Cochin Shipyard Limited (CSL) has been declared the Lowest Bidder (L1) in a significant tender floated by the Ministry of Defence for the construction of five Next Generation Survey Vessels (NGSV) for the Indian Navy. The estimated total order value for this substantial defense contract is approximately Rs. 5,000 crore. Final contract signing is contingent upon the successful completion of all necessary formalities.
CSL Declared L1 for Indian Navy Vessels
Cochin Shipyard Limited (CSL) has announced a major development following a meeting held today, February 16, 2026, at the Ministry of Defence in New Delhi. CSL has been officially declared as the L1 (Lowest Bidder) in the competitive tender process for the construction of 5 Next Generation Survey Vessels (NGSV) intended for the Indian Navy.
Significant Order Value
This crucial contract represents a significant boost to CSL’s order book. The estimated total order value associated with the construction of these five specialized vessels is approximately Rs. 5,000 crore. CSL noted that the announcement was made public through its filing with the stock exchanges, referencing the Scrip Code/Symbol 540678/COCHINSHIP.
Contract Finalization Contingencies
The company further clarified the next steps in the process. The final announcement of the contract is dependent upon the satisfactory completion of all necessary formalities required in this regard. Updates regarding the formal contract award will be provided in due course.
Disclosure of Interest
In adherence to corporate governance norms, CSL confirmed that none of its promoter or promoter group companies hold any interest in the entity that awarded this significant order. Furthermore, the order does not fall under the purview of related party transactions.
Source: BSE
