Niranjan Bhalerao takes charge as Director (Finance) at GRSE

Niranjan Bhalerao has taken over charge as Director (Finance) of GRSE with effect from October 7

Published on:

07 Oct 2025, 1:33 pm

New Delhi: Garden Reach Shipbuilders & Engineers Limited (GRSE) has announced the appointment of Niranjan Bhalerao as Director (Finance) of the company, effective October 6. Prior to this, he was serving as Executive Director (Finance) Indian Oil Corporation Limited (IOCL).

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A Fellow Member of the Institute of Chartered Accountants of India (ICAI) and a Commerce graduate from Pune, Bhalerao brings with him nearly three decades of rich and diverse experience in financial management across the oil and gas sector.

He began his professional journey in 1996 with Indian Oil Corporation Limited (IOCL), a Maharatna PSU, where he handled key functions across Refineries, Pipelines, and the Corporate Office. Over the years, he has gained extensive exposure to management accounting, banking, taxation, internal audit, corporate affairs, shipping, contracts, city gas distribution, and joint venture operations.

During his tenure at IOCL, Bhalerao also served as Nominee Director on the Board of Kochi Salem Pipeline Private Limited, a joint venture between Bharat Petroleum Corporation Limited (BPCL) and IOCL, contributing to several strategic and policy-level decisions impacting financial performance and corporate governance.

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"With his extensive background in corporate finance, taxation, and strategic planning, Bhalerao is expected to further strengthen GRSE’s financial management framework and support the company’s long-term growth objectives," the defence Miniratna said in an official statement.

Garden Reach Shipbuilders & Engineers Limited (GRSE), headquartered in Kolkata, is one of India’s premier defence shipyards, known for its contribution to strengthening the nation’s maritime capabilities through the design and construction of sophisticated naval vessels.

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