Hindustan Shipyard Limited bags Governance Now Award

Visakhapatnam: Hindustan Shipyard Limited (HSL) has been bestowed with ‘Governance Now’ award in the category of ‘Resilient Growth’. The Governance Now awards felicitation ceremony was held at New Delhi on Thursday night.

HSL Chairman and Managing Director Rear Admiral L V Sarat Babu along with his team received the award from MP Manoj Tiwari, Poonam Dhillon, veteran actress.

The Governance Now Awards recognises the efforts of Public Sector Undertakings that have been a key to the country’s growth. This is the 6th award being received by the company in the last two years.

Earlier, HSL has received Raksha Mantri’s award for excellence in the category of Innovation on May 30, 2017. HSL was also bestowed with two SODET (Society for Defence Technologist) excellence awards on February 10, 2018 under the categories Technology Development (silver medal) and Technology Innovation(bronze medal).

HSL also received certificate of appreciation for its commitment towards investing in “Learning and Development” during Annual BML Munjal Awards 2018.

The shipyard is registering a remarkable turnaround by posting profits continuously for the last three years for the first time in the past four decades, despite the prevailing gloom in the shipbuilding business scenario. With the best productivity measures and improved morale, an operating profit of Rs 69.80 crore and turnover of Rs.644.78 crore was achieved in 2017-18 fiscal.