Visakhapatnam: Hindustan Shipyard Limited (HSL) has emerged from decades of financial challenges to chart a new course of growth, innovation, and strategic relevance. This was the central message delivered by Commodore Girideep Singh, Chairman and Managing Director of HSL, during his address at the SwaRaksha Mahotsav 2025, held at Hotel Radisson Blu in Visakhapatnam on Tuesday.
The event celebrated India’s progress toward self-reliance in defence production, innovation, and industry collaboration.
Eight Decades of Service to India’s Maritime Forces
Highlighting HSL’s enduring legacy, Singh noted that the shipyard has delivered over 200 ships and repaired more than 2,000 vessels for the Indian Navy, Coast Guard, and various commercial entities.
He described the Mahotsav as a catalyst for India’s rise in the defence sector amid rapidly shifting global dynamics.
Historic Financial Turnaround After Four Decades
In a major announcement, Singh revealed that HSL recorded its highest-ever production value and profit in FY 2024–25, achieving net worth positivity for the first time in 40 years.
“This revival is not just in numbers, but also in the confidence of our customers, government, vendors, and workforce,” he said. The turnaround, he added, reflects the alignment of HSL’s growth with national initiatives like Atmanirbhar Bharat and Maritime India Vision 2030.
Strategic Role in Defence Modernization
The CMD also outlined HSL’s increasing importance in India’s defence ecosystem. He pointed to ongoing and upcoming high-impact projects, including the Fleet Support Ship programme and advanced submarine refits.
“These initiatives will significantly bolster India’s maritime security and technological sovereignty,” Singh emphasized.
Collaborative Ecosystem for MSMEs and Start-ups
Singh highlighted the shipyard’s collaborative growth strategy, focused on empowering MSMEs, start-ups, and other industry partners.
“Reforms and partnerships are opening avenues for thousands of vendors to grow alongside HSL,” he said, stressing the need for inclusive development within the defence production supply chain.
Vision for Dual Shipbuilding Hub and Green Technologies
Looking ahead, Singh unveiled HSL’s ambition to evolve into a dual-purpose shipbuilding hub—serving both naval and commercial markets. A key component of this vision is the adoption of green technologies and sustainable shipbuilding practices.
Call for Collaboration and Innovation
In his concluding remarks, Singh extended an invitation to innovators, academia, MSMEs, and industry leaders to join HSL’s mission of strengthening India’s indigenous defence capabilities and expanding its global maritime footprint.
About HSL
Hindustan Shipyard Limited (HSL), headquartered in Visakhapatnam, is a premier Defence PSU engaged in shipbuilding, ship repair, and submarine refit projects. Operating under the Ministry of Defence, it plays a vital role in strengthening India’s maritime defence infrastructure.
Read also: Hindustan Shipyard (HSL) Wins ‘Shipbuilding Company of the Year’ at Maritime Excellence Awards 2025
