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RAdm Shekhar Mital NM
Takes over as CMD GSL
  • Goa Shipyard Limited (GSL), a Public Sector Shipyard has played a significant role in furthering the self-reliance policy of the nation. With an unmatchable track record of timely execution and fixed cost delivery of over 215 ships & 125 Fast Interceptor Boats, today GSL stands as the success story of the changing face of Indian Defence Shipyards. The company has achieved nearly 40% growth in top line in last 02 years with bottom line turning positive from a loss of Rs 61 Cr in FY 13-14 to Net Profit of Rs 77 Cr in FY 14-15, thereby registering a sharp turnaround. The excellent financial results achieved are clearly a result of new policies, strategic realignment of priorities coupled with cost control initiatives and close project monitoring introduced at various levels.

  • GSL's passionate pursuit for excellence combined with its flexible, decentralized management philosophy to meet the demands and rapidly changing requirements of a varied clientele, has placed it on top of the league amongst Indian shipyards.

  • Design Capability. GSL's core competency is based on its in-house design capability, which furthers the "Make in India" policy of GoI. It is the only shipyard in the country engaged in the entire design spiral of ships, leading from Concept design to Basic design to Detailed Design and has consequently grown into a fully recognised R&D Centre recognized by the Department of Scientific and Industrial Research, Ministry of Science and Technology, GoI. Today the Yard, designs and builds amongst the best Patrol Vessels in the world in terms of quality, aesthetics, cost and delivery time.

  • Exports and Future Orders. GSL has an export order book of over Rs 1200 Cr and has diversified product range including OPVs, FPVs, Missile boats, Survey vessels, LCUs, Tugs etc. As part of further diversification activities, the shipyard undertakes construction and setting up of various kinds of simulators. With major in-house capability enhancements, both at the infrastructure level and knowledge/design based up-gradations, the shipyard is fully geared up to take up construction of high end paltforms including Hovercrafts, ASW Shallow Water Crafts and specialised land and sea based training simulators.

  • MCMV Project

    • In response to GoI 'Make in India' Program announced in Sep 2014, GSL, had proposed to take up construction of all MCMVs indigenously in October 2014, against earlier decision of MoD, to procure 02 ships from abroad. MoD/DAC has cleared construction of all 12 MCMVs at GSL, in Feb 2015, in accordance to GSL proposal, which was the first major 'Make in India' Project cleared by the government.
    • According to the mandate of MoD/DAC, the shipyard has rapidly moved ahead to create capabilities on various fronts so as to start constuction of mega MCMV Project, as per plan, by mid 2018. Towards this, ToT collaboration with foreign shipyard for making these high end MCMV ships indigenously will be finalised shortly. This will provide new shipbuilding capability to Indian shipyards. Further, the tender for weapons/ sensors is also expected to be floated by Apr 2016. The ships will have state-of-the-art ASW weapons and sensors, MCM Suit, which will open a new vistas of capability for GSL and Indian industry. In preparation to execute MCMV Project, GSL has undertaken a massive infrastructure up-gradation from 2009 to 2016, involving CAPEX of ˜ Rs 700 Cr. Further, Projects worth another Rs 650 Cr, are underway, so as to commence the construction on MCMV Project from mid 2018 onwards. Skill development and Supply Chain Management for maximum indigenisation is also being pursued vigorously. With the above diverse activities being pursued on multiple fronts, the yard is gearing up to execute the MCMV Project as envisaged by MoD.

    • Today's success, toil and 'determination to succeed' of it's workforce is a prelude to the next chapter in our glorious journey ahead. It is also a direct result of the benign and proactive policies of the Govt of India / Ministry of Defence and support of Govt of Goa. GSL is confidently marching ahead with the promise to serve the Nation with higher indigenous shipbuilding capabilities to meet the needs of our Armed Forces. JAI HIND.

The striving towards our vision is a never-ending challenge. Today's success is only a prelude to the next chapter in our story. GSL is confidently marching head with the above promising trends to scale new heights of glory in the years to come.

Thank you…

RAdm Shekhar Mital, NM, IN (Retd)
Chairman & Managing Director