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COCHINSHIP

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-16.85 (-2.94%)

NSE Volume

16.5L+

Broker Reports

Call Price: ₹362.77
8 DEC 20
Target: ₹435
Change: ₹359.25 (1.24%)

BUY

Call Price: ₹357.76
24 NOV 20
Target: ₹435
Change: ₹367.1 (2.53%)

BUY

Call Price: ₹261.46
30 MAR 20
Target: ₹301
Change: ₹271 (2.55%)

BUY

Given improvement in order book visibility, capacity expansion and strong execution capabilities, we continue to maintain our positive view on the stock. We value CSL at a P/E multiple of 6x on FY21E with a target price of Rs301 and maintain BUY rating.
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Call Price: ₹346
7 AUG 19
Target: ₹440
Change: ₹348.5 (0.14%)

BUY

CSL continues to have a solid order book of | 8,050 crore. It is also likely to receive order for phase III of IAC, which is likely to be ~| 10,270 crore (| 3000 crore as fixed price contract and | 7270 crore as cost-plus contract) in a month or two. This takes the total order backlog to | 18,320 crore. In FY20E, we expect CSL to book significant revenues on the SB side, due to execution of current order book plus lumpy execution from the ‘cost-plus’portion of IAC phase III. SB revenues are expected to grow at 23.3% CAGR while shiprepair is expected to slightly decline at 3.2% CAGR, in FY19-21E. We expect overall margins to get diluted in FY20E-21E due to higher contribution from the SB side. Thus, we estimate revenue, EBITDA and PAT CAGR of 16.5%, 12.1% and 5.1%, respectively, in FY19-21E. On the whole, we maintain our BUY recommendation on the stock and value CSL at 11x FY21E earnings for a target price of Rs 440/share.
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Call Price: ₹378.25
29 MAY 19
Target: ₹455
Change: ₹359.8 (0.8%)

BUY

CSL has a healthy order book of | 8536 crore (adding ship repair orders of ~| 250 crore). It is also likely to receive order for phase III of IAC, which is likely to be ~| 10,270 crore (| 3000 crore as fixed price contract and | 7270 crore as cost-plus contract). This takes the total order backlog to | 18,806 crore. In FY20-21E, we expect CSL to book significant revenues on the SB side, due to execution of current order book plus lumpy execution from the‘cost-plus’ portion of IAC phase III. Thus, SB and SR revenues are likely togrow at 25.9% and -3.2% CAGR respectively, in FY20-21E. We expect overall margins to get diluted in FY20E-21E due to higher contribution from SB side. Thus, we estimate revenue, EBITDA and PAT CAGR of 18.5%, 14% and 6.8%, respectively, in FY20-21E. We value CSL at 11x FY21E earnings to arrive at target price of Rs 455/share. We maintain BUY recommendation on the company.
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Call Price: ₹345.25
14 FEB 19
Target: ₹410
Change: ₹359.8 (0.8%)

BUY

CSL has a healthy order book of | 1607 crore plus L1 status for ASW vessels (| 5392 crore). It is also likely to receive order for phase III of IAC, which is likely to be Rs 10,270 crore (| 3000 crore as fixed price contract and | 7270 crore as cost-plus contract). This takes the total order backlog to Rs 17,569 crore (adding ship repair orders of ~| 300 crore). In FY19E- 20E, we expect CSL to book significant revenues on the SB side, due to execution of current order book plus lumpy execution from the ‘cost-plus’ portion of IAC phase III. Thus, SB and SR revenues are likely to grow at 25% and 6.4% CAGR over FY18-21E. We expect overall margins to get diluted in FY19E-21E due to higher contribution from SB side. Thus, we estimate revenue, EBITDA and PAT CAGR of 20.6%, 16.2% and 8.8%, respectively, in FY18-21E. We value CSL at 11x FY21E earnings to arrive at target price of Rs 410/share. We maintain BUY recommendation on the company.
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Call Price: ₹400
17 OCT 18
Target: ₹520
Change: ₹359.8 (0.8%)

BUY

Call Price: ₹438.12
16 AUG 18
Target: ₹670
Change: ₹359.8 (0.8%)

BUY

Call Price: ₹441.15
16 AUG 18
Target: ₹610
Change: ₹359.8 (0.8%)

BUY

Call Price: ₹441.15
16 AUG 18
Target: ₹580
Change: ₹359.8 (0.8%)

HOLD

Call Price: ₹516.45
6 APR 18
Target: ₹625
Change: ₹359.8 (0.8%)

BUY

Call Price: ₹504.14
20 MAR 18
Target: ₹623
Change: ₹359.8 (0.8%)

ACCUMULATE

Call Price: ₹532.2
1 MAR 18
Target: ₹660
Change: ₹359.8 (0.8%)

BUY

Call Price: ₹518.5
7 FEB 18
Target: ₹725
Change: ₹359.8 (0.8%)

BUY

Call Price: ₹556.15
16 JAN 18
Target: ₹700
Change: ₹359.8 (0.8%)

BUY

Call Price: ₹562.75
12 OCT 17
Target: ₹740
Change: ₹359.8 (0.8%)

BUY

Call Price: ₹572.4
11 OCT 17
Target: ₹725
Change: ₹359.8 (0.8%)

BUY

Call Price: ₹562.65
11 SEP 17
Target: ₹725
Change: ₹359.8 (0.8%)

BUY

About
Cochin Shipyard Ltd. NSE: COCHINSHIP | BSE: 540678 | ISIN: INE704P01017 | Sector: Shipping
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