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Cochin Shipyard bags Navy vessel contract worth ₹5,000 croreThe company emerged the lowest bidder (L1) for a tender floated by India’s Ministry of Defence to build five Next Generation Survey Vessels (NGSVs) for the Indian Navy. The contract is worth about ₹5,000 crore.By CNBCTV18.com February 16, 2026, 6:30:20 PM IST (Published)1 Min ReadCochin Shipyard Ltd has emerged the lowest bidder for ₹5,000 crore Navy vessel contract as the shipbuilding and maintenance company was declared the lowest bidder (L1) for a tender floated by India’s Ministry of Defence to build five Next Generation Survey Vessels (NGSVs) for the Indian Navy.

The estimated total order value is about ₹5,000 crore, the company said in an exchange filing on Monday, February 16.

However, the company mentioned that the final award of the contract is subject to completion of necessary formalities. It added that the order does not involve any related party transactions and that its promoter group has no interest in the awarding entity.

Shares of Cochin Shipyard ended at ₹1469.40 apiece, 0.23% down for the day.

For the quarter ended December 31, the company's net profit declined 18.3% year-on-year to ₹144.6 crore, compared with ₹177 crore in the same period last year.

Revenue for the quarter rose 17.7% year-on-year to ₹1,350.4 crore, reflecting steady execution across projects. However, EBITDA fell 21.5% to ₹186.6 crore from ₹237.6 crore a year earlier, leading to a sharp contraction in operating margin to 13.8% from 20.7%.

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