Goa Shipyard Limited

About Goa Shipyard Goa Shipyard Ltd (GSL) is a renowned shipyard that produces medium-sized advanced warships for the Indian Navy, Indian Coast Guard, and other customers. It is situated on the southern bank of the Zuari River in Vasco da Gama, Goa. The company designs, builds, and commissions vessels for defense and commercial sector. They also provides repair and modernization of vessels, technology transfer. The Indian Navy, Indian Coast Guard, ONGC, Madras Port Trust, Government of Sri Lanka, Government of Myanmar, and Government of Goa are among the enterprises' important clients. The Portuguese founded Goa Shipyard Limited (GSL) on November 26, 1957, as 'Estalerios Navais de Goa.' Since September 26, 1967, it has operated on its own Board of Directors. It is a CPSE under the Ministry of Defense's administrative jurisdiction. Goa Shipyard Merger & Acquisition Investments The Company has not awarded any loans or made any investments, according to the facts and explanations provided by the company. Goa Shipyard Business Model The firm creates, constructs, and commissions boats for the defense and commercial markets. They also offer vessel maintenance and modernization, as well as technology transfer. Goa Shipyard Product & Services Products and Services: For the Indian Navy, the Coast Guard, and other clients, the business develops and manufactures advanced ships. Commercial boats such as offshore supply vessels, oceanographic and coastal research vessels, fishing vessels, dredgers, tugs, and so on are also built by them. Goa Shipyard Assets Tangible assets as on 31 March 2021: Assets Amount in Cr. Land Rs.7 Building & Other Civil Constructions Rs.648 Plant and Machinery Rs.405 Furniture's Rs.11 Office Equipment Rs.11 Computers Rs.13 Motor Cars and Vehicles Rs.3 Steam Launches and Boats Rs.8 Intangible assets as on 31 March2021: Assets Amount in Cr. Software Rs.3 Goa Shipyard Industry Overview Industry Statistics Ship Building Industry: This industry includes businesses that specialize in the construction of ships such as passenger ships, naval ships, container ships, and cargo ships. According to Euromonitor, India's ship and boat manufacturing value fell by 18.3% in FY20, making it the region's 10th largest country. The industry's production value is expected to expand at a CAGR of 5.8% from FY20 to FY25 where the impact of COVID-19 epidemic is expected to have fully recovered in FY24. The growth is primarily driven by factors such as increased seaborne trade, accelerated economic expansion, rising energy consumption, and rising demand for environmentally friendly ships. Market Trends Shipbuilding's Advanced Outfitting- Many shipyards are employing sophisticated outfitting techniques to shorten the shipbuilding cycle and save expenses. Traditionally, the shipbuilding process was sequential, with component outfitting occurring only after the ship hull was launched, whereas advanced outfitting involves the installation of machinery, seating structures, piping, electrical, and hull outfit items prior to the fabrication and erection of the hull structure on the birth or dock. This results in less overhead work, higher man-hour utilization, and increased productivity, allowing shipbuilding companies to build ships fastereriii. Depending on the complexity of the shipbuilding process, advanced outfitting is divided into two categories: block outfitting and zone outfitting. Shipbuilding Robotics- Robotics technology is rapidly being used by shipbuilding businesses to streamline processes and boost productivity. To automate welding, blasting, heavy lifting, painting, pipe cleaning, inspection, and other operations in a shipyard, robots employ 3D camera sensors and system-on-chip (SoC) technology. Shipbuilding businesses in Europe, South Korea, Brazil, Japan, and China employ shipyard robots extensively. Technologies for Green Shipbuilding- Green shipbuilding technologies are rapidly being used by shipbuilding enterprises across the world to comply with environmental standards. Ships with no ballast systems, which prevent organisms from entering the ship and eliminate the need for sterilisation equipment, sulphur scrubber systems, waste heat recovery systems, speed nozzles, exhaust gas recirculation systems, advanced rudder and propeller systems, fuel and solar cell propulsion systems, and LNG fuels for propulsion and auxiliary engines are among the technologies being used in shipbuilding. Ships designed with these technology save a lot of energy and emit very little carbon. Peers: The company's competitors include Cochin Shipyard and Garden Reach Shipbuilders & Engineers Ltd. Future Prospects Outlook: The advancement of the military sector has a significant impact on the company's and industry's shipbuilding development. In India, the defense industry is undergoing considerable and progressive transformation, with potential for expansion. The Indian government has set a target of US$ 25Bn. in defense manufacturing by FY25 (including US$ 5Bn in exports). The defense capital investment in the budget FY21-22 has been increased by 19% in FY21 over FY20 to fund defense modernization. Government Initiatives Government Regulator: Indian Register of Shipping (IRClass) - Founded in 1975, the Indian Register of Shipping (IRClass) is a globally recognised, independent ship classification association. It is a non-profit organisation, a government undertaking, and a member of the International Association of Classification Societies, which has 12 members (IACS). Along with Croatian Register of Shipping (CRS) and Polish Register of Shipping, it was accepted into IACS (PRS). Today, IRClass serves as the sole authority for final assignment of Load Lines in Indian flag vessels and as the security organisation that determines compliance with the International Ship and Port Facility Security Code (ISPS) for Indian flag ships and port facilities on behalf of the Maritime Administration of the Government of India. AATMANIRBHAR BHARAT - INDIGENISATION AND MAKE IN INDIA INITIATIVES - The government is continuing to implement many programmes under the 'AatmaNirbhar Bharat Abhiyan' to stimulate domestic defence industry and, as a result, lessen its reliance on imported defence items. Under the 'AatmaNirbhar Bharat' initiative, the Indian government has placed 101 defence products under import restriction and issued the Defence Acquisition Procedure (DAP) 2020, with the ultimate goal of converting India into a worldwide defence manufacturing powerhouse. A draught Production and Export Promotion Policy (DPEPP) 2020 has been developed in tandem with the goal of self-sufficiency and increased export. The government has issued a 'Positive Indigenisation List' of 108 commodities that must be acquired from indigenous sources in order to give this self-reliance project a boost. Goa Shipyard Detail Info Industry Statistics PUBLIC LIMITED Registered In India last Updated 30/03/2022 Registered Date 26/11/1957 Grey Market Shrae Ticker Goa Reg Office: Swatantra Path, Vaddem, New Vaddem, Vasco da Gama, Goa 403802 Website: https://goashipyard.in/