Mazagon Dock Shipbuilders Limited, which operates as India’s premier Defence Public Sector Undertaking under the Ministry of Defence, Government of India, has officially announced a landmark international expansion.

The company has successfully completed the acquisition of a controlling 51 per cent stake in Colombo Dockyard PLC, the largest shipyard in Sri Lanka. As a result of this financial transaction, Colombo Dockyard PLC has now formally become a subsidiary of the Indian shipbuilding giant.


The total investment made by Mazagon Dock Shipbuilders Limited for this majority shareholding is valued at 26.8 million US dollars. This move is particularly noteworthy as it represents the first international acquisition ever undertaken by the Mumbai-based shipbuilder.

It is viewed as a transformative step that aligns closely with the objectives of the Maritime Amrit Kaal Vision 2047, which seeks to bolster India's maritime presence and infrastructure on a global scale.

Following the change in ownership, the Board of Directors at Colombo Dockyard PLC has been restructured to include nominees from Mazagon Dock Shipbuilders Limited.

Capt Jagmohan (Retd), who serves as the Chairman and Managing Director of MDL, has been appointed as the Non-Executive Chairman of the subsidiary, with his tenure beginning on 7 April 2026.

Other key appointments to the reconstituted board include Mr Biju George, the Director of Shipbuilding at MDL, and Mr Ruchir Agrawal, the Director of Finance at MDL. These appointments ensure that the parent company’s leadership is directly involved in the strategic oversight of the Sri Lankan facility.

Consistency in operational leadership is maintained through Mr Thimira S. Godakumbura, who will continue in his current role as the Managing Director and Chief Executive Officer of Colombo Dockyard PLC. Additionally, the board welcomes Mr Vish Govindasamy, the Deputy Chairman of Sunshine Holdings PLC, who has joined the leadership team as an MDL Nominee Director.

ANI