Mazagon Dock: aptly called “Ship Builder to the Nation”

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As of 18 June 2024, Mazgaon dockreported a strong order boom of Rs 385.6 bn. It is the country’s largest shipbuilder, both in terms of revenue and order book.

This strong position is largely due to its unique role in the Indian defence sector, specialising in building conventional submarines and destroyers for the Indian Navy.

It has been tasked with manufacturing some of the Indian Navy’s most ambitious programmes, including its Scorpene class of submarines and the Visakhapatnam and Kolkata class destroyers.

It is currently awaiting approval from the Indian government for a submarine project worth Rs 200 bn for manufacturing three more submarines, the first of which was inducted in 2017, which is further set to bolster its order book.

The Navy has a fleet requirement of around 175 ships, which includes next-generation destroyers, next-generation corvettes, and frigates.

The projects may not necessarily be awarded to Mazagon Dock, despite its expertise. It has to compete with other government shipyards, as well as with the privately owned L&T, for new projects.

Both Mazagon Dock. are shortlisted for the Indian Navy’s P75 project, which involves manufacturing six more submarines with an air-independent propulsion system (AIP) and lithium-ion batteries.

For now, though, Mazagon Dock has its hands full. The company is already manufacturing four frigates under Project 17 Alpha, with the first of the deliveries starting this year in addition to delivering the last of the Scorpene submarines.