State-owned Garden Reach Shipbuilders & Engineers Ltd (GRSE) has announced the signing of a contract for the construction and delivery of the second 7,500 Deadweight Tonnage (DWT) Multi-Purpose Vessel (MPV) in a series of four. The contract was formalized on December 4, 2024, in Hamburg, Germany.
This follows GRSE’s earlier announcement in September 2024 regarding the order for four additional MPVs, each with a capacity of 7,500 DWT. The financial terms of the contract remain unchanged, and the company will disclose details of the remaining two contracts once they are signed.
For the July-September quarter, GRSE reported a net profit of ₹97.8 crore, marking a 21.2% increase from the previous year. The company also achieved a revenue of ₹1,152.9 crore, reflecting a 28.4% year-on-year growth. EBITDA for the quarter rose by nearly 41%, reaching ₹68.7 crore, with an expanded EBITDA margin of 6% from 5.4% in the same period last year.
Garden Reach Shipbuilders & Engineers Ltd (GRSE) is a leading public sector undertaking in India, specializing in shipbuilding and engineering services. Based in Kolkata, West Bengal, the company is renowned for its expertise in the design and construction of a wide range of vessels, including warships, multi-purpose ships, and specialized boats.
GRSE has played a crucial role in supporting India’s defense and maritime sectors, with a rich legacy of delivering advanced, high-quality ships to both the Indian Navy and other global clients. Additionally, the company is involved in the manufacturing of marine equipment, providing engineering solutions, and contributing to national defense and security. Over the years, GRSE has continued to innovate in shipbuilding technologies, enhancing its production capabilities and focusing on sustainable, cost-effective solutions.
