During Wednesday’s trading session, shares of a Defence Public Sector Undertaking and one of the leading warship builders in India hit a 10 percent upper circuit on exchanges, after signing an MoU with Norway’s Kongsberg to build India’s first-ever Polar Research Vessel.
With a market cap of Rs. 38,470.6 crores, at 10:24 a.m., the shares of Garden Reach Shipbuilders & Engineers Limited were trading in the green at Rs. 3,358.35 on BSE, up by nearly 6.6 percent, as against its previous closing price of Rs. 3,149.9. The stock has delivered multibagger returns of around 162 percent in one year, and has gained by more than 73 percent in the last one month.
What’s the News
According to Press Information Bureau (PIB), Garden Reach Shipbuilders and Engineers Limited (GRSE) has signed a Memorandum of Understanding (MoU) with Norway’s Kongsberg Oslo for the construction of India’s first-ever Polar Research Vessel (PRV).
The vessel will support advanced oceanic and polar research capabilities for the National Centre for Polar and Ocean Research (NCOPR), while also supporting India’s scientific advancement and ‘Make In India’ shipbuilding initiative.
During a high-level ministerial meeting on shipping, the Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, highlighted India’s expanded MAHASAGAR vision. This initiative builds on the earlier SAGAR strategy, promoting mutual and holistic maritime growth, sustainable ocean-based trade, and regional cooperation.
A roundtable discussion was also held with the Norwegian Shipowners’ Association (NSA), inviting investments in India’s maritime sector, emphasising the development of green ports, alternative fuels, and the utilisation of Indian shipyards, which currently account for 11 percent of the NSA’s order book.
Financials and More
GRSE reported a significant growth in revenue from operations, experiencing a year-on-year rise of nearly 62 percent, from Rs. 1,016 crores in Q4 FY24 to Rs. 1,642 crores in Q4 FY25.
Similarly, its net profit increased during the same period from Rs. 112 crores to Rs. 244 crores, representing an impressive growth of nearly 118 percent YoY. As of 31st March 2025, the company’s order book stood at Rs. 22,680 crores, with the P-17 Alpha project continuing to be the primary revenue contributor.
The order book includes 9 projects, consisting of a total of 40 platforms. These include 16 warships for the Indian Navy across 4 projects, three P-17 Alpha Frigates, 7 Anti-Submarine Shallow Watercraft, 2 Survey Vessels, and 4 Next Generation Offshore Patrol Vessels.
Written by Shivani Singh
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