HSL earns highest-ever VoP of Rs.755 crore

Visakhapatnam Hindustan Shipyard Limited (HSL), a Ministry of Defence Enterprise posted a net profit of Rs.50.78 crore with an operating profit of Rs.10.69 crore during 2021-22.

After review of performance at the annual general meeting, HSL Chairman and Managing Director Commodore (retd.) Hemant Khatri told the media on Friday that the shipyard has earned the highest-ever Value of Production (VoP) of Rs.755 crore since its inception in 1941.

It has excelled in all the three major business segments contributing to achieving the highest-ever VoP. The CMD said shipbuilding remained at Rs.613 crore marking it as the highest VoP from the shipbuilding division.

The segment-wise VoP from shipbuilding division & ship repair divisions stood at 81% and 18% as against 57% and 41% % of the total VoP of the company recorded previous year. The yard has delivered all four numbers of 50-ton bollard pull tugs with a gap of only three months between the first and the fourth tug making it the fastest deliveries back to back of any series of ships in recent years.

The construction of two diving support ships are at an advanced stage of construction with both the ships at 70% physical progress. These vessels were concurrently launched in the presence of Admiral R. Hari Kumar, the Chief of the Naval Staff on September 22 and scheduled for delivery in July, 2023 and January, 2024.