In a regulatory filing with the BSE, Cochin Shipyard said it has been declared L1 for a tender issued by the Ministry of Defence to construct five Next Generation Survey Vessels (NGSVs) for the Indian Navy.
The proposed contract, estimated at around Rs 5,000 crore, represents a major potential order for the state-owned shipbuilder. The announcement follows a meeting held at the Ministry of Defence in New Delhi.
However, Cochin Shipyard clarified that the formal award of the contract is subject to the completion of procedural formalities. The company said it will provide further updates once the process is concluded.
It also stated that neither its promoters nor promoter group entities have any stake in the awarding authority, and the proposed deal does not qualify as a related party transaction.
On Monday, Cochin Shipyard shares closed 0.24% lower at Rs 1,469.40 on the NSE.
Trendlyne data shows the stock’s 14-day Relative Strength Index (RSI) at 39.7. While readings below 30 typically indicate oversold levels and above 70 suggest overbought conditions, the current level points to weakening momentum without entering oversold territory.The stock is also trading below all eight of its simple moving averages (SMAs), indicating a bearish trend in the short to medium term.
In its December 2025 quarter results, Cochin Shipyard reported revenue of Rs 1,422 crore, reflecting a 19% year-on-year increase. Net profit for the quarter stood at Rs 145 crore, down 18.3% compared to the same period last year.
On the shareholding front, foreign portfolio investors (FPIs) reduced their stake from 3.22% to 2.74% during the December 2025 quarter, while mutual funds marginally raised their holdings from 2.42% to 2.47%.
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