Latest news with #PRV
Business Standard
16 hours ago
- Business
- Business Standard
GRSE soars after MOU to build India's first Polar Research Vessel
Garden Reach Shipbuilders and Engineers (GRSE) surged 7.49% to Rs 3385.85 after the company inked a milestone MoU with Norway's Kongsberg Oslo to build India's first indigenous Polar Research Vessel (PRV). The project, to be executed at GRSE's Kolkata yard, will support deep-sea research in polar and southern oceans. The PRV will be equipped with cutting-edge scientific instruments and developed in partnership with the National Centre for Polar and Ocean Research (NCOPR), aligning with the governments 'Make in India' push. Union Minister Sarbananda Sonowal, currently in Norway for the Nor-Shipping event, noted that Indian shipyards now hold 11% of the Norwegian Shipowners Associations order book, showcasing Indias rising stature in global shipbuilding. GRSE is a premier shipbuilding company in India under the administrative control of the Ministry of Defence, primarily serves the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. As of 31 March 2025, the Government of India holds 74.50% in the company. The company's standalone net profit surged 118.87% to Rs 244.24 crore while revenue from operations jumped 61.66% to Rs 1,642.03 crore in Q4 FY25 over Q4 FY24.
India Today
17 hours ago
- Business
- India Today
India partners with Norway to build first indigenous polar research vessel. Key details
India is set to construct its first indigenous Polar Research Vessel (PRV) following a Memorandum of Understanding (MoU) signed between Garden Reach Shipbuilders and Engineers Limited (GRSE) and Norway's Kongsberg Oslo. The agreement, formalised in Oslo in the presence of Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, marks a significant advancement in India's maritime and scientific PRV will be equipped with state-of-the-art scientific instruments, enabling researchers to delve into oceanic depths and study marine ecosystems. This initiative aligns with India's commitment to scientific progress and sustainable development, providing invaluable insights into the planet's environmental India's polar research missions have relied on chartered vessels from the international market. The acquisition of an indigenous PRV will reduce this dependency, granting India greater autonomy in its polar explorations. The vessel is expected to play a crucial role in supporting India's research bases in Antarctica and the Arctic, facilitating continuous access essential for climate change studies and other scientific endeavors. The collaboration with Kongsberg Oslo underscores the importance of international partnerships in achieving complex technological feats. By integrating global expertise with domestic capabilities, India aims to bolster its maritime infrastructure and scientific research. This initiative is a testament to India's strategic vision of becoming self-reliant in critical technologies while fostering global construction of the PRV is anticipated to be completed within the next five years, with an estimated cost of 2,600 crore. This investment reflects India's dedication to enhancing its research infrastructure and expanding its presence in polar addition to supporting polar research, the PRV will serve as a versatile platform for oceanographic studies, including research in the Southern Ocean. This multifunctional capability will enable Indian scientists to undertake comprehensive studies of marine environments, contributing to a deeper understanding of global climate systems and marine initiative also aligns with India's broader maritime objectives, as articulated by Minister Sonowal during discussions at Nor Shipping 2025 in Norway. He emphasized India's vision of 'MAHASAGAR,' aiming for inclusive growth and international collaboration in the maritime summary, the construction of India's first indigenous Polar Research Vessel represents a significant milestone in the nation's scientific and maritime endeavors. By reducing reliance on foreign vessels and enhancing research capabilities, India is poised to make substantial contributions to polar science and oceanography, reinforcing its commitment to sustainable development and international InMust Watch
India Today
17 hours ago
- Business
- India Today
GRSE shares jump 10% today: What's fuelling the rally?
Garden Reach Shipbuilders and Engineers (GRSE) shares rose by up to 10% following the signing of a Memorandum of Understanding (MoU) with Kongsberg Oslo. This strategic move has drawn the attention of investors and industry observers. The collaboration aims at developing India's first Polar Research the Bombay Stock Exchange, GRSE shares were trading 5.16% higher at Rs 3,312.50, after hitting an intraday high of Rs 3,464.85. Around 1:05 pm, the shares continued to be 5.16% Minister Sarbananda Sonowal attended the signing ceremony on June 3 in Oslo, emphasising the strategic importance of the deal. The shares of GRSE reflected a 10% increase, showcasing the market's positive response. This agreement represents India's efforts to enhance scientific research capabilities with the construction of the Polar Research Vessel (PRV).The PRV will be equipped with advanced scientific technology to explore marine ecosystems and study the planet's historical and environmental changes. Minister Sonowal highlighted the commitment to scientific progress and sustainable addition to this collaboration, GRSE has emerged as the lowest bidder for the Indian Navy's Next Generation Corvettes (NGC) project, which is valued at over Rs 25,000 crore. This is expected to significantly expand GRSE's order book by constructing five of the eight planned corvettes, reinforcing its role in the defence faced a challenge when the Bangladesh government cancelled a $21 million order for an ocean-going tug. Nonetheless, GRSE's stock performance remains strong, showing a 100% increase this year and a 629% rise over the past two this, analysts hold a 'Hold' rating on the stock due to an average target price of Rs 2,341, suggesting a potential downside of nearly 30% from current his Oslo visit, Minister Sonowal participated in discussions on ocean business, aligning with India's "MAHASAGAR" initiative—Growth for All, which reflects broader objectives to enhance maritime capabilities and sustainable analysts recommend caution with a 'Hold' rating on GRSE shares, the long-term outlook remains promising as the government invests in the defence and research sectors. This strategic partnership, complemented by potential defence contracts, is expected to support GRSE's growth path.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
News18
18 hours ago
- Business
- News18
GRSE Shares Surge 10% On Norways Polar Research Vessel Order; Stock Zooms 194% From March Low
Last Updated: Multibagger defence stock Garden Reach Shipbuilders & Engineers (GRSE) surged nearly 10% in intra-day trading on Wednesday GRSE Stock Price: Multibagger defence stock Garden Reach Shipbuilders & Engineers (GRSE) surged nearly 10% in intra-day trading on Wednesday, June 4, hitting its upper circuit limit and marking a fresh 52-week high. This surge follows a significant order win from Norway-based Kongsberg. Since March 2025, GRSE has delivered a staggering 194% gain, outperforming the broader market for the fourth month in a row. According to an official statement, the partnership between GRSE and Kongsberg will enable India to build its first-ever indigenously developed Polar Research Vessel (PRV). 'The MoU between GRSE and Kongsberg marks an important milestone for India's shipbuilding sector, bringing in design expertise for the PRV to meet the needs of the National Centre for Polar and Ocean Research (NCOPR)," the statement said. With its proven track record in constructing complex maritime platforms, such as warships and research vessels, GRSE will build this PRV at its Kolkata yard, bolstering the government's Make in India initiative. GRSE Stock Performance The defence PSU's stock opened at Rs 3,184, higher than its previous close of Rs 3,149.90. It climbed further to Rs 3,464.85, up 9.99%. The rally in GRSE shares aligns with broader gains in defence counters following Operation Sindoor. The stock has surged 104% year-to-date (YTD) and is up 168% in just three months. According to Jigar S Patel, Senior Manager – Technical Research at Anand Rathi Shares and Stock Brokers, GRSE appears overextended at the current level, having rallied around 192% from its March low of Rs 1,185. In the March quarter of FY25, GRSE reported a strong net profit of Rs 244 crore, a sharp rise from Rs 111.6 crore a year earlier. Revenue grew 62% year-on-year to Rs 1,642 crore, up from Rs 1,015.7 crore. On the operational front, EBITDA jumped 145% to Rs 220.95 crore from Rs 90.35 crore a year ago. Operating margins improved to 13.5% from 8.9%. The company's board has recommended a final dividend of Rs 4.9 per share for FY25, pending shareholder approval at the upcoming AGM. Cmde Hari PR, IN (Retd), Chairman and Managing Director of GRSE, commented: 'Happy to report yet another set of strong numbers. With our robust order book, mature execution of ongoing projects, and growing visibility in defence and commercial shipbuilding, I'm confident of an even stronger performance this year." Over the past month alone, GRSE shares have jumped more than 60%, far outpacing the Nifty 50 index, which managed only a 0.3% rise in the same period. First Published: June 04, 2025, 12:51 IST
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Business Standard
20 hours ago
- Business
- Business Standard
PSU stock zooms 194% from March low; outruns market for 4th straight month
Garden Reach Shipbuilders & Engineers (GRSE) share price today Garden Reach Shipbuilders & Engineers (GRSE) shares hit a new high of ₹3,464.85, as they rallied 10 per cent on the BSE in Wednesday's intra-day trade amid heavy volumes. In the past two trading days, the stock price of the public sector undertaking (PSU) shipbuilding company has rallied 17 per cent as the company signed a Memorandum of Understanding (MoU) with Norwegian firm Kongsberg to co-design and build India's first-ever polar research vehicle (PRV) indigenously. At 10:43 AM; GRSE was quoting 6 per cent higher at ₹3,338, as compared to 0.21 per cent rise in the BSE Sensex. A combined 5.7 million equity shares changed hands on the NSE and BSE. GRSE signs pact with Norway-based Kongsberg GRSE and Norway's Kongsberg signed a MoU to enable the indigenous construction of PRV. The collaboration will provide GRSE with the design expertise needed to meet the operational requirements of the National Centre for Polar and Ocean Research (NCOPR). The collaboration marks a significant step in India-Norway ties, with GRSE leveraging Kongsberg's expertise in ship design while strengthening domestic shipbuilding capabilities. The project aligns with India's goal of becoming a global leader in maritime technology and climate-resilient research. GRSE outperforms market for fourth straight month Shares of GRSE have outperformed the market for the fourth straight month. The stock has more-than doubled or zoomed 194 per cent from its March 2025 low of ₹ 1,180.10 on the BSE. In the first three trading days of the current month, GRSE has gained 15 per cent, as compared to 0.87 per cent decline in the BSE Sensex. In the month of March, GRSE had rallied 34 per cent, as against 5.8 per cent rise in the benchmark index. In the month of April, the stock gained 14 per cent, followed by 57 per cent in May. The Sensex was up 3.6 per cent and 1.5 per cent, respectively in the corresponding months. GRSE Q4 results For the March 2025 quarter (Q4FY25), GRSE's revenue from operations moved up from ₹1,015 crore to ₹1,642 crore, registering a growth of 62 per cent year-on-year (Y-o-Y). Earnings before interest, taxes, depreciation and amortisation (Ebitda) moved up from ₹166 crore to ₹335 crore, registering a growth of 101 per cent Y-o-Y, and the profit after tax climbed from ₹114 crore to ₹244 crore, registering a 118 per cent growth Y-o-Y. This has been backed by a very strong physical performance, supported by an efficient and effective treasury management system, the management said. GRSE order book As on March 31, 2025, the company's order book stood at ₹22,652 crore. Further, despite the strong revenue accrual to the tune of nearly ₹5,000 crore, the management said the company managed to maintain the order book at ₹22,680 crore as on March 31, 2025. This comprises nine projects, consisting of 40 platforms, including 16 warships for the Indian Navy from 4 projects, three P-17 Alpha Frigates, 7 Anti-Submarine Shallow Watercraft, 2 Survey Vessels Large and 4 Next Generation Offshore Patrol Vessels. Meanwhile, the company has a robust shipbuilding order pipeline, including large orders, such as the P-17 Bravo Frigates (eight units for ₹70,000 crore), the Next Generation Corvettes (NGC); eight units of ₹40,000 crore, project likely to be awarded in FY26, 18 next generation fast patrol vessels worth ₹3,000 crore, five next generation survey vessels worth ₹3,500 crore, 31 waterjet fast attack craft worth ₹3,000 crore, 12 mine countermeasure vessels worth ₹32,000 crore and several small projects of ₹1,500-₹3,000 crore. About Garden Reach Shipbuilders Garden Reach Shipbuilders & Engineers is a shipbuilding company operating under the Ministry of Defence. Headquartered in Kolkata, Garden Reach Shipbuilders plays a vital role in strengthening India's maritime capabilities, primarily focusing on the construction of sophisticated warships and vessels for the Indian Navy and Coast Guard. In addition to defence projects, the company also undertakes the construction of commercial vessels, highlighting its versatility in shipbuilding. Beyond its core shipbuilding operations, the company has diversified into engineering and engine-related activities. It manufactures a wide range of marine and industrial products including deck machinery, prefabricated steel bridges, and marine pumps. Its engine division specialises in the assembly, testing, and overhauling of MTU diesel engines. With a proven track record of delivering over 100 warships to Indian defence forces, Garden Reach Shipbuilders is also recognised as a major exporter in the global warship market. Its main shipbuilding facility is located at the Rajabagan Dockyard in India.
