Cochin Shipyard Limited (CSL) has signed a contract with Oil and Natural Gas Corporation (ONGC) worth around ₹200 crore for dry dock and major lay-up repairs of one of ONGC’s jack-up rigs. The project is expected to be completed within 12 months.
The company clarified that the order does not constitute a related-party transaction and confirmed that none of its promoter group companies have any interest in ONGC.
Strong Q1 Performance
Earlier, on August 12, 2025, CSL reported a strong set of numbers for the quarter ended June 2025:
- Net Profit: ₹187.8 crore, up 7.9% YoY from ₹174 crore.
- Revenue: ₹1,068 crore, up 38.5% YoY from ₹771.5 crore.
- EBITDA: ₹241.3 crore, up 35.7% YoY from ₹177.8 crore.
- EBITDA Margin: Slightly lower at 22.5%, compared to 23% last year.
Key Takeaway
The ONGC contract adds to CSL’s growing order book, strengthening its position in India’s ship repair and maintenance space. The deal also comes on the back of a solid quarterly performance, underlining CSL’s operational momentum.
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