Bharati Shipyard Limited (BSL) was founded in 1973 in Ratnagiri, Maharashtra by Prakash C. Kapoor and Vijay Kumar, graduates of the Ocean Engineering & Naval Architecture program at Indian Institute of Technology, Kharagpur, as well as colleagues at Mazagon Dock Limited.

[3] In November 2010, BSL acquired a majority stake in South India based Tebma Shipyards for INR 757.5 Million.

[4] BSL bought the entire equipment and infrastructure of the iconic British shipyard, Swan Hunter, in 2007, after it declared bankruptcy.

The infrastructure, including the iconic cranes and the floating dock, was dismantled, transported to India, and installed at BSL's Dabhol yard.

In March 2009, it was awarded a ₹2.8 billion (US$32 million) contract to build 15 high-speed interceptors for the Indian Coast Guard.