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Garden Reach Shipbuilders & Engineers Ltd.

BSE: 542011 Sector: Others
NSE: GRSE ISIN Code: INE382Z01011
BSE 00:00 | 15 Oct 171.55 3.40
(2.02%)
OPEN

169.95

HIGH

174.00

LOW

168.70

NSE 00:00 | 15 Oct 171.45 3.30
(1.96%)
OPEN

169.45

HIGH

174.10

LOW

168.30

OPEN 169.95
PREVIOUS CLOSE 168.15
VOLUME 19633
52-Week high 190.05
52-Week low 77.00
P/E 15.96
Mkt Cap.(Rs cr) 1,965
Buy Price 170.65
Buy Qty 95.00
Sell Price 171.55
Sell Qty 149.00
OPEN 169.95
CLOSE 168.15
VOLUME 19633
52-Week high 190.05
52-Week low 77.00
P/E 15.96
Mkt Cap.(Rs cr) 1,965
Buy Price 170.65
Buy Qty 95.00
Sell Price 171.55
Sell Qty 149.00

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) - Company History

Garden Reach Shipbuilders & Engineers Limited is a shipbuilding company in India under the administrative control of the Ministry of Defence (MoD) Government of India (GoI) and primarily adheres to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. In addition to ship and warship building capabilities it is engaged in engineering and engine production activities. As a part of its engineering division the company manufactures deck machinery items pre-fabricated portable steel bridges and marine pumps. The shipbuilding division contributes a significant majority of its revenue from operations. Over the years the Company has established capabilities for in-house design and shipbuilding and has made considerable contributions to the indigenous warship construction program of our country. The Shipbuilding product line spans from technologically sophisticated Frigates and Corvettes to Fast Patrol Vessels. In last five (5) decades the company has built and delivered ships ranging from small to large and advanced vessels including frigates anti-submarine warfare corvettes missile corvettes landing ship tanks landing craft utilities survey vessels fleet replenishment tankers fast patrol vessels offshore patrol vessels inshore patrol vessels WJ-FAC hover crafts and fast interceptor boats to the Indian Navy Indian Coast Guard MHA and Governments of other countries. The Company has built and supplied more than 750 vessels to carry men and materials as well as for the surveillance of the coast line. Over the years it has responded to the varied shipbuilding requirements of the Indian Defence Services and has evolved from building simpler vessels to building bigger and technically advanced warships.Presently the company has three (3) separate facilities for shipbuilding all of which are located in close vicinity of each other at Kolkata India. The Company builds ships at the Main Works Unit and the Rajabagan Dockyard. Third facility the FOJ Unit is primarily used for fitting out and repair of ships. The Diesel Engine Plant (DEP) is engaged in the testing and overhauling of marine propulsion engines and assembly of semi-knocked down units of diesel engines. The Engineering segment is engaged in the manufacturing and fabrication of portable steel bridges deck machineries of ships and marine pumps.Over the years the Company has been credited with many firsts in the Indian shipbuilding industry. For instance it is the first Indian shipyard to integrate carbon composite superstructure with steel hull for the construction of its third ASW Corvette for the Indian Navy which resulted in a reduction in weight and increase in stability of the ships.The Company has in the past and continues to associate with several technology firms in their industry like MTU and other international/ domestic entities for their different business segments.Prior to being initially incorporated as a limited company it was engaged in the business of operating shipbuilding and repair workshops since 1884 as an unincorporated entity. The Company was incorporated under the name and style of 'Garden Reach Workshops Limited' on February 26 1934. The word `Private' was added to the name of the Company and the name of the Company became 'Garden Reach Workshops Private Limited' on November 5 1957. In the year 1960 the Company was acquired by the GoI. The Company changed its name to Garden Reach Workshops Limited on November 30 1961 pursuant to the acquisition of the Company by the GoI. In 1961 the company built the indigenous warship of the country INS Ajay which was the first Naval ship built in the country after India's independence.The name of the company was again changed from Garden Reach Workshops Limited to Garden Reach Shipbuilders & Engineers Limited on December 31 1976 pursuant to the certificate of incorporation issued by the Registrar of Companies West Bengal.In 1980 the company built the patrol vessel for Indian Coast Guard CGS Rajhans (GRSE Yard 2003). In 1981 the company designed and built survey vessel for Indian Navy. This 1900-ton ship INS Sandhayak was delivered on February 26 1981. In 1984 the company designed in-house and built the first of class landing ship tank (large). The class ship of new design FPV CGS Priyadarshini built by the company was delivered to Indian Coast Guard on 3 March 1992. The class P-16A guided missile frigate INS Brahmaputra built by the company was launched on 26 January 1994. In 1994 the company built research vessel named as Sagardhwani which means 'Sound of Sea. In 1997 the company designed & developed portable steel bridges for the first time in India. In 2000 the company became the first and the only Indian shipyard to build and subsequently deliver a fleet tanker to the Indian Navy and to build and subsequently deliver a hovercraft to the Indian Coast Guard among others. The company built and delivered the class fast attack craft on September 11 2000 after extensive trials. On September 5 2006 the company was conferred with the status of Schedule B & Mini Ratna-Category I company by the Department of Public Enterprises under the Ministry of Heavy Industries and Public Enterprises Government of India. In 2016 the Company acquired the Rajabagan Dockyard from Central Inland Water Transport Corporation Limited.The two WJ-FAC INS Carnicobar and INS Chetlat built by the company were delivered on January 09 2009 to Indian Navy.The company signed the contract for building CGS Barracuda a multi-role offshore patrol vessel for National Coast Guard of Mauritius on March 04 2011 for export of a warship. The class ASW Corvette INS Kamorta built by the company was delivered to Indian Navy on July 12 2014. The first of the four (4) follow-on WJ-FAC INS Tarmugli was delivered to the Indian Navy on April 16 2016.The Company was converted into a public limited company on November 17 2017. The data Centre of Central Design Office at the company's 61 Park Unit was inaugurated on 1 June 2018. A modern Pump Test Bed Facility at the company's Taratala unit was inaugurated on 11 June 2018. A Virtual Reality Lab of Central Design Office at the company's 61 Park Unit was inaugurated on 7 July 2018.The Government of India offloaded 2.92 crore equity shares of the company by way of an initial public offer (IPO) during the period from 24 September 2018 to 1 October 2018. The IPO was priced at Rs 118 per share. The stock made its debut on the bourses on 10 October 2018. The Government of India's stake in the company declined to 74.5% from 100% after the IPO.