Cochin Shipyard Secures ₹1,000 Crore Naval Vessel Contract

Team Finance Saathi

30/Nov/2024

What's covered under the Article:

Cochin Shipyard Limited secures ₹1,000 crore Ministry of Defence contract.
The project includes short refit and dry docking of a large Indian Navy vessel.
Contract duration estimated at five months with no related party involvement.

Cochin Shipyard Limited (CSL), a prominent shipbuilding company, has secured a significant contract with the Ministry of Defence (MoD), Government of India, for the short refit and dry docking of a large Indian Naval vessel. The announcement was made on November 30, 2024, and the contract is valued at over ₹1,000 crore.

Project Details

The project entails refitting and dry docking a large naval vessel, with an estimated duration of around 5 months. This contract further solidifies Cochin Shipyard’s role as a key player in the defence sector, showcasing its expertise in managing large-scale shipbuilding and maintenance projects.

Financial and Operational Impact

With a contract value of ₹1,000 crore, this project is expected to significantly contribute to the company’s revenue for the next few months. The 5-month duration of the contract allows Cochin Shipyard to showcase its ability to handle high-value, high-complexity naval vessel maintenance.

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No Related Party Transactions

Cochin Shipyard has clarified that none of the promoter/promoter group or group companies have any interest in the entity that awarded this contract. Additionally, the contract does not involve any related party transactions, ensuring transparency in the business operations.

This naval vessel dry docking project further strengthens the relationship between Cochin Shipyard and the Ministry of Defence, highlighting the company’s expertise and capacity to handle critical and large-scale defence contracts.

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Cochin Shipyard Secures ₹1,000 Crore Naval Vessel Contract

Project Details

Financial and Operational Impact

No Related Party Transactions

Related News

Disclaimer