NEW DELHI: Hindustan Shipyard Limited (HSL) commemorated its 85th anniversary with a dual milestone: initiating the construction of the Indian Navy’s fourth Fleet Support Ship (FSS) and marking a remarkable financial turnaround under current leadership, demonstrating renewed vigour in India’s maritime and defence industries.
On June 19, Chief of Naval Staff Admiral Dinesh K Tripathi formally commenced the steel-cutting ceremony for the fourth FSS, emphasising the strategic imperative for India’s naval modernisation. The FSS is expected to be critical in enabling longer deployments and ensuring sustained naval presence across the Indo-Pacific.
The milestone event was part of a broader celebration lasting from June 12–21, marking HSL’s 85th Sapphire Foundation Day. During the celebrations, HSL paid homage to its founder, industrial pioneer Seth Walchand Hirachand, and hosted multiple events, including wellness initiatives such as yoga sessions, numerous CSR initiatives and an MSME conclave aimed at improving business efficiencies.
The company also showcased significant infrastructural upgrades, including blasting & painting bay, a new valve-testing facility, digital information kiosks, modernised dining and residential facilities, enhanced training spaces, community halls, and the inauguration of a dedicated Motivation Hall. Additionally, the shipyard released twelve key publications to streamline operations and embed knowledge-based practices across its workforce.
These celebrations highlighted HSL’s dramatic transformation from decades of severe financial distress to becoming a profitable and strategically relevant enterprise. Under the leadership of Commodore Hemant Khatri, HSL’s Chairman and Managing Director, the shipyard overcame a negative net worth, which had peaked alarmingly at Rs 1,023 crore in 2014-15 but was further exacerbated by the COVID-19 pandemic. The turnaround commenced post-2015 with modest profitability, overcoming substantial setbacks like the Rs 85 crore loss during FY 2020-21.
“Our transformation is not merely financial or the achievement of Mini Ratna status. It symbolises our professional growth from constructing small tugboats to delivering sophisticated strategic naval assets such as INS Dhruv and INS Nistar,” Commodore Khatri remarked. He attributed the turnaround to a fundamental shift in organisational culture, from individualism towards collective accountability and strategic clarity.
The construction of the fourth FSS capitalises on HSL’s recently upgraded slipway infrastructure, notably its newly installed 300-tonne Goliath crane, positioning the shipyard favourably to undertake larger and more sophisticated naval programmes such as Landing Platform Docks (LPDs).
