The buyer is a Ghatge Patil Group company, which has paid INR 550 ($9m) for 14 wind turbine generators capable of producing a combined 15 mega watts (MW) of power in Maharashtra, Live Mint reported.

The yard has debts of INR 80bn. Eleven of its 23 lenders have sold their loans of INR 48bn to Edelweiss Asset Reconstruction.

The country's second-largest private shipbuilder posted a net loss of INR 365m in the fourth quarter to 31 March, against a profit of INR 382.3m