Press Releases 2023-24 - Quarter 4

PRESS RELEASE

GRSE Turnover Touches a New High: Records YoY growth of 33 % in the Annual Turnover for FY24

Kolkata, 31 Mar 2024: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country, continues to maintain an upward financial growth and has achieved an Annual Turnover to the tune of `3,400 crore (Provisional & Unaudited) for FY 2023-24, the highest ever in the history of the company. The robust financial performance has been achieved by the company through effective management of resources and improved internal efficiencies. The Company had also declared an interim dividend @ 79% of Paid-up Share Capital against 55% of previous year. In addition to being a leader in the shipbuilding sector in India, GRSE is a fully diversified company with products ranging from "Warships to Weapons".

FY 2023-24 has been a remarkable year for the company, both in terms of physical & financial performance. Commissioning of GRSE built ship, MV 'Ma Lisha' for the Cooperative Republic of Guyana, was a milestone achievement. Further, GRSE has also delivered the 1st Survey Vessel (Large), INS Sandhayak, the largest Survey Vessel of our nation, on 04 Dec 2023, and the 'Next Generation Electric Ferry' to the Govt. of West Bengal on 22 Mar 2024. The year gone by can also be called an 'year of launches', the most significant being the launch of the 3rd P17A Advanced Frigate, Yard 3024, by the Hon'ble President of India on 17 Aug 2023.

The company signed a MoU with the Border Roads Organisation (BRO) for the fabrication, supply, erection and launching of additional 30 Double-Lane Class 70 modular steel bridges in border areas. Additionally, the order bagged for indigenously developing and supplying ten 30 mm Naval Surface Gun for Indian Navy is another landmark achievement. Besides, the successful launch of "GRSE Accelerated Innovation Nurturing Scheme (GAINS)" focusing on leveraging the strengths of the Start-up ecosystem to foster the spirit of innovation, launch of AUV "Neerakshi" and order received for an "Unmanned Surface Vessel", accentuated the innovation journey of GRSE towards new technology adaption.

An array of awards and accolades added impetus to GRSE's commitment for excellence. The company bagged the prestigious WSO India Maritime OHS&E Awards 2022, Governance Now 9th PSU Awards, "Company of the Year" award and four awards at 13th ICC-PSE Excellence Awards 2023, SKOCH Award for Innovation and 'PRSI National Awards 23'.

PRESS RELEASE

GAINS 2023 - Winners Awarded Funding Orders

Kolkata, 26 Mar 2024: 'GAINS-2023 Funding Awards Ceremony' was held at GRSE Bhavan on Tuesday, 26 March 24. Garden Reach Shipbuilders and Engineers (GRSE) Ltd has instituted the GRSE Accelerated Innovation Nurturing Scheme (GAINS) to encourage innovative solutions for the shipbuilding industry and the Funding Awards Ceremony was held to formally award funding to M/s Smart Machines and Structures, registered as a Micro, Small & Medium Enterprise (MSME) Unit, and M/s Bodkin Technologies Pvt Ltd, a Start-Up, for their innovative solutions that would have wide application in shipyards.

Cmde PR Hari, IN(Retd.), Chairman & Managing Director, GRSE, presented the award to Shri Srinivas Aluri, Founder, M/s Smart Machines and Structures & Shri Jubin George Kurien, CEO & Founder, M/s Bodkin Technologies Pvt Ltd. Shri RK Dash, Director (Finance), GRSE, Cdr Shantanu Bose IN(Retd.), Director (Shipbuilding), GRSE, DIG Subrato Ghosh, ICG (Retd.), Director (Personnel), GRSE, and other Senior officials of GRSE were present at the occasion.

GAINS 2023, an Open Innovation Challenge under the GRSE Innovation Nurturing Scheme, was launched by the Hon'ble Minister of State for Skill Development, Entrepreneurship, Electronics & IT, Shri Rajeev Chandrashekar on 22 May 23. As part of GAINS 2023, besides structured outreach programs, innovators were provided the opportunity to visit the shipyard's facilities and interact with various departments to get an insight into the operational intricacies. The Open Challenge received an overwhelming response with 50 responses received from innovators across the country, from which six promising proposals were selected for detailed evaluation. GAINS is an effort by GRSE to nurture the spirit of innovation in the shipbuilding industry in keeping with the 'Make in India' and 'Start-up India' initiatives of the Government of India and the vision of Atmanirbharta.

GAINS 2023 was a two Stage Open Challenge with AI, Renewable/Green Energy & Energy Efficiency and Efficiency Enhancement as the theme areas. Out of the fifty proposals received at Stage-I, six proposals were selected for detailed evaluation in Stage-II. The six innovators submitted detailed proposals as Part of Stage II and they were paid a sum of up to Rs 4 lakh each for their efforts. Finally, after a rigorous selection process, M/s Smart Machines and Structures of Hyderabad and M/s Bodkin Technologies Pvt Ltd of Thiruvananthapuram were declared winners of GAINS 2023. While M/s Smart Machines and Structures will work on an AI based Material Code Generation and Management Systems, M/s Bodkin Technologies Pvt Ltd will take up the development of Robots for exterior painting of ships. Both these projects will be funded by GRSE.

PRESS RELEASE

GRSE Bags Governance Now PSU Awards in 'Communication Outreach' for Five Years in a Row: Also, Bags Awards in Nation Building & Reskilling of Employees Categories

Kolkata, 22 Mar 2024: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), has bagged Awards in Communication Outreach, Reskilling of Employees (Training & Development) and Nation Building categories at the 10th Governance Now PSU Awards. CGM (Corporate Planning & Communication Communication), GRSE, Cdr Bhaskar Sengupta, received the awards on behalf of GRSE presented by Smt. Nirmal Kaur, IPS, Former DGP, Jharkhand and Padma Shree Dr Sanjeev Bagai, Chairman, Nephron Clinic at an award function in New Delhi on 22 Mar 24. It is noteworthy to mention that GRSE has been adjudged winner of the Communication Outreach Award for the fifth year in a row.

Governance Now PSU Awards honour the efforts of Public Sector Undertakings (PSUs) that have been key to the country's growth and are given for their commitment to excellence, developing best practices and innovative strategies.

PRESS RELEASE

Historic Achievement: Simultaneous Launch of Two ASWSWC Warships for Indian Navy

Kolkata, 13 Mar 2024: Garden Reach Shipbuilders and Engineers (GRSE) Ltd reached yet another significant milestone by simultaneously launching two ASWSWC warships for the Indian Navy on Wednesday, March 13, 2024. It was certainly a treat for the eyes of those present as these two magnificent platforms touched water for the first time below their keels.

The ships were launched by Mrs Neeta Chaudhari, President Air Force Families Welfare Association (IFFWA) & wife of Air Chief Marshal Vivek Ram Chaudhari, Chief of the Air Staff, Indian Air Force. Air Chief Marshal Chaudhari was chief guest at the occasion. Among the others present were Lt Gen R. C. Tiwari, Army Commander, Eastern Command, Cmde P R Hari, IN (Retd), Chairman and Managing Director, GRSE, Shri RK Dash, Director (Finance), GRSE, Cdr S Bose, Director (Shipbuilding), GRSE, DIG Subrato Ghosh, ICG (Retd), Director (Personnel), GRSE & other Senior officials of Indian Armed Forces, MoD & GRSE.

After the ceremonial launch that involved applying of 'Kumkum' on both ships and breaking of coconuts, Mrs Chaudhari named them "INS Agray" and "INS Akshay". These ships are actually reincarnations of Abhay-class warships of the Indian Navy. While the original INS Agray was decommissioned in 2017, INS Akshay was decommissioned in 2022.

These two vessels were 5th and 6th in a series of 8 Anti-Submarine Warfare Shallow Water Crafts (ASW SWCs) being built by GRSE. What made the twin launches more significant is that they came less than four months after the launch of the 4th warship of this class. This highlights GRSE's commitment towards delivering warships well within schedule to our maritime forces.

The primary role of an ASW SWC is to conduct anti-submarine operations in coastal waters, Low Intensity Maritime Operations (LIMO) and mine laying operations. These 77.6-metre-long and 10.5-metre-wide extremely potent warships are also capable of full-scale sub-surface surveillance of coastal waters, various surface platforms and coordinated anti-submarine operations with aircraft.

The ASW SWCs are compact waterjet-propelled ships capable of reaching maximum speeds of 25 Knots. These ships pack a lethal anti-submarine suite comprising light weight torpedoes, ASW rockets and mines. They are also armed with 30 mm Close-in Weapon System (30 mm) and 12.7 mm Stabilised Remote-Control Guns. The platforms are fitted with a Hull Mounted Sonar and a Low-Frequency Variable Depth Sonar.

Air Chief Marshal VR Chaudhari lauded the efforts of GRSE towards meeting requirements of nation's maritime forces.

"Having launched four out of eight Arnala class of ships, today's launch of two more ships is another feather in the cap, not only of GRSE but of Indian Navy as well. These eight Anti-Submarine Warfare Shallow Watercrafts would replace the in-service Abhay class as mentioned by Cmde Hari, being fitted with state-of-the-art sensors, sonars, along with torpedoes and rocket launchers and they will significantly boost Indian Navy's capabilities.

I am confident that GRSE will continue to play a pivotal role in achieving self-reliance in the defence sector. Your quest for innovation and fostering a skilled workforce is commendable and paves the way for a stronger and self-sufficient India." he said.

Cmde Hari spoke on how GRSE is committed towards the designing and building of advanced warships.

"A future ready shipyard, we are fully geared-up to meet expectations of the Navy & Coast Guard. A clear vision, world-class infrastructure, best HR talent available in the country and focused efforts for new technology adaption has propelled the shipyard on a path towards becoming a global leader in warship building" he said.

PRESS RELEASE

GRSE Empowers Women with series of initiatives leading up to International Women's Day

Kolkata, 08 Mar 2024: Garden Reach Shipbuilders & Engineers Ltd (GRSE) exhibited its unwavering commitment to women's empowerment ahead of International Women's Day. Commencing from the end of February 2024, GRSE initiated a series of initiatives aimed at supporting and honouring its female workforce. The first initiative focused on women's health, aligning with the Government of India's efforts to promote cervical cancer awareness. Expert gynaecologists from Apollo Hospitals conducted PAP Smear tests for female employees, underscoring GRSE's dedication to employee wellness and health promotion.

Following this health initiative, GRSE organised the "Vanita - A Day-Out Programme" as part of the International Women's Day celebration on March 6, 2024, bringing together women employees of the company for a day to connect and celebrate. The event featured various group activities and captivating cultural performances, fostering camaraderie and enjoyment for all participants. Cmde PR Hari, IN (Retd), CMD, GRSE, graced the occasion as Chief Guest. Shri RK Dash, Director (Finance), Cdr S Bose, IN(Retd), Director (Shipbuilding), DIG S Ghosh, ICG(Retd), Director (Personnel), and other senior officials of GRSE were also present on the occasion to encourage the participants. Furthermore, GRSE's women employees shall be actively participating in an online training session on the theme "Invest in Women: Accelerate Progress," organised by the Women In Public Sector (WIPS)- Eastern Region on March 11, 2024. This initiative reflects GRSE's ongoing efforts to empower women at the workplace and facilitate their professional development.

As GRSE continues its journey towards gender equality and inclusivity, International Women's Day serves as a poignant reminder of the invaluable contributions of women to the company's success.

PRESS RELEASE

GRSE & IRS Collaborate on Development of Green Energy and Autonomous Vessels

Kolkata, 04 Mar 2024: Garden Reach Shipbuilders and Engineers Ltd. (GRSE) and Indian Register of Shipping (IRS) have reaffirmed their commitment to innovation, new technology adoption and sustainability with the signing of a Memorandum of Understanding (MoU) on 02 Mar 24 on the development of Green Energy and Autonomous Vessels, aimed at revolutionizing the maritime industry. The MoU was signed between DIG Subrato Ghosh, ICG (Retd), Director (Personnel), GRSE and Sri P.K. Mishra, Joint Managing Director, IRS, in the presence of Cmde PR Hari, IN(Retd), CMD, GRSE, Shri Arun Sharma, Executive Chairman IRS and other senior officials from GRSE & IRS.

The strategic partnership between GRSE, a leading shipbuilding company, and IRS, a premier classification society, underscores a shared commitment towards harnessing advanced technologies and expertise to address the evolving needs of the maritime sector. Through this MoU, both entities aim to pool their strengths and resources to drive innovation and excellence in vessel design and development.

The primary objective of the collaboration is to jointly pursue and execute contracts for the development of autonomous and green energy vessels, leveraging the complementary capabilities of GRSE and IRS. Under the scope of cooperation outlined in the MoU, IRS will provide specialized expertise and guidance towards the development of autonomous and green energy vessels, ensuring compliance with evolving safety standards and regulatory requirements.

GRSE, on the other hand, will benefit from IRS's insights and recommendations in the vessel design and development process, enabling the integration of the latest industry standards and best practices. By harnessing IRS's classification expertise and GRSE's shipbuilding prowess, the collaborative effort seeks to deliver cutting-edge solutions that prioritize environmental sustainability, safety, and efficiency.

Under the Green Energy segment, GRSE has already launched a Next Generation (NG) Electric Ferry for the Government of West Bengal, that aims to replace diesel-engine run ferries with green platforms that use only batteries and solar power. As part of Autonomous systems development, GRSE in collaboration with start-ups has developed an Unmanned Surface Vessel (USV), 'Swadheen' to facilitate autonomous surveys, and an Autonomous Underwater Vehicle (AUV) 'Neerakshi' capable of carrying a variety of payloads required for roles like mine detection, ASW training, underwater inspection, search & rescue missions and scientific exploration. The signing of this MoU marks a significant milestone in the journey towards fostering innovation and sustainability in the maritime industry. IRS and GRSE are poised to drive positive change and propel India towards a greener and more technologically advanced future.

PRESS RELEASE

GRSE Pays Interim Dividend of Rs 90.73 Crores for FY 2023-24: Hands Over Dividend Cheque to Government of India

New Delhi, 01 Mar 2024: Garden Reach Shipbuilders and Engineers Ltd., (GRSE), has paid an interim dividend of Rs. 90.73 Crores for FY 2023-24 to its shareholders. The Interim Dividend Cheque amounting to Rs. 67.59 Crore 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 of GRSE Ltd. Kolkata, today at New Delhi in the presence of Shri Giridhar Aramane, Defence Secretary, Shri T Natarajan, Additional Secretary (Defence Production), Shri R K Dash, Director (Finance), GRSE.

GRSE has declared an interim dividend of Rs. 7.92 per equity share of Rs.10 for FY 23-24 against Rs.5.50 in FY 22-23. GRSE has been consistent in paying dividend to the Shareholders and has done so every year for the last 30 years. The company has strong order book position of Rs 22792.89 Crore as on 31 Dec 23.

PRESS RELEASE

Milestone Achievement: GRSE Bags CII-AI Award

Kolkata, 28 Feb 2024: Garden Reach Shipbuilders and Engineers Ltd. (GRSE), has made history by becoming the first Public Sector Undertaking to receive the esteemed AI Award instituted by Confederation of Indian Industry (CII). GRSE has been conferred with this prestigious award for "Excellence in Best Use of AI Technology/Products/Solutions by Industry through Academia Collaboration" at the Global Artificial Intelligence (AI) Summit & Awards 2023 organised by CII on the theme "Responsible AI for Accelerated Growth in India" in New Delhi on 26 Feb 24. The award was received on behalf of GRSE by Shri Gulshan Ratan, General Manager (QA, VD & Indigenisation) and Shri Umesh Paswan, Senior Manager, QA.

This prestigious Award recognizes GRSE's pioneering work in developing "Artificial Intelligence Enabled NDT", a rule based, AI software implemented for weld quality evaluation of Radiography film. The software aims to replace manual film evaluation system with an intelligent solution. The software, marketed as "intelligent Weld inspector (I-weld)" utilizes Deep Learning (DL) Tools of AI for identification, classification, and localization of weld defects with decision-making capabilities based on Naval, Marine and ISO standards. The AI CNN module with robust Graphic User Interface (GUI), facilitates automatic report generation, paperless record keeping and retrieval of quality documents. Adoption of this Al software has significantly reduced dependency on human expertise, thereby streamlining the evaluation process of Radiography Test (RT) Films. "Intelligent Weld inspector (i-weld)" software has been developed by Quality Assurance Team of GRSE in collaboration with CoEAMT, IIT Kharagpur. This software has also been certified by IRCLASS.

GRSE has successfully attained copyright IP for the software and Trademark IP for "i Weld" logo registered with Indian Patent Office.

Constituted by CII, the inaugural edition of CII-AI Awards aims to encourage adoption of AI by Indian Industry, to create awareness about the benefits of AI led technologies and to recognise & reward those leading the AI revolution in India.

PRESS RELEASE

Twin Accolades for GRSE: 'CEO of the Year' & 'CEO with HR Orientation' Awards

Kolkata, 26 Feb 2024: Chairman & Managing Director, Garden Reach Shipbuilders & Engineers Ltd., Cmde PR Hari, IN (Retd) has been recognized with the esteemed 'CEO of the Year Award' at the 22nd Global Edition - Business Leader of the Year 2024 along with the 'CEO with HR Orientation Award' at the World HRD Congress 2024.

These prestigious awards were conferred in recognition of GRSE's outstanding performance, strategic vision, and significant contributions to the industry with a commitment to fostering a culture of excellence, innovation, and employee development within the organization.

These recognitions underscore GRSE's dedication to prioritising business growth with effective human resources management and ensuring the holistic growth of GRSE's workforce. Hosted by the 32nd edition of World HRD Congress & 22nd edition of Business Leader of the year, these awards recognize outstanding efforts of industry leaders whose contributions have paved the way for growth and progress.

As GRSE continues to push the boundaries of innovation and excellence, these awards serve as a testament to its relentless pursuit of excellence and its commitment to empowering its workforce for future success.

PRESS RELEASE

GRSE Wins Award at 34th Annual Conclave of WIPS 2024

Kolkata, 16 Feb 2024: Garden Reach Shipbuilders & Engineers Ltd (GRSE) has been honoured with the prestigious Women in Public Sector (WIPS) Award 2024 at the 34th WIPS National Meet held at Hindustan Aeronautics Ltd Management Academy, Bengaluru. The award was presented to GRSE by Her Highness Smt. Pramoda Devi Wadiyar, the Maharani of Mysore, in the esteemed presence of Shri Atul Sobti, Director General, Standing Conference of Public Enterprises (SCOPE), Smt. Varsha S. Raut, President, WIPS APEX, members of WIPS APEX, Central Governing Body Members and other dignitaries representing various Public Sector Undertakings.

The WIPS Award acknowledges GRSE's steadfast commitment and active participation in WIPS activities within the company. Over the years, GRSE's management has consistently supported and championed initiatives aimed at fostering diversity and inclusivity within its workforce. This marks the fifth consecutive award for the GRSE-WIPS cell, underscoring the organisation's unwavering dedication to gender equality and empowerment. The WIPS award was instituted by the Central APEX Forum of WIPS in 1992 and is presented annually to select PSUs in recognition of the finest efforts made to harness the growth & development of Women in PSUs.

PRESS RELEASE

GRSE Forges Dual Strategic Alliances: Partners with Hindalco for Aluminium Procurement and Signs MoU with BRO for Modular Steel Bridge Development

Kolkata, 15 Feb 2024: Garden Reach Shipbuilders & Engineering Ltd, signed a Memorandum of Understanding (MoU) with HINDALCO Industries Limited, a flagship company of the Aditya Birla Group, for the procurement of Aluminium Sections. The MoU was signed by Cmde PR Hari IN (Retd.), Chairman & Managing Director, GRSE, and Mr. Nilesh Koul, Senior President and CEO of Aluminium Downstream, HINDALCO in the presence of Shri R K Dash, Director (Finance), Cdr Shantanu Bose, Director (Shipbuilding) and Senior officials of GRSE & HINDALCO.

The MoU aims for a strategic collaboration between GRSE and HINDALCO to enhance the capabilities and resources for the production of high-quality Aluminium Sections required for various shipbuilding projects undertaken by GRSE. Additionally, as part of the agreement, GRSE and HINDALCO will engage in the procurement of approximately 800 MT (approx.) of Aluminium Plates of various thicknesses.

In a parallel development, GRSE inked another MoU with the Border Roads Organisation (BRO) for the supply of 200 feet Single Lane Modular Steel Bridge in disaster affected areas of North Sikkim, further strengthening its commitment to delivering top-notch infrastructure solutions. The MoU was signed between Brig Alok V Mishra, DDG (TA), DGBR & DIG Subrato Ghosh, ICG (Retd.), Director (Personnel), GRSE in New Delhi in the presence of senior officials of GRSE & BRO.

In the last two years, GRSE has signed MoUs with BRO for the construction of over 75 Steel Bridges. So far, the company's Bailey Bridge Division has supplied more than 5500 portable steel bridges to the Indian Army, BRO, state PWDs and the central government. GRSE also exports such bridges to friendly foreign countries such as Nepal, Bhutan, Bangladesh, Myanmar and Sri Lanka.

These collaborations not only underscore the mutual commitment to quality and innovation but also strengthen the indigenous manufacturing ecosystem, contributing significantly to India's maritime and infrastructure development goals.

PRESS RELEASE

GRSE Revenue & Profit Surges - "Q3 & 9M / FY24"

Kolkata, 13 Feb 2024: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country has announced its financial results for the third quarter & nine months ended December 31st, 2023.

9M FY24 Compared with 9M FY23:

• The Total Income stood at Rs. 2,801 Crore in 9M FY24 as against Rs. 2,092 Crore in 9M FY23, with an increase by 34%
• Revenues from operations for the 9M FY24 stood at Rs. 2,577 Crore as compared to Rs. 1,960 Crore in 9M FY23, with a growth of 31%
• The Earnings before Interest, Tax, Depreciation and Amortization (Core EBITDA) stands Rs. 367 Crore in 9M FY24, as against Rs 261 Crore in 9M FY23. The Company's EBITDA margin stood at 13%
• Profit Before Tax (PBT) stood at Rs. 328 Crore for 9M FY24 as compared to Rs 229 Crore in 9M FY23.The Company's PBT margin stood at 12%
• Profit After Tax (PAT) stood Rs. 246 Crore in 9M FY24 as against Rs. 173 Crore in 9M FY23.The Company's PAT margin stood at 9%
• Earnings per share (EPS) for the nine months stood at Rs. 21.45 as compared to Rs. 15.09 in 9M FY23, registering a growth of 42%

Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, "Our Revenue from Operations and PAT have been on a steady upward trend. Our ongoing shipbuilding projects are at a maximum revenue recognition stage & we are confident of maintaining the upward momentum in the coming quarters too. It is indeed a matter of great pride for Team GRSE that the 1st Survey Vessel (Large), INS Sandhayak, the largest Survey Vessel of our nation, was commissioned on 03 Feb 2024 in the august presence of the Hon'ble Raksha Mantri and the Chief of the Naval Staff. Our focus continues on timely project execution, exports and new technology adaption with specific impetus on development of autonomous and Green Energy platforms".

PRESS RELEASE

GRSE Bags Best Strategic CPSE of India-Defence Award 2024

Kolkata, 10 Feb 2024: Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has been honoured with the "Best Strategic Central Public Sector Enterprise of India-Defence (Naval & Shipbuilding) Award" at the prestigious 6th INDIA Public Sector Enterprises (IPSE) Awards 2024 held in New Delhi. This accolade underscores GRSE's commitment to excellence and its significant contribution to the defence sector. The award also acknowledges GRSEss pivotal role in advancing the cause of "A Self-Reliant India" in Defence.

The 6th IPSE Awards 2024, instituted by "PSE Journal" in association with ENERTIA Foundation, aims to recognize the exemplary performance of India's Public Sector Enterprises (PSE) across various sectors, contributing significantly to the Nation's GDP. The awards also celebrate individual excellence in PSE leadership and honour states for their investment in PSEs.

PRESS RELEASE

GRSE's INS Sandhayak Joins Indian Navy Fleet After Commissioning

Kolkata, 03 Feb 2024: As the last beat of the National Anthem was played, the pennant went up on board INS Sandhayak, marking her ceremonial Commissioning into the Indian Navy. INS Sandhayak, the largest Survey ship to have ever been built in India, was commissioned into the Indian Navy at the Visakhapatnam dockyard on Saturday, February 3, 2024. The Chief Guest at the Commissioning ceremony was Hon'ble Raksha Mantri Shri Rajnath Singh. Also present at the occasion were Admiral R Hari Kumar, Chief of the Naval Staff, Indian Navy, Vice Admiral Rajesh Pendharkar, FOC-in-C, Eastern Naval Command, Cmde PR Hari, IN (Retd), Chairman and Managing Director, GRSE, and senior officials from the GRSE & Indian Navy.

INS Sandhayak is the first in a series of four Survey Vessels (Large) that GRSE was tasked to build. Despite severe challenges during the pandemic years, GRSE completed the ship and handed her over to the Navy in December 2023. INS Sandhayak is a reincarnation of another survey vessel of the same name that GRSE had built and delivered to the Navy in 1981. That ship was decommissioned in 2021 after 40 years in active service. The word 'Sandhayak' stands for someone who carries out a special search.

Hon'ble Raksha Mantri, Shri Rajnath Singh, mentioned that the commissioning of INS "Sandhayak" is a significant occasion in Indian maritime history. He emphasized that today's commissioning demonstrates the foresightedness of the Indian Navy and the untiring efforts of GRSE's workforce. Hon'ble Raksha Mantri also stated that the inclusion of INS 'Sandhayak' in the Indian Navy will undoubtedly contribute to maintaining peace and security, and it will play a crucial role in establishing India as a major power in the Indo-Pacific region.

Hon'ble Defence Minister drew parallels between the transformation of a dependent child into a responsible adult and the development of a nation into a self-reliant military power. "Just as in the case of a child, a country in its nascent stage of development has to rely upon others to meet her security needs. Gradually, as a nation develops, she builds her own capabilities to ensure security. The reliance on other countries comes down gradually. Finally, a country becomes powerful enough, not only to protect her own security interests but to ensure security for others in the region," he said in his address.

The Chief of the Naval Staff emphasized that the Navy is committed to be an Atmanirbhar force by 2047 and in this journey of a Vikshit Bharat, GRSE will remain a partner for the Navy as the shipyard has significantly grown over the years and has a strong background of building complex warship.

Cmde P R Hari stated that the ship was a reincarnation of the 1981 GRSE-built Sandhayak, the 1st Indigenous Survey Vessel. He shared that the construction of the ship was underway during the Covid pandemic and in spite of several challenges including the cascading effects of the supply chain, GRSE delivered the ship to the Indian Navy on "Navy Day" this year.

The event ended on a high note with both the Navy and GRSE reconfirming their partnership of over 60 years since India's first indigenously-built warship, the INS Ajay, was delivered by GRSE in 1961.

PRESS RELEASE

Signing of License Agreement between GRSE and Rolls-Royce to manufacture MTU S4000 Govt Marine Engines in India

Kolkata, 30 Jan 2024: Garden Reach Shipbuilders and Engineers Ltd (GRSE) and Rolls-Royce, have signed a Frame and Individual License Agreement on 30 Jan 24 to co-operate in the license production and localization of the MTU IMO Tier II compliant Series 4000 Marine Engines for governmental ships as a part of the 'Make in India' joint initiative. This collaborative effort has significant market potential in coming years for all Fast Patrol Vessels, Interceptor Boats and Fast Attack Craft projects of Indian Navy and the Indian Coast Guard.

Under this agreement, the engines will be manufactured at the Diesel Engine Plant of GRSE in Ranchi.

The License Agreement scope and Individual license rights shall cover following aspects considering the requirements of end customer:

• Assembly of Licensee-built Products, manufacturing, or procurement of Licensee-built Parts and/or Components, engine testing and finishing (including painting).
• Manufacturing or procurement of Licensee-built Parts and/or Components to produce Licensee-built Products in the Territory.
• Sale and After-Sales-Services of Licensee-built Products within India for the Application.

As a solution brand of Rolls-Royce's business unit Power Systems, MTU Series 4000 engines with a power output of 746-4300 KW, stand out with their high-power density and power-to-weight ratio, their compact design as well as their mechanical and thermal stability. On top of that, they are easy to use and maintain, with low lifecycle costs. This gives every naval vessel the right propulsion - from small patrol vessels to frigates and large submarines.

With this license agreement, Garden Reach Shipbuilders and Engineers and Rolls-Royce are continuing a long-standing partnership. GRSE has been involved in the line production, maintenance, repair and overhaul of MTU engines since the mid-1980s.

PRESS RELEASE

CMD PR Hari Sets GRSE's Course with 'Vikshit Bharat' Theme on 75th Republic Day

Kolkata, 27 Jan 2024: India's 75th Republic Day was celebrated with patriotism at Garden Reach Shipbuilders and Engineers (GRSE) Ltd at its Kolkata headquarters on Friday, January 26, 2024. The preceding 12 months have been marked by significant events for GRSE, witnessing the launch of numerous warships and the delivery of one to the Indian Navy. Consequently, the shipyard has made substantial contributions to nation-building and the Atmanirbharta (self-reliance) commitment. Additionally, GRSE recently celebrated a pivotal achievement with the launch of the Next Generation Ferry for the Government of West Bengal, a commendable step towards advancing green initiatives.

The celebrations began with Cmde PR Hari IN (Retd), Chairman and Managing Director, GRSE, unfurling the National Flag in the presence of Director (Finance), Shri RK Dash, Director (Shipbuilding), Cdr S Bose, Director (Personnel), DIG S Ghosh, CISF Commandant Shri P Kumar, senior officials from GRSE, officials from the Classification Societies, and industry partners. The CMD received the salute from the contingent of CISF personnel who also performed impressive rifle and pistol 'drills' that enthralled all present.

Cmde PR Hari, brought attention to the two themes for the Republic Day, 'Mother of Democracy' & 'Viksit Bharat.' Addressing the gathering, the CMD stated that he is confident that with the kind of world class infrastructure, the talent pool & a clear vision statement, the shipyard will grow exponentially to achieve the aspirational vision to become a Navratna Company.

In his speech, CMD, GRSE urged the employees to focus on Safety, Security, Quality, Timely Execution, & breaking the barriers of Departments and working as a team with a single goal of taking GRSE ahead.

The CMD congratulated the CISF team for their exemplary turn out and excellent and graceful display, including the cultural program.

PRESS RELEASE

GRSE LAUNCHES STATE'S FIRST NEXT-GENERATION ELECTRIC FERRY FOR THE GOVERNMENT OF WEST BENGAL

Kolkata, 11 Jan 2024: Garden Reach Shipbuilders and Engineers (GRSE) Ltd, launched a Next Generation (NG) Electric Ferry on Thursday, January 11, 2024. The vessel was launched in the traditional way by Mrs Lipi Das, General Manager (Human Resources), GRSE in the presence of Cmde PR Hari IN (Retd), Chairman and Managing Director, GRSE, Shri R K Dash, Director (Finance), Cdr Shantanu Bose IN (Retd), Director (Shipbuilding), DIG Subrato Ghosh, ICG (Retd.), Director (Personnel) and other senior officials of GRSE. This vessel being constructed for the Government of West Bengal holds the prospect of replacing diesel-engine run ferries with Green platforms that use only battery and solar power.

The launch of the NG Electric Ferry, named 'Dheu' (means 'wave') kickstarts several opportunities in zero emission transport contributing to growth of waterways of India in line with the Maritime India Vision-2030, which can complement road/rail-based cargo and passenger transport.

The 24-metre-long Next Generation Electric Ferry designed by GRSE will be powered by a 246 Kilowatt per hour (kWh) liquid-cooled Energy Storage Solution. It is ergonomically designed to carry 150 passengers in air-conditioned comfort and with no noise or engine vibrations. The Ferry will have twin screw propellers for greater maneuverability and a Catamaran Aluminum hull which will allow speeds up to 10 knots. It will have solar panels to augment the power supply. It is being built to comply with the latest classification society rules of Indian Register of Shipping (IRS) related to passenger safety. Once launched, the vessel shall undergo harbor and afloat trials and shall thereafter be delivered to the Govt of West Bengal.

Cmde PR Hari IN (Retd), Chairman and Managing Director, GRSE, said that Launch of this "Green Vessel" is a major accomplishment and when delivered, "Dheu" shall be a gamechanger that shall revolutionise the Inland Waterways transportation sector".

"New Technology adaption with specific thrust on autonomous and Green energy platforms has been a key focus area for GRSE, and the coming months shall see the development of more such new products" Cmde Hari said.