Cochin Shipyard announced on Monday, 17 February, that it has signed a Memorandum of Understanding (MoU) with AP Moller-Maersk to explore collaboration in ship repair, maintenance, and shipbuilding in India.

The agreement outlines key areas of cooperation, including sharing technical expertise to meet global ship maintenance standards, exploring opportunities in ship repair, dry docking, and new builds, as well as conducting joint training programs to promote responsible practices and skill development for both Cochin Shipyard and Maersk seafarers, according to the company’s exchange filing.

For the third quarter, Cochin Shipyard reported a 27.6% drop in net profit to Rs 177 crore from Rs 244.4 crore in the same period last year. Revenue from operations rose 8.6% to Rs 1,147.6 crore compared to Rs 1,056.4 crore a year ago. However, EBITDA declined 23.4% to Rs 237.4 crore from Rs 310.1 crore, with EBITDA margins contracting to 20.7% from 29.4% YoY.

Additionally, the board of directors declared a second interim dividend of Rs 3.5 per equity share (face value of Rs 5) for the financial year ending 31 March 2025. This follows the earlier interim dividend of Rs 4 declared on 7 November last year.

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