Cochin Shipyard Limited (COCHINSHIP.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-111.9%

-₹143.54

vs ₹1,208.90 price

Levered DCF

₹690.67

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	43.8×	44.32×	32.53×	20.54×	6.86×	8.09×	5.54×	11.05×
P/B	5.35×	6.57×	5.09×	1.41×	0.88×	1.22×	0.94×	1.59×
P/S	6.25×	7.61×	6.65×	2.65×	1.21×	1.75×	1.02×	1.78×
EV / EBITDA	26.99×	34.9×	27.92×	14.03×	4.01×	5.92×	4.77×	8.17×
Gross margin	23.0%	36.7%	39.2%	32.8%	36.5%	42.5%	35.4%	36.4%
Operating margin	13.6%	25.7%	28.5%	18.2%	26.5%	32.0%	26.2%	26.1%
Net margin	14.3%	17.2%	20.4%	12.9%	17.7%	21.6%	18.5%	16.1%
Current ratio	1.33×	1.33×	1.33×	1.39×	1.68×	1.72×	2.05×	2.34×
Debt / equity	0.28×	0.1×	0.1×	0.13×	0.13×	0.13×	0.14×	0.04×
Interest coverage	7.38×	22.46×	23.63×	9.95×	15.89×	15.48×	17.95×	50.24×
Dividend yield	0.8%	0.7%	0.9%	3.7%	5.3%	7.5%	6.6%	3.1%
Payout ratio	35.8%	31.0%	30.2%	76.6%	36.2%	60.5%	36.7%	34.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.2%	14.8%	15.7%	6.9%	12.8%	15.1%	17.0%	14.4%
Return on invested capital	6.4%	14.7%	14.4%	6.2%	12.5%	14.7%	21.0%	19.1%
Return on assets	4.9%	6.2%	6.5%	3.0%	6.7%	8.1%	9.9%	9.1%
Free cash flow yield	-4.2%	-2.2%	-3.2%	24.7%	29.3%	7.3%	-6.9%	-14.0%
Earnings yield	2.3%	2.3%	3.1%	4.9%	14.6%	12.4%	18.0%	9.1%
Enterprise value	₹329.6B	₹369.1B	₹256.7B	₹47.7B	₹30.1B	₹47.3B	₹36.9B	₹49.1B
Net debt / EBITDA	1.28×	0.23×	0.21×	-4.4×	-1.15×	-0.24×	0.24×	-0.63×
Cash conversion cycle (days)	156	183	283	226	78	169	-17	63