Garden Reach Shipbuilders to reach Rs 25,000-Crore Order Book by FY25

GRSE Chairman and Managing Director, Commodore (Retired) PR Hari expects the company's order book to touch Rs 25,000 crore by the end of the current fiscal, on the back of the new order flows. Commodore Hari that the company’s current order book stands at Rs 24,221 crore and added that the company expects to win two more orders over the next 3–4 months.

“In the next 3–4 months, we expect to sign two more contracts, including three multipurpose research vessels with a European client and two coastal research vessels with the Geological Survey of India,” he said.

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The company's order book will touch Rs 25,000 crore by the end of the current fiscal, he said. “Considering our execution strategy and the current maturity level of our projects, we expect the order book to remain between Rs 23,000 to Rs 25000 crore,” Commodore Hari said.

“This (current order book) comprises 42 platforms from 12 projects including 17 warships for the Navy, two specialized search vessels for Indian government research organizations, and 14 hybrid and electric ferries for the government of West Bengal as well as 10 export platforms including five multipurpose vessels for a European client,” he noted. 

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He elaborated, “This is an eight-ship project for the Indian Navy. The bids have already been submitted and the technical evaluation is in progress. In our appreciation, we expect the price bid to be declared either in December or January. The total size of the order will be Rs 36,000 to Rs 40,000 crore.” 

The L1 shipyard (lowest bidder) gets around Rs 25,000 crore in orders. In addition, the Navy and Coastguard are likely to come up next year with RFPs (request for proposals) worth Rs 13,000 crore to Rs 15,000 crore,” he added.

“In ship repair, the margins range from 15–20%. At this juncture, ship repair contributes 3–4% to our order book and revenue. I expect that in 1–3 years, our ship repair segment will take a major leap,” Commodore Hari said.

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