Garden Reach Shipbuilders & Engineers

“The first revenue recognition will commence next year, that is the Financial Year 2028.”

“So, the current quarter’s performance will be able to replicate in the coming quarters too.”

“we have taken two more premises on a long-term lease basis from Syama Prasad Mookerjee Port, and the expansion and revitalization project for these two facilities have already commenced.”

“we are setting up a shipyard in West Bengal, Raichak, which is closer to the sea, and we expect the necessary approvals to be accorded during the current calendar year, and we will commence the infrastructure build up from 2027.”

“This will be a total ship solution facility, as I mentioned during my opening remarks, comprised of shipbuilding, green ship recycling, and ship repair capability under a single roof.”

“So, there we have difficulty at this moment, and that is the intent of creating these facilities. One, to circumvent the riverine constraints, and second, to obviate the length and displacement restrictions.”

“we expect this to be increased to concurrent construction of 32 platforms by the end of the calendar year, and we feel this capacity would be inadequate to meet the huge demand that exists both in the defense and non-defense segments.”

“GRSE has also received a notification award for two projects, one from the Oil and Natural Gas Corporation (ONGC) for construction of four Platform Support Vessels (PSV) and from the Syama Prasad Mookerjee Port, Kolkata for a fully electric tug.”

“Our current order book stands at ₹13,596 crore and this comprises mostly of shipbuilding orders with shipbuilding divisions contributing to ₹13,296 crore”

“it is for the first time in the last 10 years that our order book has dropped below ₹15,000 crore and I consider it the reflection of an excellent execution rate.”

“The current order book comprises 11 projects consisting of 44 marine platforms.”

“The third and fourth ship would be launched during the third and 4th Quarter of the current financial year. These ships shall be delivered commencing Q2 FY28, the first ship and the last ship to be delivered during Q2 FY29.”

“right now, we are not taking any export order considering that there are huge opportunities available within India.”

“Second is here in Kolkata, where our core shipbuilding facilities exist, we will be focusing, utilizing them, focused towards defense shipbuilding, and the facility in Gujarat, while we will use spare capacity there for warship building, the primary focus will be for green ship recycling and building of large size ships.”

“Firstly, for exports of non-defense platforms, we do not need any government approval if the item is getting, if the product is getting supplied to a friendly foreign nation. Now, defense exports mostly are through G2G types and so, we rely on our government for defense exports.”

“Having said that, if an attractive, profitable and visible order opportunity comes from Europe or any of the other customers, we will take it up.”

“Because our ferry that we have provided to the government of West Bengal is the largest and the fastest fully electric ferry in the country.”

“So, in a nutshell, if you are taking the defense sector alone, about ₹1,50,000 crores worth orders are expected in the near future.”

“Nearly ₹70,000 crore RFPs are expected from two of these projects, the NCMB and the LPD in the current calendar year.”

“Six Very Large Gas Carriers, VLGC, six Aframax Vessels, and another tender, high-value tender for container ships is expected to come soon.”

“So, now that demand has been aggregated and the opportunities are fantastic. About 200 plus platforms are required.”

“And we will take part in the RFPs which are coming out. I expect some of them to come out in the coming one year.”

“In the last quarter, we had three of the ships which were commissioned. So, the last phase of commissioning, a certain amount of expenditure was incurred for these activities. So, in the current quarter, we did not have such occasions. So, that has resulted in a drop in the other expenses.”

“You will definitely see some increase in that in the coming quarter because that is when we expect to deliver a couple of ships.”

“Yes, you are absolutely right that the contract expense is have come down. The deployment of contract workers varies from the project execution phase.”

“We don't see any abnormality, and we have already factored those in our, let us say, future projections and calculations.”

“We are again being shortlisted for another project of the Navy, which is again for an underwater unmanned platform.”

“MR Tanker, we are collaborating with one of our sister shipyards, and so are we doing so for the VLGC.”

“we, along with our partnership here in India, we already tied up with one of the foreign shipyards with proven capability”

“Coming to the other products, let us say marine diesel engines, we have a collaboration with another foreign OEM, so co-production of marine diesel engines. When the project fructifies, the indigenization level would be about 55% to 60%.”

“We were expecting the contract to be signed either during the end of the last financial year or during the first quarter, but we are confident that the contract will be signed this quarter. We do not see any red flags with respect to the contract conclusion.”

“Coming to the container ships, yes, currently we do not have the physical capacity because the size of the ships are large, but we are going in for a partnership with one of the other Indian shipyards who have got the dock and berth infrastructures to handle this project.”

“in case of propulsion engines, we have still not achieved indigenization”

“Our total income stood at ₹1,914 crore, recording a year-on-year growth of 38% when compared to Q1 FY26 results and the revenue from operations has increased from ₹1,310 crore to ₹1,815 crore recording a growth of 39%.”

“The profit after tax has moved up by 44% from ₹ 120 crore to ₹173 crore during this period and the earnings per share has increased by 44% from ₹10.49 to ₹15.09.”

“one of the defining milestones for GRSE during the year was being accorded the Navratna status by the Government of India, Department of Public Enterprises.”

“GRSE built three ships INS Dunagiri that is the second P17A Alpha stealth frigate, INS Sanshodhak, the last of the four-Survey Vessel Large and INS Agrai, the fourth ship of the eight-ship Anti-Submarine Shallow Water Craft project, were commissioned into the Indian Navy”

“we are focusing on new technology adoption and maximizing the use of robotics in our production processes”