Analysts/Institutional Investor Meet/Con. Call Updates

SEC/48/2017-63 September 18, 2026 The Manager The Manager Compliance Department Compliance Department BSE Limited The National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Tower Exchange Plaza Dalal Street Bandra – Kurla Complex, Bandra (East) Mumbai – 400 001 Mumbai – 400 051 Scrip Code/Symbol: 540678/COCHINSHIP Dear Sir/ Madam, Subject: Transcript of Investor/ Analyst Conference Call to discuss the Performance and Business Updates 1. Further to our communication with respect to the investor/ analyst conference call to discuss the Company’s performance and business updates, please find attached herewith the transcript of the said conference call conducted on Thursday, September 10, 2026 at 02:00 P.M. 2. The above is for your information and record please. Thanking You, For Cochin Shipyard Limited “Cochin Shipyard Limited Investor Conference Call” September 10, 2026 MANAGEMENT: MR. JOSE V J – CHAIRMAN AND MANAGING DIRECTOR, AND DIRECTOR FINANCE – COCHIN SHIPYARD LIMITED DR. HARIKRISHNAN S – DIRECTOR (OPERATIONS) – COCHIN SHIPYARD LIMITED MR. RAJESH GOPALAKRISHNAN – DIRECTOR (TECHNICAL) – COCHIN SHIPYARD LIMITED MR. SHIRAZ V P – EXECUTIVE DIRECTOR (SHIP BUILDING) – COCHIN SHIPYARD LIMITED MR. SHIBU JOHN – CHIEF GENERAL MANAGER, FINANCE – COCHIN SHIPYARD LIMITED MR. SYAMKAMAL N – COMPANY SECRETARY – COCHIN SHIPYARD LIMITED MODERATOR: MS. SAKHI PANJIYARA – KIRIN ADVISORS Page 1 of 18 Cochin Shipyard Limited September 10, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Cochin Shipyard Limited Investor Conference Call hosted by Kirin Advisors Private Limited. This conference call may contain forward- looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Sakhi Panjiyara from Kirin Advisors. Thank you, and over to you, ma'am. Sakhi Panjiyara: Good day, everyone. On behalf of Kirin Advisors, I welcome you all to the investor conference call of Cochin Shipyard Limited. From management team, we have Shri Jose V J, Chairman and Managing Director, and Director (Finance); Dr. Harikrishnan S, Director (Operations); Shri Rajesh Gopalakrishnan, Director (Technical); Shri Shiraz V P, Executive Director (Ship Building); Shri Shibu John, Chief General Manager (Finance); Shri Syamkamal N, Company Secretary. Now, I hand over the call to Shri Jose V J for opening remarks. Over to you, sir. Jose V J: Yes. Good afternoon, everyone, and welcome to the Cochin Shipyard Limited investor con-call. I'm Jose V J, CMD, Cochin Shipyard Limited, and I'm joining today by Dr. Harikrishnan, Director (Operations); Shri Rajesh Gopalakrishnan, Director (Technical); Shri Shiraz V P, Executive Director (Ship Building); Shri Shibu John, Chief General Manager (Finance); and Shri Syamkamal, Company Secretary. Let me start by giving you a brief overview of our operational performance during FY27 so far. During the period, CSL delivered three vessels, including the third vessel in the series of eight Anti-Submarine Warfare Shallow Water Crafts being built for the Indian Navy; the second multipurpose vessel under the export order for our German client; the double-ended Ro-Ro ferry to Kochi Municipal Corporation. Our wholly owned subsidiary, Udupi Cochin Shipyard, also delivered three vessels during the period, including two 3,800 TDW general cargo vessels to Wilson Group, Norway, and a 70- tonne bollard pull tug to M/s. Polestar Maritime, an Adani Group company. Over to financial performance, let me now briefly touch upon the details. For the first quarter, our turnover stood at INR 1,094.21 crores, compared with INR 1,068.59 crores in the corresponding period last year. PBT was INR 202.49 crores, compared to INR 249.54 crores last year, while PAT stood at INR 151.45 crores, compared with INR 187.82 crores in the corresponding quarter. Our EBITDA margin for the quarter was around 24%, while PAT margin stood at around 14%. Page 2 of 18 Cochin Shipyard Limited September 10, 2026 Joint venture, details about the joint venture with Drydocks World, Dubai. Coming to future strategic initiatives, I would first like to update you on an important decision taken by Board of Directors at the meeting held yesterday. It has also been intimated to the stock exchanges. The Board has approved the proposal to form a joint venture with Drydocks World, Dubai, a DP World company, for owning, operating, and managing CSL's International Ship Repair Facility, ISRF, at Willingdon Island, Kochi. As you are aware, ISRF is a state-of-the-art ship repair facility developed by CSL over an area of around 30 hectares of land. The facility has a 6,000-ton ship lift and transfer system, six workstations, and around 1,400 meters of berthing space. It can handle vessels of up to 130 meters and has an annual throughput capacity of up to 82 ships. The proposed joint venture will have equal shareholding, with CSL and DDW holding 50% each. The JV will not only operate the existing ISRF, but also undertake capacity augmentation through the addition of 10 more workstations. From a strategic perspective, we believe this partnership brings together the complementary strengths of both the companies. CSL brings its established presence in the Indian maritime sector and its existing ISRF infrastructure, while DDW brings significant international experience, operational expertise, and a global customer network in ship repair. The partnership is expected to help us improve operational efficiency, adopt global best practices and advanced technologies, reduce turnaround time, and importantly, attract international customers to Kochi. We believe this will provide a strong platform for sailing up the ship repair business in Kochi. I would also like to highlight the transaction structure. The ISRF undertaking is proposed to be transferred to the JV company on a slump sale basis, as a going concern, for a consideration of INR 1,800 crores. CSL will receive 50% of the consideration in cash, while the balance 50% will be received in the form of equity in the shares of JV company. The valuation of INR 1,800 crores is based on an independent third party valuation. The definitive agreements, including the joint venture agreement, shareholders agreement, and business transfer agreement, and license agreement, have been finalized. The JV agreement will be signed tomorrow on the sidelines of the BRICS Summit at New Delhi, while other agreements will be signed after incorporation of JV and receipt of requisite approvals. There are certain regulatory and shareholder approvals required before the transaction can be completed. These include approval from the Ministry of Ports, Shipping and Waterways, DIPAM concurrence, and shareholders of CSL. In particular, shareholder approval is required for the proposed transfer of the ISRF undertaking. We will, therefore, be coming out with a postal ballot to seek the requisite approval of our shareholders. Subject to receipt of the necessary approvals, the transaction is targeted to be implemented before the end of the current financial year. Another important update I would like to share with investors is regarding the proposed Block Fabrication Facility at Kochi. As you may recall, CSL has signed an MoU with HD KSOE of Page 3 of 18 Cochin Shipyard Limited September 10, 2026 Korea for exploring various areas of cooperation, including setting up a Block Fabrication Facility at Vallarpadam, Kochi for utilization f [Showing first 8,000 characters — download PDF for full document]