Top 3 Companies in India by Net Sales from Ship Building Sector (Feb 2024 update)

India’s shipbuilding sector has significant growth potential and is vital to the country’s strategic and economic objectives. Other industries, such as steel, engineering machinery, port infrastructure, trade, and shipping services, are impacted by shipbuilding. Shipbuilding’s potential inadvertently industry thus contributes greatly to GDP and creates a great deal of jobs. India boasts a coastline spanning approximately 8,000 kilometers, approximately 32 shipyards, 12 major ports, and 200 ports under state jurisdiction. This offers the shipbuilding industry enormous potential for growth, given that the nation’s opportunities in this field have not yet been fully realized. The industry’s yearly turnover from 2007 to 2011 was US$ 1.3 billion, with a compound annual growth rate (CAGR) of 8%. With 257 vessels on order at the end of 2010, Indian shipbuilders ranked sixth in the world, making up 1% of the global order book and compensating gross tonnage (CGT) of 2.4 million.

With a combined new building order of more than 90%, the top three nations in the world for shipbuilding—South Korea, China, and Japan—had a hegemonic grip on the sector. With 40% of the tonnage compared to 34% for South Korea, China emerged as the clear leader. About 65% of the US$ 174 billion in shipbuilding exports worldwide in 2010 came from these three nations. With a 27% global shipbuilding export contribution, Korea was first in line, closely followed by China with a 23% global export contribution. Japan ranked third, contributing 15% of the world’s shipbuilding exports. Despite ranking sixth globally in terms of shipbuilding orders and total exports, India contributes nearly 2.5% of global exports, totaling US$ 4.22 billion in 2010. India is significantly behind other high-performing nations in this regard.

List of Top 3 Ship Building in India (BSE) based on Net Sales.

Company Name Net Sales (Rs. cr)
Mazagon Dock 7,827.18
Garden Reach Sh 2,561.15
Cochin Shipyard 2,330.46
Source: BSE, India, last updated 28 February, 2024

This news is a creative derivative product from articles published in famous peer-reviewed journals and Govt reports:

1. Thangam, K. M., & Sureshkumar, D. (2015). Competitiveness of Indian ship building industry. International Journal of Innovative Research & Development4(7), 18-25.
2. Islam, M. K., Shaikh, M. A., & Habib, M. M. (2017). An Overview of the Shipbuilding Industry: A Literature Review. In 1st International Conference on Business & Management (ICBM 2017) (pp. 185-90).
3. Das, C. D. A., & Varma, V. A. D. (2015). Indian Shipbuilding Industry and the Indian Maritime Strategy-A Review. CENTRE FOR ADVANCED STRATEGIC STUDIES, 93.

Disclaimer: This news is for information and research purposes only. It is not intended for financial advice.
Declaration of competing interest: Publisher and owner of this web-portal hereby declare that there is no competing interest.

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