- According to him, a listed business, GRSE, has posted a record quarterly total income of Rs 621 crore in the April-June period of 2.022-23, an increase of 81% over the corresponding months in the previous fiscal year
- Profit after tax was Rs 50 crore in the quarter ended June 30, 2022, up from Rs 21 crore the previous year, representing a 138% increase,
Defence Commodore (retd) P R 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 for foreign countries.
GRSE, which received the prestigious Rs 19,294-crore order for the construction of three advanced stealth frigates for the Indian Navy under Project 17A, has already launched two of these ships, and construction on the third is underway.
“Seven of the 23 ships developed by GRSE are for foreign countries,” Hari told PTI.
According to him, the Kolkata-based warship manufacturer is building six patrol boats for Bangladesh and an ocean-going passenger and cargo ferry vessel for the Cooperative Republic of Guyana.
Following the launch of the P17A advanced frigate INS Himgiri and the huge survey vessel INS Sandhayak, GRSE is preparing these ships at its FOJ (fitting out jetty) unit before turning them over to the Indian Navy, according to Hari.
Defence Minister Rajnath Singh unveiled the shipyard’s second stealth frigate, Dunagiri, on July 15.
Four big survey vessels, which Sandhayak is outfitting, are among the ships under construction at its expansive facilities on the Hooghly river’s bank.
“GRSE is also building eight anti-submarine warfare watercraft for the Navy,” Hari added.
In addition to refitting the ICGS Sujay, the public sector venture is building a rapid patrol vessel for the Indian Coast Guard.
GRSE has inked a deal 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 would be a game changer for inland water transport in India and will also have good export potential,” he said.
According to the official, the shipbuilder, which generates roughly 95% of its revenue from warship production, also produces deck machinery, pre-fabricated movable steel bridges, and marine pumps.
GRSE, which has supplied 107 warships to date, with the first INS Ajay being India’s first indigenously-made warship in 1961, has been a profitable enterprise for the last 28 years, he claims.
Following extensive modernization, the shipyard can now produce 20 ships at the same time, eight large and 12 tiny, according to the official.
According to him, a listed business, GRSE, has posted a record quarterly total income of Rs 621 crore in the April-June period of 2.022-23, an increase of 81% over the corresponding months in the previous fiscal year
Profit after tax was Rs 50 crore in the quarter ended June 30, 2022, up from Rs 21 crore the previous year, representing a 138% increase,