Defense company GRSE builds 7 ships for foreign countries
- According to him, a listed company, GRSE, recorded a record quarterly total revenue of Rs 621 crore during the April-June period of 2022-23, an increase of 81% over the corresponding months of the financial year. previous.
- Profit after tax was Rs 50 crore in the quarter ended 30 June 2022, compared to Rs 21 crore the previous year, representing an increase of 138%,
Defense Commodore (Retired) PR Hari, Chairman and Managing Director of PSU Garden Reach Shipbuilders and Engineers Ltd, revealed that seven of the 23 ships in various stages of development are destined for overseas countries.
GRSE, which received the prestigious Rs 19,294 crore order to build three advanced stealth frigates for the Indian Navy under Project 17A, has already launched two such vessels, and the construction of the third is underway.
“Seven out of the 23 ships developed by GRSE are destined for foreign countries,” Hari told PTI.
According to him, the Calcutta-based warship builder is building six patrol boats for Bangladesh and an ocean-going passenger and cargo ferry for the Cooperative Republic of Guyana.
After the launch of the advanced P17A frigate INS Himgiri and the huge survey vessel INS Sandhayak, GRSE is preparing these vessels in its FOJ (jetty development) unit before handing them over to the Indian Navy, according to Hari.
Defense Minister Rajnath Singh unveiled the shipyard’s second stealth frigate, Dunagiri, on July 15.
Four large survey vessels, which Sandhayak crews, are among the vessels under construction at its vast facilities on the bank of the Hooghly River.
“GRSE is also building eight anti-submarine warfare craft for the navy,” Hari added.
Apart from the refit of ICGS Sujay, the public sector company is building a fast patrol vessel for the Indian Coast Guard.
GRSE has signed an agreement with the West Bengal government to build a next-generation electric ferry as part of its efforts to incorporate green technology into shipbuilding, according to Hari.
“Once delivered, I believe this vessel will be a game-changer for river transport in India and will also have good export potential,” he said.
According to the official, the shipbuilder, which derives about 95 percent of its revenue from the production of warships, also produces deck machinery, pre-engineered movable steel bridges and marine pumps.
GRSE, which has supplied 107 warships to date, with the first INS Ajay being India’s first locally manufactured warship in 1961, has been a profitable business for 28 years, he claims.
After extensive modernization, the shipyard can now produce 20 ships at the same time, eight large and 12 small, according to the official.
According to him, a listed company, GRSE, recorded a record quarterly total revenue of Rs 621 crore during the April-June period of 2022-23, an increase of 81% over the corresponding months of the financial year. previous.
Profit after tax was Rs 50 crore in the quarter ended 30 June 2022, compared to Rs 21 crore the previous year, representing an increase of 138%,