Registers highest ever Revenue & Net profit

The nation’s premier shipbuilding organization, Hindustan Shipyard Ltd ended the recent fiscal (FY24) on a soaring high.

HSL recorded its highest-ever provisional revenue of Rs 1597 Cr in FY’24 which as per HSL is more than 3 times an increase in revenue over FY’21 which was Rs 478 Cr. Similarly the shipyard’s net profit zoomed to Rs 109 crores from a net loss of Rs 14 crores registered in FY 21(See chart).

Set up in the year 1941 the shipyard has demonstrated an irreversible turnaround from a loss-making company to a vibrant DPSU contributing to ‘Atmanirbhar Bharat’ in National Shipbuilding.

‘There have been a slew of reforms that have been undertaken since my taking over as CMD. For one there has been a great focus on timely delivery of ships. 

I can tell you that all ships for refits and repairs in the past few years have either been delivered on time or in many instances ahead of their delivery schedule. 

The new mantra at HSL is customer is king’ said a visibly happy Cmde Hemant Khatri, IN (Retd), CMD speaking to Vizag Industrial Scan.

Giving a fillip to ease of doing business the CMD said that many procedures have been simplified, business acumen shar- pened and young officers recruited at HSL. 

‘Today there is a sense of ownership in our valued employees. When people visit HSL they sense a rejuvenated HSL brimming with confidence and positivity  both towards the company and clients’ said Cmde Khatri.

With a renewed sense of vigor and enthusiasm HSL employees too have been performing well. ‘Just in the last 1 year itself HSL has won 15 awards. 

This shows the passion and dedication that my team has been working with at the shipyard’ said HSL’s CMD. 

Commenting on the delivery of the 1st DSV he said it is planned for later this year while the second DSV will be delivered within 6 months of the first DSV.