Synopsis: Garden Reach Shipbuilders & Engineers (GRSE) has emerged as the lowest bidder (L1) for a Rs. 40 crore contract from Shyama Prasad Mukherjee Port, Kolkata, for the supply of a 15-ton Electric Bollard Pull Tug. The order is expected to strengthen the company’s commercial shipbuilding portfolio alongside its defence business.
Shares of Garden Reach Shipbuilders & Engineers Limited (GRSE) are likely to remain in focus after the company announced that it has emerged as the lowest bidder (L1) for a tug supply contract from Shyama Prasad Mukherjee Port, Kolkata (SMPK).
Garden Reach Shipbuilders & Engineers Limited has a total market capitalization of approximately Rs. 31,878.68 crore. The company’s shares were trading at Rs. 2784.50 apiece on the stock exchange, up 0.63 percent during the session. The stock has declined 1.42 percent over the last five trading sessions, while it has gained 4.07 percent over the last month. The stock touched a 52-week high of Rs. 3524 and a 52-week low of Rs. 1963.70.
According to the company’s regulatory filing, GRSE participated in the tender floated by Shyama Prasad Mukherjee Port, Kolkata, for the supply of a 15-ton Electric Bollard Pull Tug. The financial bids were opened on June 23, 2026, following which the company emerged as the lowest bidder (L1).
The proposed contract is valued at approximately Rs. 40 crore and involves the construction and supply of one electric bollard pull tug. While the final award will be subject to the issuance of a formal Letter of Award (LoA), securing the L1 position significantly enhances the company’s chances of winning the contract.
The order highlights GRSE’s expanding presence beyond defence shipbuilding into the commercial and green maritime segments. Electric tugs are increasingly being adopted by ports worldwide as they reduce carbon emissions, lower operating costs, and support the transition toward sustainable port operations.
India’s maritime sector is witnessing increasing investments under initiatives such as the Maritime India Vision 2030 and the Green Ports Programme, encouraging ports to modernize fleets with environmentally friendly vessels. The growing focus on electrification and cleaner marine technologies is expected to create fresh opportunities for domestic shipbuilders.
For investors, the development reinforces GRSE’s diversified order pipeline and showcases its capability to execute both defence and commercial marine projects. Continued order inflows from ports, along with strong defence contracts, could support long-term revenue visibility and strengthen the company’s position in the domestic shipbuilding industry.
Incorporated in 1884, Garden Reach Shipbuilders & Engineers Limited is a leading defence public sector undertaking under the Ministry of Defence. The company specializes in the design and construction of warships, patrol vessels, survey ships, landing craft, and commercial vessels while also undertaking ship repairs and marine engineering projects. GRSE was the first Indian shipyard to export warships and has delivered more than 100 warships to the Indian Navy and the Indian Coast Guard.
The latest L1 status for the Rs. 40 crore electric tug project further strengthens GRSE’s commercial shipbuilding portfolio while supporting India’s transition towards greener and more sustainable maritime infrastructure.
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