Kolkata: Garden Reach Shipbuilders & Engineers Limited (GRSE), continues to maintain an impressive financial growth trajectory and for FY 2024-25, has achieved the highest ever Annual Turnover in the history of the company to the tune of ₹4,750 crore (Provisional & Unaudited). The Company had also declared an interim dividend @ 89.5% of Paid-up Share Capital against 79% of previous year.
FY 2024-25 has been a remarkable year for GRSE, that saw the company attaining the prestigious Schedule ‘A’ status, in recognition of its operational excellence and strong financial performance.
Another major milestone was the commissioning of the 2nd Survey Vessel (Large), INS Nirdeshak, on December 18, 2024 in the august presence of Minister of State – Defence, Sanjay Seth. This marks the 110th warship delivered by GRSE to the Indian Navy, further reinforcing the company’s legacy of excellence in shipbuilding. Additionally, 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) of DRDO.
GRSE further strengthened its position in specialized vessel construction by securing key projects, including a ₹490 crore contract with the Naval Physical and Oceanographic Laboratory (NPOL) for an Acoustic Research Ship (ARS), an ₹840 crore contract with NCPOR for an Ocean Research Vessel and a contract with the Government of West Bengal for the construction of 13 Hybrid Ferries. Expanding its global footprint, the company also secured an international order for eight multi-purpose cargo vessels from a German company, valued at approximately USD 108 million.
GRSE signed several strategic MoUs in FY 2024-25, and these include agreements with the Indian Army for 130-foot Single Lane Modular Bridges in Arunachal Pradesh, PWD Nagaland for Modular Steel Bridges, and NHIDCL for the supply of Double Lane Modular Bridges.
Reaffirming its dedication to fostering innovation and supporting Indian startups, GRSE launched the second edition of the “GRSE Accelerated Innovation Nurturing Scheme (GAINS) – 2024”, aimed at leveraging the startup ecosystem to drive technological advancements and innovation.
An array of awards and accolades further reinforced GRSE’s commitment to excellence. The company was honoured with 24 prestigious awards for the year across various domains, including Artificial Intelligence, technology, CSR, corporate governance, communication outreach, and operational performance.
