Kolkata | June 11, 2025 — Garden Reach Shipbuilders & Engineers Ltd (GRSE), India’s trailblazing warship builder and a Mini Ratna Category I enterprise, has added another feather to its cap with a landmark agreement signed today with the Geological Survey of India (GSI). The deal marks the beginning of construction for two cutting-edge Coastal Research Vessels (CRVs) tailored for oceanographic and geoscientific missions.
The contract was officially inked between Cdr Shantanu Bose, Director (Shipbuilding), GRSE, and Dr. N. M. Shareef, Deputy Director General and Head of the Marine & Coastal Survey Division at GSI. This development reinforces GRSE’s growing clout in building next-generation research and exploration platforms, further diversifying its naval and commercial shipbuilding portfolio.
Next-Gen Science Ships for a Modern Maritime Vision
The CRVs, each stretching 64 meters in length and 12 meters in width, will carry a deadweight tonnage of roughly 450 tons. Built for endurance and agility, these vessels are designed for 15-day missions, achieving speeds of 10 knots and accommodating a scientific and support crew of 35 personnel.
More than just vessels, they are floating laboratories equipped for:
- High-resolution geological mapping
- Mineral and resource exploration, including dredging
- Oceanographic and environmental monitoring across depths ranging from 5 to 1,000 meters within India’s EEZ
Technological edge includes:
- Onboard state-of-the-art scientific laboratories
- Dynamic Positioning-1 (DP-1) capability for precision station-keeping in Sea State 3
Reinforcing a Legacy of Excellence
Though GRSE is widely recognized for its warship construction prowess, the shipyard has a storied history of building specialized maritime platforms. From the INS Sagardhwani (1994) to a fleet of Sandhayak-class survey vessels and now multiple high-tech research ships, GRSE has been steadily deepening its niche.
Currently, GRSE is involved in building 16 warships across four distinct classes for the Indian Navy. It also leads the race for the Navy’s prestigious Next Generation Corvette (NGC) project and is branching into global markets—constructing eight multi-purpose cargo vessels for a European client, signaling the company’s emergence as a versatile global shipbuilder.
Financial Winds at Full Sail
As remarkable as its shipbuilding achievements, GRSE’s financial trajectory in FY25 tells a story of robust growth. The company posted its highest-ever revenue and profit:
- Revenue from operations: ₹5,076 crore (up 41% from ₹3,593 crore in FY24)
- Profit After Tax (PAT): ₹527 crore (up 48% from ₹357 crore in FY24)
The fourth quarter of FY25 was a standout:
- Q4 revenue: ₹1,642 crore (62% YoY increase)
- Q4 PAT: ₹244 crore (118% YoY growth)
This strong financial footing is further bolstered by an order book of ₹22,652 crore as of March 31, 2025.
Strong Institutional Backing and Stellar Returns
Investor interest in GRSE remains buoyant. Between December 2024 and March 2025:
- FIIs increased holdings to 3.85%
- DIIs raised their stake to 1.90%
The President of India continues to hold a commanding 74.50% equity stake in the company. Reflecting the market’s confidence, GRSE’s stock has skyrocketed:
- 175% gain from its 52-week low
- 1,689% return over the past five years — a testament to its performance and potential
About GRSE
Founded in 1884 and headquartered in Kolkata, Garden Reach Shipbuilders & Engineers Ltd is one of India’s oldest and most respected naval shipyards. Under the Ministry of Defence, it has delivered over 790 platforms, including 110 warships—more than any other Indian shipbuilder. Its record includes pioneering milestones such as India’s first warship, INS Ajay, and the country’s first export warship, CGS Barracuda. With continual investments in innovation and infrastructure, GRSE stands as a pillar of India’s maritime aspirations.
Disclaimer: This article is intended for informational purposes only and should not be construed as financial advice.