Shares of Cochin Shipyard ended 2% higher on Friday, October 9, when the defence PSU announced that its wholly owned subsidiary, Hooghly Cochin Shipyard Limited (Hooghly-CSL), had secured an order from Heritage River Journeys Private Limited to build two luxury river cruise vessels.
The order has been classified as “notable” by the company, placing its value in the ₹100 crore to ₹250 crore range, according to its exchange filing.
This is a repeat order from Heritage River Journeys, which had previously placed an order with Hooghly-CSL in June 2025. The two vessels are expected to be delivered by June 2029 and June 2030, respectively.
Cochin Shipyard said neither its promoters, promoter group, nor group companies have any interest in the entity awarding the contract. The order also does not fall under the purview of related-party transactions.
The order comes as India looks to strengthen its shipbuilding industry and attract overseas customers. Shipping Minister Sarbananda Sonowal said on Thursday that Cochin Shipyard had received orders to build more than 40 ships from countries including the United States, Germany and Norway.
“Most of the orders we are receiving for shipbuilding are for Cochin Shipyard Limited (CSL) from foreign countries like Germany, America, and Norway. So far, we have received orders for more than 40 ships,” Sonowal said, adding that the government was working to create a supportive ecosystem for shipbuilding.
A senior shipping ministry official said some Russian entities had also expressed interest in building ships in India in collaboration with domestic shipyards, including Cochin Shipyard.
The government has also been pursuing international partnerships in maritime infrastructure, shipbuilding and green shipping. At the third Sagarmanthan – The Ocean Dialogue, India held discussions with Saudi Arabia, Belgium and Bhutan on port investments, green shipping and regional connectivity. Belgium expressed willingness to work with India to promote shipbuilding.
Share of Cochin Shipyard ended 2.25% higher at ₹1,227 following the order win on Friday. The stock has fallen more than 24% since January this year and 31% over the last 12 months.
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