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PRESS RELEASE

GRSE Launches 3rd Survey Vessel (Large) within a year after 1st Vessel

Kolkata, 26 November 22: Maintaining the best of the maritime traditions, the 3rd Survey Vessel (Large) – Yard No 3027, built by Garden Reach Shipbuilders and Engineers (GRSE) Ltd, was launched today by Mrs Madhumati Hampiholi, President NWWA (SR). This is the third vessel in a series of four such ships built by GRSE for the Indian Navy. Vice Admiral MA Hampiholi, AVSM, NM, Flag Officer Commanding in Chief, Southern Naval Command, was the Chief Guest at the event. 

Vice Admiral Kiran Deshmukh, AVSM, VSM, Controller of Warship Production & Acquisition, Vice Admiral Adhir Arora, NM, Chief Hydrographer, Cmde P R Hari IN (Retd), Chairman and Managing Director, GRSE, Cdr S Bose, IN (Retd), Director (Shipbuilding), GRSE, other Senior Officials of GRSE, L&T and Indian Armed Forces also witnessed the ceremony.

Prior launch, the vessel was named “INS Ikshak” and once delivered, this Ship   would play a vital role in charting the seas and safe guarding India’s maritime assets as a part of the Indian Navy. The latest Survey Vessels (Large) series built by GRSE are far more advanced than the earlier survey ships in the Indian Navy’s fleet. These modern, indigenously developed 110-metre long and 16-metres wide vessels have a displacement of nearly 3,400 tonnes and can attain a top speed of 18 knots with an endurance of 6,500 nautical miles.

Vice Admiral MA Hampiholi, in his address, congratulated GRSE on this achievement and commended the shipyard for achieving this launch which epitomizes the stakeholders’ positive spirit and enthusiasm. He said “GRSE has an excellent legacy of ship building for over six decades and in over six decades they have, I am given to understand, delivered close to 800 ships of various hues- big and small of which over 100 of them have been delivered to the Indian Navy, Indian Coast Guard, the friendly foreign counties like Mauritius, Seychelles and the like. So far as the Indian Navy is concerned, GRSE has delivered ships ranging from Fast Attack Crafts, Landing Craft Utilities & Survey Vessels which would be delivered shortly. Corvettes, Frigates and indeed a Fleet Tanker too. It only speaks volumes of their diversification and their abilities, having established and niche capabilities of shipbuilding in the country. Am sanguine that GRSE will only scale to much greater heights and keep up with the vision of being a world leader in building state-of-the-art ships for the country and perhaps the world over times to come. It is extremely heartening to see this collaboration approach by GRSE which speaks volumes of PPP between two entities harnessing the best practices, experiences, knowledge and expertise between the two and is indeed the way to go.”

In his speech during the ceremony, Cmde PR Hari IN (Retd), CMD, GRSE said “As on date GRSE is constructing 15 Warships for the Indian Navy including the Shallow Water Craft Project, the P17 A Project and the Survey Vessel (Large) Project. Considering the growth aspirations of the Indian Navy and orders that are likely to be on the anvil in the coming years, we are very confident that our numbers of 70 deliveries as on date for the Indian Navy, shall touch the Century Mark during the current decade itself. This unique Public Private Partnership Model has stabilized and in GRSEs appreciation, this PPP model is something the nation needs today, where the resident expertise and experience of the Public Sector Shipyards has been married to the operation flexibility of the Private Shipyards, resulting in what the nation needs, Ships on time and with Quality.”  Further, these ships are now being built using the ‘Integrated Construction’ concept, through which maximum pre-outfitting is carried out at the block stage.  

In the 80s, a series of six hydrographic survey vessels were delivered by GRSE to the Indian Navy. The first of them INS Sandhayak was decommissioned in 2021 after serving for 40 years.  The new INS Sandhayak of four SVL ships was launched by GRSE in Dec 21. Another Survey Ship of the Sandhayak Class, INS Nirdeshak was decommissioned in 2014 after 31 years of glorious service. The second ship of this series INS Nirdehsak, was launched by GRSE in May 22. 

Recently, GRSE became the only PSU Shipyard to receive Raksha Mantri’s Award 2022 for Excellence in Defence and Aerospace Sector during DefExpo 22. GRSE is the only shipyard in the country to have built and delivered 105 warships to the Indian Navy and Indian Coast Guard. The shipyard has also exported two warships to Mauritius and Seychelles. In keeping with the Atmanirbhar Bharat theme, GRSE has achieved nearly 90% indigenization on warships delivered, including ASW Corvettes and LCUs. At the moment, GRSE is working on 24 vessels and seven of these are for exports.

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PRESS RELEASE

GRSE Strengthens Green Energy Footprint with Inauguration of another Solar Power Plant

Kolkata, 14 Nov 22: In a bid to reduce the consumption of the conventional energy, Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship-building company of India inaugurated another Solar Power Plant of 200 kWp at the Main Works Unit.

Cmde PR Hari, IN (Retd.) CMD, GRSE inaugurated the Solar Power Plant in the presence of Shri RK Dash, Director (Finance), GRSE, Senior officials and employees of GRSE. The new Solar Plant aims to facilitate reduction in the emission of greenhouse gas and supply power for construction of Warships and other vessels for the Indian Navy and Indian Coast Guard. This 200 kWp Solar Plant is in addition to the Rooftop Solar Plant of 1500 kWp capacity that shows GRSE’s commitment towards green energy for reducing the impact of atmospheric climate change. 

 Recently, GRSE took a revolutionary step towards reducing the Carbon emission in the water transport sector when the Shipyard signed a contract with the Government of West Bengal for design and construction of Next Generation Electric Ferry. It is also playing a key role in defence preparedness of India to produce the most modern warships through indigenization for the country aimed at self-reliance.

PRESS RELEASE

Performance Review of Q2 & H1 FY 23

GRSE REVENUES SOARING: 74% INCREASE OVER H1 OF FY 22

Kolkata, 10 Nov 2022: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country announced its financial results for the second quarter and Half Year ended September 30th, 2022.

 

Q2FY23 Compared with Q1FY23:

  • Revenue from operation is Rs. 682 Cr in Q2FY23 as against Rs. 580 Cr of Q1FY23, an increase of 18%.
  • The Company’s EBITDA stood at Rs.89 Cr as against Rs. 74 Cr in previous quarter.
  • Profit Before Tax (PBT) stood at Rs. 79 Cr for Q2FY23 as against Rs. 64 Cr in Q1FY23 an increase of 23% over previous quarter.
  • Profit After Tax (PAT) stood at Rs. 59 Cr for Q2FY23 an increase of 17% over previous quarter.
  • Earnings per share (EPS) for the quarter ended Q2FY23 stood at Rs. 5.13 against Rs. 4.38 in Q1FY23

Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “H1 of FY 23 has been upbeat with the Revenue from Operations soaring with an increase of 74% over H1 last year. Major production milestones have been achieved during the last six months with mega ship launches including 2nd P17A Advanced Frigate Dunagiri. GRSE has also been conferred with the coveted Green Channel Certification for Supply of Bailey Type Portable Bridges. Further, being the only PSU Shipyard to receive the Raksha Mantri’s Award 2022 for Excellence in Defence & Aerospace Sector at Defexpo 22, has been a great motivator and continuous focus & thrust on maintaining timelines and quality along with clear strategies to improve internal efficiencies at the shipyard gives us the confidence of achieving greater heights both in terms of physical & financial performance, in times to come.

PRESS RELEASE

GRSE undertakes Special Campaign 2.0 for Disposal of Pending Matters: Focus on ‘Scrap Disposal’ & ‘Cleanliness’

Kolkata, 31 Oct : Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship-building company of India, organised a dedicated cleanliness drive as part of Special Campaign 2.0 of Government of India from 02 Oct 22 to 31 Oct 22. The cleanliness drive was conducted across prominent locations in Kolkata & Ranchi including Maa Sarada House ‘Mayer Bari’ near Bagbazar Canal, Kolkata, Govt Women ITI Kolkata, Bichalighat, Metiabruz, 61 Garden Reach Road, P 2/2 Taratala Road, Govt ITI, Gariahat, Fitting Out Unit, ITI Tollygunj Kolkata. All strategic activities were conducted in Kolkata & Ranchi including disposal of Scrap equivalent to 89,720 Kgs with Rs.40.24 Lakhs earned and freed up space of around 3,255 Sq. ft. Under the drive, the shipyardaims to dispose of 200 MT of scrap.

Addressing the media during one of the cleanliness drives organised at 61 Park Unit, Cmde PR Hari, IN (Retd), CMD, GRSE said, “Swachhata is a state of mind, a culture that has been ingrained in our DNA. As part of Special Campaign 2.0, all Units of GRSE participated with great enthusiasm and involved employees and local people to spread the message of cleanliness in Kolkata and Ranchi. The Shipyard aims scrap disposal from its office premises as per the Government of India directives and strive to become a socially responsible defence PSU”.

On the occasion, GRSE also organised ‘MELBANDHAN 2022’, a special event on Vendor Development that aims to strengthen relationship with stakeholders through ‘Ease of Doing Business’ in Shipbuilding. The program provided a platform to enhance awareness amongst vendors on procurement, quality control and self-reliance. The event saw an overwhelming response from various vendors, MSMEs and entrepreneurs.

GRSE has already adopted a holistic approach to implement initiatives under Swachh Vidyalaya Mission under the broader ambit of Swachh Bharat Mission. Multiple interventions have been implemented to improve the overall sanitation and hygiene conditions of the government schools with special thrust on the girls’ schools in Kolkata. Major contribution of GRSE towards Swachh Bharat Abhiyan includes construction of 300 toilets in 46 local schools along with maintenance of 219 toilets and 148 urinals in 20 govt. schools, installation of incinerators in 15 girls’ schools, WASH (Water Sanitation & Hygiene) training to approx. 5000 students of 4 schools, distribution of 170 color coded  waste bins in 31 schools, contribution of Rs 81 lakh to Swachh Bharat Kosh since 2016-17 and contribution of rs 36.50 lakh to clean ganga fund since 2016-17.

The special campaign 2.0 of Government of India is being carried out in two phases – preparatory phase (14 Sep to 30 Sep 22) and implementation phase (02 Oct to 31 Oct 22). The campaign aims to ensure the disposal of pending matters, strengthening internal monitoring mechanisms, improved record management and cleanliness in workspace.

PRESS RELEASE

GRSE CONTINUES SUPPORT TO INDIAN INSTITUTE OF CEREBRAL PALSY

Kolkata, 28 Oct 22: Committed towards improving the quality of life of children affected with cerebral palsy, Garden Reach Shipbuilders & Engineers Limited, a Mini Ratna Category 1 Defence PSU and a leading warship-building company of India, extended support to Indian Institute of Cerebral Palsy (IICP) under its Corporate Social Responsibility initiative for FY 2022-23.

GRSE’s association with IICP dates back to 2009 and since then it has been working towards providing healthcare assistance to the children suffering from cerebral palsy. The children of IICP staged a colourful cultural programme on Swachh Bharat which was followed by handing over of the ceremonial cheque by Cmde PR Hari, IN(Retd.), C&MD, GRSE in the presence of Sri R K Dash, Director (Finance), Cdr Shantanu Bose, IN (Retd), Director (Shipbuilding), Smt. Sonali Nandi, COO & Director-Technical Services, IICP and other senior officials of GRSE & IICP. On the occasion, decorative artworks crafted by the children of IICP were also displayed at the institute.

PRESS RELEASE

GRSE wins ‘Raksha Anveshan Ratna Award’ at the Raksha Mantri Awards for Excellence: Becomes the only Shipyard to win an Award

Kolkata, 21 Oct 22: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), bagged the prestigious ‘Raksha Anveshan Ratna Award’ at the Raksha Mantri Awards for Excellence in Defence & Aerospace Sector 2022. Hon’ble Raksha Mantri Shri Rajnath Singh presented the prestigious award to Team GRSE. GRSE is the only shipyard to have received the much-coveted Raksha Mantri Awards 2022.

‘Raksha Anveshan Ratna Award’ is given for Excellence in Innovation and GRSE won this prestigious Award for ‘Design & Development of Silent Ship for Indian Navy’ under Innovation category. The award ceremony was organised as part of the 12th edition of Government of India’s flagship Defence Exhibition- ‘DefExpo 2022’ at Gandhinagar, Gujarat.

In the past, GRSE has been adjudged Best Performing Defence Shipyard of India for four years in a row (2010-11 to 2013-14). Design and R&D Unit of GRSE has been recognized by DSIR, Ministry of Science and Technology, Government of India. GRSE also bagged Defence Minister’s Award of Excellence 2015-2016 for In-house Design Effort for OPV for Government of Mauritius and other prestigious Awards in R & D, CSR, Corporate Governance, HR Practices & Communication Outreach.