Goa Shipyard Ltd to go public in a year: CMD

“With a healthy balance sheet and order book size, within a year we plan to go public”

April 22, 2018 11:15 am | Updated 11:15 am IST - Chennai

 Union Minister Suresh Prabhu commissioning the Coast Guard ship ' Shaunak' built by Goa Shipyard Ltd ( GSL) at Marmagao.

Union Minister Suresh Prabhu commissioning the Coast Guard ship ' Shaunak' built by Goa Shipyard Ltd ( GSL) at Marmagao.

Goa Shipyard Limited (GSL) has planned to get listed on the bourses over the next one year, a top official said here.

“With a healthy balance sheet and order book size, within a year we plan to go public,” said GSL, Chairman and Managing Director, Shekhar Mittal.

He said the company witnessed a turnaround in the last four years, and is now a profit making firm. The value of production increased to Rs.1,371 crore in 2017-18 from Rs.500 crore in 2013-14.

Responding to a query, during a recent interaction, Mittal said, the company clocked profits of Rs.300 crore last year with a total revenue of Rs.1,500 crore.

“We have been witnessing 30% compounded (annual growth rate) over the last few years. We have the maximum number of deliveries of ships,” he said.

He attributed the increase in revenue on account of completing projects ahead of time, delivery of ships and improving operational efficiencies.

The company recently signed a pact with Rolls-Royce to manufacture technologically-advanced MTU Series 8,000 engines, used in offshore patrol vessels, in the country.

As per the agreement, the companies would assemble 16-cylinder and 20-cylinder MTU Series 8,000 engines at the GSL’s new facility to come up in Goa with an investments of Rs.100 crore, Mittal said.

To a query, Mittal said the next phase of growth for the company would come through Mine Counter Measuring Vessels and Advanced Missile Frigates for the Navy. “Our plan is to move towards Rs.5000 crore revenue in five years.”.

On the investments made so far, he said, the company invested close to Rs.1,000 crore in capacity building.

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