ABG Shipyard Limited
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BSE Code:
532682
NSE Code:
ABGSHIP
Business Profile
Business Profile
ABG Shipyard (ABGSHIP), the flagship company of the ABG group, manufactures and repairs ships for commercial and government clients. It was acquired in 1989 and went public in 1995. The chairman of the company is Kamlesh Kumar Agarwal and Rishi Agarwal, the managing director.
The shipyard has state-of-the-art manufacturing facilities including a ship-lifting capacity of 4,500 tons. The manufacturing process is in line with world-class standards and the yard is certified by DNV for ISO 9001:2000. The company is now setting up a new shipyard with state-of-the-art manufacturing facilities including two 400 M long newbuilding dry-docks to build vessels upto 120,000 DWT.
The shipyard has constructed and delivered 95 vessels including specialized and sophisticated vessels like interceptor boats and self loading for leading companies in India and abroad. Recent deliveries have been a diving support vessel to Vroon BV, Netherlands; two vessels to Lamnalco Group, UAE and Deep Sea Supply, Norway; a 61 M anchor handling tug supply vessel to Egypt-based Maridive & Oil Services. The current order book position is over Rs. 55,600 million. Recent orders are for construction of 12 vessels of approximately 32,000 DWT from Precious Shipping Public Co., Thailand; four bulk carriers of 54,000 DWT; construction of 11 interceptor boats for the Indian Coast Guard.
The company is to acquire Vipul Shipyard situated adjacent to the company`s existing shipyard. It has the highest exporter awards from Engineering Export Promotion Council over the past two years. Its client list includes Sea Tankers (John Fredriksen Group - world`s largest tanker operator), LYS-Line (Norway), Lamnalco, (Sharjah), ..etc. The registered office is located at Near Magdala Port, Dumas Road, Surat-395007, Gujarat and corporate office at 5th Floor, Bhupati Chambers, 13, Mathew Road, Mumbai?400004.
Financials
ABG Shipyard announced a decline in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined marginally by 2.27% to Rs 460.48 million from Rs 471.18 million in the same quarter previous year. Net sales for the quarter jumped 77.81% to Rs 4,889.02 million, while total income for the quarter jumped 78.18% to Rs 4,934.51 million, when compared with the prior year period. It posted earnings of Rs 9.05 a share during the quarter, registering 2.16% decline over previous year period.