Mini Ratna Status for Hindustan Shipyard
Established in 1941, HSL has been a cornerstone of India’s shipbuilding capability, supporting the Nation’s naval and commercial fleets.
Visakhapatnam:Hindustan Shipyard Limited (HSL) has achieved a historic milestone by winning the prestigious Mini Ratna status on Monday.
“This recognition marks a defining moment in HSL’s journey of financial revival, operational excellence and growing contribution to India’s maritime and defence sectors,” an official release said.
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. Even after its transfer to the Defence ministry in 2010, its net worth remained negative despite government support.
Post-2015, HSL implemented targeted reforms in financial management, productivity and technological modernization, initiating a sustained turnaround.
“HSL consistently posted net profit over the last 9 years from FY 2015–16 to FY 2024–25, except for the 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,” the release said.
Commodore (retd) Girideep Singh, CMD of HSL, 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.”
This 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 would define its future journey, he added.
