Government of India owned naval shipbuilder, Garden Reach Shipbuilders & Engineers Ltd, has a record order book of ₹22,930 crore. This is for seven shipbuilding projects, two of which are expected to be completed in the current year. The other five will be executed in 2024-25.
On the basis of the order book at the execution plan, the company expects its turnover to be more than double of what it was in 2021-22.
Going by trajectory
At a press conference here today, the company’s Chairman and Managing Director, Commodore P R Hari, did not say that the turnover would double; however, he pointed out that the company’s turnover in the first half of the current year, at ₹1,262 crore, was 74 per cent over that of the corresponding period of last year, and ₹1,748 crore in the full year 2021-22. He indicated that projected turnover for the next two years would be on the same trajectory.
Post tax profit (PAT) for the first half of the current year increased to ₹109 crore, from ₹79 crore previously. Earnings per share rose to ₹9.51, from ₹6.93. On the NSE today, the GRSE share closed at ₹491.95, compared with ₹254 on June 1, and 52-week low of ₹179.
Thrust on indigenisation
Commodore Hari noted that the Centre’s push for defence procurement from local manufacturers was helpful. “41 warships are being built for the Navy now; 39 of them are being built in India,” he said.
He said all five government-owned shipyards (others being Cochin, Mazagon, Goa and Hindustan Shipyard at Visakhapatnam) and private shipbuilders like L&T, are all fully loaded with work.
West Bengal ferry
Commodore Hari said he was “eagerly looking forward” to the completion of a riverine electric passenger vessel that Garden Reach is building for West Bengal.government. “This will open up more orders,” he said, adding that while the value of the vessel—₹10 crore—is not very high, electric vessels are the need of the hour.
SHARE
- Copy link
- Telegram
Published on November 25, 2022
el.parentNode == parent) if (filtered_divs[1]) { var newElement = document.createElement(‘div’); newElement.id = slotName; newElement.setAttribute(“class”, “dfp-ad element no-border hide-system”); filtered_divs[1].parentNode.insertBefore(newElement, filtered_divs[1].nextSibling) } } catch (err) { console.log(“ad error”) }googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1660731707267-0’); }); }}); ]]>
el.parentNode == parent) if (filtered_divs[4]) { var newElement = document.createElement(‘div’); newElement.id = slotName; newElement.setAttribute(“class”, “dfp-ad element bill-board-ad no-border py-2 mb-3 hide-mobile text-center”); filtered_divs[4].parentNode.insertBefore(newElement, filtered_divs[4].nextSibling) } } catch (err) { console.log(“ad error”) }googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1660731171391-0’); }); }}); ]]>
el.parentNode == parent) if (filtered_divs[4]) { var newElement = document.createElement(‘div’); newElement.id = slotName; newElement.setAttribute(“class”, “dfp-ad element no-border hide-system text-center”); filtered_divs[4].parentNode.insertBefore(newElement, filtered_divs[4].nextSibling) } } catch (err) { console.log(“ad error”) }googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1660731946557-0’); }); }}); ]]>