GRSE achieves a record annual turnover of Rs 4,750 crore in FY 2024-25

New Delhi: Garden Reach Shipbuilders & Engineers Limited (GRSE) has recorded its highest-ever annual turnover of Rs 4,750 crore (provisional and unaudited) in FY 2024-25. The company also declared an interim dividend of 89.5 percent of the paid-up share capital, an increase from the 79 percent dividend declared in the previous year.

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FY 2024-25 proved to be a landmark year for GRSE, as the company attained the prestigious Schedule 'A' status, a testament to its operational excellence and strong financial standing. Additionally, the company achieved a key milestone with the commissioning of the second Survey Vessel (Large), INS Nirdeshak, on December 18, 2024. The event was graced by the Raksha Rajya Mantri Sanjay Seth. This delivery marked the 110th warship built by GRSE for the Indian Navy, further solidifying its legacy as a premier warship manufacturer.

Apart from its contributions to the defence sector, GRSE delivered the Next Generation Electric Ferry 'Dheu' to the Government of West Bengal and an Unmanned Surface Vessel (USV) 'Jaldoot' to the Naval Science & Technological Laboratory (NSTL) under the Defence Research and Development Organisation (DRDO), further demonstrating its capabilities in specialized vessel construction.

The company also secured several key projects in FY 2024-25, enhancing its order book. These include a Rs 490 crore contract with the Naval Physical and Oceanographic Laboratory (NPOL) for an Acoustic Research Ship (ARS), an Rs 840 crore contract with the National Centre for Polar and Ocean Research (NCPOR) for an Ocean Research Vessel, and a contract with the Government of West Bengal for the construction of 13 Hybrid Ferries. Expanding its international footprint, GRSE secured an overseas order valued at approximately $108 million for the construction of eight multi-purpose cargo vessels for a German company.

In addition to vessel construction, GRSE strengthened its collaboration with key stakeholders by signing multiple strategic Memorandums of Understanding (MoUs). These include agreements with the Indian Army for 130-foot Single Lane Modular Bridges in Arunachal Pradesh, the Public Works Department (PWD) of Nagaland for Modular Steel Bridges, and the National Highways and Infrastructure Development Corporation Limited (NHIDCL) for the supply of Double Lane Modular Bridges.

Reaffirming its commitment to innovation, GRSE launched the second edition of the "GRSE Accelerated Innovation Nurturing Scheme (GAINS) - 2024" to foster technological advancements by engaging with Indian startups.

The company's outstanding performance in various domains was recognized through 24 prestigious awards during the year. GRSE was honored for its achievements in artificial intelligence, technology, corporate social responsibility (CSR), corporate governance, communication outreach, and operational excellence.

With its continued focus on innovation, strategic expansion, and operational excellence, GRSE remains a key player in India's defence and maritime sectors, contributing significantly to the nation's shipbuilding capabilities and infrastructure development.

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