PRESS RELEASE

GRSE Celebrates Azadi Ka Amrit Mahotsav with 100 Tree Plantation Drive

Kolkata, 23 Jun 22: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), a Mini Ratna Category 1 Defence PSU and a leading warship-building company of India,commemorated Azadi Ka Amrit Mahosav (AKAM) celebration with 100 tree sapling plantation drive on 10 & 11 Jun 22 apart from participating in GoI’s flagship AKAM event at Gandhinagar from 06-12 Jun 22 and observing [email protected] Phase VI through multiple Webinars from 17 -23Jun 22.

As part of DPE’s Iconic Week AKAM celebration, GRSE organised the 100 saplings plantation drive across all units taking forward the commitment to conserve and preserve environment.

Participating in GoI’s flagship ‘AKAM MEGA SHOW’ Exhibition-“Nation Building & CPSEs” at Gandhinagar, Gujarat, GRSE provided 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 along with GRSE’s contributions to the nation’s self-reliance capabilities in shipbuilding and allied areas and shipyard’s engagement with the people of the country.

The week-long celebration of [email protected] Phase VI from 17-23 Jun 22 was organised to create awareness of latest sectorial development amongst MSME vendors, stakeholders and employeesand highlight GRSE’s self-reliance efforts in the domain.Online sessions were organised on“Spot Registration of MSME Women Entrepreneur & IDM Registration” on 17 Jun 22, “Global Supply Chain During International Crisis”&“Advancement in Portable Steel Bridges” on 20 Jun 22, “Session with SIDB/KPMG for MSME Vendor Support” on 21 Jun 22, “Green Energy for Inland Water Transportation in India” on 22 Jun 22and“Spot Registration of MSME SC/ST Entrepreneur & IDM Registration” on 23 Jun 22.

The previous five phases of [email protected] celebration were successfully organized by GRSE from 23-28 Apr 21, 16-22 Jul 21, 08-14 Oct 21, 31 Dec 21 to 06 Jan 22&25 -31 Mar 22. GRSE shall continue to celebrate [email protected] in the coming months till Oct 2023 taking forward the Indigenization initiative.

GRSE also observed the 8th International Yoga Day (IDY)across all units on 21 Jun 22. During the month-long celebration (19 May 22-21 Jun 22) of IDY, GRSE organised Yoga Seminar and Yoga session, Yoga & Essay Competitions for all the employees. 

 

PRESS RELEASE

GRSE Achieves Rare Feat by Laying Keels of Three Ships Concurrently

Kolkata (June 17, 2022): Garden Reach Shipbuilders and Engineers (GRSE) Ltd achieved a rare feat by laying the keels of three vessels together. While Yard 3028 is the fourth and last in the series of Sandhayak Class Survey Vessel (Large), Yards 3030 and 3031 are the third and fourth in a series of eight Anti-Submarine Warfare (ASW) Shallow Water Craft being built by GRSE for the Indian Navy. Vice Admiral S N Ghormade, Vice Chief of Naval Staff, PVSM, AVSM, NM, ADC was the chief guest at the occasion.

The keel of a ship runs from its stem to stern and is considered the vessel’s spine. It is only after the keel is laid, that work on a ship starts and her hull takes shape. In olden days, a strong timber beam would be placed on the blocks on which the ship was to be built. As work progressed, parts of the hull would be attached to this beam or keel and the ship would take place. Modern day shipbuilding involves lowering of the entire keel block to which other sections are joined to integrate the ship.

The laying of three keels together portrays GRSE’s capability to work on ships of different classes concurrently. A Survey Vessel (Large), two of which have already been launched by GRSE, is used by the Indian Navy for hydrographic survey and charting of the ocean floor. Such ships are also used to study the entry point to harbours and allow naval vessels adequate clearance during their approach. The ASW Shallow Water Crafts on the other hand are potent Anti-Submarine platforms bustling with weapons, Sonar and Sensors to detect and neutralize any underwater threat in Indian territory. The vessels of both the projects are being built to IRS Class Rules.

Vice Admiral Ghormade, was happy to note that this is the first time ever that the keel laying is being undertaken for three Indian Navy Warships concurrently. This proves enhanced production capabilities of our shipyards & reassures the nation that we are on right path of ‘Atmanirbharta’. He also congratulated GRSE for collaborating with M/s L&T in a Public Private Partnership (PPP) which will pave the way towards enhanced warship construction capabilities of the nation in times to come.

Speaking at the occasion, Cmde P R Hari, IN (retd), Chairman and Managing Director, GRSE, talked about how the premier defence shipyard is gearing up to meet the challenge and deliver state-of-the-art ships, with very high indigenous content, to the Indian Navy and Indian Coast Guard. He spoke about how GRSE is leveraging own technical expertise in ‘Warship Design’ and ‘Supply Chain Management’ coupled with the spare capacity of capable private partner shipyards to simultaneously work on 23 platforms. GRSE is constantly evolving through adoption of latest technology and keeping abreast with modern shipbuilding methods. The shipyard has been successful in bagging orders by participating in competitive bidding and shall continue to meet the demands of the Indian Navy and Indian Coast Guard by designing and building state-of-the-art future ready platforms.

 

PRESS RELEASE

Another Milestone in Defence Export : GRSE Launches Ocean Going Passenger and Cargo Ferry Vessel for the Cooperative Republic of Guyana

Kolkata (June 15, 2022): Mrs Joan Anita Edghill performed the rituals associated with the launch of the 70 metre long Ocean Going Passenger and Cargo Ferry Vessel “MV Ma Lisha” being built by Garden Reach Shipbuilders and Engineers (GRSE) Ltd for the Cooperative Republic of Guyana, on 15 Jun 2022. Mrs Edghill appeared well at ease as she performed the traditional “breaking of coconut” on the vessel’s keel with chanting of mantras in the background.

Mrs Joan Edghill is the spouse of Hon’ble Bishop Juan Anthony Edghill, Minister of Public Works, the Cooperative Republic of Guyana, who was the Chief Guest at the launch ceremony. With this launching, yet another feather was added to GRSE’s cap, as it became the first shipyard in India to have designed and launched a ship for the Co-operative Republic of Guyana, a Latin American Country. 

The other dignitaries present at the occasion were Cmde P R Hari IN (Retd), Chairman and Managing Director, GRSE, Mr. Charrandass Persaud, the Hon’ble High Commissioner of Cooperative Republic of Guyana, Shri R K Dash, Director (Finance), Cdr S Bose, IN (Retd), Director (Shipbuilding), Ms Rosalinda Rasul, Chairperson, Transport and Harbours Department Board of the Cooperative Republic of Guyana, Mr. Patrick Thompson, Chief Transport Planning Officer, Ministry of Public Works, Guyana and senior officials from Indian Armed Forces, GRSE and M/s TWL.

GRSE participated in the Ferry’s Tender Process, bagging the US$ 12.73 million contract through competitive bidding. The Government of India stepped in to fund the vessel through a grant and a line of credit to the Cooperative Republic of Guyana. GRSE signed the contract on January 13, 2021 and despite challenges posed by pandemic, has succeeded in launching this ferry in less than seven months after its keel was laid.

In his address, Cmde P R Hari IN (Retd), Chairman and Managing Director, GRSE, acknowledged the role of the Indian High Commission in Guyana for ensuring fructification of this prestigious project. He went on to explain how this ship, propelled by two diesel engines will be able to accommodate 294 passengers (including a 14 crew members), 14 cars, 2 trucks, 14 containers and other cargo and transport them at speeds up to 15 knots. For GRSE it has been a labour of love to build this vessel, given the fact that over 40% of the population in the Cooperative Republic of Guyana are of Indian origin. Some of the workmen who are helping in building the vessel may even belong to villages in Bihar and Uttar Pradesh from where people migrated to Guyana. Whilst complimenting the team for achieving the ‘launch’ milestone ahead of schedule, he expressed confidence that the ship shall be delivered on schedule to meet the expectations of the people of Guyana and will foster friendship and cooperation between the two countries.

Bishop Edghill, surprised the audience as he commenced his address by greeting the audience in ‘Bhojpuri’ and highlighted the similarities between people of India and Guyana! He also highlighted that both countries were a land of many rivers and spoke on the importance of this vessel in his country’s northwest sector that has a lot of movement along riverine and coastal routes. He stated that the name “Ma Lisha” means friendship and has been chosen to symbolise the great bonds of friendship between Guyana and India. MV Ma Lisha, once completed and delivered will be the largest of all vessels operating there. Its speed will also cut down the travel time by half. He acknowledged the efforts of GRSE in progressing ship production during the tough pandemic times towards achieving this major milestone.

The minister also spoke on how May 5th, the day when the SS Whitby docked at Highbury, is still celebrated as Indian Arrival Day at Guyana. He spoke on how people of Indian origin have adopted the country as their own and worked towards its development, whilst continuing to hold on to their culture and beliefs. Festivals like Diwali and Holi are public holidays in Guyana.

Both Cmde Hari and Bishop Edghill said that this collaboration would herald in better ties between the two nations. 

 

PRESS RELEASE

Commodore PR Hari, IN (Retd.) takes over as Chairman & Managing Director of Garden Reach Shipbuilders & Engineers Ltd

Kolkata, 10 Jun 22: Commodore P R Hari, IN (Retd), took over as Chairman & Managing Director, Garden Reach Shipbuilders & Engineers (GRSE) Ltd on 10 Jun 22. He has a vast experience of over 32 years in warship operations, maintenance, design and shipbuilding. He has been in charge of Production Planning of all the new construction ships built at the Shipyard since 2016 and assumed charge as Director (Personnel) of the Company on 21 Oct 19 and headed the Human Resources, Corporate Planning and Technical functions of GRSE including ERP and Yard Modernisation.

Cmde Hari served for over 28 years in the Indian Navy where he has served in Senior appointments onboard Warships and at Naval Repair Organisations. He also held important Staff Appointments and also steered the Indigenous Aircraft Carrier project as Warship Production Superintendent, Kochi. He holds a Bachelor’s Degree in Mechanical Engineering and a Master’s in Defence & Strategic Studies. An alumnus of the Defence Services Staff College, Wellington, the officer also underwent the 5th Higher Defence Orientation Course at the Army War College, Mhow and the prestigious Naval Higher Command Course at Naval War College, Goa. Cmde Hari is a keen sportsman, a voracious reader, and an extempore speaker who occasionally pens his thoughts.

Cmde Hari has a vision to take GRSE to the next level of existence by inducting latest technology such as Artificial Intelligence in operations and adopting transformational changes in human resource management. He is an inspiring force, leading his entire workforce towards timely execution of ongoing projects and execution of the robust order book whilst looking ahead and participating in competitive tendering processes towards bagging orders for modern warships. His aim is to create competitive advantage through creation of modern infrastructure and technical collaborations for building modern warships.

GRSE with the unique experience of building the  ‘Kamorta’ Class Anti-Submarine Warfare Corvettes and the ‘Kora’ class guided missile corvettes will certainly be a key contender to clinch orders for the Indian Navy’s Next Generation Corvette (NGC) announced recently by the Defence Ministry and his astute leadership could prove to be the game changer. 

PRESS RELEASE

Commander Shantanu Bose, IN (Retd.) takes over as Director (Shipbuilding) of Garden Reach Shipbuilders & Engineers Ltd

Kolkata, 08 Jun 22: Commander Shantanu Bose, IN (Retd.), took over as Director (Shipbuilding) of Garden Reach Shipbuilders & Engineers (GRSE) Ltd on June 8, 2022. Cdr S Bose is a highly qualified and experienced naval architect who has been in charge of several projects undertaken by GRSE since 2013. Before taking charge as Director (Shipbuilding), he was General Manager (MW) and (P17A) and Project Superintendent of Project 17A of the Indian Navy under which three advanced guided missile stealth frigates are being built by the company in Kolkata.

Cdr Bose completed his B.Tech in Naval Architecture and Shipbuilding from Cochin University before going in for higher studies at IIT Delhi. He also holds a Post Graduate Diploma in Management. Between 2009 and 2013, he was Officer-in-Charge of the Navy Shipwright School INS Vishwakarma in Visakhapatnam. During this period, he trained officers and sailors of the Indian Navy as well as foreign navies in naval architecture while carrying out coordination and planning.

From INS Vishwakarma, Cdr Bose moved to GRSE as Deputy General Manager. He was then hull in-charge of Project 28 ships at GRSE’s Fitting Out Jetty (FOJ) and responsible for the successful delivery of Anti-Submarine Warfare Corvettes INS Kamorta and INS Kadmatt. During this period, he was recipient of the GRSE Shree for Outstanding Performance. In 2016, he was elevated to the position of Additional General Manager and took charge of the Hull & CAD in Central Design Office. 

He was the lead designer for the Survey Vessels (Large), four of which are now being built by GRSE. He was responsible for monitoring, coordination and control. Cdr Bose’s elevation to this important position comes at a time when GRSE is building three classes of advanced ships for the Indian Navy, from large frigates to comparatively smaller shallow water craft. He holds membership of the Institution of Engineering (India) and Institution of Naval Architecture and is a chartered Engineer.

PRESS RELEASE
GRSE Launches 2nd Survey Vessel (Large) within six months after 1st Vessel

26 May 2022 : Survey Vessel (Large) – Yard No 3026 – being built by Garden Reach Shipbuilders and Engineers (GRSE) Ltd, was launched by Smt Sarbani Dasgupta, wife of Vice Admiral Biswajit Dasgupta, AVSM, YSM, VSM, Flag Officer Commanding-in-Chief, Eastern Naval Command on 26 May 2022. Vice Admiral Biswajit Dasgupta was the Chief Guest at the occasion. This is the second vessel in a series of four such ships being built by GRSE for the Indian Navy to be launched in less than six months. The first ship, INS Sandhayak, was launched in Kolkata on December 5, 2021.

Among the others present at the ceremony were 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 (Officiating) GRSE, Shri R K Dash, Director (Finance), GRSE, other Senior Officials of GRSE, L&T and Indian Armed Forces

GRSE has a vast experience in building Survey Ships for the Indian Navy. In the 80s, a series of six hydrographic survey vessels were delivered by GRSE to the Indian Navy. The first of them was named INS Sandhayak. After serving for 40 years, the Ship was decommissioned in 2021, a few months before the new INS Sandhayak was reborn in Kolkata in Dec 21. The launch of INS Nirdeshak now signals the rebirth of ex-INS Nirdeshak, another Survey Ship of the Sandhayak Class built by GRSE in 1983 and later decommissioned in 2014 after 31 years of glorious service.

The latest series of Survey Vessels (Large) being built by GRSE are far more advanced as compared to the earlier series of survey ships in the Indian Navy’s fleet. These modern, indigenously developed 110-metres long and 16-metres wide ships 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.

Congratulating GRSE on the achievement, Vice Admiral Dasgupta acknowledged that a large number of ships of the Eastern Fleet are being built by GRSE. He said, “The newer ship ‘Nirdeshak’ will be more capable, larger, modern, state-of-the-art with advanced propulsion and maneuvering and will be able to operate autonomous and remotely operated systems. The ship’s ability to perform full spectrum of hydrographic and oceanographic operations of the Indian Navy will make us even more potent and foreign navies are looking to the Indian Navy for the hydrographic co-operation. The vessel has achieved 80% of Indigenization by cost which is a significant achievement for Indian shipbuilding.” Applauding the efforts of the Indian shipyards, he highlighted the tremendous shipbuilding opportunities ahead with 31 ships to be constructed in the coming years by the Indian Navy and expressed hope that the near future will see Indian shipbuilding industry making serious inroads in obtaining a much larger share in the global shipbuilding.

In his speech during the ceremony Cmde P R Hari IN (Retd) highlighted the capability of these ships and acknowledged the contribution from all stakeholders including industry partners in achieving the major milestone with 45% physical progress. These ships are capable of full scale coastal and deep-water hydrographic survey of port and harbour approaches and determination of navigation channels and routes. They can also carry out survey of maritime limits and collect oceanographic and geographic data for defence applications. These ships are propelled by two marine diesel engines combined with fixed pitch propellers, and are fitted with bow and stern thrusters for maneuvering at low speeds while carrying out surveys.

In order to ensure swift delivery of quality, GRSE has now enhanced its capacity through tie-ups with capable Private Shipyards under the Public Private Partnership (PPP) mode for part construction of ships. Further, these ships are now being built using the ‘Integrated Construction’ concept through which maximum pre-outfitting is being carried out at the block stage itself. 

GRSE is the only shipyard in the country to have built and delivered 105 warships to the Indian Navy and Indian Coast Guard. Two warships built by this shipyard were also exported by the Government of India to Mauritius and the Seychelles. At the moment, GRSE is working on 23 ships. Seven of these are for foreign orders. This Defence PSU has also been bagging orders through competitive bidding. Among the larger ships that GRSE is working on now are the Stealth Frigates under the Indian Navy’s Project 17A. The shipyard is also building Anti-Submarine Warfare Shallow Water Craft for the Indian Navy. In keeping with the Atmanirbhar Bharat theme, GRSE has achieved nearly 90% indigenization, even for large ships.   

PRESS RELEASE
Performance Review Q4 & Year ended FY22

25 May 2022 : Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the premier warship builders of our nation, have announced the Company’s financial results for the last quarter and fiscal year ended 31st March 2022. The Defence PSU has achieved a turnover of Rs 1758 crore registering a growth of 54 percent over the turnover achieved during the previous FY 2020-21. The company has earned an operating profit of Rs 104 crore for FY 2021-22

Year ended FY22 Compared with Year ended FY21:

  • The Total Income stood at Rs.1918 crore in Year ended 31st March 2022 as against Rs 1327 crore in Year ended 31st March 2021, an increase of Rs. 591 crore and registering growth of 45 %.
  • Revenue from operations for the Year ended 31st March 2022 stood at Rs. 1758 crore as compared to Rs 1141 crore in Year ended 31st March 2021, an increase of Rs. 617 crore and registering growth of 54%.
  • The Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) stands at Rs. 294 crore in Year ended 31st March 2022 as against Rs 237 crore in Year ended 31st March 2021, thus registering a growth of 24%. The Company’s EBITDA margin stood at 15%.
  • Profit Before Tax (PBT) stood at Rs 257 crore for Year ended 31st March 2022 as compared to Rs 207 crore in Year ended 31st March 2021, registering a growth of 24%. The Company’s PBT margin stood at 13%.
  • Profit After Tax (PAT) stood at Rs.190 crore in Year ended 31st March 2022 as against Rs 153 crore in Year ended 31st March 2021, registering a growth of 24%. The Company’s PAT margin stood at 10%.
  • Earnings per share (EPS) for the Year ended 31st March 2022 stood at Rs 16.55 compared to Rs 13.40 in Year ended 31st March 2021.

Q4 FY22 Compared with Q4 FY21:

  • Revenue from operation is Rs. 545 crore in Q4 FY22 as against Rs.399 crore in Q4 FY21, an increase of Rs 146 crore and registering growth of 37%.
  • The Total income stood at Rs. 585 crore in Q4 FY22 as against Rs.448 crore in Q4 FY21, an increase of Rs 137 crore and registering growth of 31%.

Q4 FY22 Compared with Q3 FY22:

  • Revenue from operation is Rs. 545 crore in Q4 FY22 as against Rs.487 crore of Q3 FY22, an increase of Rs 58 crore and registering growth of 12%
  • The Total income stood at Rs. 585 crore in Q4 FY22 as against Rs.531 crore of Q3 FY22, an increased of Rs 54 crore and registering growth of 10%.

Commenting on the results, Cmde P R Hari IN (Retd), Chairman and Managing Director (Officiating), GRSE, said, “FY22 has been a fantastic year in terms of financial performance with us recording the highest ever turnover and operating profit in the history of the company. We have effectively managed the challenges posed by the Covid-19 pandemic especially during the first half of the year and achieved major shipbuilding projects milestones including ‘Launch of one Survey Vessel’ and ‘Laying of Keel of 05 Vessels’. We have also signed an MoU with DGBR for 27 Bailey type Portable Steel Bridges and a Concessional Agreement with Shyama Prasad Mookerjee Port (SMP) for long term lease of three dry docks. With a healthy order book of Rs 24,130 crore as on 31 March 22 and a very clear project execution strategy, the company is on an accelerated growth trajectory and we are confident of meeting our customer expectations. Our focus, in addition to domestic warship building is on exports, ship repairs, product diversification with thrust on ‘green energy platforms’, ‘R&D’ and digitalization in the entire spectrum of operations.”