New Delhi: Garden Reach Shipbuilders and Engineers Limited (GRSE), a shipbuilding PSU under the Ministry of Defence, has received the second positive award at 16th National Award for "Excellence in Cost Management." The award was given in the 'medium public sector manufacturing companies' category on October 25.
The award was received by GRSE's Director (Finance) SS Dogra along with GRSE's Deputy General Manager (Finance) Somnath Sarkar on behalf of GRSE. During the award function Minister of State for Finance and Corporate Affairs, Anurag Singh Thakur was present as the Chief Guest and Secretary Govt of India, Subhash Chandra Garg was present as the guest of honour. Excellence in Cost Management Awards are instituted by the Institute of Cost Accountant, Kolkata and are given in recognition of excellent work done by different companies both in the public sector and private sector.
Garden Reach Shipbuilders & Engineers Limited (GRSE) is one of India's leading shipyards, located in Kolkata, West Bengal. The company builds and repairs commercial and naval vessels. Of late GRSE has also started building export ships in a mission to expand its business. Founded in 1884 as a small privately-owned company on the eastern bank of the Hooghly River, it was renamed as Garden Reach Workshop in 1916. The company was nationalised by the government. It was awarded the Miniratna status, with accompanying financial and operational autonomy in September 2006. It is the first Indian shipyard to build 100 warships.