Press Releases 2024-25 - Quarter 1

PRESS RELEASE

GRSE Wins 'AI Award' at the PSE Summit 2024

Kolkata, 26 Jun 2024: Garden Reach Shipbuilders & Engineers Ltd. (GRSE), bagged the 'Artificial Intelligence (AI) Award' at the Public Sector Enterprise (PSE) Summit organized by Express Computer, The Indian Express Group. The summit was held in Jaipur, and focused on "Digital Excellence in Public Sector Enterprise."

GRSE received this prestigious award for its innovative implementation of the 'I-weld Inspector' software, a cutting-edge solution for the examination of radiography films. This recognition underscores GRSE's commitment to leveraging advanced technologies to enhance operational efficiency and quality standards.

Cmde Rajiv Sreedharan, IN (Retd), CGM (PS-NGOPV, Innovation & New Technology), represented GRSE at the Summit and participated in a panel discussion on the topic "Harnessing the Power of Emerging Technologies for Public Service Innovation." During the discussion, Cmde Sreedharan shared his insights and perspectives on the shipyard's transformative potential of emerging technologies in the maritime domain.

The Express Computer PSE Summit & Awards 2024 were organised to recognize excellence and promote innovation, and encourage public sector enterprises to strive for greater achievements in digital transformation.

PRESS RELEASE

GRSE Wins Sustainable Governance Champion Award at Outlook Planet Sustainability Summit 2024

Kolkata, 24 Jun 2024: Garden Reach Shipbuilders & Engineers (GRSE) Ltd. has been honoured with the "Sustainable Governance Champion Award" at the Outlook Planet Sustainability Summit & Awards 2024.

This recognition highlights GRSE's unwavering commitment to sustainable practices and governance excellence. The Sustainable Governance Champion Award is a testament to GRSE's efforts in integrating sustainability into its core operations, driving innovation, and promoting environmental stewardship within the maritime and defense sectors. GRSE has continually strived to set new benchmarks in sustainable practices, incorporating advanced technologies and eco-friendly measures in its shipbuilding processes. The Outlook Planet Sustainability Summit & Awards is a prestigious platform that brings together industry leaders, policymakers, and sustainability advocates to celebrate and promote sustainable initiatives.

PRESS RELEASE

GRSE bags export order for commercial vessels

Kolkata, 22 Jun 2024: In a remarkable development that highlights its continuing efforts towards handling export orders, Garden Reach Shipbuilders and Engineers (GRSE) Ltd signed an agreement with Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG Germany on Saturday, June 22, 2024, for the construction and delivery of four (04) multi-purpose vessels of 7,500 DWT each, with an option of building another four (04) ships in near future.

The vessels will be 120 metres long and 17 metres wide with a maximum draft of 6.75 metres. Each of them can carry 7,500 metric tonnes of cargo. The vessels will have a single cargo hold each to accommodate bulk, general and project cargoes. Containers will be carried on hatch covers. The ships have been specifically designed to carry multiple large windmill blades on deck.

The agreement was signed between GRSE and Carsten Rehder Schiffsmakler and Reederei GmbH & Co., represented by Cdr Shantanu Bose, IN (Retd), Director (Shipbuilding) and Mr Carsten Thomas Rehder, Managing Director respectively in the august presence of Cmde PR Hari, IN (Retd.), Chairman & Managing Director, GRSE. Among the senior officials, Shri RK Dash, Director (Finance), GRSE, DIG Subrato Ghosh, ICG (Retd), Director (Personnel), GRSE, Mr Jonas Meinhardt, Managing Director of M/s Carsten Rehder were present.

GRSE has been a pioneer in the export of warships. In 2014, the CGS Barracuda, an Offshore Patrol Vessel, built by GRSE, was exported to Mauritius. This was the first warship to be exported by India. In 2021, the GRSE-built Fast Patrol Vessel PS Zoroaster was exported to the Seychelles. The ship returned to GRSE earlier this year for a refit that was completed in record time. The shipyard is also currently working on six patrol boats and a TSH dredger for the Government of Bangladesh. In 2023, GRSE delivered the MV Ma Lisha, a passenger-cum-cargo ocean-going ferry to the Cooperative Republic of Guyana. It is the largest and most advanced ferry in that country now.

PRESS RELEASE

GRSE Celebrates 10th International Yoga Day with Enthusiastic Participation from Employees

Kolkata, 21 Jun 2024: Garden Reach Shipbuilders & Engineers Ltd. (GRSE), celebrated the 10th International Yoga Day with a series of engaging activities aimed at promoting health and wellness among its employees.

As part of the Yoga Day celebrations, GRSE organized a Yoga Competition for its employees and an online Crossword competition through its social media platforms on 20 Jun 24. E Countdown posts and announcements were run internally & on social media to encourage participation. The competitions saw enthusiastic engagement from employees across various departments, showcasing their dedication to physical and mental well-being & from citizens at large. The Yoga Competition culminated with collective display of different Yoga Asanas by employees and a prize distribution ceremony on June 21, 2024. On the occasion, winners were felicitated for their exceptional performances, in the presence of Cmde PR Hari, IN (Retd.) Chairman & Managing Director, 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.

GRSE also actively engaged and encouraged its employees towards various Yoga initiatives undertaken by Ministry of Defence & Ministry of Ayush. These initiatives include registering for Yoga training sessions organised by the Morarji Desai National Institute of Yoga, participating in various International Day of Yoga (IDY) activities hosted on the MyGov and MyBharat portals and uploading the IDY activities on 'Bhuvan App' developed by ISRO. All the above initiatives were communicated online to internal and external stakeholders through email communication and social media posts.

Through these initiatives, GRSE aims to inspire its workforce to integrate yoga into their daily routines, thereby enhancing overall productivity and fostering a balanced lifestyle.

PRESS RELEASE

GRSE Achieves New Export Milestone in 2024: Signs $16.6 Million Contract to Supply an Advanced Dredger to Bangladesh

Kolkata, 07 Jun 2024: Garden Reach Shipbuilders & Engineers Ltd. signed a significant contract with the Bangladesh Inland Waterways Transport Authority (BIWTA), to build a Trailing Suction Hopper Dredger for Government of Bangladesh. The contract, valued at $16.6 million, was signed on 02 June 2024, in Dhaka, Bangladesh in the presence of Director (Shipbuilding), GRSE, Cdr. Shantanu Bose, IN (Retd.), representatives from BIWTA, and senior officials from both GRSE and BIWTA. This agreement marks another milestone in GRSE's ongoing commitment to fostering international cooperation and delivering high-quality maritime solutions.

Under this contract, GRSE will supply a state-of-the-art Trailing Suction Hopper Dredger (TSHD) with a hopper capacity of 1000 cubic meters. The 58.70 M long TSHD with a speed of 10 knots will feature Azimuth Thruster propulsion, ensuring superior performance and maneuverability. With its ability to operate in Sea State 2 and navigate through Sea State 4, the vessel shall guarantee resilience and adaptability in diverse marine conditions.

GRSE's consistent success in International Markets is a testament to its expertise and reliability in shipbuilding and related services. The shipyard is currently executing an order to build 06 Patrol Boats for the Sustainable Coastal and Marine Fisheries Project under the Department of Fisheries, Government of Bangladesh. The company has previously delivered various vessels to friendly foreign countries, including Mauritius, Seychelles, and Guyana, and has been a trusted exporter of prefabricated steel bridges to countries like Nepal, Bhutan, Myanmar, and Sri Lanka.

With modernized infrastructure and the adoption of advanced technologies, GRSE is well-equipped to meet the global demand for sophisticated maritime vessels and support the 'Atmanirbhar' (self-reliant) initiative by achieving high levels of indigenous content in its ships. This contract with BIWTA underscores GRSE's strategic focus on expanding its footprint in international markets and its dedication to contributing to the maritime strength and economic development of friendly nations.

PRESS RELEASE

Ahead of the Curve: GRSE-built SCG PS Zoroaster Refit for Seychelles Completed a remarkable 30 Days Ahead of Schedule!

Kolkata, 29 May 2024: Demonstrating exceptional competency and commitment, Garden Reach Shipbuilders & Engineers Ltd. (GRSE) has successfully completed the ninety-day maiden short refit of the Seychelles Coast Guard Patrol Ship Zoroaster a remarkable 30 days ahead of schedule on 24 May 2024. The SCG PS 'Zoroaster', is from the line of Fast Patrol Vessels built by GRSE and with proven performance with the Indian Coast Guard, was handed over to the Seychelles Coast Guard on 08 Apr 21. SCGS Zoroaster set sail from GRSE's Rajabagan Dockyard, Ganga Jetty on 29 May 24, returning to the fleet of the archipelagic Island Country of Seychelles under the command of Captain Lyndon Lablache.

Commencing its refit journey on 22 March 24, this ambitious project was in line with India's Vision "SAGAR" (Security And Growth for All in the Region). Undertaking such a refit for a foreign nation was a unique endeavour for GRSE, further strengthening the collaborative efforts of India and Seychelles in enhancing regional stability and security. Through meticulous planning and an advanced execution strategy, the Ship Repair team of GRSE successfully compressed the refit schedule to one month, showcasing their outstanding efficiency and commitment.

The Indian Navy's work-up team conducted a thorough post-refit inspection to ensure the highest standards of operational readiness and capabilities. The river trials of the ship's machineries were successfully completed on 24 May 2024.

The successful completion of this short refit project not only highlights GRSE's expertise but also underscores the strong camaraderie between the ship's crew and the GRSE team. This collaboration has fostered a spirit of true friendship and cooperation, leaving behind long-lasting memories and strengthening the bond between the two nations.

PRESS RELEASE

Performance Review of Q4 & FY24

GRSE Records Highest Ever Profit After Tax and Revenue from Operations During FY 24

Kolkata, 22 May 2024: Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country has announced its financial results for the last quarter and full year ended March 31st, 2024.

Q4 FY24 Compared with Q4 FY23:

• Revenue from operation is Rs. 1,016 Crore in Q4 FY24 as against Rs. 601 Crore of previous year registering a growth of 69 %.
• The Company's EBITDA stood at Rs. 166 Crore in Q4 FY24 against Rs. 90 Crore of previous year registering a growth of 84 %.
• Profit Before Tax (PBT) stood at Rs. 153 Crore in Q4 FY24 against Rs. 76 Crore of previous year registering a growth of 101 %.
• Profit After Tax (PAT) stood at Rs. 112 Crore in Q4 FY24 against Rs. 55 Crore of previous year registering a growth of 104 %.

Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, "Happy to report a strong set of numbers, with both our Revenue from Operations and Profit after Tax reaching new heights. Backed by a strong order book and with our ongoing projects at a maximum revenue recognition phase, and also with more orders on the anvil, we are confident of sustained growth in the coming years too. Our focus continues to be on timely execution of ongoing projects and new technology adoption with specific impetus on development of autonomous and green energy platforms."

PRESS RELEASE

GRSE Lays Keel of the last in series (Yard 3034) of 08 ASWSWCs

Kolkata, 10 May 2024: Garden Reach Shipbuilders and Engineers Ltd., (GRSE), Kolkata, in an impressive ceremony, at their Raja Bagan Dockyard Unit, laid the keel of the last in the series (Yard 3034) of 08 Anti-Submarine Warfare Shallow Watercrafts. The Keel Laying was performed in the august presence of Vice Admiral B Sivakumar, AVSM, VSM, Controller Warship Production and Acquisition. The occasion was graced by Cmde PR Hari, IN (Retd.), Chairman & Managing Director, GRSE, Shri RK Dash, Director (Finance), GRSE, CD Shantanu Bose, IN(Retd.), Director (Shipbuilding), GRSE, DIG Subrato Ghosh, ICG (Retd.), Director (Personnel), GRSE, Shri Abhishek Ranjan, IOFS, Chief Vigilance Officer, GRSE, along with other Senior Officers from Indian Navy & GRSE.

Yard 3034 is the eighth and the last ship in the series of eight ASWSWC being built by GRSE for the Indian Navy. These ships are 77.6 meters long and 10.5 meters wide and require a draught of only 2.7 meters. Propelled by three diesel driven water jets, these ships can attain a maximum speed of 25 knots.

The primary role of the ASWSWC is to conduct anti-submarine operations in coastal waters, Low Intensity Maritime Operations (LIMO) and mine laying operations. These ships are also capable of full-scale subsurface surveillance of coastal waters and various surface platforms and coordinated ASW operations with aircraft.

These ships may be smaller in size but will pack a lethal punch. They will carry lightweight torpedoes, ASW rockets and mines, close in weapon system (30 mm Naval Surface Gun), and 16.7 mm stabilized remote controlled guns. The ASWSWC will be fitted with hull mounted sonar and a low frequency variable depth sonar.

PRESS RELEASE

GRSE CELEBRATES 65TH RAISING DAY

Kolkata, 22 Apr 2024: Garden Reach Shipbuilders & Engineers Ltd. (GRSE) celebrated its 65th Raising Day, with fervour and excitement.The event witnessed enthusiastic participation from employees across all departments of GRSE, in the presence of Cmde PR Hari, IN (Retd.), Chairman & Managing Director, GRSE, Shri RK Dash, Director (Finance), GRSE, Cdr Shantanu Bose, IN(Retd.), Director (Shipbuilding), DIG Subrato Ghosh, ICG(Retd.), Director (Personnel), GRSE, Shri Abhishek Ranjan, IOFS, CVO, GRSE, and other senior officials of GRSE.

During the event, Cmde PR Hari, CMD, GRSE, unveiled 'GRSE Varta 2024', the annual in-house journal of the shipyard. Merit awards were presented to employees' children, and employees were recognized for their outstanding performance across various categories. Cultural activities performed by employees added to the festive atmosphere of the occasion.