Cochin Shipyard reported a 10.8% year-on-year increase in consolidated net profit to ₹287 crore for the quarter ended March 31, 2025, up from ₹259 crore in the same period last year. Revenue from operations surged 36.7% to ₹1,758 crore, while EBITDA declined 7.6% to ₹266 crore, resulting in a margin contraction to 15.1% from 22.4% a year earlier. Following these results, Cochin Shipyard's shares rallied over 13% in a single trading session, with a 42% gain over six days amid heavy volumes. The stock's rally was part of a broader surge in Indian defence stocks, driven by strong earnings, a healthy order pipeline, and robust policy support, as well as renewed investor interest following the India-Pakistan ceasefire understanding post-Operation Sindoor. The Nifty India Defence Index rose 4.27%, with notable gains in Bharat Dynamics, Mazagon Dock Shipbuilders, Paras Defence and Space Technologies, Garden Reach Shipbuilders & Engineers (GRSE), and others. However, Kotak Institutional Equities analysts cautioned that Cochin Shipyard's stock might face a sharp correction of nearly 60% from current levels due to valuation concerns. Other corporate earnings included Hyundai Motor reporting a 3.7% decline in net profit to ₹1,614 crore with a marginal revenue increase, and Bharat Heavy Electricals Limited (BHEL) posting a 3% profit rise to ₹504 crore with revenue growth of 8.9%. Delhivery reported a modest 5.6% revenue increase but swung to a consolidated loss of ₹68 crore, despite a 160% jump in EBITDA. Textile firm Arvind warned that US tariffs could impact margins in fiscal year 2026. The defence sector's rally continues to attract investor attention amid geopolitical developments and strong financial performance across key companies.