Press Release26 Jun 2024, 11:36 pm
Mazagon Dock Shipbuilders Ltd Elevated to 'Navratna' Status by Ministry of Finance
AI Summary
Mazagon Dock Shipbuilders Ltd (MDL), a leading Warship and Submarine builder in India, has been elevated to 'Navratna' status by the Ministry of Finance, Government of India on 25th June 2024. MDL is now the 21st Navratna CPSE in the country, the 3rd in Defence PSUs, and the first Shipyard to achieve this prestigious status. The company has posted a consolidated Annual Turnover of Rs. 9467 Crores and a Net Profit of Rs. 1845 Crores for the FY 2023-24. MDL, which earned the status of Miniratna - I in 2006, also holds 47.21% of Equity Share capital of Goa Shipyard Limited, a PSU under the Ministry of Defence.
Key Highlights
- Mazagon Dock Shipbuilders Ltd elevated to 'Navratna' status by Ministry of Finance
- 21st Navratna CPSE in the country, 3rd in Defence PSUs, and the first Shipyard to achieve this status
- Consolidated Annual Turnover of Rs. 9467 Crores and a Net Profit of Rs. 1845 Crores for the FY 2023-24
- Holds 47.21% of Equity Share capital of Goa Shipyard Limited, a PSU under the Ministry of Defence
- Achieved this feat through strong legacy, technical proficiency, and dedicated workforce