MAZAGON DOCK SHIPYARD ACQUIRES 51% STAKE IN COLOMBO DOCKYARD

Defence public sector company

has acquired a 51% stake in Colombo Dockyard PLC (Sri Lanka), thereby marking it as India's first international acquisition in shipbuilding. The deal valued at Rs 249.5 crore strengthens the company's presence in the South Asian region. Colombo Dockyard has now become a subsidiary of . is a prominent shipbuilding company in India and engaged in the construction of warships, submarines, passenger ships, cargo ships, and offshore platforms. The company has reported a strong sales growth of 26% CAGR and profit growth of 57% CAGR over the last 3 years. With this new acquisition, the company's sales and profits are set to grow it the coming years.