Department of Defence Production signs MoU with GSL
July 20th, 2017
A Memorandum of Understanding (MoU) was signed between Department of Defence Production and Goa Shipyard Limited (GSL), a miniratna Defence Public Sector Undertaking (DPSU) for the financial year 2017-18. The annual MoU was signed between Secretary (Defence Production) Shri Ashok Kumar Gupta on behalf of the Ministry of Defence and Chairman and Managing Director, GSL Rear Adm (Retd) Shekhar Mital. This year’s MoU target for ‘Revenue from Operations’ has been set at Rs1150 crore, which is 43 percent higher than the financial year 2016-17 target of Rs800 crore. Notably, in the financial year 2016-17, the Shipyard achieved historical high VoP of Rs1030 crore and PBT of Rs177 crore. GSL was adjudged as ‘Best Performing Shipyard’ by MoD.