Reliance Naval & Engineering Ltd
Reliance Naval & Engineering Ltd (RNAVAL)

Reliance Naval & Engineering Ltd (RNAVAL)

₹2.853.39%

Key Stats

₹2.85
Day's Price Range
₹2.95
₹2.65
52-Week Price Range
₹5.55
1 Month Return0 %
3 Month Return3.5 %
1 Year Return0 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 260
-0.12
EPS
Rank 251
₹-26.78
BVPS
Rank 284
₹-165.1
Dividend Yield
Rank 133
ROE
Rank 326
Price To Book Ratio
Rank 233
-0.02
Debt To Asset
Rank 6
3.56

Company Information

Reliance Defence and Engineering Limited RDEL formerly Pipavav Defence and Offshore Engineering Company LimitedPDOECL has the largest engineering infrastructure in India and is one of the largest in the world RDEL is the first private sector company in India to obtain the licence and contract to build warships.RDEL was incorporated on October 17 1997 as Pipavav Ship Dismantling and Engineering Ltd. In October 1998 the company acquired the ship dismantling business of GPPL a company originally promoted by SKIL. Also the company was granted a sublease by GPPL for the establishment and operation of a ship dismantling repair and building facility in Pipavav Port during the same period.In April 2005 ILFS one of the leading infrastructure finance companies in India became a shareholder of the company. Also the company changed their main business from ship dismantling to shipbuilding ship repairing and the name of the company was changed from Pipavav Ship Dismantling and Engineering Ltd to Pipavav Shipyard Ltd to reflect the change in the primary business focus of the company. The Government banking institutions EXIM Bank and IDBI also took stakes in the company as well as private fund UTI.In January 2006 the company entered into a Technical Assistance Agreement with SembCorp in which SembCorp agreed to assist the company in the planning designing and construction of the Pipavav Shipyard. In September 2006 they entered into a Basic Agreement for Technical Cooperation with KOMAC in which KOMAC agreed to supply designs and provide technical services for the Companys shipbuilding project. In October 2006 the company entered into a share purchase agreement with Metdist Industries Holdings Ltd in which E Complex became a wholly owned subsidiary of the company. In November 2006 the company secured the order for construction of four 74500 DWT Panamax bulk carriers from Golden Ocean Group Ltd. Also they entered into an agreement with Golden Ocean Group Ltd for the construction of two optional ships.In December 2006 the company secured their second order for of four 74500 DWT Panamax bulk carriers from SETAF SAS France. Also they secured orders for 74500 DWT Panamax bulk carriers from the AVGI Maritime Services S A.In September 2007 Punj Lloyd Ltd acquired 19.43 of equity shares of the company and became a promoter of the company with an understanding that Punj Lloyd Ltd will carry out their offshore business in India through the company and thereby expand the companys business to include offshore fabrication and construction. Also several other major financial players became shareholders in the form of foreign equity investors.In January 2008 the company received the approval from the Development Commissioner Kandla SEZ for setting up a unit in the SEZ being developed by E Complex in villages Rampara and Lunsapur for undertaking authorized operations of manufacturing ships vessels hulls and offshore activities. In February 2008 the company commenced steel cutting for the construction of first four ships. The company commenced commercial production with effect from April 1 2009. In June 2009 the company received a notification of award of contract of 12 OSVs from ONGC.In March 2010 Punj Lloyd Ltd sold their entire stake of 19.43 in the company to their copromoter SKIL Infrastructure Ltd for Rs. 656 crore througn an interse promoter transfer.In 201011 the company received the industrial license to build defence vessels and entered into building of aircraft carrier frigates submarines. In May 2011 the company bagged its first large order valued at Rs. 2975 crores to build five warships viz Naval Offshore Patrol Vessels for India.During the year 201213 the company entered into Joint Venture with Mazagon Dock Ltd Indias premier defence public sector undertaking. It is one of the first Indian private sector companies to be selected for this Joint Ventures. This will contribute to speedy execution of Mazagon Docks existing order book.In 201314 the company selected by the petroleum ministry of Government of India as one of the three shipyards in India for building the first four indigenous LNG carriers each of approximately 180000 Cu. Mtrs. This is a revolutionary step for development of LNG vessel technology in India.During the year 201415 Reliance Infrastructure Ltd and its wholly owned subsidiary Reliance Defence Systems Pvt Ltd part of the Reliance Group leads by Shri Anil Dhirubhai Ambani have agreed to acquire from the present promoters of Pipavav Defence approximately 17.66 per cent shareholding in the company. consequently on completion of the open offer and transaction the management control of Pipavav Defence will rest with the Reliance group and Shri Anil Dhirubhai Ambani will be the chairman of the company.In January 2016 Reliance Defence Systems Pvt Ltd and Reliance Infrastructure Ltd acquired the management control of the company. Consequently the name of the company was changed from Pipavav Defence and Offshore Engineering Company Limited to Reliance Defence and Engineering Ltd. After this aquisition Shri Anil D Ambani has been appointed as chairman of the company.
OrganisationReliance Naval & Engineering Ltd
HeadquartersAmreli
IndustryShip Building