Cochin Shipyard Limited
is the largest shipbuilding and maintenance facility in India. Of the services
provided by the shipyard are building platform supply vessels, double-hulled
oil tankers, product carriers, passenger vessels. CSL has also managed to secure
shipbuilding orders from internationally renowned companies from Europe and Middle
East and is presently building the country’s first indigenous Air Defense Ship.
CSL also undertakes repair operations for all types of ships including
upgradation of ships, periodical layup repairs and life extension of ships. The
yard has over the years developed adequate capabilities to handle complex and
sophisticated repair jobs. The Shipyard also trains graduate engineers to
marine engineers who later join ships both Indian and foreign as 5th Engineers.
100 are trained every year.
Cochin Shipyard Limited
(CSL) has paid a dividend of INR. 16.99 crore to the Centre. It is for the 6th
consecutive year, the PSU company is paying the dividend. The
dividend cheque was handed over to Union Shipping Minister Nitin Gadkari by
Chairman and Managing Director of CSL K Subramaniam. The dividend is of Rs 1.5
per equity share on the 11,32,80,000 fully paid equity shares of INR. 10 each.
In addition, the yard has also contributed INR. 162.10 crore to the exchequer
by way of VAT, Income Tax, Fringe Benefit Tax, Excise Duty, Customs Duty and
Service Tax during the year 2013-14.
A statement issued here
pointed out that the performance of the yard had been consistently impressive
in the last several years despite a very challenging business environment in
the shipbuilding/ship repair and shipping scenario.
The company’s turnover
has increased five fold from INR. 373 crore in 2005-06 to INR. 1,637 crore in
2013-14. The net profit has more than doubled during the period from INR. 94
crore to INR. 194 crore.
Considering the
sluggish market, the yard performed creditably by posting an increase of 5 per
cent, both in turnover which increased from INR. 1,554 crore in 2012-13 to INR.
1,637 crore this year and in net profit which was up from INR. 185 crore in
2012-13 to INR. 194 crore this year.
The company is looking
at enlarging its product range and is actively pursuing the construction of
dredgers and LNG vessels.
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