Synopsis: A welding consumables manufacturer from Thane has been declared as the only supplier of the welding consumables for the commissioning of three indigenously built Indian Navy warships namely INS Dunagiri, INS Agray and INS Sanshodhak built by Garden Reach Shipbuilders & Engineers, in a rare tri-commissioning ceremony attended by the Prime Minister in Kolkata.
India’s Atmanirbhar Bharat push in defence manufacturing has just produced one of its most visible milestones and a niche welding solutions company from Maharashtra has quietly been at the heart of it, supplying the critical joining technology that holds three frontline naval platforms together.
With a market capitalization of Rs.500 crore, the shares of GEE Limited were trading at Rs.104. The stock hit 20 percent upper circuit and is trading at a P/E of approximately 32x.
Update Overview
GEE Limited revealed that it was the only supplier of welding consumables for the commissioning of three state-of-the-art indigenous warships INS Dunagiri, INS Agray and INS Sanshodhak formally inducted into the Indian Navy on June 21, 2026 in Kolkata. The ceremony, the second triple commissioning of frontline naval platforms in recent years, was presided over by Prime Minister Shri Narendra Modi.
All three ships were designed by the Indian Navy’s Warship Design Bureau and constructed by Garden Reach Shipbuilders & Engineers Ltd. (GRSE), with indigenous content of over 75%. Each platform has a separate strategic objective. INS Dunagiri is a Project 17A Stealth Frigate with BrahMos and Barak-8 missiles for blue-water combat. INS Agray is an Arnala-class Anti-Submarine Warfare Shallow Water Craft for littoral operations and submarine hunting. INS Sanshodhak is an Advanced Survey Vessel with Autonomous Underwater Vehicles and Remotely Operated Vehicles for deep-sea hydrographic missions.
Being the exclusive welding consumables partner across three structurally different naval platforms simultaneously is not a routine commercial win. It is a quality certification that defence primes and shipbuilders rarely hand out lightly. For GEE, it signals that its GWELD-branded consumables can meet the uncompromising fabrication and structural integrity standards demanded by India’s most sensitive defence programmes.
Umesh Agrawal, Joint Managing Director said, “Being able to supply critical welding consumables for three different naval platforms at a time, is a testament to the technical expertise and reliability of the company in supporting the strategic defence goals of India and is a step towards our commitment to the growing indigenous defence and shipbuilding ecosystem.
Financial Snapshot & Business Overview
GEE Limited is a Thane based welding consumables manufacturer with over 65 years of experience in the industry, operating under the brand GWELD. The company has a manufacturing capacity of 59,000 MT at its plants in Kalyan and Kolkata and caters to sectors like defence, railways, ship building, power, oil & gas and infrastructure.
It has a clientele of BHEL, NTPC, ONGC, L&T, Reliance, Tata, Adani and Indian Railways backed by 500+ dealers, exports to 20+ countries and strong approvals from DRDO, NPCIL and ADNOC.
The numbers tell a story of a business that went through a rough patch and is now clawing its way back. On a standalone basis for FY26, revenue from operations recovered to Rs.369 crore from Rs.334 crore in FY25. More importantly, operating profit surged to Rs.33 crore with OPM expanding to 9% a dramatic turnaround from the near-zero margins of the previous year. Net profit swung back to Rs.13 crore from a loss of Rs.9 crore in FY25.
The Navy association is a credibility milestone that money can’t buy. But with revenue still modest and the profitability recovery only one year old, the real question is whether GEE can turn this historic moment into a repeatable, scalable defence order pipeline.
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