Hindustan Shipyard Limited

Gandhigram, Visakhapatnam, Andhra Pradesh

| GST  37AAACH4275P1Z2

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Basic Information

Nature of BusinessService Provider
Legal Status of FirmLimited Company (Ltd./Pvt.Ltd.)
Annual TurnoverRs. 500 - 1000 Crore

Statutory Profile

GST No.37AAACH4275P1Z2
CIN No.U74899AP1952GOI076711

About The Company

I would like to conclude by thanking Central and State government authorities, the Ministry of Defence, the Naval and coast guard authorities, the Dredging Corporation of India Limited, Shipping Corporation of India Limited, The Oil & Natural Gas Corporation Limited , M/s Good Earth Maritime Limited and the Shareholders for the trust they have reposed on us. I would like to place on record our thanks to the Comptroller & Auditor General of India, the Principal Director of Commercial Audit and Ex-Officio Member, the Statutory Auditors, Internal Auditors for the valuable suggestions and co-operation. I also acknowledge with gratitude the continual assistance and guidance received from Indian Navy and Coast Guard. Last but not the least I appreciate the vital role and hard work put in by all employees of the company to achieve its Goal and Board of Directors who have supported the company to sustain in the tough times.

About Us

About Us
The Hindustan Shipyard Ltd, Visakhapatnam was set up in the year 1941 by the Scindia Steam Navigation Company. The Shipyard was partially taken over by Govt. of India in 1952, and HSL became a fully Govt of India owned enterprise in Jul 1961. Presently, this is the largest public sector shipyard in the country and the first yard to obtain ISO 9001-2000 accreditation. Recently, the yard has obtained certificate of approval of ISO 9001-2008 Certification from IRQS on 09 Nov 2012. Since inception, the yard has delivered 169 vessels of various types and repaired over 1900 vessels.

To imbibe the latest in Ship & Submarine Building and Repair technologies and serve the Defence, Maritime and Oil Sectors through all-round excellence in quality, delivery and durability.

About Directors

Your Company constantly endeavors to adopt and maintain highest standards of ethics in all spheres of its business activities. The company firmly believes that its business role is based on adherence to fundamental principles of Corporate Governance like honesty, integrity, accountability, adequate disclosures, legal & statutory compliances, and to protect, promote and safeguard interests of all stakeholders. It also strives to carry out its business obligations with good corporate values duly discharging its duties for maximum level of transparency in decision making to avoid conflicts of interests. It also accords due importance to adherence to the adopted corporate values and objectives and discharging social responsibilities as a responsible corporate citizen. A detailed report on Corporate Governance forms part of the Directors Report.

Board of Directors

Board of Directors
I have the great pleasure in welcoming you to this 61st Annual General Meeting of your company and share some of significant achievements during the year under review. The Directors Report & Audited Financial Statements have already been circulated to you, with your permission, I take them as read. Before I move to our company’s performance, I would like to highlight some of the issues of Global Shipbuilding vis-a-vis Indian Shipbuilding Industry.

Board of Directors :
  • Rear Admiral
NK Mishra NM,
IN (Retd.)
  • Cmde
Ashok Bhal,
IN (Retd)

Research & Development

Attrition of Permanent workforce is an emerging concern of the yard. In order to tide over the issue and considering the financial position of the yard, inductions in critical areas are being done through direct recruitment. Recently, the yard has recruited 31 Management Trainees besides lateral induction.

Your company continues to impart training to the new entrants and existing employees as well to increase the productivity. Your company believes that Human Resource of the company is a valuable asset and put its best efforts to nurture it through proper training & motivation.

Business Objectives

To acquire new skills in construction of Naval Ships and submarines.
  • To modernize the yard for efficient construction of Naval ships, conventional and strategic submarine.
  • To augment technological capabilities in the area of ship design and ship construction.
  • To train shipyard manpower on construction of modern Naval vessels through Design collaboration and Transfer of technology.
  • To incorporate “Best Practices” in all key activities of the yard including Production, Planning, Purchase, Marketing, Human resources and Customer Satisfaction.
  • To upgrade Welding, Cutting, Grinding and Plumbing Technologies.
  • To collaborate with reputed Design Bureaus for Naval ships and Submarines constructions.
  • To implement ERP system and upgrade IT infrastructure for efficient information management and transparent operations within and outside the enterprise.
Physical objectives:
  • Finalisation of ToT and Design Collaboration for new ships.
  • Initiation for modernisation of the yard for construction of conventional ships and submarines.
  • Completion of (02) IPVs for ICG, (02) 50-Ton BP Tugs for IN, (01) vessel of 53 K Bulker for M/s GML and (01) 50-Ton BP Tug for KPT.
Secure new orders for construction & repair of vessels over Rs.950 Cr. from Indian Navy & others.

Business Objectives
  • To construct and repair of Naval ships and Strategic / Conventional submarines.
  • To modernise the yard for efficient construction of Naval ships and Strategic & Conventional submarines.
  • To augment technological capabilities in the areas of ship & submarine design and construction.
  • To train manpower to construct warships.
  • To incorporate ‘Best Practices’ in all key activities of the yard including Production, Planning, Purchase, Marketing and Human Resource.
  • To upgrade Welding, Cutting, Plumbing and outfitting Technologies.
  • To upgrade ERP and IT systems for efficient information management and transparent operations.
  • Finalisation of ToT and Design Collaborations for new ships and submarine.
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Corporate Social Responsibilities

Corporate Social Responsibility
  • Hindustan Shipyard Limited (HSL) considers Corporate Social Responsibility (CSR) as a means to serve the society including all stake holders. All activities under CSR vision of the company forms an integral part of the Business function and covers community development initiatives prioritised on local needs.
  • The yard continues to show its commitment towards CSR even though it is not required to allocate dedicated funds towards CSR being a loss making organisation in accordance with the DPE guidelines. As a part of it, the Board of Directors has constituted a Board level sub-Committee on CSR and Sustainability and formulated a CSR & Sustainability Policy and Plan for the year 2013-14. The Chairman of the Committee is Shri Samirendra Chatterjee, IAS (Retd.), Non-official Part time Director.
  • A Senior Management Committee on CSR & Sustainability has also been constituted to monitor the implementation of the CSR Plan for the year 2013-14. The Senior Management Committee is chaired by an officer in General Manger Cadre with HODs/ Senior Officers from all concerned Departments of the yard as its members. The Committee oversees and implements the CSR Plan for the year 2013-14.
  • Since HSL is a loss making organisation, the company has identified some of the need based CSR initiatives for the betterment of the local people and society. The following activities have been undertaken for the betterment of all stakeholders, local people and the society at large as a part of CSR initiative of the Company .
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Our Core Values

The yard has three Strategic Business Units(SBUs) to address its core activities as follows:
  • Shipbuilding
  • Ship Repairs
  • Submarine Refit

Our Future Plans

Our strategic location, well laid out facilities, expertise and experience of our personnel and a conducive market are indicative of a bright future for the yard. However, the current financial constraints need to be tackled to remain alive. High value orders such as LPDs and SOVs are on the horizon and thus will increase our Order book from Rs. 1500 Cr now to at least Rs.12,000 Cr in next two years. The aging workforce would retire in next 2-3 years and will open avenues for induction of new workforce. We have already inducted around 60 Management Trainees in last two years and they would be trained to tackle the new orders. Overall the future is bright but the present dark clouds of financial constraints needs immediate attention.

Our Mission

To imbibe the latest in Ship/ Submarine building and Repair technology and serve the Defence, Maritime and Oil Sectors through all-round excellence in quality, delivery and durability.

Our Services

Our Facilities :
  • Ship Building Division
  • Ship Repairs Division
  • Submarine Retrofitting

Our Vision

Our Vision
To be a National Leader in Ship & Submarine Building and Repairs .
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