Garden Reach Shipbuilders and Engineers Signed a Contract With the West Bengal Government

Founded in 1884, GRSE boasts a long and esteemed history, positioning it among the oldest shipyards in India. Throughout the years, the company has built a reputation as a dependable and trustworthy collaborator for clients both at home and abroad. Equipped with cutting-edge facilities and a talented workforce, GRSE is adept at producing high-quality vessels that satisfy the rigorous demands of its customers.

GRSE signed a contract with the Government of West Bengal

Garden Reach Shipbuilders & Engineers (GRSE) has entered into an agreement with the Transport Department of the Government of West Bengal to deliver 13 hybrid ferries for a total amount of Rs 226.18 crore.

These ferries will be utilized on the River Hooghly by the West Bengal Transport Infrastructure Development Corporation. According to the contract, the hybrid ferries are designed to transport passengers under all weather conditions along the River Hooghly, which is part of National Waterway 1, comprising the Ganga-Bhagirathi-Hooghly River System, within the Kolkata Metropolitan Area (KMA), from Triveni in the north to Diamond Harbour in the south.

All about 13 hybrid ferries

The vessels in question will feature a catamaran hull design and will be constructed using aluminium and Fiber Reinforced Polymer (FRP). Their hybrid electric propulsion systems will draw power from both batteries and diesel generators. This hybrid approach allows operators to easily switch between modes as needed, enhancing safety. Utilizing batteries will significantly reduce emissions.

Out of the 13 ferries covered by the contract, six will include dual decks, each accommodating 200 passengers. The main deck will be equipped with air conditioning. The projected cost for these six vessels is Rs 126.41 crore (not including GST). The other seven ferries will have a single deck with a passenger capacity of 100. Each of these ferries will measure approximately 25 meters in length and 8 meters in width, achieving a maximum speed of 9 knots. There will be accommodations for five crew members on board. The estimated cost for these seven vessels is around Rs 99.77 crore (excluding GST).

GRSE Q2 FY25 result

Ebitda increased by 41% to Rs 68.7 crore, compared to Rs 48.8 crore (expected: Rs 60 crore). The margin grew by 60 basis points to 6% from 5.4% (projected 6.5%). Net profit rose by 21% to Rs 97.8 crore, up from Rs 80.7 crore (forecast: Rs 87 crore). The company’s net profit surged by 21.09% to Rs 97.77 crore, driven by a 28.4% increase in revenue from operations, reaching Rs 1,152.92 crore in Q2 FY25 compared to Q2 FY24.

GRSE stock is 1% down 

GRSE stock is currently trading at Rs. 1,396.55 per share, reflecting a 1% decline at the moment. The lowest price it has reached today so far is Rs. 1,385.50.

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