HSL recorded the highest turnover of ₹755 crore since inception, says CMD

‘The company also posted a net profit of ₹50.78 crore and an operating profit of ₹10.69 crore for the financial year 2021-22’

Hindustan Shipyard Limited (HSL) recorded the highest turnover of ₹755 crore, since its inception, and also posted a net profit of ₹50.78 crore and an operating profit of ₹10.69 crore for the financial year 2021-22.

Addressing a press conference here on Friday, Chairman and Managing Director of HSL Cmde. Hemant Khatri said that if things go as per the plan then HSL will be recording a turnover of over ₹1,000 crore in this financial year.

He also pointed out that since its inception, HSL has delivered about 200 ships of different shapes and sizes, including ships for the Indian Navy and Indian Coast Guards, and has repaired 2,000 ships and submarines, including a large number of refits.

Talking about the future plans and businesses, Cmde Khatri said that a large number of projects were on the anvil, which includes a refit of a Sindhughosh-class submarine, which can tune up to a business of about ₹520 to ₹620 crore. “It will be a 24-month project and we have earlier successfully delivered two submarines of this class before the deadline,” he said.

This apart, HSL is on the brink of cracking the contract for five fleet support ships (FSS) for the Indian Navy.

The successful completion and delivery of INS Dhruv, a state-of-the-art research vessel and missile range instrumentation ship, and the ongoing concurrent construction of two diving support vessels (DSV), has almost cleared the decks for HSL to earn the FSS contract.

“This is going to be a major boost to the HSL and we are in the process of augmenting our infrastructure,” said the HSL’s CMD.

As part of the infrastructure augmentation, one slipway is being prepared and readied and another is being augmented.

According to Cdr. J.P. Gupta, Director corporate planning and personnel, a 300-tonne Goliath crane is also being erected near the slipways and the slipways are being readied to accommodate the FSS.

As part of the infrastructure building, HSL has acquired about 25 acres of land, which was part of its quarters block and the required clearances have been obtained.

This apart, talks are on to build a LPD (Landing Platform Dock) of the size of INS Jalashwa, an ocean surveillance vessel and the complete refit of ONGC rig Sagar Bhushan.

According to the CMD, HSL now has the capability to build modern stealth warships such as corvettes, frigates, ASW (anti submarine warfare) ships and destroyers. “Today, despite being a shipyard under the Ministry of Defence, contracts are not nominated and we have to earn the contract through bidding and competition. We have to fight it out with about six defence shipyards and six private shipyards, and we are ready for it,” said Cmde Khatri.

He also pointed out that to encourage MSME, HSL will shortly be providing space for a MSME park, wherein MSMEs can set up shops to accommodate their workshop and office.

As part of our expansion plans, we have recruited about 60 officers for various departments and another 45 will be taken soon, he said.

‘Crane accident’

Referring to a question on the crane accident in 2020, in which about 10 employees had died, the CMD said that three committees one headed by the internal officials, one by the officials from the State government and the third by professors from IIT-Madras, have clearly stated that the accident had taken place due to fault in the design. “We have lodged an FIR against the company and arbitration is under progress,” said Cmde Hemant Khatri.