• Order book outlook: The current order book stands at approximately ₹22,300 crore and will reach around ₹27,000 crore once the ₹5,000 crore Navy NGSV contract is finalized. Consolidated revenue is guided to grow between 12% and 15% annually.
• Government policy incentives: Indian shipyards are supported by roughly ₹69,000 crore in government schemes, including a 25% capex subsidy under SBDS, 20% assistance under SBFF, and a 3% interest subvention. Cochin Shipyard has already completed its capex cycle by commissioning its large dry dock and ISRF ship repair facility.
• Government stake dilution: Management expects no further equity dilution in the near future, as the government has completed its 10% dilution target across recent tranches.
• Green shipping ventures: The company established a 40:60 joint venture with HBL Limited, named Green Maritime India Propulsion Limited, to develop domestic marinized battery systems. Additionally, it has secured orders to construct two green tugs for Polestar India Limited under the Green Tug Transition Program.