HSL gets Mini Ratna status

Visakhapatnam: After its spectacular success in achieving a turnaround, Hindustan Shipyard Limited (HSL) got another feather on its cap by attaining the prestigious Mini Ratna status. The recognition marks a defining moment in HSL’s journey of financial revival, operational excellence and growing contribution to India’s maritime and defence sectors.

Established in 1941, HSL has been a cornerstone of India’s shipbuilding capability, supporting the Nation’s naval and commercial fleets.

The shipyard faced prolonged financial challenges from the 1980s, and even after its transfer to the Ministry of Defence in 2010, its networth remained negative despite government support.

Post-2015, HSL implemented targeted reforms in financial management, productivity, and technological modernisation, initiating a sustained turnaround.

HSL has posted net profit consistently over the last nine years from FY 2015–16 to FY 2024–25, except FY 2020–21 due to Covid-19-related production losses and supply chain disruptions. This performance highlights the resilience, commitment, and capability of HSL’s workforce.

Cmde Girideep Singh, CMD of HSL, expressed his joy and gratitude and said "It is a proud moment for all at HSL. Achieving Mini Ratna status reflects the dedication and commitment of our workforce. I extend heartfelt thanks to the Ministry of Defence, our customers, and business partners for their support, trust, and collaboration.”

The achievement symbolizes 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.

HSL’s Mini Ratna status stands as a testament to visionary leadership, strategic reforms, and the collective determination of its workforce, supported by the Ministry of Defence.