This multibagger PSU stock climbs 10% to new all-time high on stellar Q4 results

Shares of the state-run shipbuilding entity Cochin Shipyard in morning deals on Monday (May 27, 2024) climbed nearly 10 per cent to log a fresh all-time high of Rs 2100 apiece on the BSE. The sharp spurt in the PSU stock is triggered after the company announced stellar Q4 results post-market hours last Friday.

For the reporting quarter, the company’s consolidated net profit soared steeply from Rs 39.34 crore in Q4FY23 to Rs 258.88 crore, a 6.6 times rise year-on-year. Revenue from operations at the company also zoomed 114.31 per cent or more than doubled to Rs 1,286.05 crore in comparison to Rs 600.09 crore reported in the same period a year ago.

The company's revenue from the shipbuilding segment was at Rs 985.16 crore (up 117.07% YoY) and income from the ship repair division came in at Rs 300.89 crore (up 105.75% YoY). Nevertheless, the unallocated revenue was at Rs 8011.85 crore.

At the operating level, the company posted remarkable improvement on-year with EBITDA soaring to Rs 288 crore in Q4FY24 as against a loss of Rs 67 crore during the same period last year. EBITDA, or earnings before interest, tax, depreciation, and amortisation, is a key financial metric of a company's operational profitability.

The company's board also proposed a final dividend of Rs 2.25 per equity share.

Cochin Shipyard share price performance

Shares of Cochin Shipyard have leaped by a significant 731 per cent in the last one year, while its 1-month return is at an outstanding over 47 per cent.