Cochin Shipyard, which recently raised funds from the equity markets for augmenting its capacity and increasing working capital requirements, reported a modest 5% growth in sales in the quarter ended December 2017.

Lower growth was largely on account of the execution of one major project relating to Vikramaditya worth about Rs 230 crore in corresponding quarter last year.  Nevertheless, growth was still better given the base effect.

What is worth noting is that the part of this slow growth in the shipbuilding business was compensated by the high margin ship repair business, which grew at a relatively higher pace as a result of huge order book.

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