GRSE has been consistent in paying dividend to shareholders: CMD

Kolkata: "Team GRSE is set to emerge strong amidst the uncertainties created by the global pandemic," said GRSE CMD Rear Admiral VK Saxena (Retd) appreciating the hard work and dedication of all the employees in taking the Defence PSU on its path of success. He was speaking at the 105th Annual General Meeting (AGM) of the company that was held on Friday through VC/OAVM. The CMD said that GRSE has a strong order book which stands approximately at Rs. 25,707 crores as of 31 March 21 having 17 warships across 6 projects under execution currently.

"GRSE has been consistent in paying a dividend to the Shareholders and has done so every year for the last 27 years", he added while thanking the investors for their faith, commitment & confidence in the Shipyard. The unstinted support from the Ministry of Defence, Indian Navy, Indian Coast Guard, Central and State Government Authorities has helped GRSE achieve its goals, he said.

"To maintain its competitive edge in digitization, the company is shifting to smart manufacturing (Industry 4.0), through thrust on innovations in automation, robotics and the industrial internet of things", Saxena said. "GRSE is also introducing Artificial Intelligence, Machine Learning, Interoperability and secured connectivity enabling real-time monitoring", he added.

The Shipyard is currently executing six shipbuilding projects including three Advanced Frigates under Project 17A, four Survey Vessels (Large) & eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy and one Fast Patrol Vessel for the Indian Coast Guard, apart from the export ships for Republic of Guyana and Government of Bangladesh.

Modernization of infrastructure has enhanced the capacity across Shipyard's three shipbuilding locations with the construction of 20 ships concurrently. Commissioning of the 250 Ton Goliath Crane was another milestone achieved and a first of its kind. Apart from shipbuilding & ship repair, GRSE has diversified into Engineering Business with a product profile of Pre-fabricated Steel Bridges, various Deck Machinery Items such as Anchor Capstans, Boat Davits, Pumps etc & Assembly/ Testing/ Overhauling of MTU Diesel Engines.

"With its emphasis on export and realigning marketing strategies to match with the dynamic global environment, GRSE has pioneered its core objective of defence preparedness and continued its thrust on exports under the vision "Security And Growth for All in the Region (SAGAR)" adopted by Government of India", GRSE said in an official statement. "The company has achieved the distinction of inducting 90% indigenous contents onboard warships for Indian Navy such as Anti-Submarine Warfare Corvettes, Landing Craft Utilities under Make in India initiative. Despite the challenges posed by the 1st & 2nd wave of covid-19, GRSE launched the 1st Ship of the Prestigious P17A Advanced Frigate "Himgiri" way ahead of its schedule and delivered one warship to Indian Coast Guard just two days after the first phase of lockdown restrictions were over", it added.

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