Rs 22,652 crore order book: Defence shipbuilding company signs contract with GSI for two Coastal Research Vessels

The stock has delivered multibagger returns of 175 per cent from its 52-week low and a whopping 1,689 per cent in 5 years.

Garden Reach Shipbuilders and Engineers (GRSE) Ltd, a Schedule 'A' Mini Ratna Category I Company, marked a significant milestone on Wednesday, June 11th, 2025, by signing a contract with the Geological Survey of India (GSI) for the construction of two Coastal Research Vessels (CRVs). The agreement was formalised by Cdr Shantanu Bose, Director (Shipbuilding) of GRSE, and Dr N. M. Shareef, Deputy Director General & HoD, Marine & Coastal Survey Division, GSI. This contract underscores GRSE's established prowess in specialized research platforms, building on its ongoing projects including an Ocean Research Vessel (ORV) for NCPOR and an Acoustic Research Ship (ARS) for NPOL under DRDO.

Each of these specialised CRVs will be 64 meters long, with a width of 12 meters, and a deadweight tonnage of approximately 450 tons. Designed for extended missions, they will boast an endurance of 15 days, a top speed of 10 knots, and accommodate up to 35 personnel. These vessels are engineered for critical scientific tasks such as offshore geological mapping, mineral exploration (including dredging), and ocean environment monitoring. They will be equipped with modern, state-of-the-art scientific laboratories for efficient data processing and sample analysis, featuring a Dynamic Positioning-1 system to maintain position even in Sea State 3, and operating within India's Exclusive Economic Zone (EEZ) at depths of 5 to 1,000 meters.

While warship building remains GRSE's primary focus, the shipyard has a rich history of constructing diverse vessels, including the INS Sagardhwani marine acoustic research ship delivered in 1994, and six survey vessels for the Navy between 1981 and 1993. More recently, GRSE delivered two large Sandhayak-class survey vessels, with two more currently under construction, representing the largest and most advanced of their kind built in India. Presently, the shipyard is actively building 16 warships across four classes for the Navy and is the lowest bidder for the Navy’s Next Generation Corvettes (NGC) programme. Additionally, GRSE is expanding its international presence by building eight multi-purpose cargo vessels for a German company, showcasing its versatile shipbuilding capabilities.

About the Company

Garden Reach Shipbuilders & Engineers Ltd (GRSE), a Schedule ‘A’ Mini Ratna Category I Company, is a premier Indian warship builder with a rich history dating back to 1884. This Ministry of Defence undertaking has built over 790 platforms, including 110 warships for the Indian Navy, Coast Guard, and foreign navies. From India's first warship, the SDB INS Ajay, to its first export warship, the CGS Barracuda, GRSE's capabilities span a wide range of vessels, including frigates, corvettes, survey vessels, and fast attack craft. The shipyard's commitment to excellence and quality is reflected in its numerous accolades and ongoing infrastructure modernisation.

Garden Reach Shipbuilders & Engineers (GRSE) has announced remarkable financial results for FY25, achieving its highest-ever revenue and profit. Revenue from operations also saw a significant surge, climbing to Rs 5,076 crore in FY25 from Rs 3,593 crore in the previous year, representing a 41 per cent increase. Profit After Tax (PAT) witnessed an impressive 48 per cent growth, rising to Rs 527 crore in FY25 from Rs 357 crore in FY24.

The fourth quarter of FY25 also demonstrated exceptional performance for GRSE. Revenue from operations in Q4FY25 stood at Rs 1,642 crore, a notable 62 per cent increase from the Rs 1,016 crore reported in Q4FY24. Furthermore, the Profit After Tax (PAT) in Q4FY25 soared to Rs 244 crore, exhibiting an extraordinary growth of 118 per cent compared to the Rs 112 crore in Q4FY24.

FIIs bought 1,57,514 shares & DIIs bought 32,672 shares, increasing their stake to 3.85 per cent and 1.90 per cent, respectively, in March 2025 compared to December 2024. The President of India’s portfolio owns 8,53,41,240 shares or 74.50 per cent stake in the company as of March 2025. The order book as of March 31, 2025, stands at Rs 22,652 crore. The stock has delivered multibagger returns of 175 per cent from its 52-week low and a whopping 1,689 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.