Pipavav Defence and Offshore Engineering is in discussion with two international defence major to set up production facilities at Pipavav for the Indian Armed Forces. Private sector is allowed to bid for defence contracts in India, subject to their building capacities and capabilities. The company is also in process of bidding for two significant contract for Indian Army using its existing infrastructure capabilities.
Recently, Pipavav Defence and Offshore Engineering had signed the contract with the Ministry of Defence for design and construction of five numbers of Naval gunboats / NOPVs for the Indian Navy. The total cost of the project was Rs 2,975 crore and the company had signed the contract on May 27, 2011. With signing of this contract, the Company had entered into warship building and it is for the first time in the country that a private sector Company had entered into contract for warship building with Indian Navy. In addition to its other activities, the company was also poised to emerge as an integrated defence Company.
The company has registered a net profit for the year under review at Rs 39.77 crore as compared to a net losss of Rs 48.82 crore for FY10. Its total income has increased by 32.49% at Rs 923.30 crore for the year from Rs 696.89 crore in previous year.
Pipavav Defence and Offshore Engineering’s principal activity is to set up shipyard project. It is the sole sponsor of training at two Industrial Training Institutes (ITIs) situated at Rajula and Mahuva, Gujarat, in the vicinity of the company's shipyard.
Company Name | CMP |
---|---|
Shipping Corpn. | 247.20 |
GE Shipping | 1157.35 |
Dredging Corp | 861.55 |
Shreyas Shipping | 337.20 |
Seamec | 1089.50 |
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