the goan I network
VASCO
Chairman and Managing Director of Goa Shipyard Limited (GSL) Rear Adm Shekhar Mital on Friday demitted office on his retirement after serving for 4 years and 10 months.
Cmdr Nagpal, who is presently Director (CPP&BD) at GSL will assume charge as CMD from Saturday.
On the occasion of Mital’s retirement, the GSL employees bid him an emotional farewell and recalled the achievements of his tenure.
Mital expressed deep satisfaction on his tenure and owed his success to the commitment of employees of GSL and support from both Central and State governments, Ministry of Defence, Indian Navy, Coast Guard and local Goa population.
According to a GSL press note, Mital has been credited for turning around a loss-making organisation into profit within one year of his taking over, given his innovative solutions.
“There was no looking back since then, as GSL delivered 26 ships, 2 Damage Control Simulators and one NBC Simulator in four years, all before contractual delivery schedules.”
“In today’s time when majority of the shipyards operating in the same ecosystem struggle with time and cost overruns, Mital instituted a culture of ‘before time’ deliveries, which will reap rich dividend for a long time to come.”
“The reduction in ‘Build Period’ of OPVs from 67 months to 36 months not only helped in timely deliveries but also led to significant financial gains to GSL,” the press note stated.
“The satisfying results of this strong execution driven performance soon translated into sound financials, with the revenue increasing 3 times “ a remarkable surge from around Rs 553 crore prior to 2013 to Rs 1,453 crore in FY18. The profits (PBT) has grown from (-) 63 Crore in FY 14 to Rs 331 Crore in FY 18 reflecting the tremendous growth achieved in the last few years.”
Under Mital’s leadership and outreach, GSL said it had emerged as the largest exporter of defence ships from India consecutively for last three years, delivering 2 OPVs to Sri Lanka, 2 FPVs and 11 FIBs to Mauritius and a Damage Control Simulator to Myanmar.
Securing major import substitute projects such as Advanced Missile Frigates and Mine Counter Measure Vessels was one of Mital’s major achievements as it has put GSL in the select league of shipyards, which can design and construct such complex and weapon intensive platforms, stated the press note.
“The Shipyard, which till date was handling projects max upto Rs 2000 crore, is now working on Missile Frigates Project worth Rs 14,850 crore. This will usher huge new opportunities for the local industry at Goa.”
Cmdr Nagpal takes over as GSL CMD
VASCO: Cmdr B B Nagpal has taken over as Chairman and Managing Director of Goa Shipyard Limited (GSL) from Saturday.
An alumni of Sainik School Bhubaneswar, IIT Delhi and Naval War College, St Petersberg, Russia, Nagpal has over 32 years of service and experience in the Indian Navy as a Naval Architecture Officer before joining GSL as Director (CPP&BD) in Aug 2016, stated a GSL press note.
He has vast experience in large shipbuilding projects like Destroyers and Corvette and has been Project Director for design of many front-line warships in the Navy.
He has also held the coveted Post of Principal Director of Naval Design at IHQ MoD (N), besides other appointments at Naval Dockyard and Shipbuilding yards providing wide spectrum of experience in refits and shipbuilding.
