financial year 2024-25,' the company said in an exchange filing on May 9.
The company further informed that the trading window has been closed since April 1 and will remain closed for 48 hours after the results are made public on May 15.
'Pursuant to this, the closure of trading window under Code of Internal Procedures and Conduct for Prohibition of Insider Trading in Dealing with the Securities of Cochin Shipyard Limited which had commenced from April 01, 2025 shall end 48 hours after the results are made public on May 15, 2025,' the company added.
Kotak Institutional Equities expects Cochin Shipyard to post a 39% year-on-year revenue growth, primarily supported by progress in the ASW Corvette and NGMV projects, along with strong performance in the ship repair business.
The brokerage estimates Q4 revenue at ₹ 1,702 crore, up from ₹ 1,226 crore in the same period last year. Net profit for the quarter is projected at ₹ 273.60 crore, reflecting a 4% increase from ₹ 264.70 crore a year ago.
EBITDA margins are anticipated at 21.8%, boosted by a greater share from the ship repair segment.
According to Riyank Arora, Technical Analyst at Mehta Equities Ltd, Cochin Shipyard has given a strong breakout above ₹ 1,734 on the weekly charts, marking a fresh bullish trend continuation.
'The stock has broken out from a consolidation phase with strong volumes, indicating renewed buying interest. The breakout zone of ₹ 1,730– ₹ 1,735 now acts as a solid support level. As long as the stock holds above this zone, the outlook remains firmly bullish. Upside targets could be seen around ₹ 1,850 and ₹ 1,920 in the near term,' Arora said.
He further recommended traders to consider buying on dips toward ₹ 1,740– ₹ 1,750 with a stop loss below ₹ 1,700 for further momentum.
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