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The order covers the construction of four 26-metre, fully electric ‘TRAnsverse’ (TRAnsverse 2600E) tugs with a 70-ton bollard pull at CSL, with an option for up to four additional vessels. The tugs will be constructed according to Svitzer’s specifications to support its global fleet renewal plan and advancement in operations worldwide. The delivery of the tugs is targeted to commence from late 2027.
The association combines Svitzer’s global expertise in advanced and sustainable towage solutions with CSL’s proven shipbuilding capabilities, skilled workforce and local innovation
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 company reported a 43.08% decline in consolidated net profit to Rs 107.53 crore on a 2.15% decrease in revenue from operations to Rs 1,118.59 crore in Q2 FY26 over Q2 FY25.
The scrip shed 0.07% to Rs 1,642.90 on the BSE.
Cochin Shipyard (CSL) has signed shipbuilding contracts with Svitzer, Denmark on 05 December 2025, for building four 26-metre fully electric ‘TRAnsverse' (“TRAnsverse 2600E”) 70 Ton bollard pull tugs in CSL, with an option for up to four additional vessels.
The tugs will be constructed according to Svitzer's specifications to support its global fleet renewal plan and advancement in operations worldwide. The delivery of the tugs is targeted to commence from late 2027.
On the basis of the contract value, this order is classified as a Significant order (valued between Rs 250 crore to Rs 500 crore) according to the Order Classification parameters of CSL.
Total expenses rose 11.72% YoY to Rs 1,095.97 crore during the quarter. The cost of materials consumed was at Rs 554.76 crore (down 7.99% YoY), while employee benefits expenses stood at Rs 114.27 crore (up 9.63% YoY) during the period under review.
On the segmental front, revenue from shipbuilding stood at Rs 758.98 crore (down 11.75% YoY), while revenue from ship repair stood at Rs 359.60 crore (up 27% YoY) during the quarter.
On half-year basis, the company's consolidated net profit declined 18.66% to Rs 295.36 crore on 14.53% rise in revenue to Rs 2187.18 crore in H1 FY26 over H1 FY25.
Meanwhile, the company’s board has declared an interim dividend of Rs 4 per equity share for the financial year 2025–26 and has fixed Tuesday, 18 November 2025, as the record date for the said interim dividend. The interim dividend will be paid to eligible shareholders on or before 11 December 2025.
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 2.14% to Rs 1,792.05 on the BSE
Svitzer today announced the signing of a landmark Letter of Intent (LoI) with Cochin Shipyard (CSL) to construct a new generation of electric TRAnsverse tugs in India. The agreement marks a clear step forward in Svitzer's electrification roadmap and in strengthening India's role as a global maritime manufacturing hub.
Under the LoI, Svitzer and CSL will collaborate on plans to build electrical TRAnsverse tugboats at CSL's yard facilities in India — signaling Svitzer's long-term intent to Make in India and to bring to market one of the most advanced and environmentally progressive tug designs to support India's green port and green towage ambitions. Signature took place during India Maritime Week in Mumbai.
The collaboration will combine Svitzer's global expertise in sustainable towage with CSL's excellent shipbuilding capability and the wider strengths of India's engineering talent, supply chains and innovation ecosystem.
The TRAnsverse concept is central to the partnership. Known for exceptional manoeuvrability and efficiency, TRAnsverse tugs provide precise control in confined waters, improving safety and operational performance while reducing energy use and emissions.
These vessels are intended for Svitzer's global fleet renewal and growth markets, and will also create the opportunity for a locally built, world-class design to be deployed in Indian port and terminal operations.
According to the company's project classification, the value of the order is above Rs 2,000 crore.