Cochin Shipyard is the first Greenfield and presently the most modern shipbuilding and ship repair yard in India. The company was incorporated in April 1972. In the last four decades, the company has emerged as a front-runner in the Indian Shipbuilding and Shiprepair Industry.
Consistently profit making and dividend paying Category I Miniratna company with ‘Excellent’ rating under MOU with GOI for the last several years.
Exported 40 ships in the last decade to discerning clients in Europe and US.
Capacity to build ships up to 1,10,000 DWT and repair ships up to 1,25,000 DWT.
Presently building the most prestigious and largest warship viz. the Indigenous Aircraft Carrier for the Indian Navy. India is only the fifth nation worldwide to build an Aircraft Carrier of this size.
First shipyard in India to have implemented Integrated Management System comprising of Quality Management System (ISO 9001:2008), Environment Management System (ISO 14001:2004 ) and Occupational Health and Safety Management System (OHSAS 18001:2007).
Cochin Shipyard has an enviable reputation for building high quality ships. The shipyard has built two of India’s largest double hull Aframax tankers, each of 93,000 DWT (MV Maharshi Parashuram and MV Abul Kalam Azad, both for SCI). Cochin Shipyard can build a wide variety of ships for the Merchant Navy, Ports , Island territories & commercial ships to national / international owners. The company is presently building the first ‘Indigenous Aircraft Carrier’ for the Indian Navy. In the last decade the company has exported more than 40 Ships to discerning international clients located in West Europe, USA, Saudi Arabia etc
Cochin Shipyard has undertaken repairs to over 1800 ships of all types over the last 32 years. CSL has an enviable reputation for quality and timely delivery of vessels. CSL is the only yard that has been undertaking underwater repairs to the existing aircraft carrier of Indian Navy. The yard has also successfully undertaken afloat repairs to jack up rigs of ONGC/ foreign clients. The yard intends to tap the huge potential for ship repair in the country and is investing about Rs 500 crores to set up a modern ship repair facility on a 30 year leased land (about 42 acres of land) from Cochin Port Trust (CoPT).
CSL has posted excellent financial performance for the last several years.The turnover increased by nearly five times from Rs 374 crores in 2005-06 to Rs 1629 crores in 13-14. The Profit Before Tax increased by twelve times from Rs 25 crores to Rs 297 crores and Net Profit by eleven times from Rs 18 Crores to Rs 198 Crores during the period. The company has been regularly paying dividend for the last four years. The company has redeemed Rs 119 crores of preference shares to the Govt of India and is virtually debt free.
Presently the company has 18 ships on order comprising of 15 Nos Fast Patrol vessels for the Indian Coast Guard, the Indigenous Aircraft Carrier for the Indian Navy, one Offshore Support Vessels for international client and a buoy tender vessel for the Department of lighthouses and lightships.
The company is constructing the most prestigious and largest warship for the Indian Navy viz the Indigenous Aircraft Carrier (IAC). The IAC is being designed by the Indian Navy, with the detailed engineering, material procurement and ship construction being carried out by Cochin Shipyard. The contract for the ship was signed in May 2007 and the Phase-I, comprising of 15000 Tonnes of hull construction and over 2500 tonnes of outfitting was completed on 12 August 2013. The ship was launched on 12 August 2013 by Smt Elizabeth Antony wife of Shri A K Antony, the then Hon’ble Raksha Mantri.
Industrial Relations scenario of the Company remained cordial and peaceful. CSL continues to maintain, for the 29 years running, the legacy of not losing a single man day on account of labour unrest by the regular employees of CSL. Effective and purposeful interactions are held with the various categories of regular employees through their representative bodies viz. trade unions and Officers and Supervisors Associations. However, the shipyard faces challenges with regard to employment of contractors and their employees. The subcontractors of shipyard do not have total freedom in employing their own workers and have to necessarily take workers from the solitary ‘CITU" controlled union. This has cost and production implication.
The manpower strength on the permanent rolls of the company is approx. 1800. The company has endeavored to maintain a lean work force and employs a pool of sub contractors for a variety of works. CSL has a highly skilled and experienced manpower dedicated to achieving excellence in their performance. Towards this end, a significant human resource initiative was undertaken to extend training for skill development, motivation, leadership and personality development across all levels of employment.
The company has constituted a board level CSR committee to lay down the CSR policy and approve major CSR initiatives. The total amount disbursed for CSR in the year 2013-14 was Rs 2.10 crores.
The company has constituted a board level CSR committee to lay down the CSR policy and approve major CSR initiatives. The total amount disbursed for CSR in the year 2013-14 was Rs 2.10 crores.
