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In its Q1 FY24 results, GRSE reported its best-ever net profit of Rs 77 crore. The firm saw a 54% rise in net profit as compared to the Rs 50 crore it reported in the year-ago period. Meanwhile, its total income stood at Rs 827 crore in the first quarter of the current fiscal, 33% higher than Rs 621 crore in the year-ago period. ....
President Droupadi Murmu arrived in Kolkata to inaugurate an advanced stealth frigate named Vindhyagiri for the Indian Navy built by Garden Reach Shipbuilders and Engineers Ltd (GRSE). The frigate marks the sixth vessel out of seven that are part of Project 17 Alpha aimed at strengthening the Navy s fleet. This initiative includes enhanced stealth features, advanced weaponry, sensors and platform management systems. The move comes as India takes steps to bolster its naval capabilities amid increasing challenges posed by assertive China in the Indo-Pacific region. ....
"Sixty-three ships are under construction out of which 61 are being built in India. We are giving thurst to self-reliance as per the directives of the government," Chief of Naval Staff Admiral R Hari Kumar said. Noting that patrol boat INS Ajay, the first naval ship to be built in India, was by GRSE, he said that the country has come a long way from there to build various ships like landing crafts, landing ships, corvettes, frigates, destroyers and aircraft carrier. ....
“The launch of “Vindhyagiri” marks a move forward in enhancing Indias maritime capabilities. Vindhyagiri is also a step towards achieving the goal of Atmanirbhar Bharat through indigenous ship-building,” Murmu said, while launching the warship, the last in the series of three Project 17 Alpha built for the Indian Navy. ....
Shares of warship maker GRSE rallied 19% to hit a new 52-week high of Rs 781 on BSE after the company reported its best-ever net profit of Rs 77 crore in the June quarter. The firm saw a 54% rise in net profit as compared to the Rs 50 crore it reported in the year-ago period. ....