Hardik
Order book as of Dec 2023 is Rs 21500 Crore
It is not only the order book which is important, it is the future earning potential for which market is giving high valuation-

(1) Atma Nirbhar Bharat- 100% future orders from Indian Navy, coast guard are coming to the 3 shipping companies namely Mazgaon , Garden reach , Cochin shipyards…
And as China is strengthening it’s Navy and we are 10 years behind China, our defence shipping companies seem to have a strong runaway for growth
(2)These shipping companies have signed master service contract with US Navy for repair and maintenance- india is surrounded by sea in its East and Western coasts and so alll kinds of ships have access where our shipping companies have Docks.
Cochin shipyards had already got orders from European clients.
(3) All of these companies are expanding and are also undertaking commercial business from Pvt shipping companies from india and abroad.
Every company is targeting exports business as well.

(4) Ship building , repair etc are labour intensive and India labour is cheap. So all advanced countries may be looking for India for outsourcing.

If you want quantification , I think screener data is updated up to Q3, 2024… you can get a flavour.

The recent article also gives an updated data for all 3 shipping companies

Discl; Invested in all the 3 shipping companies from lower level. May be biased. please do your own assessment before investing

Hi can anybody explain what does RFI/MidStage Order Pipeline of ₹84,000cr means? How soon do these potential orders go from RFI to RFP? Will Cochin have to bid for these projects i.e. are there other players looking to grab these orders as well?

Thank you.

Summary of confcall from mgmt in closing comments:

healthy orderbook pipeline including some big ticket items (QRSAM Fy25-26 etc), focus on high value products to help in margin expansion.

Disc: Invested