Goa Shipyard Ltd Upgraded to Schedule A, Enhancing India's Defence Shipbuilding Capacity
Goa Shipyard Ltd (GSL) has been upgraded from 'Schedule B' to 'Schedule A' by the Union ministry of finance, reflecting its strong financial performance and operational excellence. In FY 2024-25, GSL reported a production value of Rs 2,801 crore, a 71% increase from the previous year, and a profit after tax of Rs 288 crore. GSL is engaged in building vessels for the Indian Navy and Coast Guard, with a net worth of Rs 1,620 crore and ship orders exceeding Rs 16,193 crore. The upgrade enhances the autonomy of GSL's board and its significance in the defence sector.
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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.
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