• Order book and growth: Cochin Shipyard holds an order book of ₹21,300 crore, which expands to ₹26,300 crore including recent L1 bids expected to convert by September. Organic execution is guided to grow at 12% to 15% annually over the next few years.
• Revenue mix strategy: The company is deliberately shifting toward a balanced 50:50 mix between defense and commercial/export orders to support overheads while protecting against shipbuilding cyclicality.
• Ship repair expansion: Ship repair revenue is targeted to increase from ₹1,500 crore to ₹2,500 crore within three years across multiple dedicated facilities, maintaining higher EBITDA margins of 22% to 24% compared to 10% to 12% in shipbuilding.
• Capital expenditure pipeline: The company plans a CAPEX of ₹2,500 crore over the next three years and ₹6,500 crore over five years, including the Vadinar project, funded via a mix of retained earnings (50% of PAT) and debt.