Reliance Naval & Engineering (RNAVAL) is facing an acute cash flow crunch, which is impacting existing orders in absence of a debt resolution plan. Lack of new orders has led to significant reduction in the current level of operations as compared to its capacity.
RNAVAL (formerly Reliance Defence and Engineering / Pipavav Defence and Offshore Engineering Company) has the largest engineering infrastructure in India and is one of the largest in the world. RNAVAL is the first private sector company in India to obtain the licence and contract to build warships.
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