Summary of Key Information:
Reporting Period: Quarter ended June 30, 2026
Nature of Filing / Announcement: Outcome of Board Meeting - Unaudited Financial Results
Audit Opinion:
Limited Review Report issued with Emphasis of Matter paragraphs. No qualified opinion.
Key Financial Highlights [Rs in Lakhs]:
Consolidated Results:
Revenue from Operations: ₹116,125.05 (Q1 FY27) vs ₹164,133.42 (Q1 FY26) - 29.2% decrease YoY
Total Income: ₹116,125.05 (Q1 FY27) vs ₹164,133.42 (Q1 FY26)
Net Profit: ₹15,145.36 (Q1 FY27) vs ₹27,648.44 (Q1 FY26) - 45.2% decrease YoY
EPS: ₹5.76 (Basic and Diluted) vs ₹10.51 (Q1 FY26)
Standalone Results:
Revenue from Operations: ₹90,991.85 (Q1 FY27) vs ₹121,359.83 (Q1 FY26) - 25.0% decrease YoY
Total Income: ₹98,233.90 (Q1 FY27) vs ₹136,303.97 (Q1 FY26)
Net Profit: ₹13,579.57 (Q1 FY27) vs ₹21,640.16 (Q1 FY26) - 37.2% decrease YoY
EPS: ₹5.16 (Basic and Diluted) vs ₹8.23 (Q1 FY26)
Financial Position Indicators (Consolidated):
Networth: ₹604,260.47 lakhs
Debt Equity Ratio: 0.21
Current Ratio: 1.33
Credit Rating: AAA
Segment-wise Performance [Rs in Lakhs]:
Consolidated Segment Revenue:
Ship Building: ₹75,004.27 (Q1 FY27) vs ₹115,449.27 (Q1 FY26)
Ship Repair: ₹39,417.16 (Q1 FY27) vs ₹32,978.51 (Q1 FY26) - 19.5% increase YoY
Unallocated: ₹6,703.62 (Q1 FY27) vs ₹15,705.64 (Q1 FY26)
Consolidated Segment Profit (PBIT):
Ship Building: ₹6,388.80 (Q1 FY27) vs ₹27,504.72 (Q1 FY26) - 76.8% decrease YoY
Ship Repair: ₹13,501.66 (Q1 FY27) vs ₹3,178.53 (Q1 FY26) - 324.7% increase YoY
Corporate Actions:
No dividend declarations, share splits, bonus issues, or buybacks announced.
Other Significant Information:
Suspended Vessel Construction Project:
- Two 1200-passenger vessels for Andaman & Nicobar Administration (yard nos. SH.0023 and SH.0024)
- Contract value: ₹81,900 lakhs (excluding taxes and foreign exchange variation)
- Construction suspended at buyer's request for potential reallocation
- Cumulative completion: 54.84% for SH.0023 and 55.19% for SH.0024
- Liquidated damages: ₹11,814.08 lakhs for SH.0023 and ₹9,756.34 lakhs for SH.0024
- Revenue recognized: ₹16,946.56 lakhs for SH.0023 and ₹17,160.10 lakhs for SH.0024
- Discussions ongoing with A&N Administration and UT Lakshadweep Administration for vessel modifications
- Bank guarantees worth ₹112,412 lakhs pending renewal as of March 31, 2026
Auditor Emphasis of Matter:
1. Suspension of construction of two passenger vessels and related uncertainties
2. Lease accounting issues at Hooghly Cochin Shipyard Limited regarding lease term and effective dates
3. Provision for interest on delayed payment of lease rent to Government of India by HCSL (₹55 lakhs)
4. Construction delay of Caisson Gate by HCSL (98.75% complete, delivery date expired March 31, 2023)
5. Ship Building Financial Assistance Policy income recognition (₹298 lakhs for Q1 FY27)
Asset Coverage:
- Property comprising 197.12 ares of land in Girinagar, Ernakulam
- Asset Coverage Ratio: 5.72 as on June 30, 2026