The Hindustan Shipyard Limited (HSL) created a record by achieving the highest-ever provisional revenue of Rs 1597 crore in the financial year 2024.
It is important to note here that in this financial year, HSL registered more than 3 times increase in revenue over financial year 2021.
Then the total revenue was Rs 478 crore and company posted a loss of Rs 14 crore. HSL has thus demonstrated an irreversible turnaround from a lossmaking company to a vibrant DPSU contributing to ‘Atmanirbhar Bharat’ in National Shipbuilding.
HSL has in the past 3 years taken steps that have strengthened defence PSU’s overall performance which includes infrastructure upgradation, improving corporate governance, and increased focus on ship repairs and refit.
HSL towards boosting its capacity for ongoing Fleet Support Ships and future projects like Landing Platform Dock signed a major infrastructure upgradation contract with L&T Geostructure on March 30 with a project completion timeline of 20 months.
In order to augment the capacity of the shipyard, HSL has stressed significantly the PPP Projects, which is another important reason behind the record revenue generation.