The Hindu Business Line : Cochin Shipyard to get Mini Ratna status

As per the guidelines issued by the Department of Public Enterprises (DPE), the grant of Mini Ratna status would empower the Board of CSL to take speedy decisions on capital expenditure.The yard needs to create additional capacity in order to sustain the present growth momentum in future too. The conferring of the Mini Ratna status would help the company to achieve this at a faster pace, the officials said.

The company achieved a record turnover of Rs 967 crore during the year 2007-08. The profit before tax for the year was Rs 149 crore, which is higher by 74 per cent from last year. The net profit for 2007-08 was Rs 93 crores as compared to Rs 58 crores for 2006-07, a growth of 60 per cent.

The yard has proposals for setting up of a dry dock to cater to building and repairs of large sized ships. Besides the yard's proposal to create a separate division for small commercial ships have received the nod of the Central Government and this facility is expected to be commissioned by mid 2009.

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