Cochin Shipyard shares rise as it wins up to ₹250 crore green tug order from Polestar Maritime

Shares of Cochin Shipyard Ltd. gained on Friday, January 30, as the company won a "notable" order from Polestar Maritime Ltd.

The company classifies orders in the ₹100 crore to ₹250 crore range as "notable".

The order is for the construction of two Green Tugs of 60 T Bollard Pull Power under the Green Tug Transition Programme of the Ministry of Ports, Shipping and Waterways.

The tugs are scheduled to be delivered in August 2027 and September 2027, respectively, the company said.

Cochin Shipyard reported a mixed performance for the third quarter this week. Its net profit declined 18.3% to ₹144.6 crore from last year, while its revenue increased 17.7% to ₹1,350.4 crore. The company's earnings before interest, tax, depreciation and amortisation (EBITDA) declined 21.5% to ₹186.6 crore and its operating margins contracted to 13.8% from 20.7% in the year-ago period.

It also declared a second interim dividend of ₹3.5 per equity share for the financial year 2026, with February 3, 2026 as the record date. The dividend will be paid to shareholders on or before February 26, 2026.

Shares of Cochin Shipyard were trading 1.2% up at ₹1,629.8 apiece around 12.15 pm. The stock has gained 11.9% in the past year.

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