Dear Shareholders,

It gives me great pleasure to present to you the Annual Report of Hooghly Cochin Shipyard Limited (Hooghly-CSL) for the year ended March 31, 2025.

The year under review has been a period of steady progress for the Company as we continue to establish ourselves as a leading player in the inland and coastal shipbuilding segment of the country. Strategically located along the Hooghly River, Hooghly-CSL is well positioned to contribute meaningfully to the Government of India's vision for promoting sustainable maritime growth, coastal shipping, and inland waterway transportation.

The state-of-the-art Nazirgunge facility, dedicated to the nation in August 2022, has begun to play a pivotal role in supporting the growing demand for quality shipbuilding and repair services on the eastern coast. During the reporting period Hooghly-CSL bagged an order for construction of two ASD Bollard Pull Tugs for Industrial Handling Private Limited. This is in addition to the previous order for two similar vessels awarded during FY 2024. Furthermore, in June, 2025, Hooghly-CSL signed a contract with Heritage River Journeys Private Limited for construction of a Luxury River Cruise vessel. Simultaneously, a letter of intent was also signed for construction of the second vessel. Our order book stands at approximately ₹225 Crores, and is optimistic about securing more orders in the years ahead.

It is heartening to note that our financial performance has shown a positive trajectory. While the Company continues to be in the early stages of its operations, we have been able to significantly reduce losses to ₹1,737.67 Lakhs in FY 2025 from ₹3,005.81 Lakhs in the previous year.

The success of Hooghly-CSL is built on the strength of our people. As on March 31, 2025, our team comprises 50 dedicated employees, whose contributions form the backbone of our progress. We have maintained a robust and harmonious industrial environment, ensuring that our operations are carried out with the utmost safety and efficiency. The recruitment process to fill the required additional manpower positions is underway in a phased manner, with the aim of ensuring optimal staffing levels within the Company. The Company has also been proactive in enhancing our health, safety, and environmental standards, evidenced by our Integrated Management System (IMS) certification.

The Company is committed to adopt the best Corporate Governance practices wherever possible and complies with the applicable DPE Guidelines on Corporate Governance. The Company also submits its quarterly progress reports on corporate governance within 15 days from the close of each quarter to the Ministry of Ports, Shipping and Waterways as recommended by the DPE in this regard. Further, the report on Corporate Governance prepared in compliance with the Guidelines on Corporate Governance for Central Public Sector Enterprises issued by the DPE is included in the Annual Report.

In the period following the financial year, Hooghly-CSL witnessed changes in its senior leadership. On behalf of the Board, I would like to extend my gratitude to Shri Bejoy Bhasker and Shri Sreejith K Narayanan for their contributions as Directors of the Company. We are delighted to welcome Shri Rajesh Gopalakrishnan and Shri Eldho John to the Board, and I am confident that their experience and expertise will further strengthen our growth journey.

I would also like to thank Shri Sanil Peter for his service as CEO during a critical transition phase and extend a warm welcome to Shri Sreejith K Narayanan as the new CEO of Hooghly-CSL. With his extensive experience in shipbuilding and leadership in CSL, we look forward to his guidance in steering the Company to new heights.

Further, recognizing the importance of strengthening our operational leadership, the Company has appointed Shri Arun Kumar Dash as the Chief Operating Officer (COO) to oversee the day-to-day functioning of the Yard and to ensure that our business plans are executed effectively. The Company has also absorbed a few officials from our Holding Company, Cochin Shipyard Limited, to support and fast-track the operations of Hooghly-CSL. With this strengthened leadership and technical expertise, the Company is well poised to achieve sustainable growth in the coming years.

Hooghly-CSL continues to support the Government of India's Make in India and Atmanirbhar Bharat initiatives by advancing domestic shipbuilding through indigenous manufacturing, adoption of green technologies, and development of modern infrastructure. With a strong emphasis on self-reliance, the shipyard is reducing import dependence, generating local employment, and nurturing specialized skills in marine engineering. By building next-generation vessels and fostering inland waterway development, Hooghly-CSL is contributing to India's vision of emerging as a global hub for sustainable shipbuilding while honouring the nation's rich maritime heritage.

Looking ahead, we remain optimistic about the opportunities that lie before us. With the combined strength of our state-of-the-art facilities, strong order book, dedicated workforce, and the continued support of our parent company, Cochin Shipyard Limited, I am confident that Hooghly-CSL will continue to grow and play a key role in shaping the maritime future of our nation.

Before concluding, I wish to convey my appreciation to the Hooghly-CSL management led by the CEO for their continued support, commitment and contribution. I also wish to place on record my sincere gratitude to all the Board Members for their valuable guidance and support. I also thank Hon'ble Minister, Secretary and other officials of the Ministry of Ports, Shipping and Waterways, the Directors and Senior Management of Cochin Shipyard Limited (CSL), officials of the Government of West Bengal and Syama Prasad Mookerjee Port (SMP), Kolkata, for their unwavering support and trust. I express my heartfelt gratitude to our customers and stakeholders for their continued trust and support. I also wish to convey my sincere thanks to the dedicated employees of the Company. Together, we shall strive to make Hooghly-CSL a leading name in the Indian shipbuilding industry.

Thank you.

Jai Hind