Goa Shipyard Limited

Goa Shipyard began in 1957 as Estaleiros Navais de Goa, set up under Portuguese administration to build barges for the territory's mining trade. India took Goa in 1961 and the yard was turned over to naval work. It has been a Ministry of Defence undertaking ever since, based at Vasco da Gama, with roughly 1,400 employees and, unlike its peers in Kolkata and Kochi, no stock market listing. The yard has built roughly 167 vessels since it turned from mining barges to naval work, and it holds Miniratna status under the same defence ministry that owns Garden Reach and Mazagon Dock. Gross revenue crossed 3,000 crore rupees for the first time in the 2024-25 financial year, value of production grew 71 percent, and the order book is projected to approach 34,000 crore rupees, which gives the yard visibility well into the next decade.

Ship design and construction is the core strength, and it is built around patrol ships. Goa Shipyard has delivered the Samarth class of 105 metre offshore patrol vessels to the Indian Coast Guard, the earlier Vikram class, Sarojini Naidu class fast patrol vessels, Veer class missile corvettes of Tarantul lineage, and a long series of landing craft. Eleven Samarth class hulls went to the Coast Guard through 2022 alone. Two sail training barques, Tarangini and Sudarshini, came out of the same slipways and still carry Indian Navy cadets across oceans. Exports matter here. The Sri Lanka Navy took two advanced offshore patrol vessels derived from the Samarth design, the first handed over in 2017 well ahead of schedule. That contract mattered because it proved an Indian yard could deliver a warship to a foreign customer early, on a fixed price, without a European design house behind it. Current work covers two Project 1135.6 frigates for the Indian Navy launched in July 2024 and March 2025, next generation offshore patrol vessels, pollution control vessels for the Coast Guard, twelve fast patrol boats ordered by the Indian Army and an LPG cylinder carrier delivered to the Lakshadweep administration. Mine counter measure vessels are the yard's stated next ambition, and it has been talking to South Korean and Indian partners about how to build them.

Ship repair and refit services form the second line, handling modernisation, retrofit and lifecycle support for defence and commercial owners on the west coast. The third is General Engineering Services, which builds simulators, auxiliary craft and marine specific systems and equipment on customer sites, work that sits closer to industrial contracting than to shipbuilding. Capacity sets the shape of the whole operation. The yard cannot take vessels much above 15,000 deadweight tonnes, so it competes on delivery speed, repeat classes and design ownership rather than on size, and its pitch to friendly navies leans on the fact that the patrol ships it sells are already in Indian service. Net income came in near 288 crore rupees on that record 2024-25 turnover.