Visakhapatnam: Defence PSU Hindustand Shipyard Limited (HSL) has created a record by achieving highest-ever provisional revenue of 1597 crores in FY-24. It is important to note here that in FY'24, HSL has registered more than 3 times increase in revenue over FY'21. Then the total revenue was of Rs 478 crores and company had posted a loss of Rs 14 crores.
HSL has thus demonstrated an irreversible turnaround from a loss-making company to a vibrant DPSU contributing to 'Atmanirbhar Bharat' in National Ship Building.
HSL has in past 3 years taken steps that have strengthened defence PSU's overall performance which includes infrastructure upgradation, improving corporate governance, increased focus on ship repairs and refit.
For example, On March 30, 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 with a project completion timeline of 20 months.
In order to augment the capacity of the shipyard, HSL has stressed significantly on the PPP Projects, which is another important reason behind the record revenue generation.
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