Cochin Shipyard signed a ₹498.58 cr Defence Ministry deal to refit INS Betwa and convert its propulsion from steam to diesel.

The two sides signed the contract in New Delhi on 11 November, with Defence Secretary Rajesh Kumar Singh present.

The government-owned shipbuilder told exchanges the job should take about two years, and its filing puts the value at roughly ₹500 crore.

INS Betwa is a Brahmaputra-class frigate that runs on steam power today. The contract replaces that system with diesel engines.

Re-powering simply means fitting a ship with a new engine system. The refit does not stop at engines.

A modernised weapon suite will also go onboard, which the ministry says will make the ship more effective in operations.

The ministry calls the propulsion change a complex piece of work.

More than 50 micro, small and medium enterprises are expected to join the project, and the ministry expects new jobs across India’s shipbuilding and related industries.

It also says the contract supports the ‘Make in India’ push by building home-grown repair skills. Repair work is already growing at the yard.

In the September quarter, ship repair revenue rose 30% to ₹466 crore, while shipbuilding revenue rose 3% to ₹783 crore.

Total revenue from operations climbed 12% to ₹1,249.2 crore, though net profit halved to ₹53.7 crore from ₹107.7 crore a year earlier.

The board has also declared a first interim dividend of ₹3 per share on a face value of ₹5. The record date is 16 November, and payment follows on 9 December.

Cochin Shipyard is owned by the Government of India and was set up in 1972.

It builds and repairs vessels for naval, commercial and offshore clients, with the Indian Navy, Indian Coast Guard and Shipping Corporation of India among its main domestic customers.

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