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In order to maintain its revenue growth, private player Bharati Shipyard Limited is scouting for more defence sector orders. Mumbai-based Bharati Shipyard makes cargo and container ships, tankers, dredgers, fishing boats, as well as other vessels such as those for coastal patrolling.
As of now, Bharati Shipyard has defence orders for small patrol vessels worth about $60.1 million and it plans to increase its revenue from this sector. The company will start delivering the vessels under the current orders after 15 months and complete the work over the next three years, said the company officials.
Bharati Shipyard had a total order backlog worth $1billion rupees as of March 31 which will be finished over the next few years. For the fiscal year ended March 31 2009, Bharati Shipyard posted a 20% rise in net profit from a year earlier and its revenue grew nearly 46%.
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