Garden Reach Shipbuilders & Engineers Ltd Share Price – NSE  / BSE

Aerospace & Defence, Small Cap

The ferries will be operated on the River Hooghly by the West Bengal Transport Infrastructure Development Corporation.

As per the contract, the hybrid ferries will carry passengers in all-weather conditions on River Hooghly (part of National Waterway – 1, the Ganga-Bhagirathi-Hooghly River System) in the Kolkata Metropolitan Area (KMA), stretching from Triveni in the north to Diamond Harbour in the south.

The said vessels will have catamaran hull design and be built with aluminum and Fiber Reinforced Polymer or FRP. The hybrid electric propulsion systems will be powered by batteries as well as diesel generators. The hybrid system will offer greater flexibility to the operator to switch from one mode to the other as per requirement, allowing for greater safety. The use of batteries will reduce pollution substantially.

Of the 13 ferries for which the contract was signed, six will have twin decks with a capacity of 200 passengers each. The main deck will be air-conditioned. The estimated cost of these six vessels is Rs 126.41 crore (exclusing GST).

The remaining seven vessels will have only a single deck with a passenger capacity of 100. These ferries will be nearly 25 meters long and 8 meters wide with a top speed of 9 knots. There is provision for five crew members on board. These seven vessels are expected to cost nearly Rs 99.77 crore (exclusing GST).

State-run GRSE is engaged in building warships and other vessels for the Indian Navy and Indian Coast Guard. It has also diversified into engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items and assembly, as well as testing & overhauling of marine diesel engines. As on 30 September 2024, the Government of India holds 74.50% in the company.

The company's net profit climbed 21.09% to Rs 97.77 crore on 28.4% rise in revenue from operations to Rs 1,152.92 crore in Q2 FY25 over Q2 FY24.

The counter advanced 1.67% to settle at Rs 1411.60 on Tuesday, 19 November 2024. The market will remain shut today on account of Maharashtra Assembly polls.

Powered by Capital Market - Live News

Garden Reach Shipbuilders & Engineers signed a contract with the Transport Department, Government of West Bengal, for the delivery of 13 hybrid ferries on 19 November, 2024. The ferries will be operated on the River Hooghly by the West Bengal Transport Infrastructure Development Corporation (WBTIDCL).

These vessels will have catamaran hull design and be built with aluminum and Fiber Reinforced Polymer or FRP. The hybrid electric propulsion systems will be powered by batteries as well as diesel generators. The hybrid system will offer greater flexibility to the operator to switch from one mode to the other as per requirement, allowing for greater safety. The use of batteries will reduce pollution substantially.

Of the 13 ferries for which the contract was signed, six will have twin decks with a capacity of 200 passengers each. The main deck will be air-conditioned. These vessels will be about 30 meters long and 8-10 meters wide. Their maximum speed will be 12 knots and each will require a crew of five. The estimated cost of these six vessels is Rs 126.41 crore (excl. GST).

The remaining seven vessels will have only a single deck with a passenger capacity of 100. These ferries will be nearly 25 meters long and 8 meters wide with a top speed of 9 knots. There is provision for five crew members on board. These seven vessels are expected to cost nearly Rs 99.77 crore (excl. GST).

Powered by Capital Market - Live News

Profit before tax (PBT) stood at Rs 130.53 crore September 2024 quarter, up 21.43% as compared with Rs 130.53 crore recorded in the same quarter last year.

Total expenses spiked 27.3% to Rs 1,097.30 crore in Q2 FY25 over Q2 FY24. During the quarter, cost of materials consumed stood at Rs 807.20 crore (up 33.89% YoY) while employee benefits expense was at Rs 82.51crore (down 0.45% YoY).

The earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 144 crore in the September quarter of FY24, registering a growth of 20% on YoY basis.

Cmde Hari PR, IN (Retd) chairman and managing director, Garden Reach Shipbuilders & Engineers said, Our Q2 & H1/ FY 24 results have been very encouraging and our existing orders for Indian Navy, coupled with orders for commercial vessels and specialized research vessels provide us a clear growth path. With a strong order book and more orders on the anvil, the foreseeable future looks promising and we are confident of continued delivery of strong numbers.

State-run GRSE is engaged in building warships and other vessels for the Indian Navy and Indian Coast Guard. It has also diversified into engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items and assembly, as well as testing & overhauling of marine diesel engines. As on 30 September 2024, the Government of India holds 74.50% in the company.

Powered by Capital Market - Live News

Net profit of Garden Reach Shipbuilders & Engineers rose 21.09% to Rs 97.77 crore in the quarter ended September 2024 as against Rs 80.74 crore during the previous quarter ended September 2023. Sales rose 28.40% to Rs 1152.92 crore in the quarter ended September 2024 as against Rs 897.91 crore during the previous quarter ended September 2023.

Powered by Capital Market - Live News