India: Cochin Shipyard’s Net Profit for 2010-2011 Increases by 13 Times

Cochin Shipyard has increased its turn over by four times from Rs 373 crores in 2005 – 2006 to Rs 1426 crores in 2010 – 11 . During the same period the company’s Profit Before Tax increased by 14 times from Rs 25 crores to Rs 346 crores and the Net Profit by 13 times ie from 18 crores to 228 crores.

Presently, Cochin Shipyard has 34 ships on order consisting of 20 Fast Patrol Vessels for Coast Guards, 13 Offshore Supply Vessels for Foreign Owners and the prestigious Indigenous Aircraft Carrier for Indian Navy. The approximate value of the orders on hand is Rs 3500 crores excluding the Aircraft Carrier.

In the current year CSL delivered a Platform Supply Vessel in July 2011 for Norwegian Owners. This is the first time in India, that such a high technology, clean design, diesel electric propulsion Offshore Vessel have been constructed and delivered as per the exacting quality standards of the Norwegian Owners. Another three ships, of similar design are slated for delivery in the next three months, all for Norwegian Owners. Apart from the above, CSL is constructing six ships for Shipping Corporation Of India, the first of which is slated for delivery in mid September, 2011. The yard has also commenced work on four Offshore Support Vessel for Norwegian Owners based at Cyprus. For the Defence requirements, the construction of 20 Fast Patrol Vessels has commenced. The company is making all out efforts to launch the ‘Indigenous Aircraft Carrier’ by December 2011.

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Source: pib, August 5, 2011; Image:cochinshipyard