Hindustan Shipyard earns Mini Ratna status after 40 years
Hindustan Shipyard Limited (HSL), India's major defense shipbuilder based in Visakhapatnam, has earned Mini Ratna status after nearly 40 years of financial ups and downs.
This big upgrade comes as HSL posted its first positive net worth in four decades, breaking a long cycle of losses and government bailouts.
'Magic of Five' plan drives HSL's comeback
In the 2024-25 financial year, HSL hit ₹1,586 crore in income and ₹166 crore profit—a 36% jump from last year.
Their comeback is thanks to the "Magic of Five" plan: round-the-clock shifts, digital upgrades with SAP S4/HANA ERP, AI-powered manufacturing, and a new "Mega Block" shipbuilding method.
Even though COVID-19 briefly pushed them back into losses in 2020-21, they've managed profits eight out of the past nine years.
Mini Ratna status boosts HSL's investment capacity
With this status, HSL can invest up to ₹500 crore without waiting for approval—so decisions and partnerships get faster.
It's a big nod to their reforms and shows how important they're becoming in India's maritime defense scene.