Photo Credits: Revived Goa Shipyard looking stronger for an exciting future
Byline: The Goan Network
Goa Shipyard Ltd (GSL) posted a massive turnaround of Rs 78 crore for the fiscal 2014-15 vs Rs 61 crore from 2013-14 in its yearly results, at its 49th annual general meeting.
The announcement comes after the Shipyard bagged the huge order of building minesweepers to augment India’s defence capabilities, priced at Rs 32,400 crore.
Rear Admiral Sekhar Mital, Chairman and Managing Director of GSL said, "We are the largest exporter of defence ships in India. We are currently executing export orders for Sri Lanka Navy, Government of Mauritius and also Government of Myanmar. We are taking all measures to expand our global footprint further".
Buoyed by good performance, the company incurred Rs 110 crore on capital expenditure in FY 2014-15. This was towards infrastructure upgradation, of which two phases are already done and the third phase is in progress.
GSL is one of the major suppliers of vessels to the Indian Navy. According to a press release, GSL added yet another feather to its cap by delivering the fourth naval offshore patrol vessel (NOPV) to the Indian Navy on July last year. During the year, GSL undertook two guarantee refits of NOPVs successfully.
The robust business by GSL can be attributed to Union Defence Minister Manohar Parrikar who carried reviving the Shipyard as one of the points on the top of his agenda. In fact, it was Parrikar, who gave the huge minesweeper order to the shipyard.
Goa being a state where companies often find it tough to set shop on account of several reasons, entities like GSL surely come forth as a silver lining. If this chapter of “Make in Goa” indeed becomes successful, it will not only give a fillip to Goa in terms of income and jobs for its people, but it will also be a boost to the larger “Make in India” on the national level.
