Cochin Shipyard has incorporated a joint venture company, Green Maritime Propulsion Private Limited, with HBL Engineering Limited to develop electric mobility technology and energy storage solutions in the maritime sector. The joint venture company was incorporated on June 11, 2026, with a registered office in Hyderabad, Telangana. This strategic move aims to leverage the complementary strengths of both entities to develop indigenous capabilities for domestic and global markets, aligning with the Government of India's vision of Aatmanirbhar Bharat.

Joint Venture Structure

Green Maritime Propulsion Private Limited has an initial share capital of ₹9 crore divided into 90 lakh equity shares of face value ₹10 each. Cochin Shipyard has subscribed to 36 lakh equity shares at ₹3.60 crore, representing a 40% ownership stake. HBL Engineering Limited has subscribed to the remaining 54 lakh equity shares at ₹5.40 crore, representing a 60% stake in the joint venture. The shares have been subscribed at face value by both parties.

Strategic Objectives and Approvals

The joint venture focuses on Maritime Electric Mobility and Energy Storage Technology. It aims to capitalize on the growing adoption of electric and hybrid propulsion systems in the maritime space. The collaboration is intended to benefit both companies by addressing emerging trends in sustainable maritime technologies in India and globally. As a Government of India Company, Cochin Shipyard obtained the required concurrence from the Ministry of Ports, Shipping and Waterways (MoPSW) and the Department of Investment and Public Asset Management (DIPAM) for this venture.

Cochin Shipyard Limited has extended the additional charge of the post of Chairman & Managing Director to Shri Jose V J, Director (Finance), for a period of three months effective May 01, 2026. The extension was approved by the Ministry of Ports, Shipping and Waterways, Government of India, on June 01, 2026. This move ensures continuity in leadership following the retirement of the previous Chairman & Managing Director.

Shri Jose V J was initially entrusted with the additional charge in January 2026 consequent to the superannuation of Shri Madhu Sankunny Nair. The current extension is valid until a regular incumbent assumes the role or until further orders are issued, whichever occurs earliest. The company communicated this regulatory development to the stock exchanges.

Appointment Details

The following table outlines the key details regarding the extension of the additional charge:

The disclosure was made to BSE Limited and The National Stock Exchange of India Ltd. under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Syamkamal N, Company Secretary of Cochin Shipyard Limited.