On June 25th, PSU Mazagon Dock Shipbuilders Limited (MDL) was elevated to the status of Navaratna. MDL is the Union Government’s flagship Warship and a submarine-building company that emerged as India’s 21st Navaratna PSU owing to its consistent performance in the recent past and its commitment to playing a more significant role in the country’s defence landscape and contributing to the growth and development of the defence sector.
Mr. Sanjeev Singhal, the Chairman and Managing Director (CMD) of MDL, happily stated, “The elevation to Navratna status is a testament to MDL’s rich heritage and unwavering commitment to excellence. We are deeply thankful to all our stakeholders for reposing their trust in MDL and the entire workforce — past & present — whose dedication has been pivotal towards the company’s success. We extend our heartfelt gratitude to the Ministry of Defence/ Department of Defence Production, Dept of Public Enterprises, DIPAM and our esteemed customers the Indian Navy, under whose guidance and support, MDL has been able to achieve this milestone.”
It is pertinent to mention that MDL is already underway in advanced discussions with the Ministry of Defence to construct three additional Kalvari-class submarines for the Navy, valued at Rs 35,000 crore. MDL also holds 47.21% equity share capital of Goa Shipyard Limited, another PSU under the Ministry of Defence.
