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Goa Shipyard Ltd (GSL) has been upgraded to 'Schedule A' status by the Union ministry of finance, reflecting its robust financial performance and strategic importance in India's defence shipbuilding sector. In FY 2024-25, GSL achieved record production valued at Rs 2,801 crore, marking a 71% increase, with a profit after tax of Rs 288 crore and a net worth of Rs 1,620 crore.

GSL's order backlog exceeds Rs 16,193 crore. The upgrade improves board autonomy and enhances directors' powers, positioning GSL closer to Navratna status. GSL constructs vessels for the Indian Navy and Coast Guard, including frigates and patrol vessels.