Visakhapatnam: HSL achieves record production

The Hindustan Shipyard Ltd. has posted a highest value of production of Rs.755 crore with a net profit of Rs.50.78 crore during the year 2021-22.

Visakhapatnam: The Hindustan Shipyard Ltd. has posted a highest value of production of Rs.755 crore with a net profit of Rs.50.78 crore during the year 2021-22.

Informing this to media persons here on Friday, HSL chairman and managing director Commodore Hemant Khatri said the operating profit was Rs.10.69 crore as against a net loss of Rs.14 crore with an operating loss of Rs.73 crore during the previous year. This was achieved despite various challenges due to partial lockdowns and restrictions during the second and third wave of COVID, he noted.

---

The shipyard had delivered all the four 50-ton bollard pull tugs with a gap of only three months between the first and the fourth, making it the fastest delivery back to back of any series of ships in recent years, he observed. The construction of two diving support ships are at advanced stage and they are scheduled for delivery in July 2023 and January 2024, he said. The yard had delivered the 200th ship and repaired the 2000th ship during 2021-22 to commemorate Azadi Ka Arit Mahotsav, he stated.

Cmde. Hemant Khatri also said the order book was about Rs.2,185 crore and an MoU was signed with Eker Group of Norway and Vaan moto to explore future business opportunities in the field of manufacturing high speed boats for accelerating business growth.