Goa Shipyard Limited (GSL): Powering India’s Maritime Future

1. Company Overview

• Origin: Established in 1957 under Portuguese rule; reconstituted as GSL in 1967.

• Status: Defence PSU under the Ministry of Defence.

• Clients: Indian Navy, Indian Coast Guard.

• Core Strengths: In-house design, R&D, and modernization capability.

• Segments: Defence, Commercial, Training & Support Systems.

• Global Presence: Active participation in NAVDEX, EXPONAVAL, AAD; export orders from Luxembourg & Sri Lanka.

2. FY 2024-25 Highlights

• Gross Revenue: ₹3,190 Cr (+53%)

• Revenue from Operations: ₹2,851 Cr (+63%)

• PAT: ₹288 Cr (vs ₹271 Cr in FY24)

• EPS: ₹24.78

• Order Book: ₹16,193 Cr; potential to reach ₹34,000 Cr with new naval contract.

• Zero Debt: Maintained debt-free status for 10 years.

• Dividend: 153% for FY25.

3. Major Project Milestones

• Frigates: Two advanced frigates launched (Jul 2024, Mar 2025).

• Pollution Control Vessel: First in-house designed PCV launched (Aug 2024).

• Fast Patrol Vessels: Four FPVs launched, one delivered (ICGS Adamya).

• Exports: Progress on Floating Dock for Sri Lanka (100% indigenous) and Hybrid Dredger for Jan De Nul, Luxembourg.

• Concurrent Projects: 22 vessels under execution.

4. Indigenisation & MSME Focus

• Indigenous Content:

  • Frigates – 56%

  • NGOPVs – 76%

  • PCVs – 75%

  • FPVs – 60%

  • Floating Dock – 100%

• MSME Procurement: 53.13% of total; double the mandated 25%.

• Positive Indigenisation Lists: 41 out of 49 items localized.

5. Infrastructure & Innovation

• ₹1,400 Cr Modernization: Facility to build 14 steel and 5 GRP vessels simultaneously.

• 6,000-Tonne Shiplift: First in Indian defence shipyards.

• Digital Edge: Advanced ERP (Infor LN), CAD/CAM, and VR design centres.

• IPR Portfolio: 51 registered intellectual properties.

• R&D Spend: ₹18.52 Cr; focus on AI-based monitoring and stealth design.

6. Diversification & Global Reach

• Commercial Expansion: Fully Electric Tugs, Dredgers, Offshore & Multi-Purpose Vessels.

• Training Infrastructure: Damage Control Simulators, NBC Training Centres, Survival at Sea facilities.

• Exports: 119% growth to ₹82.04 Cr; first European dredger contract.

7. Financial Snapshot (FY23–FY25)

8. Outlook

• Revenue Growth Target: 15–20% annually.

• Future Projects: Bidding for Next-Gen Corvettes (~₹18,000 Cr).

• Long-Term Vision: Expand to greenfield shipyard; enhance export capability.

• Strategic Goal: Position GSL as India’s global defence shipbuilding hub under Aatmanirbhar Bharat.
  
  

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