Cochin Shipyard has announced the date of its board meeting to approve its second-quarter financial results.

What Happened: The defence firm’s board will meet on November 7 to approve and declare the results of the quarter ended September. The company will also consider the declaration of an interim dividend.

The board of directors will also deliberate upon raising funds through the issuance of U.S. dollar-denominated non-convertible senior unsecured fixed-rate notes, the company said in its statement.

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Brokerage’s Estimates: Antique Broking expects the firm’s revenue to rise 5% year-on-year to ₹1,002 crore. On the other hand, net profit is expected to remain flat at ₹199 crore. The firm’s EBITDA is also estimated to remain flat YoY at ₹220 crore.

The defence sector is currently benefiting from a supportive environment, the brokerage said, driven by the government’s emphasis on defence indigenisation through the “Make in India” initiative. This focus has resulted in healthy ordering activity, with several large orders being finalised this year, helping companies strengthen their order books and prepare for FY25.

With a robust business outlook and record-high order books for most defence companies, execution is expected to improve and lead to increased profitability, Antique said about the sector. FY25 will see a normalisation of the supply chains–which were disrupted due to geopolitical situations– resulting in better revenue generation, it added regarding the sector.

Price Action: Shares of Cochin Shipyard ended 1.26% lower at ₹1,508 on Monday.

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