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Hindustan Shipyard Limited (HSL) on June 19 launched construction of a strategic naval vessel, unveiling upgraded infrastructure, and highlighting a dramatic turnaround in its financial fortunes after four decades of negative networth.
New Delhi: Hindustan Shipyard Limited (HSL) celebrated its 85th anniversary on June 19 by launching construction of a strategic naval vessel, unveiling upgraded infrastructure, and highlighting a dramatic turnaround in its financial fortunes after four decades of negative networth.
On June 19, Admiral Dinesh K Tripathi, Chief of the Indian Navy, formally commenced the steel-cutting ceremony for the Navy’s fourth Fleet Support Ship (FSS), underscoring India’s drive towards maritime self-sufficiency and strategic autonomy amid regional tensions.
Defence analysts note that the project significantly boosts India's naval endurance at sea and aligns with Prime Minister Narendra Modi’s SAGAR vision — Security and Growth for All in the Region.
The shipyard’s week-long Foundation Day celebrations (June 12–21) showcased its broader ambitions, featuring events ranging from tributes to its founder, industrialist Seth Walchand Hirachand, to wellness activities like yoga sessions.
An MSME conclave focusing on Ease and Speed of Doing Business was held to encourage closer cooperation with MSMEs. The celebrations also marked significant infrastructural upgrades, including blasting and painting bay, new valve-testing facilities, digital kiosks, refurbished residential quarters, dining halls, community and training spaces, and the establishment of a Motivation Hall.
Additionally, HSL introduced twelve new publications to streamline internal operations and promote a culture of knowledge and efficiency.
HSL’s broader transformation journey
These milestones reflect HSL’s broader transformation journey from prolonged financial distress— with negative net worth hitting an alarming Rs 1,023 crore by FY 2014–15 — to profitability and organisational stability.
Under the leadership of Commodore Hemant Khatri, the shipyard overcame severe setbacks, notably a Rs 85 crore loss during the Covid-19 pandemic (FY 2020-21), to emerge financially robust strategically relevant, and as a positive networth.
"Our turnaround goes beyond merely achieving financial stability or Mini Ratna status," Commodore Khatri explained. "It symbolises a fundamental shift in capabilities—from building small tugs to delivering advanced strategic naval warships like INS Dhruv and INS Nistar. This achievement has been driven by collective competence, courage, and professional conviction."
The construction of the fourth Fleet Support Ship on HSL’s upgraded slipway infrastructure, now featuring a powerful 300-tonne Goliath crane, positions the yard effectively to handle larger, complex naval projects, including Landing Platform Docks (LPDs).
HSL’s transformation aligns with India's national ambition under Prime Minister Modi’s “Aatmanirbhar Bharat” initiative, which aims to boost domestic manufacturing and establish India as a competitive global defence manufacturing hub.
The Indian Navy Chief’s decision to personally oversee the steel-cutting signals the high degree of trust the service places in Hindustan Shipyard’s professional leadership, technical proficiency, and significant progress toward strategic and operational excellence.
