Mumbai: Cochin Shipyard Limited (CSL) has secured a defence contract worth approximately Rs 500 crore from the Ministry of Defence (MoD) for the normal refit and re-powering of an Indian naval vessel.
The state-owned shipbuilding company signed the agreement on Wednesday, November 11, 2026, according to its regulatory filing with the stock exchanges.
The project is expected to be completed within approximately two years, marking another assignment for the company in the defence ship maintenance segment.
Rs 500 Crore Contract
According to the exchange filing, the contract involves normal refit and re-powering work on an Indian naval vessel.
The estimated value of the agreement stands at Rs 500 crore, while the execution period is approximately 24 months.
The refit process generally involves inspection, maintenance, repairs and replacement of equipment to maintain a vessel's operational capabilities.
Re-powering typically includes work on propulsion systems to improve or restore the vessel's performance and operational reliability.
However, the company has not disclosed the vessel's identity, specific technical requirements or detailed scope of the project.
Defence Ministry Agreement
Cochin Shipyard confirmed that the agreement was signed directly with the Ministry of Defence, Government of India.
The company also clarified that none of its promoters, promoter group entities or group companies has any interest in the organisation awarding the contract.
Furthermore, the transaction does not fall under the category of related-party transactions.
Project Execution
The latest contract provides Cochin Shipyard with an additional defence-related assignment extending over approximately two years.
The project involves servicing an existing naval vessel rather than constructing a new ship.
However, the filing does not specify the commencement date, payment schedule or expected revenue recognition from the contract.
The company disclosed the development to both the BSE and National Stock Exchange under its regulatory reporting obligations.
Disclaimer: This article is based on the company's exchange filing and is intended for informational purposes only, not investment advice.
Level up your brain the fun way. Play daily games and quizzes on FPJ Smart!
