Cochin shipyard wins productivity award

Cochin Shipyard Limited (CSL) has been awarded, for the second consecutive year, the FACT MKK Nayar Memorial Productivity Award for achieving the highest productivity in the category of large industry. The CSL had won the award last year for its achievement in 2006-07, and the present award is for its achievement for 2007-08, said a press release.
The award was presented by Minister for Industries Elamaram Karim, and was received by Cmde K. Subramaniam, director (operations) on behalf of the shipyard, here on Tuesday.
The yard has been achieving record financial and physical performance in the past few years. In 2007-08, the yard achieved a production of 175,536 DWT against an installed capacity of 150,000 DWT.
The profit after tax for the year 2007-08 was Rs 93.85 crore as against Rs 58.11 crore for 2006-07.
The CSL could maintain its growth momentum in 2008-09 too and registered a growth of around 40 per cent in turnover as per the provisional results.
At present, the shipyard has 20 ships on order, including the first indigenous aircraft carrier.
The keel of the prestigious aircraft carrier was laid by Defence Minister A.K. Antony on February 28 last.
The shipyard achieved another milestone when it was conferred the “Miniratna” status by the Ministry of Shipping in July 2008.