GRSE eyeing Navratna status in 2-3 years

[Hindustani78]

By PTI | 21 Jul, 2015, 10.36AM IST
GRSE eyeing Navratna status in 2-3 years - The Economic Times

KOLKATA: Flush with orders from the Navy, defence PSU Garden Reach Shipbuilders and Engineers Ltd (GRSE) is eyeing the elite 'Navratna' status in the next 2-3 years.

"We have sought the status of schedule A category of public sector unit. We'll get it may be within a year or so. And after that we'll apply for getting upgraded to Navratna status. Given our growth and potential market, we are hoping that after another two years we'll get the status," GRSE's Chairman and Managing Director
Rear Admiral A K Verma said.

Among the leading shipyards of the country, the Kolkata-based company was awarded 'Mini Ratna - Category 1' status in 2006.

During the year 2014-15, GRSE has achieved the highest ever turnover of Rs 1,665 crore (provisional figures).

"In the next year we are targeting a Rs 2,000 crore turn over and in the next five years the figure should touch Rs 3,000 crore," Verma said adding that the company had seen a growth rate of over 300 per cent in its business in the last few years following the success of its major modernisation programme.

Under project P-17A, the shipyard had recently bagged its biggest order of building three advanced stealth frigates for Rs 20,000 crore from the Indian Navy.

In the last financial year, GRSE also became the first Indian shipyard to export a warship. Offshore patrol vessel 'CGS Barracuda' was delivered to Mauritius last December.

On the export front, it was getting lot of enquiries including from Philippines Navy and Bangladesh Navy to build warships.

Under its modernisation initiative, GRSE was revamping old workshops and Fitting Out Jetty unit at an estimated cost of Rs 40-50 crore, officials said.

 

[Hindustani78]

Ministry of Defence
16-November, 2016 13:52 IST
GRSE, Kolkata Pays Record Dividend to the Government for the 23rd Consecutive Year

A cheque for Rs 53.22 crore towards dividend for the financial year 2015-16 was handed over to Defence Minister Shri Manohar Parrikar by Chairman & Managing Director, Garden Reach Shipbuilders & Engineers (GRSE) Ltd., Kolkata Rear Admiral (Retd) AK Verma for the 23rd consecutive year, here today.

GRSE, Kolkata, a Mini Ratna Defence PSU has been a profit making PSU and regularly paying dividend to the government exchequer continuously since 1993-94.

During 2015-16 fiscal, GRSE has registered an all-time high turnover of Rs 1707 crore as against Rs. 1612 crore in the previous year. The turnover of the company, which was Rs. 574 crore in 2007-08, has almost trebled to Rs.1707 crore in 2015-16. GRSE has also earned its highest ever PBT of Rs. 247 crore as against Rs. 76 crore in the previous year and net profit of Rs. 161 crore as compared to Rs. 43 crore in the previous year. The net worth of GRSE has increased to Rs. 1064 crore from Rs. 968 crore in the previous year.

GRSE’s journey towards nationbuilding & self-reliance continues with delivery of first two anti-submarine warfare corvettes INS ‘Kamorta’ and INS ‘Kadmatt’ to the Indian Navy with 90 percent indigenous content and GRSE has also done the nation proud by building the first ever export warship CGS ‘Barracuda’ for the Republic of Mauritius.

GRSE has so far delivered 98 warships to the Armed Forces and with two more ships almost ready for delivery, the Shipyard is poised to become the first shipyard in the country to build 100 warships.

Based on overall performance, GRSE has been adjudged as the ‘Best Performing Defence Shipyard’ four years in a row.

Secretary (Defence Production) Shri Ashok Kumar Gupta and other senior GRSE officials were present on the occasion.

The Union Minister for Defence, Shri Manohar Parrikar receiving a dividend cheque of Rs.53,22,05,350 from the CMD, Garden Reach Shipbuilders & Engineers Ltd (GRSE), Kolkata, Rear Admiral (Retd.) A.K. Verma, in New Delhi on November 16, 2016. The Secretary (Defence Production), Shri Ashok Kumar Gupta is also seen.

 

[SR-91]

GRSE has a bright future ahead of them, if they keep doing what they have been doing.

 

[Hindustani78]

Ministry of Defence
30-October, 2018 17:43 IST
MOD signs contract with GRSE for supply of four survey vessels for Indian Navy

Ministry of Defence has awarded contract for design, construction and supply of four Survey Vessels for Indian Navy to Garden Reach Shipbuilders & Engineers (GRSE) Limited, Kolkata after it became successful bidder in the competitive bidding. The contract was signed between Ministry of Defence and GRSE here today.

The contract was signed by Joint Secretary & Acquisition Manager (MS) Shri Ravi Kant on behalf of the Ministry and Director(Shipbuilding)Cmde S Nayyar IN (Retd) for GRSE, Kolkata. Request for Proposal was issued by Indian Navy to four PSU shipyards viz. GRSE, Goa Shipyard Limited (GSL), Hindustan Shipyard Limited (HSL), Cochin Shipyard Limited (CSL) and two Indian Private Shipyards in April 2016, with GRSE emerging as the lowest & successful bidder. The order value for these four vessels is Rs. 2435.15 crore. The first ship is to be delivered within 36 months and remaining within an interval of six months for each vessel. The project completion time is 54 months from date of signing the contract. With this prestigious contract, GRSE’s Order Book as on date stands at Rs. 22,604 crore. The GRSE is currently handling a major project to make three Stealth Frigates for Indian Navy under P17A Project.

The defence PSU has been a pioneer warship builder of the nation having delivered the highest number of warships till date since its inception in 1960. The 98 warships built by GRSE so far range from Advanced Frigates to Anti-Submarine Warfare Corvettes to Fleet Tankers, Fast Attack Crafts, etc. with the Shipyard having many firsts to its credit in terms of Innovation and Design. It has already delivered six Sandhayak Class Survey Vessels to Indian Navy between the period February 1981 to February 1993. The present project will further consolidate GRSE’s position as a unique shipyard with all round capability to design and build Survey Vessels with state-of-the-art technology.

These Survey Vessels (Large) shall be 110 metre long with deep displacement of 3,300 tonnes and complement of 231, capable of fullscale coastal and deep-water hydrographic survey of ports and harbours, approaches and determination of navigational channels/routes. In addition, the vessels shall undertake surveys of maritime limits up to EEZ/extended continental shelf. These shall be deployed for collection of oceanographic and geophysical data for defence applications. In their secondary role, these shall be capable of performing limited search & rescue, limited ocean research and operate as hospital ship/casualty holding ships.

The vessels are equipped with highly advanced state-of-the-art hydrographic equipment & sensors including a Hello Hanger to accommodate one Advanced Light Helicopter.

The design and construction of these ships by GRSE will truly signify ‘Make in India’ initiative of the Government.

Vessels will be built as per Classification Society Rules and Naval Ship Regulations and will conform to latest MARPOL (Marine Pollution) Standards of the International Maritime Organisation (IMO).

AA/Nampi/DK/Rajib

Joint Secretary & Acquisition Manager (MS) Shri Ravi Kant along with Director (Shipbuilding)CmdeS Nayyar IN (Retd) during signing of contract between Ministry of Defence and Garden Reach Shipbuilders & Engineers Ltd (GRSE), Kolkata for supply of four survey vessels for Indian Navy on Tuesday, October 30, 2018. Also seen in the picture (extreme right) Cmde (ND)-SVL, Cmde V Thapar.

Joint Secretary & Acquisition Manager (MS) Shri Ravi Kant along with Director (Shipbuilding) CmdeS Nayyar IN (Retd) during signing of contract between Ministry of Defence and Garden Reach Shipbuilders & Engineers Ltd (GRSE), Kolkata for supply of four survey vessels for Indian Navy on Tuesday, October 30, 2018.