Mazagon-backed Colombo Dockyard pursues India opportunities

From left: S. Senthi Nandhanan, Vish Govindasamy, Chathura Wickrematileka, Ruchir Agrawal, Managing Director and CEO Thimira S. Godakumbura, Chairman Capt. Jagmohan (Retd) Biju George, Chaminda Gunasinghe, Chanaka Jayamaha and Dilrukshi Kurukulasuriya

Colombo Dockyard PLC is looking to expand its presence in India’s maritime sector, following its acquisition by India’s Mazagon Dock Shipbuilders Ltd (MDL), as the shipbuilder looks to leverage its new parent company’s industry connections to drive growth and strengthen its order pipeline.

The company said it plans to deepen engagement with major Indian maritime players, including Dredging Corporation of India and Shipping Corporation of India, as part of a broader strategy to expand its footprint in one of the region’s largest maritime markets.

The move marks one of the first clear indications of Colombo Dockyard’s post-acquisition strategy following MDL’s purchase of a majority stake in the Sri Lankan shipbuilder earlier this year. 

“The new strategic alignment with MDL is expected to unlock fresh growth avenues, enhance technical capabilities and strengthen Colombo Dockyard’s competitive position in the regional maritime sector,” the company said.

The plans were outlined at the company’s 43rd Annual General Meeting (AGM) held on June 25, the first AGM since MDL became the majority shareholder. The shareholders approved all resolutions, including the adoption of the financial statements and other statutory matters.

Chairman Capt. Jagmohan (Retd) described the partnership with MDL as a significant turning point for the company, saying it would help Colombo Dockyard scale operations and pursue new market opportunities. He also expressed confidence in the company’s management and workforce to support the turnaround effort.

Managing Director and Chief Executive Officer Thimira S. Godakumbura said the company would maintain a renewed focus on market expansion and operational efficiency while capitalising on the opportunities arising from stronger Indo-Sri Lanka maritime cooperation.

Despite a challenging global environment, Colombo Dockyard continued to record a steady performance across its shipbuilding, ship repair and heavy engineering businesses, he said.

With MDL’s backing, Colombo Dockyard said it aims to accelerate growth, deepen regional integration and reinforce its position as a key maritime services hub in the Indian Ocean.

The new board of directors include Chairman Capt. Jagmohan (Retd), Managing Director and CEO Thimira S. Godakumbura, Ruchir Agrawal, Biju George, Vish Govindasamy, S. Senthi Nandhanan, Dilrukshi Kurukulasuriya, Chaminda Gunasinghe, Chathura Wickrematileka and Chanaka Jayamaha.