DOCSLIB.ORG

Cochin Shipyard (CSL) Posted Dismal Q2FY21 Numbers As Travel Restrictions Led to Unavailability of Service Engineers for Trials

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Cochin Shipyard (CSL) Posted Dismal Q2FY21 Numbers As Travel Restrictions Led to Unavailability of Service Engineers for Trials CochinHO Shipyard (COCSHI) CMP: | 358 Target: | 435 (22% ) Target Period: 12-18 months BUY months November 24, 2020 Travel restrictions delay trials, execution impacted… Cochin Shipyard (CSL) posted dismal Q2FY21 numbers as travel restrictions led to unavailability of service engineers for trials. Overall margins were diluted on account of below par execution leading to negative operating leverage. Revenue for the quarter was at | 657.4 crore, down 32% YoY. Particulars Shipbuilding (SB) revenue fell 28.5% YoY to | 563.5 crore while shiprepair Particu lar Am o u n t (SR) segment contracted 14.3% YoY to | 93.8 crore in the quarter. On a Market Capitaliz ation* | 4472 Crore segmental profitability front, SB reported EBIT of | 122.5 crore whereas SR Total Debt (FY 20) | 123 Crore clocked an EBIT of | 25.68 crore. SB, SR segments contributed 85.7%, 14.3% Cash & Inv (FY 20) | 2176 crore Result Update Result to the topline, respectively. Although gross margins expanded ~335 bps EV (FY 20) | 2419 Crore largely on account of lower sub-contracting charges, negative operating Equity capital** | 131.5 Crore leverage led EBIDTA margin to contract ~200 bps YoY. Hence, EBIDTA Face value | 10 declined 39% YoY to | 125.8 crore, down 39% YoY. Ensuing PAT was at | 108.4 crore, down 48% YoY (vs. I-direct estimate of | 144.5 crore). For Price chart H1FY21, CSL generated CFO of | 1399.5 crore. High CFO generation was largely due to improved working capital. 700 12000 600 10000 IAC to go for basin trial on November 27… 500 8000 400 6000 300 Long expected IAC basin trials are on November 27 whereas delivery for the 4000 same is expected by December 2021. If things fall in place, as they should, 200 100 2000 we expect FY22E to be amplified on account of IAC execution. This should 0 0 aid management to reach their topline target of | 4000 crore. In the quarter, IAC execution was | 491 crore (cost plus | 283 crore, fixed price | 207 crore). Jul-18 Jul-19 Jul-20 Mar-18 Mar-19 Mar-20 Nov-17 Nov-18 Nov-19 Nov-20 Also, Phase 3 order book of IAC was at | 2244 crore. Cochin Shipyard New facilities, order pipeline to aid SB & SR in FY22E... NSE500 Index TEBMA & Hooghly CSL are expected to come online early next year opening Key Highlights up more avenues for SB, SR of smaller vessels. Further, we expect ISRF to Execution delay led by travel be operational in Q4FY22. Thus, CSL has ample capacity for execution but a restrictions led to unavailability of key monitorable would be the inflow of ship repair orders as the order book service engineers of ~| 500 crore provides visibility for less than a year. On the ship building Research Equity Retail order front, the management has shared prospects worth | 16000 crore from Management revises FY21E guidance – the Indian Navy & Coast Guard. Hence, taking cognisance of the above from | 3400 crore to | 3000 crore variables, we estimate CSL to post revenue CAGR of 8.8% in FY20-22E. Solid order book at | 13862 crore Valuation & Outlook Maintain BUY with revised target CSL continues to be one of the top-tier shipyards in the country with ample price of | 435/share capacity, capability & the orderbook to support it. Recent tie-up with Research Analyst Securities ICICI Fincantieri would help CSL gain technological inputs, design support & collaboration in high end/new gen defence vessels. Further, a solid order Chirag Shah book of | 13862 crore, healthy cash balance of | 1400 crore (ex-advances) [email protected] and robust order pipeline provides growth visibility for the company. A Adil Khan growing company, with high dividend pay-out & debt free b/s makes CSL an [email protected] attractive bet trading at 7.4x FY22E EPS. We maintain our BUY rating on the stock. We value CSL at 9x FY22E EPS and revise our target price to | 435. Key Financial Summary s s (| cro re ) FY18 FY19 FY20 FY21E FY22E CAGR (FY20-22E) Revenues 2 ,355 2 ,962 3 ,422 2 ,985 4 ,048 8 .8 EBITDA 464 569 709 546 798 6 .0 EBITDA margins 1 9.7 1 9.2 2 0.7 1 8.3 1 9.7 Net Profit 396 478 638 435 636 ( 0.1) EPS (|) 2 9.2 3 6.3 4 8.5 3 3.1 4 8.4 P/E (x) 1 2.3 9 .9 7 .4 1 0.8 7 .4 Price / Book (x) 1 .5 1 .4 1 .3 1 .2 1 .1 EV/EBITDA (x) 3 .2 4 .0 3 .7 6 .7 5 .3 RoCE (% ) 1 3.4 1 9.0 1 7.6 1 2.8 1 5.9 RoE (% ) 1 2.2 1 4.5 1 7.1 1 1.1 1 4.7 s Source: Company, ICICI Direct Research Result Update | Cochin Shipyard ICICI Direct Research EESes Exhibit 1: Variance analysis Q 2FY21 Q 2FY20 Yo Y (%) Q 1FY20 Q o Q (%) Shipbuilding and shiprepair segment contributed 85.7% Revenue 657.4 971.2 -32.3 735.4 -10.6 and 14.3% , respectively Other Income 45.3 80.1 -43.4 67.9 -33.3 Total Revenue 702.7 1051.3 -33.2 803.4 -12.5 Total Raw Material Costs 401.4 625.8 -35.9 488.8 -17.9 Decline in sub-contracting charges aided gross margins Employee Expenses 70.9 73.9 -4.1 70.4 0.8 Other expenses 36.8 39.9 -7.9 32.7 12.5 Provision for losses & exp. 22.5 25.9 -13.0 1.9 1097.3 Operating Profit (EBITDA) 125.8 205.7 -38.8 141.7 -11.3 EBITDA margin (% ) 19.1% 21.2% -204 bps 19.3% -14 bps Negative operating leverage impacted performance Interest 11.4 11.1 2.3 11.1 2.6 Depreciation 13.7 12.1 12.9 12.1 13.0 Total Tax 37.7 55.0 -31.4 66.2 -43.1 PA T 108.4 207.6 -47.8 120.3 -9.9 Key Metrics Q 2FY21 Q 2FY20 Yo Y (%) Q 1FY20 Q o Q (%) Revenue (Segment-wise) Shipbuilding 563.5 788.0 -28.5 602.1 -6.4 As a % of Sales 85.7% 81.1% 81.9% Shiprepair 93.8 183.2 -48.8 133.4 -29.6 As a % of Sales 14.3% 18.9% 18.1% EBIT (Segment-wise) Shipbuilding 122.5 175.2 -30.0 101.2 21.1 EBIT Margins(% ) 21.7% 22.2% 16.8% As a % of EBIT 77.8% 64.0% 51.2% Shiprepair 25.7 56.9 -54.8 41.2 -37.7 EBIT Margins (% ) 27.4% 31.1% 30.9% As a % of EBIT 16.3% 20.8% 20.9% Source: Company, ICICI Direct Research Exhibit 2: Change in estimates FY19 FY20 FY21E FY22E (| Crore) A ctual A ctual O ld New % Change O ld New % Change Revenue 2962.2 3422.5 3284.7 2984.7 -9.1 3997.9 4048.3 1.3 EBITDA 569.2 709.3 601.1 546.2 -9.1 739.6 797.5 7.8 EBITDA Margin (% ) 19.2 20.7 18.3 18.3 0 bps 18.5 19.7 120 bps PA T 477.8 637.7 470.8 434.8 -7.7 580.8 636.4 9.6 EPS (|) 36.3 48.5 35.8 33.1 -7.7 44.2 48.4 9.6 Source: Company, ICICI Direct Research ICICI Securities | Retail Research 2 Result Update | Cochin Shipyard ICICI Direct Research Conference call takeaways – Q2FY21 CSL’s order backlog at | 13,862 crore Exhibit 3: CSL’s order book Total No of Sr.No . Current order book Balance orders V e s s e ls 1 Order from Indian Navy (IAC & ASW Corvette) 1 12062 2 Orders from GOI, MOS 4 555 3 Orders from GOI,MOD &MHA 10 308 4 Small passenger ferry (KMRL) & Others 30 437 5 Ship repair orders 500 To tal 13862 Source: Company, ICICI Direct Research Travel restrictions hindered final trials of vessels as service engineers were unavailable Revised guidance for FY21E revenues from | 3400 crore to | 3000 crore Ship repair revenue to double in three years Received ~ | 1500 crore from Indian Navy in the last quarter Revenue booked in Q2FY21 in ship building | 564 crore IAC 491 crore (cost plus | 283 crore, fixed price | 207 crore) Other 73 crore Target | 500-520 crore revenue from ship repair segment for FY21E Order pipeline Eight fast patrol vessels – Coast Guard Total 12 air cushion vessels – Coast Guard Six New Gen Missiles – Indian Navy Two multi-purpose vessels – Indian Navy Three Cadet Training vessels – Indian Navy Total pipeline worth | 16000 crore Capex guidance FY21: ISRF | 143 crore Dry Dock | 201 crore FY22: ISRF | 130 crore Dry Dock | 200 crore Tebma Shipyard: | 5 crore in FY21 and | 10 crore in FY22 ICICI Securities | Retail Research 3 Result Update | Cochin Shipyard ICICI Direct Research Major expansion update New large dry dock Dock: 310m x 75/60m x 13m and other allied facilities Estimate: | 1799 crore Target completion: December 2022 Construction of complex, technology intensive large vessels like LNG carriers, offshore drill ships, aircraft carriers, offshore rigs, semi-submersibles, etc Cumulative expenditure till date is | 585 crore Status Overall physical completion – 35% Labour shortage, disruption in material supply chains have severely affected execution Construction contractor, crane manufacturer, project management consultant, etc, had already intimated Force Majeure due to Covid- 19 Projected date of commissioning is targeted by December 31, 2022 International ship repair facility (ISRF) Ship lift: 130 m x 25 m x 6000 T with six workstations Estimate: | 970 crore Target completion: December 2021 Cumulative expenditure till date is | 466 crore Status Overall physical completion 73% Repair of 80 additional vessels a year.
Load more

Recommended publications
  • Economic and Social Issues of Biodiversity Loss in Cochin Backwaters
    Economic and Social Issues of Biodiversity Loss In Cochin Backwaters BY DR.K T THOMSON READER SCHOOL OF INDUSTRIAL FISHERIES COCHIN UNIVERSITY OF SCIENCE AND TECHNOLOGY COCHIN 680 016 [email protected] To 1 The Kerala research Programme on local level development Centre for development studies, Trivandrum This study was carried out at the School of Industrial Fisheries, Cochin University of Science and Technology, Cochin during the period 19991999--2001 with financial support from the Kerala Research Programme on Local Level Development, Centre for Development Studies, Trivandrum. Principal investigator: Dr. K. T. Thomson Research fellows: Ms Deepa Joy Mrs. Susan Abraham 2 Chapter 1 Introduction 1.1 Introduction 1.2 The specific objectives of our study are 1.3 Conceptual framework and analytical methods 1.4 Scope of the study 1.5 Sources of data and modes of data collection 1.6 Limitations of the study Annexure 1.1 List of major estuaries in Kerala Annexure 1.2 Stakeholders in the Cochin backwaters Chapter 2 Species Diversity And Ecosystem Functions Of Cochin Backwaters 2.1 Factors influencing productivity of backwaters 2.1.1 Physical conditions of water 2.1.2 Chemical conditions of water 2.2 Major phytoplankton species available in Cochin backwaters 2.2.1 Distribution of benthic fauna in Cochin backwaters 2.2.2 Diversity of mangroves in Cochin backwaters 2.2.3 Fish and shellfish diversity 2.3 Diversity of ecological services and functions of Cochin backwaters 2.4 Summary and conclusions Chapter 3 Resource users of Cochin backwaters 3.1 Ecosystem communities of Kochi kayal 3.2 Distribution of population 3.1.1 Cultivators and agricultural labourers.
    [Show full text]
  • Ministry of Shipping
    Report No. 13 of 2019 Hindustandesh CHAPTER IX: MINISTRY OF SHIPPING Cochin Shipyard Limited 9.1 Improper estimate in quoting prices for construction of double-ended Ro-Ro Ferry vessels Cochin Shipyard Limited incurred a loss of ```7.83 crore due to fixing of low contract price for the Ro-Ro Ferry vessels built for Kochi Municipal Corporation. Kochi Municipal Corporation (KMC) invited (9 December 2014) a Detailed Project Report (DPR) from Cochin Shipyard Limited (CSL) for the construction of two Double Ended Ro-Ro 1 Ferry vessels required for operation between Fort Kochi and Vypeen Island. CSL submitted (18 December 2014) the DPR along with its offer for construction of vessels at a price of `7.60 crore ( `3.80 crore each) on non-profit basis. The offer was accepted by KMC and a contract was entered between KMC and CSL on 2 March 2015. Construction of both the vessels was completed (January 2017 & February 2017) after a delay of 169 days & 109 days respectively from the contractual date of delivery (July 2016 & October 2016). The vessels were delivered on 27 April 2018. Audit observed that against the estimated cost and contract price of `7.60 crore, CSL incurred a total cost of `15.43 crore for construction of both the vessels whereas it recovered only `7.60 crore as against the total cost. No claim was preferred by CSL to recover the balance amount of `7.83 crore. Thus, wrong estimate had resulted in loss of revenue of `7.83 crore. The Management replied (September 2018) that during the progress of the project, some additional features were made for improving the overall quality/reliability of the vessels.
    [Show full text]
  • Department of Industries & Commerce District
    Industrial Potential Survey of Ernakulam District GOVERNMENT OF KERALA DEPARTMENT OF INDUSTRIES & COMMERCE DISTRICT INDUSTRIES CENTRE ERNAKULAM POTENTIAL SURVEY REPORT FOR MSME SECTOR Prepared and Published by DISTRICT INDUSTRIES CENTRE KUNNUMPURAM CIVIL STATION ROAD,KAKKANAD,ERNAKULAM PH: 0484-2421432,2421461,FAX – 0484 2421461 E mail- [email protected], [email protected] Web site: www.dic.kerala.gov.in 1 Prepared & Submitted by District Industries Centre,Ernakulam Industrial Potential Survey of Ernakulam District PREFACE An Industrial Potential Survey of Ernakulam District, the industrial capital of Kerala, definitely will be a reflection of the State as a whole. The report is prepared mostly on the basis of available information in different sectors. The survey report reveals the existing industrial scenario of the district and it mainly aims to unveil the potentially disused areas of the industry in Ernakulam. We hope this document will provide guidance for those who need to identify various potential sources/ sectors of industry and thereby can contribute industrial development of the district, and the state. I hereby acknowledge the services rendered by all Managers, Assistant District Industries Officers , Industries Extension Officers ,Statistical Wing and other officers of this office ,for their sincere effort and whole hearted co- operation to make this venture a success within the stipulated time. I am grateful to all the officers of other departments who contributed valuable suggestions and information to prepare this report. General Manager, District Industries Centre, Ernakulam. 2 Prepared & Submitted by District Industries Centre,Ernakulam Industrial Potential Survey of Ernakulam District INDEX Contents Page No Scope & Objectives Methodology Chapter I District at a glance 1.1 Introduction 1.2 Location and extent 1.3 District at a glance 2.
    [Show full text]
  • Kerala Sustainable Urban Development Project
    Government of Kerala Local Self Government Department Kerala Sustainable Urban Development Project (PPTA 4106 – IND) FINAL REPORT VOLUME 2 - CITY REPORT KOCHI MAY 2005 COPYRIGHT: The concepts and information contained in this document are the property of ADB & Government of Kerala. Use or copying of this document in whole or in part without the written permission of either ADB or Government of Kerala constitutes an infringement of copyright. TA 4106 –IND: Kerala Sustainable Urban Development Project Project Preparation FINAL REPORT VOLUME 2 – CITY REPORT KOCHI Contents 1. BACKGROUND AND SCOPE 1 1.1 Introduction 1 1.2 Project Goal and Objectives 1 1.3 Study Outputs 1 1.4 Scope of the Report 1 2. CITY CONTEXT 2 2.1 Geography and Climate 2 2.2 Population Trends and Urbanization 2 2.3 Economic Development 2 2.3.1 Sectoral Growth 2 2.3.2 Industrial Development 6 2.3.3 Tourism Growth and Potential 6 2.3.4 Growth Trends and Projections 7 3. SOCIO-ECONOMIC PROFILE 8 3.1 Introduction 8 3.2 Household Profile 8 3.2.1 Employment 9 3.2.2 Income and Expenditure 9 3.2.3 Land and Housing 10 3.2.4 Social Capital 10 3.2.5 Health 10 3.2.6 Education 11 3.3 Access to Services 11 3.3.1 Water Supply 11 3.3.2 Sanitation 11 3.3.3 Urban Drainage 12 3.3.4 Solid Waste Disposal 12 3.3.5 Roads, Street Lighting & Access to Public Transport 12 4. POVERTY AND VULNERABILITY 13 4.1 Overview 13 4.1.1 Employment 14 4.1.2 Financial Capital 14 4.1.3 Poverty Alleviation in Kochi 14 5.
    [Show full text]
  • Siemens to Equip India's First Fleet of Electric Boats with Zero Emission
    Press Mumbai, December 14, 2020 Siemens to equip India’s first fleet of electric boats with zero emission • Electric propulsion drive train and automation technologies for safe, cost saving and reliable operation of vessels • Energy Storage to help ensure continuity of power while maximizing performance and ensuring zero carbon emissions India’s largest and most advanced shipbuilder Cochin Shipyard Ltd. selected Siemens to implement advanced marine solutions for India’s first fleet of 23 boats equipped with electric propulsion and battery integrated technology. Siemens will equip the boats with electric propulsion drive train, energy storage integration (battery) and vessel automation technologies for the boats that Cochin Shipyard Ltd. is building to strengthen Kochi Metro Rail’s last mile connectivity for islands around Kochi. The Electric propulsion drive train systems will reduce fuel requirements, increase maneuverability, minimize environmental risks and make boats comfortable with their modular design. The energy storage systems help in reliable, uninterrupted supply of power to maximize performance and ensures zero carbon emissions. In addition, the ferries will also be equipped with automation systems for safe, cost saving and reliable operation of the vessels. Mr. Madhu S Nair Chairman and Managing Director of Cochin Shipyard Ltd, said, “Pleased to partner with Siemens, a leading global technology leader in energy and automation solutions. The advanced marine solutions coupled with automation technologies will improve safety, help us monitor critical functions and result in higher operational efficiencies and productivity. The project is a first of a kind showcase for inland waterways in India. The technologies will also ensure zero carbon emissions placing high priorities on environment conservation.
    [Show full text]
  • Reported Move to Privatise Cochin Shipyard by the Government of India
    > Title: Reported move to privatise Cochin Shipyard by the Government of India . ADV. SURESH KURUP (KOTTAYAM): Sir, Cochin Shipyard is the most important public sector undertaking in Kerala. There is a history behind the establishment of Cochin Shipyard in Kerala. During the sixties a big agitation was there under the leadership of late Comrade A.K. Gopalan in which almost all political parties participated and the Central Government was forced to establish this undertaking in Kerala. During the period of the last Government, there was a move to privatize the Cochin Shipyard. All the trade unions and all the political parties in Kerala participated in an agitation and at last that Government was forced to withdraw that move. Now, all of a sudden the Central Government has announced its intention to disinvest the Cochin Shipyard. This Government has no right to do that. This lame duck Government, which is already in the limbo, has no moral right to take such a decision on the eve of the election. So, I would request the Government to withdraw this move and not to disinvest this profit-making public sector undertaking. This is the sentiment of Kerala. I again and again would request the Government to announce that they have no intention to privatize the Cochin Shipyard. ...(Interruptions) MR. CHAIRMAN: All those hon. Members who want to associate with Shri Suresh Kurup, they may send slips. All of them can be accommodated. ...(Interruptions) MR. CHAIRMAN: Shrimati P. Satheedevi, Dr. K.S. Manoj, Shri N.N. Krishnadas, Shrimat C.S. Sujatha and Shri K.
    [Show full text]
  • Kochi Metro Which Is Being Formulated by DMRC Also Should Be Taken Up
    CITY MOBILITY PLAN - KOCHI 1. INTRODUCTION 1.1 GENERAL Kochi, the largest agglomeration in the state of Kerala is the nerve centre of all commercial activities in Kerala. One of the major ports in the country Kochi is blessed with connection with other parts of the country through all modes of transport like road, rail, air and water. NH 17, NH 47, and NH 49 pass through Kochi. Kochi port is located on strategic International route. Broad gauge railway lines link up Kochi to all major cities of the country. Kochi has got one of the three international airports in the state. In addition to all these the regional road linkages are supplemented by an extensive network of navigation routes through the lagoon system, serving the movement of passenger and cargo. Insufficient carrying capacity of the intra-urban and sub urban routes, unhindered development of vast areas as urban extensions due to urbanization, unscientific planning in urban infrastructure development , absence of proper linkage of various forms of transportation etc. have resulted in an inadequate mobility system in the city and suburbs. As part of the comprehensive development of the city an efficient mobility plan has to be formulated. 1.2 STUDY AREA It was only in the beginning of the 19th century that Kochi , which was situated with in the narrow strip of land sandwiched between backwaters and sea outgrew to Ernakulam in the eastern side of the back waters. The narrow streets of Fort Kochi and Mattancherry were not sufficient to take up the travel demand even at that time.
    [Show full text]
  • Press Release Cochin Shipyard Limited
    Press Release Cochin Shipyard Limited March 30, 2021 Ratings Amount Facilities/Instruments Ratings Rating Action (Rs. crore) 2,280.00 CARE AAA; Stable Revised from CARE AA+; Stable Long-Term Bank Facilities (Enhanced from 2,050.00) (Triple A; Outlook: Stable) (Double A Plus; Outlook: Stable) CARE AAA; Stable / CARE A1+ Revised from CARE AA+; Stable / Long-Term / Short Term 2,405.00 (Triple A; Outlook: Stable / CARE A1+ (Double A Plus; Bank Facilities (Reduced from 2,535.00) A One Plus) Outlook: Stable / A One Plus) CARE A1+ Short-Term Bank Facilities 250.00 Reaffirmed (A One Plus) Short-Term Bank Facilities - - Withdrawn 4,935.00 (Rs. Four Thousand Nine Total Bank Facilities Hundred Thirty-Five Crore Only) CARE AAA; Stable Revised from CARE AA+; Stable Long-Term Bond Issue - I 100.00 (Triple A; Outlook: Stable) (Double A Plus; Outlook: Stable) CARE AAA; Stable Revised from CARE AA+; Stable Long-Term bond Issue - II 150.00 (Triple A; Outlook: Stable) (Double A Plus; Outlook: Stable) 250.00 Total Long-Term (Rs. Two Hundred Fifty Instruments Crore Only) Details of facilities in Annexure-1 Detailed Rationale & Key Rating Drivers The revision in the long-term rating assigned to bank facilities and instruments of Cochin Shipyard Ltd (CSL) takes into account the strong growth in order book position over the last three years ended February 2021 providing revenue visibility for the medium term. Present order book including L1 orders translating to 6.4 times of FY20 total income providing strong revenue visibility. The ratings continue to factor in its well-established operations and long-standing track-record of around four decades of CSL in the industry, majority ownership by Government of India (GoI) (72.86% stake as on December 31, 2020), CSL’s strong financial position, diversified revenue stream and the potential for CSL to acquire strategic importance on completion of the Indigenous Aircraft Carrier (IAC) project.
    [Show full text]
  • DPG INDO-PACIFIC MONITOR Volume II, Issue 8 August 2021
    Volume II, Issue 8 | August 2021 DPG INDO-PACIFIC MONITOR Volume II, Issue 8 August 2021 ABOUT US Founded in 1994, the Delhi Policy Group (DPG) is among India’s oldest think tanks with its primary focus on strategic and international issues of critical national interest. DPG is a non-partisan institution and is independently funded by a non-profit Trust. Over past decades, DPG has established itself in both domestic and international circles and is widely recognised today among the top security think tanks of India and of Asia’s major powers. Since 2016, in keeping with India’s increasing global profile, DPG has expanded its focus areas to include India’s regional and global role and its policies in the Indo-Pacific. In a realist environment, DPG remains mindful of the need to align India’s ambitions with matching strategies and capabilities, from diplomatic initiatives to security policy and military modernisation. At a time of disruptive change in the global order, DPG aims to deliver research based, relevant, reliable and realist policy perspectives to an actively engaged public, both at home and abroad. DPG is deeply committed to the growth of India’s national power and purpose, the security and prosperity of the people of India and India’s contributions to the global public good. We remain firmly anchored within these foundational principles which have defined DPG since its inception. DPG INDO-PACIFIC MONITOR This publication is a monthly analytical survey of developments and policy trends that impact India’s interests and define its challenges across the extended Indo-Pacific maritime space, which has become the primary theatre of global geopolitical contestation.
    [Show full text]
  • KITCO Ltd Femith's, PB No.4407 Puthiya Road, NH Bypass, Vennala Cochin-682 028, Kerala, India Letter No
    KITCO Ltd Femith's, PB No.4407 Puthiya Road, NH Bypass, Vennala Cochin-682 028, Kerala, India Letter No. 2993:BP:SM:2019 dt 19 Jul 19 INVITATION OF EXPRESSION OF INTEREST (EOI) FOR EMPANELMENT OF FIRMS/INDIVIDUALS AS CONSULTANTS/ADVISORS/ASSOCIATES Introduction 1. KITCO Ltd, established in 1972, is a union government company with 47 years of experience. It is a multi-disciplinary, multi-dimensional organisation offering consultancy services from concept to commissioning in architectural, engineering, technical, management and financial sectors. The spectrum of services includes Techno Economic Feasibility Studies, Detailed Project Reports, Project Consultancy, Master planning, Detailed Design and Engineering, Contract Management, Project Management Consultancy (PMC), Environmental Engineering Studies, Asset Valuation, Facility Management Services, Fund Facilitation, Project Appraisal, Corporate Debt Restructuring (CDR), Transaction Advisory, Recruitment, Training & Development etc. It has immense experience in preparing DPRs for 3500 projects and extending consultancy services for over 1000 projects for Airports, Ports, Mobility Hubs, Roads, Bridges, Highways, Urban Infrastructure, Water & Waste Water, Tourism, Leisure, Sports, Manufacturing Facilities, Industrial Parks, Medical Colleges, Super Speciality Hospitals, Educational Institutions, Defence Production Establishments, Shipyards, Marina etc. We have a competent team of more than 250 well qualified and experienced professionals in various branches of Engineering, Architecture, Environmental
    [Show full text]
  • 1 State Bank of India 2 State Bank of India 3 State Bank of India 4 State Bank of India 5 State Bank of India 6 State Bank of In
    Sl.No Bank Name Branch name Urban /S.Urban/ IFSC CODE Rural 1 State Bank of India ALINCHUVADU URBAN SBIN0070899 2 State Bank of India ALUVA- CATHOLIC CENTRE semi urban SBIN0070147 3 State Bank of India ALUVA(KERALA) semi urban SBIN0007016 4 State Bank of India ALWAYE TOWN semi urban SBIN0008590 5 State Bank of India AMBALAMEDU KOCHI RURAL SBIN0001108 6 State Bank of India ANGAMALI TOWN semi urban SBIN0008591 7 State Bank of India ANGAMALLY semi urban SBIN0070157 8 State Bank of India APPOLO JUNCTION KALAMASSERI semi urban SBIN0010110 9 State Bank of India ASOKAPURAM semi urban SBIN0008596 10 State Bank of India ASTER MEDCITY semi urban SBIN0071189 11 State Bank of India ATHANI semi urban SBIN0070789 12 State Bank of India AVOLY semi urban SBIN0008687 13 State Bank of India AYAVANA semi urban SBIN0008597 14 State Bank of India AYYAMPUZHA semi urban SBIN0009761 15 State Bank of India AYYAPPANKAVU URBAN SBIN0016330 BANERJI ROAD BRANCH 16 State Bank of India ERNAKULAM URBAN SBIN0060181 17 State Bank of India BYPASS ERNAKULAM URBAN SBIN0070457 CENTRE FOR ENGI.STUDIES 18 State Bank of India KUSAT URBAN SBIN0010559 19 State Bank of India CEPZ KAKKANAD URBAN SBIN0009485 20 State Bank of India CHAKKARAPARAMBU URBAN SBIN0016072 21 State Bank of India CHELAD semi urban SBIN0070537 22 State Bank of India CHERAI semi urban SBIN0008604 23 State Bank of India CHERIAPILLY RURAL SBIN0008605 24 State Bank of India CHILAVANNUR URBAN SBIN0016331 25 State Bank of India CHITTOOR ROAD URBAN SBIN0071129 26 State Bank of India CHOTTANIKARA RURAL SBIN0011917 27
    [Show full text]
  • Citizen's Charter of Cochin Shipyard
    Your text here Contents 1 HISTORICAL BACKGROUND........................................................................................................... 1 2 INCORPORATION: ......................................................................................................................... 1 3 CORPORATE STATUS ..................................................................................................................... 1 4 REGISTERED OFFICE ...................................................................................................................... 1 5 BUSINESS SEGMENTS AND ORGANIZATION ................................................................................. 2 Business Segments: ...................................................................................................................... 2 Organization: ................................................................................................................................ 2 Organisational Structure:.............................................................................................................. 2 Functions of various department ................................................................................................. 3 6 THE CHIEF EXECUTIVE AND HEADS OF DEPARTMENTS ................................................................ 5 7 VISION / MISSION AND OBJECTIVES ............................................................................................. 7 8 FINANCIAL PERFORMANCE: .........................................................................................................
    [Show full text]