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Competitive Strengths

Here’s an analysis of GRSE’s key strengths that differentiate us from our competitors and make our esteemed customers recognize us with repeat orders.

Modern Manufacturing Platform and Integrated Shipbuilding Facilities to deliver quality products

The modern infrastructure facilities available at our shipyard coupled with our vast expertise give us a significant edge over other domestic defence shipyards. Our company has been taking steps to ensure simplification in the process and procedures, adopt modern practice and technology, enhance capacity, modernize infrastructure and improve on governance.

Our organization has undertaken major modernization of its infrastructure. In 2013, we developed a new integrated shipbuilding facility at the Main Works Unit that paved the way for us to use modular construction in building warships. This in turn enabled us to reduce the shipbuilding period, improve quality through the implementation of integrated construction technology, and to construct ships in line with the global practices in the shipbuilding industry. Our facilities allow us to produce eight (8) large ships and twelve (12) medium/ small ships concurrently. In addition, we have constructed new hull shop, module shop for mega block integration, dry dock and building berth. Our advanced modular construction technique enables us to simultaneously build a greater number of large warships in a more truncated time period at the Main Works Unit. Our Main Works Unit is supported by our FOJ Unit, which is dedicated to fitting out and repair of ships. Fitting out follows the float-out of a vessel and precedes sea trials. Our company’s in-house facilities are also augmented by hiring larger dry docks of the Kolkata Port Trust on an as-and-when-required basis. GRSE has also recently inaugurated the modern pump test bed facility at Taratala unit on June 11, 2018 for testing the pumps we manufacture.

While we have been enhancing our infrastructure, in parallel, improvements and upgrades of design capabilities, new technology, methods and adoption of quality initiatives have also been undertaken and progressing. To further increase our construction capacity, we use Rajabagan Dockyard exclusively for the construction and fitting out of small and medium ships. The Rajabagan Dockyard facilities are further being upgraded for construction of more small and medium ships.

Further, we completed the modernisation of our DEP unit in Ranchi in 2016. The modernization was intended to create a new, state-of-the-art diesel engine assembly shop that would enable carrying out overhaul and assembly of engines in a dust-and-moisture-proof environment. With the commissioning of our “Modernised Diesel Engine Assembly Shop”, we believe our DEP unit is poised to take up work on the next generation of marine diesel engines and also move ahead to produce marine diesel engines under the 'Make in India' initiatives.

End-to-End solutions

We have a dedicated Central Design Office (“CDO”) that undertakes design and research & development. The office comprises of a highly skilled workforce of one hundred (100) members as on date of the Red Herring Prospectus, majority of whom are engineers qualified from IIT and other premier institutes. Our CDO team uses various software ranging from Aveva Marine, NAPA for Naval Architectural design to AutoCAD for drafting work to other software for structural analysis. Our dedicated CDO team has helped us adopt innovative measures in carrying out complex warship design work. A case in point is the landing craft utility mark IV, an in-house design product with 15 knots speed, which is quite unique for a vessel of this size and type. Additionally, our organization has also inaugurated the Data Centre of CDO on June 1, 2018 and the virtual reality lab of CDO on July 7, 2018 at 61 Park Unit.

Our ability to provide end-to-end solutions to our customers, ranging from Product Conceptualization, Design and System Integration to Project Management enhances our capability to meet customer demands. Once a customer approaches us with a project proposal, we utilize our resources to try and execute the entire project from design stage to delivery of the finished product. This provides us a heightened level of understanding with respect to meeting our customers’ needs. Also, we believe that designing the ship we deliver will allow us to gain a greater understanding of the ship we are expected to build and also control over the manufacturing process. Since we manage the project in its entirety, we have dedicated production lines for independently managing the construction of small/ medium and large ships. We gain more efficiencies than some of our competitors who participate in the construction of ships, but who do not participate in other stages of the project. Further, compared to our competitors, we avoid a significant amount of reliance on third-parties execute an order.

Partnership with Indian Navy and Indian Coast Guard

We have established long-standing relationships with the Indian Navy and Indian Coast Guard. Our relationship and experience with the Indian Navy is over five (5) decades, beginning with our delivery of INS Ajay, the first indigenous warship, to the Indian Navy in 1961. These relationships allow us to secure shipbuilding projects. We have delivered ninety six (96) ships to the Indian Navy and Indian Coast Guard on an aggregate basis. Both our historical operations and ongoing operations exhibit the level of satisfaction and depth of relationships we possess with respect to the Indian Navy and Indian Coast Guard. We have historically delivered ships to the Indian Navy and Indian Coast Guard that no other indigenous shipbuilding companies have delivered to them.

  • In 2000, we became the first and only Indian shipyard to build and subsequently deliver a fleet tanker to the Indian Navy and to build and subsequently deliver a hover craft to the Indian Coast Guard.
  • In 2009, we became the first and only Indian shipyard to build and subsequently deliver a landing ship to the Indian Navy.
  • In 2017, we built and delivered to the Indian Navy, for the first time in our Company’s history, warships that have weapon and sensors trials completed which until then were undertaken at various Indian Navy facilities post delivery of warships. (Source: ICRA
  • In 2017, we built and delivered INS Kiltan, an anti-submarine warfare stealth corvette and the first Indian warship with a superstructure made entirely of composite material.
  • We also have several ongoing projects with the Indian Navy and Indian Coast Guard. In the Fiscals 2018, 2017 and 2016, we have built and delivered a total of nine (9) ships to the Indian Navy.

Robust Order Book

Our aggregate order book as on July 31, 2018 was ₹203,136.10 million, comprising gross order value in the shipbuilding segment, engineering segment and the engine segment of ₹200,294.20 million, ₹851.70 million and ₹1,990.20 million, respectively. The aggregate value of our order book represents the total nominal value of the contracts that have not been completed, excluding the portion of revenue in respect of those orders that we have recognized as of such date.

Our current order book provides us with a deep pool of revenue-generating projects. The revenue generated from our order book allows us to invest in our design capabilities and facilities in order to become more efficient and technologically sophisticated. We currently have contracts to deliver twenty (20) ships to the Indian Navy and Indian Coast Guard, out of which seven (7) ships have been delivered. A number of those ships are large, advanced vessels that deliver significant profit margins of the ships we construct. The shipbuilding contracts that we enter into with our customers stipulate the agreed specifications of the vessel and classification of the society with which the vessel is intended to be certified. Typically, we are at liberty to subcontract any portion of the construction work of the vessel to subcontractors, other than a few major sub-contract tasks such as the main hull structure and superstructures for which we require prior approval of the client.

However, our order book information is only indicative of future revenues.

Make in India Initiative

GRSE has an advantage over global shipyards in securing contracts to build vessels for the Indian Navy and Coast Guard as we qualify for the Make in India initiative under the DPP. The Make in India initiative grants indigenous manufacturers a competitive advantage when supplying to the domestic market. The MoD has given the highest priority to Indigenously Designed, Developed and Manufactured (IDDM) products for capital procurement. Our valued customers, the Indian Navy and Indian Coast Guard, constitute part of the domestic market and are therefore, required to give us preference over global shipyards in certain circumstances. As part of the Make in India initiative, we have internally put in considerable efforts to increase the percentage of indigenization over the last few years. We have made significant progress in indigenization of our products in terms of value of production during the last year.

Business Diversification

Shipbuilding is our key product offering. In addition to our core manufacturing activities for shipbuilding, we offer diversified products and services to our customers including Portable Bridges, Deck Machinery items, Pumps and Engines. We produce bridges at our 61 Park Unit and Taratala Unit which enable us to counterbalance the cyclical nature of the shipbuilding income stream. We believe our product diversification allows us to rely on different product areas to generate revenue when the market conditions dictate a dip in demand for shipbuilding.

Further, we are the only shipyard in India with a dedicated deck machinery equipment facility or an engine assembling and testing facility, both of which are important for the shipbuilding and testing process. In the absence of such facilities, our competitors approach third-party companies to complete such tasks related to deck machinery and engine assembly and testing. This vertical integration enables us to produce ships in a more time-efficient manner because of our non-reliance on third-parties.

Experienced Workforce

Our qualified and experienced senior management team and technically skilled employees have contributed to the growth of our operations and the development of in-house processes and competencies. Our human resource policies are aimed towards enhancement of institutional knowledge and skills. Our human resource department has active initiatives in place to further develop the skills and knowledge of our employees.

Our senior management team consists of technically qualified and experienced professionals who bring to the table extensive experience in shipbuilding, design and engineering, order management, operations, human resources, finance and after-sales services. We believe in high standards of ethical integrity and ensure that all our business functions are carried out in a transparent manner. We believe our talented and motivated employees have been the key to our success so far and will further enable us to capitalize on future growth opportunities.

Awards and Accolades

Our outstanding work in the sphere of shipbuilding has fetched us innumerable laurels over the years.

Certifications

We hold several certifications and accreditations including the TUV Nord’s Certificate affirming that the Management Systems of the Company for manufacturing of ships are as per ISO 14001:2004 and BS-OHSAS 18001-2007 and the Indian Register Quality Systems Certificate affirming that the Management Systems of the 61 Park Unit are as per ISO 9002 – 1994/ EN ISO 9002 – 2014. We have also received ISO 9001:2008 or ISO 9001:2015 accreditation for all our facilities for quality management systems.

Major Milestones in GRSE’s History

The table below showcases the key events in the history of our company:

Calender Year

Major Achievements

1961

Built the indigenous warship of the country INS Ajay, which was the first Naval ship built in the country after India's independence.

1980

Built the patrol vessel for Indian Coast Guard, CGS Rajhans (GRSE Yard 2003).

1981

Designed and built survey vessel for Indian Navy. This 1900-ton ship, INS Sandhayak was delivered on February 26, 1981.

1984

Designed in-house and built the first of class landing ship tank (large).

1992

The class ship of new design FPV, CGS Priyadarshini (our Company Yard 2031) was delivered to Indian Coast Guard on March 03, 1992.

1994

The class P-16A guided missile frigate “INS Brahmaputra” (our Company Yard 3009) was launched on January 26, 1994.

Built research vessel.  The ship was named as “Sagardhwani” which means 'Sound of Sea”.

1997

Designed & developed, portable steel bridges for the first time in India.

2000

Built and delivered the class fast attack craft (our Company Yard No. 2047) on September 11, 2000 after extensive trials.

2009

The two WJ-FAC, INS Carnicobar and INS Chetlat were delivered on January 09, 2009 to Indian Navy.

2011

Our Company signed the contract for building CGS Barracuda, a multi-role offshore patrol vessel for National Coast Guard of Mauritius on March 04, 2011 for export of a warship. CGS Barracuda also has the distinction of being the first ever ship to be built at the new integrated shipbuilding facility, created in our Company under modernization.

2014

The class ASW Corvette, INS Kamorta, was delivered to Indian Navy on July 12, 2014.

2016

The first of the four (4) follow-on WJ-FAC, INS Tarmugli (Yard No 2109) was delivered to the Indian Navy on April 16, 2016.

2016-2017

Two ships of the class new generation landing crafts have been delivered to Indian Navy on September 30, 2016 and July 20, 2017.

2017

The class ASW Corvette, INS Kiltan (Yard No 3019) was delivered to the Indian Navy on October 14, 2017.

2018

Delivery of fourth LCU ‘L-54’ to Indian Navy on April 6, 2018.

2018

Inaugration of Data Centre of Central Design Office at GRSE’s 61 Park Unit on June 1, 2018.

2018

Inaugratiion of modern Pump Test Bed Facility at GRSE’s Taratala unit on June 11, 2018.

2018

Inaugration of Virtual Reality Lab of Central Design Office at 61 Park Unit on July 7, 2018


Awards and Recognitions

Be it in the sphere of Employee Satisfaction, Client Service, Women Empowerment or Social Responsibility, GRSE has always upheld high standards. Laurels have sought us along our path of dedicated service. Some of the awards and honours are listed here:

Year of Award

Award

2006

Accorded the status of Mini Ratna - Category I

2010-11

Best Performing Defence Shipyard

2010-11

Excellent grading under MoU signed with the GoI

2011-12

Best Performing Defence Shipyard

2011-12

Excellent grading under MoU signed with the GoI

2011-12

Indira Gandhi Rajbhasha Puraskar – 2nd prize in ‘C’ region for the implementation of official language Hindi in our Company

2012-13

Best Performing Defence Shipyard

2012-13

Indira Gandhi Rajbhasha Puraskar – 1st prize in 'C' region for implementation of official language Hindi under PSU category

2012-13

Excellent grading under MoU signed with the GoI

2013-14

Best Performing Defense Shipyard

2013-14

Excellent grading under MoU signed with the GoI

2014-15

National Talent Management Leadership Award 2015 in the Best Onboarding Program category from the World HRD Congress

2014-15

Most Caring Company Award at CSR Congress-2015

2014-15

Rajbhasha Kirti Puraskar – 2nd prize in ‘C’ region for excellence in implementation of official language policy under PSU category

2015-16

Raksha Mantri’s Award for in-house design effort of CGS Barracuda

2015-16

Rajbhasha Kirti Puraskar – 1st prize for excellence in implementation of official language in our Company.

2016

Quality leadership award by Quality Circle Forum of India

2016

Rajbhasha Kirti Puraskar – 2nd prize for excellence in implementation of official language

2016

Rajbhasha Kirti Puraskar – 2nd prize for the magazine ‘Rajbhasha Jagriti’

2017

Quality Leadership Award by Quality Circle Forum of India

2017

Runner-up in the category of ‘Contribution of Women in PSEs’ by ICC

2017

Runner-up in the category of ‘Human Resource Management’ by ICC

2017

Runner-up in the category of ‘CSR & Sustainability’ by ICC

2017

ICC PSE Excellence Award in the category of “Company of the Year”

2017

ICC PSE Excellence Award in the category of “Corporate Governance”

2017

SCOPE Corporate Communication Excellence Award 2017 in the category of Brand Building through Inclusive Growth Initiatives

2017

SCOPE Corporate Communication Excellence Award 2017 in the category of Best Corporate Communication Campaign/ Program (External)

2018

ET Bengal Corporate Award on Best CSR Idea - 2018 awarded by the Economic Times Group

 

Accreditations and Certifications

The list of our accreditations and certifications is also an elaborate affair:

Certificate

Issued on

Valid Till

Particulars

Main Works Unit

ISO 14001:2004 - Management System

 July 30, 2017

September 14, 2018

TUV NORD CERT certified the management system of our Company in line with the standard of ISO 14001-2004 for the scope of manufacturing of ships

BS OHSAS 18001:2007 - Management System

July 30, 2017

July 29, 2020

TUV NORD CERT certified the management system of our company in line of the standards of BS OHSAS 18001:2007 for the scope of manufacturing of ships

ISO 9001:2015 - Quality Management System Standard

December 13, 2016

December 12, 2019

Indian Register Quality Systems certified the management system of Main Works Unit and Design Office to conform to the quality management system standard of ISO 9001:2015 for ship design, ship building and ship repair.

61 Park Unit

ISO 9001: 2015 - Quality Management System Standard

June 22, 2018

June 22, 2021

Indian Register Quality Systems certified the management system of our Company to conform to the quality management system standard of ISO 9001:2015 for design, manufacture and supply of portable steel bridges.

FOJ Unit       

ISO 9001:2015 - Quality Management System Standard

December 13, 2016

December 12, 2019

Indian Register Quality Systems certified the management system of our Company to conform to the quality management system standard of ISO 9001:2015 for ship design, ship building and ship repair.

Deck Machinery Taratala Unit

ISO 9001: 2015 - Quality Management System Standard

June 27, 2018

June 26, 2021

Indian Register Quality Systems certified the management system of our Company to conform to the quality management system standard of ISO 9001:2015 for design, development, manufacture, supply and service of Deck Machinery equipment and its accessories

Rajabagan Dockyard

ISO 9001: 2008 - Quality Management System Standard

January 30, 2016

September 14, 2018

Indian Register Quality Systems certified the management system of our Company to conform to the quality management system standard of ISO 9001:2008 for ship building, delivery of ships after sea trial and post delivery services.

Baranagar Training Centre Unit

ISO 9001: 2008 - Quality Management System Standard

 

January 6, 2016

September 14, 2018

Indian Register Quality Systems certified the management system of our Company to conform to the quality management system standard of ISO 9001:2008 for training of trade apprentices and marine engineers.

DEP, Ranchi Unit

ISO 9001:2008 - Quality Management System Standard

October 22, 2015

October 21, 2018

Indian Register Quality Systems certified the management system of our Company to conform to the quality management system standard of ISO 9001:2008 for manufacture and supply of diesel engines including assembly, testing and servicing of engines, fabrication and machining of general engineering items.

 

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Last Reviewed and Updated on 20 August 2019

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