VISAKHAPATNAM: Hindustan Shipyard Limited (HSL) in Visakhapatnam has been granted Mini-Ratna status by the Government of India. The recognition follows the shipyard’s consistent financial performance, and operational improvements over the past few years.
According to officials, HSL has recorded net profit in nine of the last 10 financial years, except in 2020-21, when operations were affected by the Covid-19 pandemic.
Cmde Girideep Singh, Chairperson and Managing Director of HSL, said, “Achieving Mini-Ratna status reflects the consistent efforts of our employees. We thank the Ministry of Defence, our customers, and business partners for their support.”
Cmde Singh further noted that this achievement symbolises resilience, leadership, and teamwork. With renewed strength and vision, HSL is set to enhance India’s maritime growth through innovation, green shipbuilding, and defence capability. Strategic collaborations and integration of advanced shipbuilding technologies will define its future journey,” he added.
Established in 1941, HSL has been an important part of India’s shipbuilding and repair sector, supporting both naval and commercial operations. The shipyard faced financial difficulties from the 1980s, and continued to report losses even after being transferred to the Ministry of Defence in 2010.
From 2015 onwards, HSL undertook measures to strengthen financial management, enhance productivity, and modernise operations, which led to gradual improvement.With the new status, HSL will have more flexibility in administrative and financial decisions.