Press Releases 2021-2022

PRESS RELEASE
GRSE Pays Interim Dividend of Rs. 56.70 Crores for FY 2021-22: Hands Over Dividend Cheque to Government of India

New Delhi, 31 Mar 22: Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India, has paid an interim dividend of Rs. 56.70 Crores for FY 2021-22 to its shareholders. The Interim Dividend Cheque amounting to Rs. 42,24,39,138/- as the government’s share was handed over to Hon’ble Raksha Mantri Shri Rajnath Singh, by Cmde P R Hari, IN (Retd), Chairman & Managing Director (Officiating) of GRSE Ltd. Kolkata, today at New Delhi in the presence of Dr Ajay Kumar, Defence Secretary, Shri Sanjay Jaju, Additional Secretary (Defence Production), Shri Surendra Prasad Yadav, Joint Secretary (Naval System) and Shri RK Dash, Director (Finance), GRSE.

GRSE has declared an interim dividend of Rs. 4.95 per equity share of Rs.10 for FY 21-22 against Rs.3.85 in FY 20-21, reflecting a remarkable increase of 28.57 %. GRSE has been consistent in paying dividend to the Shareholders and has done so every year for the last 28 years. The company has strong order book position of Rs 24,605 Crs. as on 31 Dec 21.

PRESS RELEASE
GRSE’s CSR INITIATIVE WITH INDIAN INSTITUTE OF CEREBRAL PALSY

Kolkata, 30 Mar 22: GRSE has a long association with Indian Institute of Cerebral Palsy (IICP) dating back to 2009. GRSE has been adopting 02 Education Development Units (EDU IV &V) and 01 Vocational Training Unit called Life Skill Training Unit (LSTU). The 03 classes covering 43 special children (as on date) who have severe multiple impairments are being supported by GRSE through this project since 2011-12.

GRSE has a long association with Indian Institute of Cerebral Palsy (IICP) dating back to 2009. GRSE has been adopting 02 Education Development Units (EDU IV &V) and 01 Vocational Training Unit called Life Skill Training Unit (LSTU). The 03 classes covering 43 special children (as on date) who have severe multiple impairments are being supported by GRSE through this project since 2011-12.

In FY 2021-22, GRSE is providing financial support of Rs. 17.68 lakh for this project under its CSR initiative. The children of IICP staged a colourful cultural programme which was followed by handing over of the ceremonial cheque by Cmde PR Hari, IN(Retd.), C&MD (Officiating), GRSE in the presence of Sri R K Dash, Director (Finance) and other senior officials of GRSE.

PRESS RELEASE
Celebration of Women’s Day in GRSE

Kolkata, 25 Mar 22: GRSE celebrated International Women’s Day on 24 March 2022, organizing a “Day-Out Programme” for all the lady employees. Ladies from all the Units of the Company participated in the Event. Group activities and scintillating cultural performances added to the fun and frolic. Cmde P R Hari, IN (Retd), CMD, GRSE was the Chief Guest at the Event. Senior Officials of GRSE graced the occasion and their presence was a motivation for one & all.

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PRESS RELEASE
GRSE INKS STRATEGIC MOU WITH BORDER ROADS ORGANISATION: 27 NOS. GRSE MAKE, FIRST OF ITS KIND MODULAR DOUBLE-LANE STEEL BRIDGES, TO BE SUPPLIED


KOLKATA, 16 MAR 2022: Facilitating roadway infrastructure development in difficult terrains of India, Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India, signed a Memorandum of Understanding (MoU) with Border Roads Organisation (BRO) for the fabrication, supply, erection and launching of first-of-its-kind, 27 nos. double-lane Class 70 modular steel bridges in border areas. The two year contract worth Rs. 65 Crore (approx.) was inked by Director General Border Roads Organisation, Lt Gen Rajeev Chaudhary and Cmde PR Hari, IN (Retd.), Officiating Chairman & Managing Director, GRSE, in New Delhi on 15 Mar 22. These bridges have been designed in-house by GRSE & all components have been manufactured with 100% indigenous raw materials, in line with India’s Aatmanirbhar Bharat Abhiyaan. Live load testing had been completed successfully on the prototype and connectivity through these bridges shall be an ideal solution for strategic roadway infrastructure development in North & North-East India. The first bridge of this kind, was constructed at Flaghill, Dokalam, Sikkim at an altitude of 11,000 feet under Project Swastik of the BRO, inaugurated by Defence Minister Shri Rajnath Singh on 28 December 2021. The bridges have a carriageway width of 7.5 meters, permitting plying of two-way traffic in compliance with specifications laid down by the National Highways Authority of India (NHAI). High tensile steel of Grade E-410 ensures high strength, long life and low temperature applications. The galvanized surface finish ensures easier maintenance and longer service life. Load Class IRC 70R permits movement of both Wheeled/ Tracked Vehicles of up to 100 / 70 MT. The modular concept ensures easier transportation of bridge components to remote areas and faster erection of bridges in a short span of 30 to 45 days. GRSE has delivered more than 5300 Portable Steel Bridges to Indian Army, Border Road Organisation and State Governments & exported to friendly neighbourhood countries including Nepal, Bhutan, Sri Lanka & Myanmar.

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PRESS RELEASE
GRSE Bids Farewell to CMD Rear Admiral VK Saxena
Kolkata, 02 Mar 22: Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India, bid farewell to CMD Rear Admiral VK Saxena, IN (Retd.) on 28 Feb 2022. After an illustrious career spanning over three decades in the Indian Navy, Rear Admiral VK Saxena, took over as Chairman and Managing Director of GRSE on 01 Mar 17. Right from day one Admiral VK Saxena’s leadership as CMD GRSE has been marked by remarkable adroitness in making his vision a reality while putting people first and celebrating targets together. It was in his tenure that GRSE achieved the distinction of delivering 15 warships in a short span of 60 months. Under the dynamic leadership of Admiral VK Saxena, GRSE also created history by delivering the “100th Warship”, a Landing Craft Utility, L-56 on March 30, 2019, to the Indian Navy. With this achievement, the GRSE became the first Indian Shipyard to build and deliver 100 warships to our Maritime Forces. It is because of his insight, and ability to think out of the box, that GRSE has clinched highly coveted deals. The Shipyard is currently executing 06 prestigious projects of 23 ships including ships for exports. Thanks to Rear Admiral Saxena’s vision on raising the bar higher in the sphere of infrastructure enhancement, GRSE is now positioned to construct 20 ships concurrently using state of the art Advanced Modular Integrated Shipbuilding Technology and modernisation of facilities in all three ship production locations. With Admiral VK Saxena’s focused approach towards capacity enhancement GRSE has remained committed towards adopting AI enabled operations in Design, Production and Supply Chain Management. Today the DPSU is all set for major transformation powered by knowledge, skill, operational capabilities, brand equity, and a dedicated Team. His striking leadership qualities have been duly recognised not only by the people he worked with but also by Awards conferred to him in person. It was a proud moment when on 15 Jul 21 Admiral V. K. Saxena was conferred with ‘CEO of the Year’, award at Asian Leadership Awards 2021. Being recognized as one of the “Next Fortune 500 Companies of India” is another distinguished laurel received by GRSE recently.

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PRESS RELEASE
GRSE Bags Twin Awards at ICC PSE Excellence Awards 2021:
Winner in ‘CSR and Sustainability’ & Runner up in ‘Corporate Governance’ Category
Kolkata, 26 February, 22: Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India was conferred with two major awards in the categories of ‘CSR and Sustainability’ (Winner)&‘Corporate Governance’ (Runner up) at a virtual ceremony of 11thICC PSE Excellence Awards. The awards were announced by Dr Bhaskar Chatterjee, Former Secretary of Department of Public Enterprises (DPE) and Chief of the Jury Committee.
The PSE Excellence Awards is an initiative by Indian Chamber of Commerce, to acknowledge the efforts of PSEs and their extraordinary contribution in shaping up the Indian economy. PSE Excellence Awards was started in the year 2010 by ICC along with Department of Public Enterprises, Ministry of Heavy Industries, Government of India. These awards are conferred in Operational Performance Excellence, Corporate Governance, Human Resources Management Excellence, R&D & Technology development, CSR & Sustainability, Best Turnaround, Innovation in Business and Company of the year categories.

PRESS RELEASE

 

Performance Review Q3 & Nine Months ended FY22

 

 

Highlights of financial performance

(i) Nine Months ended FY 22 in comparison to Nine Months ended FY 21

• Revenue from Operation increased by Rs. 471 Crs, registered a growth of 63%.

• Growth of EBITDA and PAT by 47% and 49% respectively over Nine Months period of FY 21.

(ii) Q3 FY 22 in comparison to Q3 FY 21

• Revenue from Operation increased by Rs.127 Crs, registered a growth of 35%.

• Growth of EBITDA and PAT by 18% and 9% respectively over Q3 of FY 21

(iii) Q3 FY 22 in comparison to Q2 FY 22

• Revenue from Operation increased by Rs 65 Crs, registered a growth of 15%.

• Growth of EBITDA and PAT by 5% and 7% respectively over Q2 of FY 22.

Nine Months ended FY22 Compared with Nine Months ended FY21:

 

  • The Total Income stood at Rs.1332.76 crore in Nine Months ended FY22 as against Rs 878.66 crore in Nine Months ended FY21 increase of Rs.454.10 Crs. Improved by 52%
  • Revenues from operations for the Nine Months ended December 31st, 2021 stood at Rs. 1212.90 crore as compared to Rs. 742.00 crore in Nine Months ended December 31st , 2020, Improved by 63%
  • The Earnings before Interest, Tax, Depreciation and Amortization (Core EBITDA) stands Rs. 221.07 crore in Nine Months ended December 31st, 2021, as against Rs 150.43 crore in Nine Months ended December 31st , 2020 . Improved by 47%. & The Company’s EBITDA margin stood at 17%
  • Profit Before Tax (PBT) stood at Rs. 194.05 crore for Nine Months ended December 31st , 2021 as compared to Rs 128.58 crore in Nine Months ended December 31st, 2020. Improved by 51% & The Company’s PBT margin stood at 15%
  • Operating Profit is Rs 45.44 Crs. In Q2FY22 in comparison to Rs. (5.69) Crs. In Q1FY22 i.e increases by Rs. 51.13 Crs over last year of Q2 FY 21
  • Profit After Tax (PAT) reported stood Rs. 142.33 crore in Nine Months ended December 31st, 2021 as against Rs. 95.47 crore in Nine Months ended December 31st, 2020. Improved by 49% & The Company’s PAT margin stood at 11%
  • Operating Profit is Rs 45.44 Crs. In Q2FY22 in comparison to Rs. (5.69) Crs. In Q1FY22 i.e increases by Rs. 51.13 Crs over last year of Q2 FY 21
  • Earnings per share (EPS) for the Nine Months ended December 31st, 2021 stood at Rs 12.42 as compared to Rs 8.33 in Nine Months ended December 31st, 2020

Q3 FY22 Compared with Q3 FY21:

 

  • Revenue from operation is Rs.486.89 crore in Q3 FY22 as against Rs.359.60 crore Q3 FY21 increased by Rs 127 Crs. Improved by 35 %
  • The Company’s EBITDA stood at Rs 95.80 Crs. as against Rs. 80.91 Crs. of Q3 FY21 increased by Rs 15 Crs. Improved by 18 %.
  • Profit Before Tax (PBT) stood at Rs.85.95 crore for Q3 FY22, as against Rs. 72.97 Crs. in Q3 FY21 increased by Rs 13 Crs. Improved by 18%.
  • Profit After Tax (PAT) stood at Rs. 62.95 crore for Q3 FY22, as against Rs.57.62 Crs. in Q3FY21 increased by Rs. 5 Crs. Improved by 9%
  • Earnings per share (EPS) for the quarter ended Q3FY22 stood at Rs 5.49 as compared to Rs 5.03 in Q3FY21.

Q3 FY22 Compared with Q2 FY22:

 

  • Revenue from operation is Rs. 486.89 crore in Q3 FY22 as against Rs. 421.83 crore of Q2 FY22 increased by Rs 65 Crs. Improved by 15%
  • The Company’s EBITDA stood at Rs 95.80 Crs. as against Rs. 91.13 Crs. of Q2 FY22 increased by Rs. 5 Crs. Improved by 5%
  • Profit Before Tax (PBT) stood at Rs 85.95 crore for Q3FY22, as against Rs. 81.65 Crs. in Q3 FY21 increased by Rs. 4 Crs. Improved by 5%
  • Profit After Tax (PAT) stood at Rs. 62.95 crore for Q3FY22. as against Rs. 58.79 Crs. In Q2 FY22 increased by Rs 4 Crs. Improved by 7%
  • Earnings per share (EPS) for the quarter ended Q3FY22 stood at Rs 5.49 as compared to Rs 5.13 in Q2FY22

Commenting on the results, Rear Admiral V.K.Saxena, IN (Retd.), Chairman & Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “During the first, second and third wave of the COVID-19 pandemic, the company effectively managed the challenges and made commendable progress to accomplish operational success. As a result, the shipyard could successfully continue concurrent construction of 17 ships in different stages that include launching of the ‘First of Class’ Indigenous Survey Vessel (Large) for Indian Navy on 05 Dec 21, laying keel of the Ocean-Going Passenger cum Cargo Vessel for the Republic of Guyana on 20 Nov 21 and the Keel of 5th of eight Anti-Submarine Warfare Shallow Water Crafts (ASWSWCs) on 21 Dec 2. The shipyard also Inaugurated GRSE-KPDD (Khidderpore Dry Dock) Unit on 01 Dec 21 and commenced ship repair & refit activities of Defence & commercial segments. The company looks forward to working with a more focused approach to expand the export horizon in shipbuilding and fulfilling the national objective of self-reliance. The company has strong order book position of Rs 24,605 Crs. as on 31 Dec 21.”

 

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PRESS RELEASE
GRSE Observes 73rdRepublic Day of India

Kolkata, 27Jan 22: Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India observed the 73rd Republic Day with patriotic fervor and enthusiasm on 26 January 2022 following appropriate COVID protocols. The celebration at GRSE Bhawanstarted with unfurling of National Flag by Rear Admiral VK Saxena, IN (Retd), Chairman & Managing Director, GRSE, in the presence of Cmde. PR Hari, IN (Retd), Director (Personnel), Shri. R K Dash, Director (Finance), Comdt Shashi Ranjan, CISF and other senior officials and employees of GRSE followed by National Anthem.

Addressing the gathering, Rear Admiral VK Saxena, IN (Retd.) CMD, GRSE applauded all officers and workers towards the achievement of “Excellent”MoU Rating for the year 2021, whilst GRSE navigated through the difficult times of the pandemic facing many challenges. Highlighting the importance of the ‘Constitution’ for India as the world’s largest democracy, he stated that GRSE is committed to the national objective of self-reliance. Admiral VKSaxena stated that GRSE shall continue its quest towards ‘Atmanirbharta’ as a part of ‘AzadiKaAmritMahotsav’ initiatives by further enhancing its capabilities and adopting industry 4.0 practices.

The Shipyard is currently executing four indigenous shipbuilding projects including three Advanced Frigates under Project 17A, four Survey Vessels (Large) & eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy and one Fast Patrol Vessel for the Indian Coast Guard. The shipyard is also executing two export projects.

As CSR initiatives, the company has undertaken donation of Medical Oxygen Generator Plants (MOGP) to Ramkrishna Mission SevaPratishthan (RMSP), Saroj Gupta Cancer Centre & Research Institute and Bharat SevaShramSangha Hospital, as well as setting up its COVID Vaccination Centre for providing relief to its employees and families.

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PRESS RELEASE
GRSE kicks off another week long commemoration of [email protected]: Inaugurates 3rd Oxygen Generator Plant at a City Hospital

Kolkata, 31 Dec 21: Commemorating the ‘Azadi Ka Amrit Mahotsav’ week from 31 Dec 21 to 06 Jan 22, Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India, commenced [email protected] celebration week with inauguration of a Medical Oxygen Generator Plant (MOGP) under its CSR initiatives at Bharat Sevashram Sangha Hospital (BSSH), Joka. Kolkata today.

The oxygen plant at BSSH was inaugurated by Cmde PR Hari, IN (Retd.), Director (Personnel), GRSE in the presence of Swami Brahmatmananda Ji. Secretary, BSSH and Senior Officials of GRSE & BSSH. The newly installed 10-12 M3 / Hr capacity plant at the hospital aims to reduce dependency on local oxygen suppliers and thereby strengthening public health system in any emergency situation.

Earlier in the year, GRSE has aided in setting up two Medical Oxygen Generator Plants at Ramkrishna Mission Seva Pratisthan and Saroj Gupta Cancer Centre & Research, Thakurpur. Considering the surge in Omicron cases across the country, the distinctive CSR initiative by GRSE caters to fulfil the uninterrupted oxygen supply for the patients and enable hospitals to become self-sufficient in battling with the disease in a cost effective manner. With such initiatives, GRSE strives towards West Bengal’s development and building a better tomorrow for all in the state.

The week-long celebration will also witness five webinars on “Industry Collaboration with BNCCI”, “Supply Chain for Micro & Small Enterprises at GRSE “, “Combined Energy Management & Electrical Safety with NPC”, “Opportunities for MSMEs and Indigenization Requirements at GRSE with MSME DI”, “Vendor Development Drive (VDD) with NSIC” and a session on “Financial Freedom” for Employees.

AEROMAG ASIA NOV-DEC 2021

RAKSHA ANIRVEDA OCT-DEC 2021

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PRESS RELEASE

GRSE Strengthens Safety at Workplace: Inauguration of Group Safety Training Kiosk for

Employees

 

Kolkata, 27 December 21: With an impetus on improving Safety culture at workplace ,Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a leading warship building Mini Ratna Category 1 Defence PSU of India, today inaugurated Group Safety Training Kiosk (GSTK) at its Main Unit.

The Safety Training Kiosk was inaugurated by Rear Admiral V.K. Saxena, IN (Retd.) Chairman & Managing Director GRSE in august presence of Cmde Sanjeev Nayyar, IN (Retd.), Director (Shipbuilding), Cmde PR Hari, IN (Retd.), Director (Personnel) and other senior officials of GRSE

The newly formed GSTK will work as a system-based safety training facility for workmen and minimize accident at workplace. With GSTK in place, the shipyard aims to provide optimum training to workers through audio-visual mode and keep track of the training data. The Kiosk will also help workers to visualize potential safety hazards and precautions thereof, in an effective manner. After successful completion of safety training, all workmen including contract workers will be provided with safety passes.

Inaugurating the Group Safety Training Kiosk for workmen, Rear Admiral V.K. Saxena, IN (Retd.) Chairman & Managing Director GRSE, said, “Improving the culture of safe work practices inside the shipyard is the need of the hour today and the GSTK will aid in inculcating the habit of safe and vigilant behavior amongst workforce and help in taking corrective actions related to safety at workplace.”

Earlier, adopting the latest technology with respect to safety and security of infrastructure, the Shipyard has already established an Artificial Intelligence (AI) enabled high end CCTV network across its five units in Kolkata.



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PRESS RELEASE

GRSE Lays the Keel of 5th ANTI-SUBMARINE WARFARE SHALLOW WATER CRAFT

 

Kolkata, 21 Dec 21: Celebrating GoI’s flagship initiative of ‘Azadi Ka Amrit Mahotsav’ and continuing its marchto achieve self-reliancein Warship building, Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and leading warship building company of India laid the Keel of 5th of eight Anti-Submarine Warfare Shallow Water Crafts (ASWSWCs) today at GRSE Main Works Unit Kolkata. The design of these ships has been done completely in-house by GRSE.

The Chief Guest for the ceremony Shri V.L Kantha Rao, IAS, Additional Secretary & Director General (Acquisition), Ministry of Defence graced the occasion through virtual mode.Vice Admiral KiranDeshmukh, Controller of Warship Production & Acquisition and other senior officials from Naval Headquarters also participated in the virtual mode.Rear Admiral VK Saxena, IN(Retd.), Chairman & Managing Director, GRSE, Cmde Sanjeev Nayyar, IN(Retd), Director (Shipbuilding),GRSE, Cmde PR Hari, IN(Retd), Director (Personnel), GRSE, Shri RK Dash, Director (Finance), GRSE& other senior officials of Indian Navy& GRSE were present at Main Works Unit Kolkata.

The keel laying ceremony marks a centuries old tradition heralding the start of a ship’s construction at site. As per GRSE’s custom, the keel laying of 5th ASWSWC was done by Shri Shyamal Kumar Sikdar, a senior operative of GRSE.

The 5thAnti-Submarine Warfare Shallow Water Craft is a part of eight such warships being built by GRSE,the order for which was bagged through a competitive bidding process. The primary role of shallow water craft is to conduct Anti-submarine operations in coastal waters, Low intensity maritime operations and Mine laying operations. The Craft is designed for a Deep Displacement of 750 Tons, Complement of 57 and capable of full scale Sub Surface Surveillance of Coastal Waters, Search Attack Unit (SAU) and Coordinated ASW operations with Aircraft. These Vessels are propelled by Water Jets capable of reaching maximum speed of 25 Knots and are compact and loaded with anti-submarine weapons (LightWeight Torpedoes, ASW rockets and Combat Management System).

Speaking on the occasion, the Chief Guest Shri V.L Kantha Rao, Additional Secretary & Director General (Acquisition) highlighted that the Acquisition Wing of the Ministry of Defence has formulated several measures to speed up the procurement in the Armed Forces. The DG(Acquisition) complimented GRSE on its performance in shipbuilding and highlighted the tremendous shipbuilding opportunities in immediate future for Indian Shipbuilders.C&MD GRSE Rear Admiral VK Saxena, IN(Retd.), in his address, highlighted that GRSE has delivered 70 ships to the Indian Navy and 15 more are at various stages of construction by GRSE. The C&MD acknowledged the support of the Indian Navy and the Warship Overseeing Team at Kolkata towards the achievement of several milestones by GRSE. He complimented team GRSE for achieving today’s milestone within 15 days of launching the Survey Vessel Largeand that too at the same building berth.

Apart from building eight ASWSWCs for the Indian Navy, the Shipyard is currently executing indigenous shipbuilding projects which include three Advanced Frigates under Project 17A, four Survey Vessels (Large) & one Fast Patrol Vessel for the Indian Coast Guard. With its core emphasis on exports, the shipyard is also building ships for the Republic of Guyana and a government agency of Bangladesh.

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PRESS RELEASE

GRSE Exhibits at Kolkata and Ranchi: Celebrating AKAM (13 – 19 Dec 21)

 

Kolkata, 13 Dec 2021: To commemorate [email protected] as part of Azadi Ka Amrit Mahotsav celebrations, Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India commenced a seven day public exhibition showcasing its decades of legacy in shipbuilding, current and futuristic products at Science City Kolkata, Indian Maritime University Kolkata & Diesel Engine Plant, Ranchi GRSE from December 13-19, 2021. The exhibitions in all three locations were virtually inaugurated by the Hon’ble Raksha Mantri, Shri Rajnath Singh today. Cmde PR Hari IN (Retd), Director (Personnel), Shri RK Dash, Director (Finance), GRSE and Senior Officials of GRSE were present at the inauguration ceremony.

The inaugural day of [email protected] public exhibition also witnessed the participation from students of local schools and the general public at large to have a first-hand glimpse of GRSE’s shipbuilding operations, indigenous capabilities, and various classes of ships delivered to Indian Navy, Indian Coast Guard and friendly foreign countries. GRSE built Portable steel bridge models are also displayed at the exhibitions.

With the digital and physical displays, visitors can catch a glimpse of GRSE’s contributions to the nation’s self-reliance capabilities in shipbuilding and allied areas and its engagement with the people of Kolkata. These exhibitions are open to public from December 13-19, 2021 (10:30 AM to 5:30 PM), with no entry fee.

The Shipyard is currently executing four indigenous shipbuilding projects including three Advanced Frigates under Project 17A, four Survey Vessels (Large) & eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy and one Fast Patrol Vessel for the Indian Coast Guard. With focus on exports, the shipyard is building ships for export to Republic of Guyana and a government agency of Bangladesh.

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PRESS RELEASE

‘FIRST OF CLASS’ INDIGENOUS SURVEY VESSEL (LARGE) FOR INDIAN

NAVY LAUNCHED BY GRSE

 

Kolkata, 05 Dec 2021: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India achieved another milestone today with the launch of the first Survey Vessel, in the series of four ships under the Survey Vessel (Large) project for the Indian Navy. Upholding the maritime traditions, the ship was named “Sandhayak” and “Launched” by Smt Pushpa Bhatt, wife of Shri Ajay Bhatt, Hon’ble Raksha Rajya Mantri, who graced the occasion as the Chief Guest. Vice Admiral Biswajit Dasgupta, Flag Officer Commanding-in-Chief, Eastern Naval Command, Vice Admiral Kiran Deshmukh, Controller of Warship Production & Acquisition, Vice Admiral Adhir Arora, Chief Hydrographer to the Govt of India, Rear Admiral Vipin Kumar Saxena (IN, Retd), Chairman & Managing Director, GRSE, Cmde Sanjeev Nayyar, IN(Retd), Director (Shipbuilding), GRSE, Cmde PR Hari, IN(Retd), Director (Personnel), GRSE, Shri RK Dash, Director (Finance), GRSE, other Senior Officials of GRSE, Indian Armed Forces and Industry were present at the occasion.

The ceremony was conducted in true maritime traditions with the application of vermillion, breaking of coconut on the ship’s bow and chanting of vedic mantras. The ‘Launch’ symbolizes the “birth” of the ship as she makes her first contact with water and is floated out for from her building berth. For the first time, this special ceremony was also witnessed by more than 100 students from various city schools, NCC cadets and other citizens of Kolkata including revered monks from Ramakrishna Seva Pratishthan, Kolkata. This initiative under the aegis of ‘Azaadi ka Amrit Mahotsav’ activities, provided the citizens of Kolkata a glimpse of the ‘Warship’ building activity happening in their city!

These survey ships are capable of full scale coastal & deep-water hydrographic survey of Ports & Harbor approaches & determination of navigational channels & routes. In addition, these ships are also capable of undertaking survey of Maritime limits and collection of Oceanographic & Geographical data for Defence applications, thus boost the maritime capabilities of the country. These ships are propelled by two Marine Diesel Engines combined with Fixed Pitch Propellers and fitted with Bow & Stern Thrusters for maneuvering at low speeds during surveys. The ships are fully designed by the Design team of GRSE to meet the requirements of the Indian Navy and are being built & outfitted utilising the concepts of ‘Integrated Construction’ and in compliance with applicable provisions and regulations of the Classification Society (IRS).

On this momentous occasion, Shri Ajay Bhatt, Hon’ble Raksha Rajya Mantri (Minister of State for Defence), appreciated GRSE’s efforts and said, “Launch of first Survey Vessel (Large) ‘Sandhayak’ today reinforces our commitment for indigenous shipbuilding as part of our Prime Minister’s vision of ‘Make in India’, and thrust to the vision of ‘Atmanirbhar Bharat’ (Self-reliant India). The vessel will have over 80% indigenous content by cost and this will also ensure that large scale defence production is executed by Indian manufacturing units, thereby generating employment and expertise within our country. It’s a matter of great significance that GRSE had achieved a historic milestone, when the 100th warship was delivered by the shipyard. I am confident that the shipyard will scale greater heights in years to come and realise its vision of becoming a world leader in warship building”.

Highlighting the achievement of another key milestone for the Shipyard, Rear Admiral V.K.Saxena, IN (Retd.), Chairman & Managing Director said, “The Survey Vessel (Large) is one of our proud creations for the Indian Navy and coincidentally the previous ‘Sandhayak’ class of Hydrographic Survey Ships were also built by GRSE. The first ship of that class “Sandhayak” got decommissioned in Jun 2021 after 40 years of glorious service to the nation and her name lives on in true traditions of the Indian Navy. The present survey ships are equipped with new generation hydrographic equipment and is testimony to the maturity of our indigenous construction capability towards realization of ‘Atma-Nirbharta’ (Self-reliance). The achievement of this major milestone despite challenges posed by the ongoing pandemic, stands testimony to the commitment and capability of the GRSE.”

GRSE has delivered 788 platforms which include 107 warships, of which 70 were for the Indian Navy, 35 for the Indian Coast Guard, 01 for the Government of Mauritius and 01 for Seychelles Coast Guard which is the highest number of warships built & delivered by any shipyard in the country. The Shipyard is currently executing four indigenous shipbuilding projects including three Advanced Frigates under Project 17A, four Survey Vessels (Large) & eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy and one Fast Patrol Vessel for the Indian Coast Guard. With emphasis on exports and realigned marketing strategies, the shipyard is building ships for export to Republic of Guyana and a government agency of Bangladesh.

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PRESS RELEASE

Inauguration of GRSE-KPDD Unit

 

Kolkata, 01 Dec 21: As a part of Concession Agreement signed between Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India and Syama Prasad Mookerjee Port, Kolkata (SMP Kolkata) on 7th October, 2021 in presence of Shri Sarbananda Sonowal, Hon’ble Union Minister of Ports, Shipping and Waterways, Govt of India and towards development & utilisation of three existing dry docks of Khidderpore, Kolkata, GRSE and SMP Kolkata today jointly inaugurated the GRSE-KPDD (Khidderpore Dry Dock) Unit in Kolkata.

The facility was inaugurated in the august presence of Rear Admiral VK Saxena, IN (Retd.), Chairman & Managing Director, GRSE and Shri Vinit Kumar, IRSEE, Chairman, SMPK and senior officials of GRSE & SMPK.

Under the agreement, both GRSE & SMP, Kolkata shall look forward towards developing a dynamic partnership in exploring new business opportunities in Ship repair & refit of Defence & commercial segments, leading to revenue generation and contributing to skill development, infrastructure upgrade and employment generation in Kolkata.

On the occasion Rear Admiral VK Saxena, Chairman and Managing Director, GRSEsaid, “As part of the investment promotional activity of maritime India, this agreement aims to play a significant role towards growth plans for both the organisations and effective utilisation of the three existing docks at SMP, Kolkata. The close proximity of GRSE with SMPK is an enhancer to the successful take off of this project as approximately 400 vessels operate in the Hooghly river and on the Indo-Bangladesh shipping route. Also, authorities handling smaller vessels may prefer to have dry docks in close proximity of their operational area. GRSE’s proven expertise in carrying out construction, conversion and repair of over 4000 Naval & Merchant vessels during Second World War and building 788 platforms including 107 warships till date are the testimonies to the success of this new collaboration. ”

Highlighting the importance of newly formed GRSE-KPDD Unit, Shri Vinit Kumar, Chairman, SMPKsaid, “This collaboration between GRSE and SMPK aims to provide prospects for ship repair business in the eastern region considering large number of inland vessels operating in this shipping route. This alliance also shapes new dimension towards revenue generation, development and perennial relationship with SMPK and GRSE’s expertise in shipbuilding and design arena gives it an edge over other players in the industry. In this connection,

Shri Vinit Kumar, Chairman, SMP Kolkata further stated that at Netaji Subhas Dock (NSD) of KDS, SMPK, Cochin Kolkata Ship Repair Unit (CKSRU), a unit of Cochin Shipyard Limited (CSL) is already maintaining Dry Docks facilities operational since 2019 in a befitting manner.

For proper and efficient functions, Ship repair ecosystem is now revived jn a proper way at Syama Prasad Mookerjee Port, Kolkata, told Shri Kumar, Chairman, SMP, Kolkata.

The project envisages upgrading, operating and managing the infrastructural facilities at these docks towards their effective utilization.

 

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PRESS RELEASE

GRSE Lays Keel of Ocean Going Vessel for Republic of Guyana

 

Kolkata, 20 Nov 21: Marching towards fulfilling the vision of becoming a global shipbuilder, Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and leading warship building company of India, achieved another milestone today by laying the Keel of the ‘Ocean-Going Passenger cum Cargo Vessel’ at Kolkata, a prestigious project under execution for the Co-operative Republic of Guyana.

The Keel laying ceremony of the Ocean-Going Vessel was conducted in the august presence of Captain Stephen Thomas, Director General, Maritime Administration Department, Mrs. Ronalda Edwards-Horatio, Charge’ D’ Affaires, A.I., Guyana High Commission, India, Rear Admiral VK Saxena, IN(Retd.), Chairman & Managing Director, GRSE, Directors of GRSE and other Senior Officials of GRSE and Transport & Harbour Department, Guyana.

The 70 m long vessel with a displacement of 1700 Tonnes is propelled by two diesel Engines and Twin Disc Gear Boxes to achieve a maximum speed of 15 Knots. The ship has been fully designed by the GRSE design teams and can accommodate 294 passengers (including 14 crew members) along with 14 cars, 02 trucks, and 14 containers & cargo and is planned to operate in the coastal and riverine area of Northwest District of Guyana.

Speaking on the occasion, Chief Guest Captain Stephen Thomas, Director General, Maritime Administration Department, expressed satisfaction over the progress of the project and said, “This project is a distinct enterprise for the Government of Guyana designed to provide smart transportation of passengers and cargo. Catering to the needs of our people, the vessel will prove to be an efficient mode of transport for the passengers and cargo movement in Guyana. This cooperation with India’s leading shipbuilder GRSE, highlights our stable and long-term relationship with India.”

Highlighting the importance of achieving this major ‘Keel laying’ milestone amidst these challenging times, Rear Admiral VK Saxena, IN (Retd), Chairman & MD, GRSE stated, “The Ocean-going Passenger cum Cargo Ferry Vessel project provided GRSE with an opportunity to leverage our expertise in design and ship construction and showcase our shipbuilding prowess in the global arena. The success of this project stands dedicated to the untiring efforts of Team GRSE and synergy among all stakeholders despite of the ongoing pandemic. This vessel aims to create a new benchmark in the field of passenger and cargo movement in Guyana. This project is a harbinger for more cooperation between our friendly nations in the maritime domain in near future. GRSE is proud to contribute towards friendly bilateral relations between the two nations.”

Earlier this year, GRSE and Transport and Harbours Department (T&HD), Government of Guyana signed the contract for the construction of the Ocean-Going Vessel. The Shipyard bagged this prestigious contract through competitive bidding. The design has been accomplished by the in-house design team of GRSE and incorporates enhanced safety and operational features. With its emphasis on export and realigning marketing strategies to match the dynamic global environment, the shipyard is building six patrol crafts for Bangladesh apart from this ship for Republic of Guyana. In pursuit of indigenization and Self-reliance in Shipbuilding, GRSE is currently executing six shipbuilding projects including three Advanced Frigates under Project 17A, four Survey Vessels (Large) & eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy and one Fast Patrol Vessel for the Indian Coast Guard.

 

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PRESS RELEASE

GRSE Inaugurates two Medical Oxygen Generator Plants: Extends Community

Support to City Hospitals

Kolkata, 19 Nov 21: Two Medical Oxygen Generator Plants (MOGP) under its CSR initiatives were inaugurated by Garden Reach Shipbuilders and Engineers Ltd., (GRSE), – a Mini Ratna Category 1 Defence PSU and the leading warship building company of India at Ramkrishna Mission Seva Pratisthan (RMSP) and Saroj Gupta Cancer Centre and Research Institute (SGCCRI) in Kolkata, today.

The 26 NM3 Capacity oxygen plant at RMSP was inaugurated by Rear Admiral V.K. Saxena, IN (Retd,), CMD, GRSE in presence of Swami Nityakamananda Ji, Secretary Ramikrishna Mission Seva Pratisthan (RMSP), Cmde PR Hari, IN (Retd), Director (Personnel), GRSE, and Senior Officials of GRSE and RMSP.

Considering the possibility of a coronavirus third wave, the newly established MOGPs aim to address oxygen crisis, if any, for COVID-19 patients in the city. Firmly committed to the cause of humanity amidst the Covid-19 spread, and in continuing its fight against the pandemic, the initiative by GRSE is expected to play a pivotal role in making these hospitals self-reliant while battling the deadly virus. The MOGP at RMSP helps in avoiding dependency on scarcity of oxygen cylinders by enabling the hospital generate on site medical oxygen in a cost effective manner.

Highlighting the importance of CSR initiative taken by the company Rear Admiral V.K. Saxena, IN (Retd), CMD, GRSE said, “GRSE has long been deeply engaged in social and sustainable development projects in and around the Shipyard as well as across Kolkata. Oxygen is a very important clinical gas in the treatment of Covid-19. These plants will not only fulfil the oxygen supply for the hospitals but also put in place the required infrastructure thus better preparing them for a probable third wave”.

Notably, earlier this year, GRSE signed MoUs with Ramkrishna Mission Seva Pratisthan, Saroj Gupta Cancer Centre and Research Institute, Thakurpur and Bharat Sevashram Sangha Hospital, Joka, to set up medical oxygen generator plants under its CSR initiatives. For years now, GRSE is purposefully instrumental in West Bengal’s development saga and has been contributing towards building a better tomorrow for the state.

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PRESS RELEASE

 

Performance Review Q2 & H1FY22

 

 

Kolkata, 13th Nov 2021: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country have announced its financial results for the second quarter and half year ended September 30th, 2021.

 

Highlights for Q1 FY 22

(i) Q2 FY 22 In comparison to Q1 FY 22

· Revenue from operation increased by 39%

· PAT increased by 1.85 times

· Operating profit increased by Rs 51 Crs.

(ii) Q2 FY 22 In comparison to Q2 FY 21

· Revenue from operation increased by 55%

· PAT increased by 56%

· Operating profit increased by 67%.

(iii) H1 FY 22 In comparison to H1 FY 21

· Revenue from operation increased by 90%

· PAT increased by 110%

· Operating profit increased by 3 times

Q2FY22 Compared with Q1FY21:

 

  • Revenue from operation is Rs. 421.83 crore in Q2 FY22 as against Rs. 304.19 crore per day of Q1 FY22 increased by Rs 117.64 Crs. Improved by 39%
  • The Company’s EBITDA stood at Rs 91.13 Crs. as against Rs. 34.12 Crs. of previous quarter increased by Rs 56.99 Crs. Improved by 1.67 times
  • Profit Before Tax (PBT) stood at Rs. 81.64 crore for Q2FY22, as against Rs. 26.45 Crs. in Q1 FY22 increased by Rs 55.20 Crs. Improved by 2.09 Times.
  • Profit After Tax (PAT) stood at Rs. 58.79 crore for Q2FY22. as against Rs. 20.59 Crs. in Q1FY22 increased by Rs 38.20 Crs. Improved by 1.85 times
  • Operating Profit is Rs 45.44 Crs. In Q2FY22 in comparison to Rs. (5.69) Crs. In Q1FY22 i.e increases by Rs. 51.13 Crs over last year of Q2 FY 21
  • Earnings per share (EPS) for the quarter ended Q2FY22 stood at Rs. 5.13 as compared to Rs 1.80 in Q1FY22

Q2FY22 Compared with Q2FY21:

 

  • Revenue from operation is Rs. 421.83 crore in Q2 FY22 as against Rs. 272.44 crore per day of Q2 FY21 increased by Rs 149.39Crs. Improved by 55%
  • The Company’s EBITDA stood at Rs 91.13 Crs. as against Rs. 59.99 Crs. of previous year increased by Rs 31.14 Crs. Improved by 52%
  • Profit Before Tax (PBT) stood at Rs. 81.64 crore for Q2FY22, as against Rs. 53.84 Crs. in FY21 increased by Rs 27.80 Crs. Improved by 56%
  • Profit After Tax (PAT) stood at Rs. 58.79 crore for Q2FY22. as against Rs. 37.70 Crs. in FY21 increased by Rs 16.85 Crs. Improved by 56%
  • Operating Profit up by Rs. 18.20 Crs over in last year of Q2 FY 21 (Rs 45.44 Crs. In Q2FY22 and Rs Rs.27.23 Crs. In Q2FY21), consequent improvement by 67%.
  • Earnings per share (EPS) for the quarter ended Q2FY22 stood at Rs. 5.13 as compared to Rs 3.29 in Q2FY21

H1FY22 Compared with H1FY21:

 

  • The Total Income stood at Rs. 802 crore in H1FY22 as against Rs. 480 crore in H1FY21 increase of Rs. 322 Crs. Improved by 67%
  • Revenues from operations for the six months ended September 30th, 2021 stood at Rs. 726.02 crore as compared to Rs. 382.39 crore in H1FY21 Improved by 90%
  • The Earnings before Interest, Tax, Depreciation and Amortization (Core EBITDA) stands Rs. 125.27 crore in H1FY22, as against Rs 69.53 crore in H1FY21. Improved by 80% . & The Company’s EBITDA margin stood at 15.57 %
  • Profit Before Tax (PBT) stood at Rs. 108.10 crore for H1FY22 as compared to Rs 55.61 crore in H1FY21. Improved by 94% & The Company’s PBT margin stood at 13.44%
  • Profit After Tax (PAT) reported stood Rs. 79.38 crore in H1FY22 as against Rs. 37.85 crore in H1FY21. Improved by 110% & The Company’s PAT margin stood at 9.87%
  • Earnings per share (EPS) for the half year ended H1FY22 stood at Rs. 6.93 as compared to Rs 3.30 in H1FY 21
  • Value added per Employee for the half year ended H1FY22 stood is Rs .8.32 Lakhs as compared to Rs. 6.11 Lakgs In H1FY21

Commenting on the results, Rear Admiral (Retd) V.K. Saxena, Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “Based on the experience gained in handling of 1st wave of COVID-19, the company successfully handled impediments faced during the second wave by adopting various strategies to achieve operational success. As a result, the shipyard could successfully continue concurrent construction of 17 ships in different stages and laid keel of 6th Fast Patrol Vessel (FPV) on 15 July 21, keel of 3rd Survey Vessel (LARGE) & 1st Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) on 06 Aug 21 and also could sign MoU with Naval Group (NG), France to collaborate in the field of state-of-the art surface shipbuilding. The company has strong order book position of Rs. 25071 Crs. as on 30th Sept 21.”

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PRESS RELEASE

GRSE Observes National Unity Day : Road towards [email protected] celebrations

 

Kolkata, 01 Nov 21: Reaffirming its commitment towards self-reliant India and celebration of [email protected], Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India, organised a variety of events at its units from 24-31 Oct 21 to commemorate Rashtriya Ekta Diwas (National Unity Day).

Celebrating the 146th birth anniversary of Sardar Vallabhbhai Patel as ‘Rashtriya Ekta Diwas’, GRSE’s reinforced its commitment to strengthen the security, unity and integrity of the nation. The week started with online ‘Unity Pledge’ taking ceremony. During the week, a host of events such as ‘Unity Walkathon’ involving GRSE employees, Essay, Slogan Writing competitions for students and march-past by security personnel were organised. GRSE personnel led by the Senior management participated in these events with great enthusiasm. Banners and posters carrying the message of national integrity and unity were prominently displayed at GRSE’s units during the week-long celebration.

GRSE also supports holistic development of underprivileged children of Gadadhar Abhyudaya Prakalpa (GAP) units and conducted activities under the aegis of ‘Rashtriya Ekta Diwas’ at units of Naora, 24 Parganas (South), Ajgara, 24 Parganas (North) & Boyemari, Sandeshkhali.

 

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PRESS RELEASE

GRSE Commemorates [email protected] Phase-III Celebration: Towards Indigenization &

Self-reliance

 

Kolkata, 09 Oct 21: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India, commemorates the Phase-III celebration of [email protected] from 08 Oct 21 to 11 Oct 21.

The various events included webinars on “Smart Shipyard – Digital Fabrication – Precursor to Industry 4.0”, “Indigenisation with MSME DI”, “Supply Chain Management with emphasis on ship-building Industry” and “Special Vendor Development Program for MSME SC/ST Vendor in association with NSIC” to achieve overall Indigenization and Self-reliance in shipbuilding and create awareness of latest sectoral development amongst MSME vendors and stakeholders,

The four key webinars aim to bring out the theme of [email protected] initiative of Govt. of India and highlight GRSE’s Indigenization Effort towards Atma Nirbhar Bharat, Vendor Development and Supply Chain Management for shipbuilding & engineering items.

The first phase of [email protected] celebration was successfully organized by GRSE from 23 Apr 21 to 28 Apr 21 followed by second phase from 16 Jul 21 to 22 Jul 21.

 

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PRESS RELEASE

GRSE to Revamp Dry Docks at Khidderpore :

Signs Concession Agreement with SMPK

 

Kolkata, 07 Oct 21: Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India, today signed the Concession Agreement with Syama Prasad Mookerjee Port, Kolkata (SMPK), to undertake the development & utilisation of the 3 existing Dry Docks of SMP at Khidderpore, Kolkata. The project envisages upgrading, operating and managing the infrastructural facilities at these docks towards their effective utilization.

The Concession Agreement was signed in the august presence of the Hon’ble Union Minister of Ports, Shipping & Waterways (MoPSW) and AYUSH, Shri Sarbananda Sonowal, Shri Sanjay Bandopadhyay, Additional Secretary, MoPSW and Rear Admiral VK Saxena, IN (Retd.),Chairman & Managing Director, GRSE, Shri Vinit Kumar, IRSEE, Chairman, SMPK & senior dignitaries of SMPK & GRSE, between Capt Amit Kapoor, Director (Marine Department), SMPK and Cmde PR Hari, IN (Retd.), Director (Personnel), GRSE.

As a part of the investment promotional activity of Maritime India, the Agreement aims to play a vital role in abetting the strategic growth plans for both the companies in addition to the revenue generation from the ship repair and refit of Defence and Commercial segments, predominantly in the Eastern Region.

This collaboration will also contribute to the future strategy of GRSE to take on additional shipbuilding activities including repair & refit of ships, which will aid in the feasibility for execution & expansion in and around Kolkata. Under the agreement, both entities look forward to develop a dynamic partnership and understanding to explore new business prospects, skill development and facility improvement, which in turn will aid in employment generation in Kolkata, as a part of Maritime growth and Nation Building exercise.

Since its inception as a DPSU in 1960, GRSE has built 788 platforms which include 107 warships to Maritime forces, which is highest number of warships built & delivered by any shipyard in the country. With an emphasis on export activities, GRSE is currently executing six shipbuilding projects including three Advanced Frigates under Project 17A, four Survey Vessels (Large) & eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy and one Fast Patrol Vessel for the Indian Coast Guard, apart from the export ships for Republic of Guyana and Government of Bangladesh.

 

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GEOPOLITICS
SEPTEMBER 2021

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PRESS RELEASE

105th Annual General Meeting of GRSE

Kolkata, 10 Sep 2021: The 105thAnnual General Meeting (AGM) of Garden Reach Shipbuilders & Engineers Limited (GRSE) was held on Friday 10 Sep 21through VC/OAVM. The Meeting was attended by Rear Admiral VK Saxena, IN (Retd), Chairman & Managing Director, GRSE, Cmde Sanjeev Nayyar, IN(Retd.), Director(Shipbuilding), Cmde PR Hari, IN(Retd.), Director(Personnel), Shri R K Dash, Director(Finance) and Shri Sandeep Mahapatra, Company Secretary along with shareholders of the Company.

The performance of GRSE, continued to be strong during the year 2020 – 21:

  • Revenue from operation per day is Rs.4.02 Crs (for the available No. of days) in FY 21 as against Rs. 3.92 Crs per day of FY 20
  • Revenues from operations for the full year ended March 31st, 2021 stood at Rs.1141 crore
  • The Company’s EBITDA margin stood at 18% as against 15% of previous year.
  • Profit Before Tax (PBT) stood at Rs. 207 crore for FY21, PBT margin of the Company has increased to 16% as against 13% of FY 20.
  • Profit After Tax (PAT) stood at Rs.153 crore for FY21.The PAT margin of the Company is increased to 12% as against 10% of FY 20.
  • Earnings per share (EPS) for the year ended FY21 stood at Rs. 13.40

 

The Board of Directors of the Company recommended a final dividend of Rs. 1.15/- per equity share of face value of Rs.10/- each for the financial year 2020-21. This is in addition to the interim dividend of Rs.3.85/- per equity share of face value of Rs. 10/- each which was paid on 24 Feb 2021. The total Dividend declared for the Financial Year 2020-21 is Rs. 5/- per equity share of face value of Rs.10/- each. During the Reported Period, the company delivered 02 Warships, 01for the Indian Navy and 01 for Seychelles Coast Guard.  This makes total warship delivered as 107 till end of 31st March 2021.

With its emphasis on export and realigning marketing strategies to match with the dynamic global environment, GRSE has pioneered its core objective of defence preparedness and continued its thrust on exports under the vision “Security And Growth for All in the Region (SAGAR)” adopted by Government of India and achieved the distinction of inducting90% indigenous contents onboard warships for Indian Navy such as Anti-Submarine Warfare Corvettes, Landing Craft Utilities under Make in India initiative.Despite the challenges posed by the 1st& 2nd wave of covid-19, GRSElaunched the 1st Ship of the Prestigious P17A Advanced Frigate “Himgiri” way ahead of its schedule and delivered one warship to Indian Coast Guard just two days after the first phase of lockdown restrictions were over.

The Shipyard is currently executing six shipbuilding projects including three Advanced Frigates under Project 17A, four Survey Vessels (Large) & eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy and one Fast Patrol Vessel for the Indian Coast Guard, apart from the export ships for Republic of Guyana and Government of Bangladesh.

Modernization of infrastructure has enhanced the capacity across Shipyard’s three ship building locations with the construction of 20 ships concurrently. Commissioning of the 250 Ton Goliath Crane was another milestone achieved and a first of its kind. Apart from shipbuilding & ship repair, GRSE has diversified into Engineering Business with a product profile of Pre-fabricated Steel Bridges, various Deck Machinery Items such as Anchor Capstans, Boat Davits, Pumps etc & Assembly/ Testing/ Overhauling of MTU Diesel Engines.

 

Addressing the shareholders, Rear Admiral V K Saxena, IN (Retd.), Chairman & Managing Director, stated that GRSE has a strong order book which stands approximately at Rs. 25,707crores as on 31Mar 21 having 17 warships across 6 projects under execution currently. GRSE has been consistent in paying dividend to the Shareholders and has done so every year for the last 27 yearsHe expressed his confidence in Team GRSE to emerge strong amidst the uncertainties created by the global pandemicand  appreciated the hard work and dedication of all the employees in taking the Company on its path of success & thanked the investors for their faith, commitment & confidence in the Shipyard. The unstinted support from the Ministry of Defence, Indian Navy, Indian Coast Guard, Central and State Government Authorities has helped GRSE achieve its goals, he said.

To maintain its competitive edge in digitization, the company is shifting to smart manufacturing (Industry 4.0), through thrust on innovations in automation, robotics and the industrial internet of things. It is also introducing Artificial Intelligence, Machine Learning, Interoperability and secured connectivity enabling real time monitoring. This control and optimization of processes, resources and systems is expected to help in workload consolidation across Design, Production & Supply Chain Management, significantly in the current & future projects of the company.

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PRESS RELEASE

 

GRSE and Naval Group of France Strengthen Cooperation in field of Surface Ships

 

Kolkata, 09 Sep 21: In a revolutionary step towards transition from ‘Make in India’ to ‘Makefrom India’, Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1Defence PSU and a leading warship building company of India, today signed a Memorandumof Understanding (MoU) with Naval Group France, a leader in European Naval Defence Industryto collaborate in the field of surface ship that caters to fulfil the requirement of India andInternational Naval forces.

 

The MOU was signed by Cmde. PR Hari, IN (Retd), Director (Personnel) GRSE .Under theMoU, the two entities will collaborate and engage to offer high-end surface ships based on seaproven Gowind® design developed for export market. Having built over 100 warships for Indianand foreign naval forces, GRSE will work closely with French & Indian industries.

The MoU also seeks to leverage the capabilities of both firms for meeting the growingrequirements of the shipbuilding industry and offer a robust world class product utilising theState-of-the-art capabilities of both the organisations. This blend of modern technology,innovation and management of resources by Indian and French naval industrial leaders will bea real value proposition for international navies.

 

Highlighting the importance of collaboration Rear Admiral V K Saxena (IN Retd.), CMD, GRSEsaid, “Our association with Naval Group of France aims to set a new bench mark in capitalizingexport market in the Indo Pacific region. The partnership will set a new ground for surface shipbuilding using design and technology assistance from Naval Group. This will not only bringmutual benefit for both the nations but also enable GRSE to deliver surface ships to FriendlyForeign Countries in line with our Hon’ble Prime Minister’s vision of ‘SAGAR’”.

 

On the occasion of MoU signing, Shri Alain Guillou, SEVP, International Development, Naval Group congratulated the team and said, “This extension of cooperation with GRSE, withwhom we had worked for the propulsion system of Kamorta Class ASW Corvettes clearlyhighlights our long-term investment in India and emphasises the potential of strategic relationsbetween France & India in the Indo-Pacific region”.

AEROMAG ASIA
JULY-AUGUST 2021

PRESS RELEASE

 

GRSE LAUNCHES AI BASED HR CHATBOT ‘AskANVESHA’:

PROVIDES DIGITAL ACCESS FOR EMPLOYEES

Kolkata, 30 Aug 21:Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India todaylaunched an AI based Chatbot ‘AskANVESHA’ to give employees digital access to their personal documents, which can be synced with user’s smartphone with the click of a button. A first of its kindHR Chatbot by any DPSU, was virtually launched by Rear Admiral VK Saxena, IN (Retd), Chairman & Managing Director, GRSE, in the presence ofCmde. SanjeevNayyar, IN (Retd), Director (Shipbuilding), Cmde. PR Hari, IN (Retd),Director (Personnel), Shri. R K Dash, Director (Finance), Shri Ankush Sabharwal, CEO, CoRover Pvt. Ltd. and other senior officials and employees ofGRSE.

 The cloud-based Chatbot has been developed using CoRover conversational AI platform where employees can ask queries on various HR policies, view employee details and download personal documents.The Chatbot will enable employees to access individual data like payslip, PF statement, Form-16 etc. ‘AskAnvesha’ can also be utilised for self-learning, registering grievances, put forth suggestionsand it also provides access tolatest circulars, happenings and achievements of the company. Using employee ID, one can log in with One Time Password (OTP) sent to the registered mobile number and can get the desired documents. For a smoother and quicker access to its services, ‘AskAnvesha’ is made available on multiple channels including web and mobile application and can be accessed through smartphones, tablets and desktops anytime, anywhere.

Launching the AI enabled HR Chatbot, Rear Admiral VK Saxena, IN (Retd), Chairman & Managing Director, GRSE said, “With the launch of AI based CCTV surveillance at GRSE andcommencement of HR Chatbot ‘Ask ANVESHA’, the Shipyard is on the path of digital transformationand GRSE is fully committed to the Government of India’s flagship initiative of Digital India.”

GRSE’s recent digital India initiative seeks to realize the goal of inclusive development by adoptingnew tools of technology.To maintain its competitive edge in digitization, the company is shifting to smart manufacturing (Industry 4.0), through thrust on innovations in automation, robotics and the industrial internet of things. It is also introducing Artificial Intelligence, Machine Learning, Interoperability and secured connectivity enabling real time monitoring. This control and optimization of processes, resources and systems is expected to help in workload consolidation across Design, Production & Supply Chain Management, significantly in the current & future projects of the company. The Shipyard is currently executing six shipbuilding projects including three Advanced Frigates under Project 17A, four Survey Vessels (Large) & eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy and one Fast Patrol Vessel for the Indian Coast Guard, apart from the export ships for Republic of Guyana and Government of Bangladesh.

 

CONFEDERATION OF INDIAN INDUSTRY MAGAZINE
CORPORATE SOCIAL RESPONSIBILITY COMPENDIUM
AUGUST 2021

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PRESS RELEASE

 

GRSE and Naval Group of France Strengthen Cooperation in field of Surface Ships

 

Kolkata, 09 Sep 21: In a revolutionary step towards transition from ‘Make in India’ to ‘Makefrom India’, Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1Defence PSU and a leading warship building company of India, today signed a Memorandumof Understanding (MoU) with Naval Group France, a leader in European Naval Defence Industryto collaborate in the field of surface ship that caters to fulfil the requirement of India andInternational Naval forces.

 

The MOU was signed by Cmde. PR Hari, IN (Retd), Director (Personnel) GRSE .Under theMoU, the two entities will collaborate and engage to offer high-end surface ships based on seaproven Gowind® design developed for export market. Having built over 100 warships for Indianand foreign naval forces, GRSE will work closely with French & Indian industries.

The MoU also seeks to leverage the capabilities of both firms for meeting the growingrequirements of the shipbuilding industry and offer a robust world class product utilising theState-of-the-art capabilities of both the organisations. This blend of modern technology,innovation and management of resources by Indian and French naval industrial leaders will bea real value proposition for international navies.

 

Highlighting the importance of collaboration Rear Admiral V K Saxena (IN Retd.), CMD, GRSEsaid, “Our association with Naval Group of France aims to set a new bench mark in capitalizingexport market in the Indo Pacific region. The partnership will set a new ground for surface shipbuilding using design and technology assistance from Naval Group. This will not only bringmutual benefit for both the nations but also enable GRSE to deliver surface ships to FriendlyForeign Countries in line with our Hon’ble Prime Minister’s vision of ‘SAGAR’”.

 

On the occasion of MoU signing, Shri Alain Guillou, SEVP, International Development, Naval Group congratulated the team and said, “This extension of cooperation with GRSE, withwhom we had worked for the propulsion system of Kamorta Class ASW Corvettes clearlyhighlights our long-term investment in India and emphasises the potential of strategic relationsbetween France & India in the Indo-Pacific region”.

PRESS RELEASE

 

GRSE OBSERVES INDEPENDENCE DAY

 

Kolkata, 16 Aug 21:Garden Reach Shipbuilders and Engineers Ltd., (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship building company of India observed the 75thIndependence Day with patriotic fervor and enthusiasm on 15 August 2021.Rear Admiral VK Saxena, IN (Retd), Chairman & Managing Director, GRSE,hoisted the National Flag in the presence ofCmde. SanjeevNayyar, IN (Retd), Director (Shipbuilding), Cmde. PR Hari, IN (Retd),Director (Personnel), Shri. R K Dash, Director (Finance), Comdt Shashi Ranjan, CISF and other senior officials and employees ofGRSE.The celebration was held following appropriate covid protocols and activities included ‘Security and Yoga Demonstration’ by CISF personnel.

Commemorating the occasion,Rear Admiral VK Saxena, IN (Retd), Chairman & Managing Director, GRSEin his address, extended his greetings to the entire GRSE family and applauded the efforts of all officers, workers and CISF personnel for working together tosee the company navigate through difficult times during the pandemic. He urged everyone to remember the sacrifices of our freedom fighters and distinguished leaders of the nation in achieving freedom. He also expressed his gratitude to the corona warriors who have worked tirelessly to serve the country during ongoing pandemic and alsocongratulated GRSE’s Covid Response team for their untiring support to employees and their families.

Stressing on Shipyard’s steady performance amidst pandemic, he highlighted that the Shipyard has successfully achieved production milestone on ships under construction at GRSE including the launch of first Advanced Frigate P17A Himgiri and export of SCG PS Zoroaster to Republic of Seychelles. He also stated that the  shipyard also commissioned the 250 Ton Goliath Crane, a major contributor towards undertaking integrated shipbuilding, using advanced modular construction technology to boost production.CMDmentioned that as part of export initiatives, the company has made inroads into Bangladesh with an order for supply of 06 Patrol Boats to Bangladesh. CMD acknowledged employee’s participation in ‘[email protected] Azadi Ka Amrit Mahotsav’ and encouraged personnel to participate in large numbers for recitation of Rashtragaan.GRSE’s performance has beenacknowledged by the industry and the Shipyard has bagged awards in CSR Commitment, Digital PSU, Research & Innovation and Communication Outreach.CMD also reiterated that going forward, the shipyard would have to leap frog and adopt new business strategies for “Reform” & “Transform” to accelerate growth of GRSE.

The Shipyard is currently executing five shipbuilding projects includingthreeAdvanced Frigates under Project 17A, four Survey Vessels (Large) & eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy and one Fast Patrol Vessel for the Indian Coast Guard, apart from the export ship under construction for Republic of Guyana.

 

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PRESS RELEASE

CIN NO.-L35111WB1934GOI007891

 

Performance Review

 

Garden Reach Shipbuilders & Engineers Ltd Q1 FY22

 

Kolkata, 13th August 2021: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country have announced its financial results for the first quarter ended June 30th, 2021.

 

Highlights for Q1 FY 22

·       Revenue From Operation : Rs.304 crores

·       EBITDA Margin10% in Q1 FY22

·       PBT margin 7.68%.

·       PAT margin 5.98 %

Q1FY22 Compared with Q1FY21:

 

  • Revenue from operation is Rs.304 crore in Q1FY 22 against Rs.110 crore of Q1 FY 21,higher by 176%
  • Total Income is Rs.344 crore in Q1 FY 22 as against Rs.160 crore of Q1 FY 21,higher by 115%
  • EBITDA Margin increased to 10% in Q1 FY22 as against 6% in Q1 FY21
  • Profit Before Tax (PBT) stood at Rs. 26.45 crore inQ1 FY22 as against Rs.1.76crore in Q1 FY 21 registering an increase by 15 times.
  • Profit After Tax (PAT) stood at Rs.21 crore for Q1 FY22 as against 0.15 crore in Q1 FY 21.The PAT margin of the Company stood at 5.98 %.
  • Earnings per share (EPS) for the quarter ended Q1 FY22 stood at Rs. 1.80 as against Rs.0.01 In Q1 FY 21

The learnings from the first wave of the Covid Pandemic was successfully transformed by the Company into operational strategies to mitigate the impact of the second wavein Q1 FY 22. Overcoming the challenges posed by the ongoing pandemic, the shipyard is undertaking production of 12 ships concurrently across 05 projects. The shipyard also commissioned the 250 Ton Goliath Crane, a major contributor towards undertaking integrated shipbuilding, using advanced modular construction technology to boost production. Taking the export initiative forward, the Shipyard signed an order for supply of 06 Patrol Boats with the Fisheries Department of Bangladeshon 03 Jul 21, under the Sustainable Coastal & Marine Fisheries Project, an order won on competitive bidding with global players.

 

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