HSL likely to bag Rs. 20k-cr order from Navy

Armed with the vision to become an internationally competitive and modern shipyard for construction, repair and refitting of ships and submarines, HSL is also venturing into new partnerships to further enhance its technical capability and overall growth

Visakhapatnam: The iconic Hindustan Shipyard Limited (HSL) set up here in 1941 is poised to get a new order for building five Fleet Support Ships from the Indian Navy worth Rs 20,000 crore by December-end creating a huge potential for MSMEs to participate in the mega shipbuilding programme.

The yard, which released a coffee table book on "200 Ships & Beyond" on the occasion of 81 glorious years in service to the Nation, is keen on exploring the immense potential of becoming a ship repair hub on the Eastern Seaboard of India. The shipyard, which is under the Ministry of Defence, is implementing significant reforms in all facets of the shipbuilding and repairs keeping pace with evolving technology and a competitive marketplace. The expansion ambitions of maritime services such as the Indian Navy and Coast Guard, have given the indigenous military shipbuilding industry a much needed boost.

HSL under the leadership of its Chairman and Managing Director Commodore (retired) Hemant Khatri reported the highest-ever turnover of Rs 759 crore (provisional) since inception. In addition, it recorded a net profit over Rs 50 crore (provisional) and registered a YOY growth of 60 per cent.

"With the government encouraging and putting strong emphasis on "Atmanirbhar Bharat", it's time to embark on a new phase of self-reliance by producing technologically advanced equipment in India" said Khatri. Armed with the vision to become an internationally competitive and modern shipyard for construction, repair and refitting of ships and submarines, HSL is also venturing into new partnerships to further enhance its technical capability and overall growth. He said that a new order for five Fleet Support Ships worth Rs.20,000 crore by year-end of December will create huge potential for MSMEs to participate in the mega shipbuilding programme.

The performance highlights FY 2021-22 include recording a net profit over Rs.50 crore (prov.), a YOY growth of 60%, won five successive ship repair orders worth Rs.230 crore, completed repair of 17 ships on time and delivered four 50 tonne bollard pull tugs in an interval of three months. The yard repaired two foreign ships, augmenting of major infrastructure is now in progress. The yard is also gifted with an outstanding submarine repair facility.