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Bharati Defence And Infrastructure Limited

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Bharati Defence and Infrastructure Limited
Company typePublic
BSE: 532609
NSE: BHARTISHIP
IndustryShipbuilding
Founded1973 (1973)
FounderPrakash C. Kapoor
Vijay Kumar
Headquarters
Mumbai
,
India
Key people
Prakash C. Kapoor, MD
Vijay Kumar, MD
ServicesShip design
Ship building
Ship repair
Revenue₹13.52 billion (US$160 million) (2010)[1]
Increase ₹1.38 billion (US$17 million) (2009-10)[1]
SubsidiariesTebma Shipyard Private Limited
Pinky Shipyard Private Limited
Websitebdil.co.in

Bharati Defence and Infrastructure Limited (formerly Bharati Shipyard Limited) is one of the largest shipbuilding companies in India.

History

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Bharati Shipyard Limited (BSL) was founded in 1973 in Ratnagiri, Maharashtra by Prakash C. Kapoor and Vijay Kumar, graduates of the Ocean Engineering & Naval Architecture program at Indian Institute of Technology, Kharagpur, as well as colleagues at Mazagon Dock Limited. The company went public in December 2004, with listings on the Bombay Stock Exchange and the National Stock Exchange.[2]

In 2005, BSL subsequently acquired a 51% stake in privately held Pinky Shipyard Private Limited based in Goa. In 2009, BSL won majority control of Great Offshore Limited in a bidding war with ABG Shipyard Limited.[3] In November 2010, BSL acquired a majority stake in South India based Tebma Shipyards for INR 757.5 Million.[4]

BSL bought the entire equipment and infrastructure of the iconic British shipyard, Swan Hunter, in 2007, after it declared bankruptcy.[5]

In 2015, the shipyard group found itself heavily indebted and in severe financial difficulties. In developing a restructuring plan, the Edelweiss Asset Reconstruction Company acquired 70 per cent of the debt from the lending banks and, as an indication of a desire to concentrate on defence business, the company's name was changed in 2015 to Bharati Defence and Infrastructure Limited.[6] In January 2019 the National Company Law Tribunal declared the restructuring proposals from Edelweiss to be unacceptable and ordered the company's liquidation.[7]

Facilities

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Bharati Shipyard is headquartered in Mumbai.[8] It operates shipbuilding facilities in Ratnagiri, Dabhol, Mangalore and Kolkata. It has structural quality assurance facilities at Ghodbunder Road in Thane district. Its subsidiary, Pinky Shipyard, has shipbuilding facilities in Goa.[1][9] Its subsidiary, Tebma Shipyard, has shipbuilding facilities in Karnataka, Kerala and Tamil Nadu.[10]

BSL's Dabhol yard is one of the largest in India, spread over 300 acres. In 2007, BSL bought the entire equipment and infrastructure, of bankrupt British shipyard Swan Hunter. The infrastructure, including the iconic cranes and the floating dock, was dismantled, transported to India, and installed at BSL's Dabhol yard.[5]

Products

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Bharati Shipyard builds jackup rigs, platform supply vessels, tractor and ASD tugs, dredgers, deep sea fishing vessels, bulk carriers, cargo and container ships, tankers and roll-on/roll-off vessels.

In March 2009, it was awarded a ₹2.8 billion (US$34 million) contract to build 15 high-speed interceptors for the Indian Coast Guard.[11]

References

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  1. ^ a b c "Annual Report 2009-10" (PDF). Bharati Shipyard Limited. Archived from the original (PDF) on 25 March 2012. Retrieved 11 September 2011.
  2. ^ "Bharati Shipyard Ltd". BSE. Retrieved 11 September 2011.
  3. ^ "Anonymous mail tries to sink Bharati". Business Standard. 2 July 2011. Retrieved 10 September 2011.
  4. ^ "Bharati Shipyard plans to acquire majority stake in Tebma". Reuters. 23 November 2010. Archived from the original on 7 March 2016.
  5. ^ a b "Bharati Shipyard shifting Swan Hunter yard to India - Corporate News". livemint.com. 16 April 2007. Retrieved 23 November 2010.
  6. ^ "Bharati Shipyard board okays name change to reflect focus on defence sector". Business Standard. New Delhi/Mumbai. 31 July 2015. Retrieved 29 January 2019.
  7. ^ Manoj, P (16 January 2019). "NCLT orders liquidation of Bharati Defence". The Hindu - Business Line. Mumbai. Retrieved 29 January 2019.
  8. ^ "Contact Us". Bharati Shipyard Limited. Archived from the original on 16 May 2010. Retrieved 23 November 2010.
  9. ^ "Home". Bharati Shipyard Limited. Archived from the original on 7 July 2011. Retrieved 23 November 2010.
  10. ^ "Bharati Shipyard: Building a strong base". Business Standard. 25 November 2010. Retrieved 11 September 2011.
  11. ^ "Bharati Shipyard bags Rs 281cr defence contract". Business Standard. 6 March 2009. Retrieved 10 September 2011.
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