91����

PRESS RELEASE

91���� inaugurates Job-oriented Skill Development Programmes for Youth at Ramakrishna Math Kolkata

Kolkata, 22 Aug 22: In its commitment towards CSR activities, Garden Reach Shipbuilders and Engineers Ltd., (91����), one of the leading Public Sector Undertaking and Mini-ratna Category 1 Shipyard inaugurated Skill Development Programs for youth including Phlebotomy Technician & General Duty Assistant Training Batches at Ramakrishna Math, Baghbazar.

The new batch was inaugurated by Cmde PR Hari, IN (Retd.), Chairman & Managing Director, 91���� in the presence of Swami Krishnanathananda of Ramakrishna Math, Senior Officials of 91���� & Ramakrishna Math.

91���� had signed a MoU with Ramakrishna Math, Belur on 21 Jul 2022 to provide vocational training programs at “Ma Sarada Swanirvar Kendra (MSSK)”, a unit of Ramakrishna Math (RKM), Baghbazar.

Under this initiative, 91���� plans to reinforce its commitment to continue being an active participant in improving the quality of life for the society at large in the state of West Bengal.

On the ocassion, Cmde PR Hari, IN (Retd.), CMD, 91���� said, ‘91���� has a long association with Ramakrishna Math and we are proud to be executing some of these noble projects. I am confident that in the coming years our association will only grow from strength to strength.’

This significant CSR initiative aims to providing Job-oriented Skill Development Programmes to unemployed youth from the underprivileged society. This six-month training program will also serve in helping the unemployed youth to develop and update their skill towards securing a better livelihood.

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PRESS RELEASE

Performance Review of 1st Quarter Ended 30th June 2022

Kolkata, 11th Aug, 2022: Garden Reach Shipbuilders & Engineers Limited (91����), one of the leading warship builders in the country have announced the Company’s financial results for the first quarter ended 30th June, 2022. Following the highest ever revenues reported in the last financial year, the Company has reported stellar quarterly results for Q1 of FY 23.

Q1 FY 23 Compared with Q1 FY 22:

• The Total Income stood at Rs.621 Crore in Quarter ended June 30th, 2022 as against Rs 344 Crore in Quarter ended June 30th, 2021 with an increase of Rs. 277 Crore, and registered a growth of 81%.
• Revenues from operations for the Quarter ended June 30th, 2022 stood at Rs. 580 Crore as compared to Rs 304 Crore in Quarter ended June 30th, 2021, increased by Rs. 276 Crore and registered a growth of 91%.
• The Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) stands at Rs. 74 Crore in Quarter ended June 30th, 2022 as against Rs 42 Crore in Quarter ended June 30th, 2021, registering growth of 76% & The Company’s EBITDA margin stood at 13%.
• Profit Before Tax (PBT) stood at Rs 64 Crore for Quarter ended June 30th, 2022 as compared toRs 26 Crore in Quarter ended June 30th, 2021 and registered a growth of 146%.
• Profit After Tax (PAT) stood Rs.50 Crore in Quarter ended June 30th, 2022 as against Rs 21 Crore in Quarter ended June 30th, 2021.and registered growth of 138%.
• Earnings per share (EPS) for the Quarter ended June 30th, 2022 stood at Rs 4.38 compared to Rs 1.80 in Quarter ended June 30th, 2021.

Q1 FY23 Compared with Q4 FY22:

• The Total income is Rs. 621 Crore in Q1 FY23 as against Rs.586 Crore in Q4 FY22 increased by Rs 36 Crore with an increase of 6.15%.
• Revenue from Operation stood at Rs. 580 Crore in Q1 FY23 as against Rs.544 Crore in Q4 FY22 increased by Rs 34 Crore and registered growth of 6.61%.
• Profit Before Tax (PBT) stood at Rs 64 Crore in Q1 FY23 as compared to Rs 63 Crore in Q4 FY22.
• Profit After Tax (PAT) stood at Rs 50 Crore in Q1 FY23 as compared to Rs 44 Crore in Q4 FY22.
• Earnings per share (EPS) in Q1 FY23 stood at Rs 4.38 compared to Rs 4.12 in Q4 FY22.

Commenting on the results, Cmde Hari PR, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “FY 23 has started on a very buoyant note for 91���� with the shipyard recording the highest ever revenues during Q1. As far as the project milestones are concerned, four (4) Warships were Launched during Q1, including the 2 nd Ship of the Prestigious P17A Project on 15 Jul 22 by the Hon’ble Raksha Mantri. In our endeavour to introduce ‘Green Technology’ in Shipbuilding, we have signed a contract with the West Bengal Govt for Construction of ‘Next Generation Electric Ferry’ and I believe that once delivered, this vessel will be a game changer for Inland Water Transport in India and also have good export potential. Towards improving operational efficiency, we have introduced an AI enabled “Intelligent Weld Inspector” to expedite the structural welding inspection process. Looking forward, we are confident of achieving the planned project milestones on time.”

PRESS RELEASE

91���� Observes Har Ghar Tiranga Utsav

Kolkata, 08 August 22: Garden Reach Shipbuilders and Engineers Ltd., (91����), a Mini Ratna Category 1 Defence PSU and leading warship building company in India initiated their “Har Ghar Tiranga” program today under the aegis of Azadi ka Amrit Mahotsav. The celebrations started with the inaugural address by Dr. Dhrubajyoti Chattopadhyay, Vice Chancellor of Sister Nivedita University, followed by the distribution of national flags by the dignitaries to the students of the university. The dignitaries present on the occasion included Shri RK Dash, Director of Finance, 91����, and eminent personality Ms. Rituparna Sengupta.

In his address, Prof Dhrubajyoti Chattopadhyaya said “Our relationship with the flag has always been more formal and instituitional than personal. Bringing the flag home collectively as a nation in the 75th year of Independence thus becomes symbolic of not only an act of personal connection to the Tiranga but also an embodiment of our commitment to nation building which the Garden Reach Shipbuilders & Engineers Ltd is performing for many years. The idea behind this initiative is to invoke the feeling of patriotism in the hearts of the people and to promote the awareness about the Indian national flag”.

Speaking on the occassion, Shri RK Dash said, “Har Ghar Tiranga” is a campaign under the aegis of Azadi Ka Amrit Mahotsav to encourage people to bring the Tiranga home and to hoist it in their homes to mark the 75th year of India’s Independence. This awareness program by 91���� is also an embodiment of our commitment to nation-building.�� Garden Reach Shipbuilders & Limited is the only shipyard which has given more than 100 ships to the Indian Navy and Indian Coast Guard.

Extending this campaign towards every citizen of Kolkata, 91���� is set to observe a week-long celebration beginning today and shall include distribution of the National Flags to all
employees on 10 Aug 22, Swachtta Abhiyan at Victorial Memorial on 13 Aug 22, a ‘Quiz’ on India’s freedom struggle and flag hoisting at the residences of personnel to mark the 75th year of Indian Independence. Har Ghar Tiranga Utsav concludes with hoisting the Tricolour on Independence Day at all units of 91����.

Har Ghar Tiranga is an initiative under the aegis of Aazadi Ka Amrit Mahotsav to bring out apersonal connection for the Tricolor amongst every Indian. The campaign implores every Indian to hoist the Tricolor at their own homes from 13-15 August.

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PRESS RELEASE

91���� built Advanced Frigate “DUNAGIRI” launched��by Hon’ble Raksha Mantri Shri Rajnath Singh

Kolkata, 15 July 2022: Garden Reach Shipbuilders and Engineers Ltd (91����) accomplished a key milestone in the prestigious Project 17A today, with the launch of “Dunagiri” (Yard 3023) the second of 91����’s three Advanced Frigates, by Shri Rajnath Singh, Hon’ble Minister of Defence, Government of India, the Chief Guest on the occasion. Upholding the best of maritime traditions, the ‘Naming Ceremony’ of the ship was performed by Smt Kala Hari Kumar, wife of Admiral��R Hari Kumar��the Chief of Naval Staff, Indian Navy. Admiral R Hari Kumar, the Chief Of Naval Staff, Vice Admiral Biswajit Dasgupta, FOC-in-C Eastern Naval Command, Lt Gen RP Kalita GOC-in-C East, Cmde PR Hari, IN (Retd.), Chairman and Managing Director, 91����, and other Senior Officials of Indian Armed Forces, 91���� and a host of other dignitaries were present at the occasion.

The Launch symbolises the ship’s birth as she makes her first contact with water. The ceremony was conducted in true maritime Indian traditions with the application of vermillion, breaking of coconut on the ship’s bow and chanting of Vedic mantras followed by the ship being floated out of her building dock.

With a value of around rupees nineteen thousand two hundred crores (Rs.19200+ crores) the contract for building three Frigates under Project 17A is the largest order ever won by 91����. The first ship of the series, “INS Himgiri” was launched in 14 Dec 20, and is presently undergoing the ‘outfitting’ phase.��

With a length of 149 metres, a displacement of over 6670 T, and a cutting-edge CODOG Propulsion system that allows for speeds of over 28 knots, P17A ships will be the most modern, cutting-edge Guided Missile Frigates in the Indian Navy’s fleet. These sophisticated weapon platforms are equipped with a powerful weapon & sensor package capable of neutralising threats in all three dimensions – Air, Surface & Sub-surface. To improve quality and shorten build times, P17A Advanced Frigates are being constructed using an Integrated Construction Methodology and improved pre-outfitting. M/s Fincantieri, an Italian company, is the project’s know-how provider for technology upgrades and capability enhancement. Another distinctive feature of Project 17A is that construction is being carried out by 91���� simultaneously with MDL, based on the basic design created by the Directorate of Naval Design, Indian Navy. An intelligent PDM PLM system is also being implemented to manage the project and aid in its life cycle management.

Hon’ble Raksha Mantri mentioned that launching of ‘Dunagiri’ is a significant milestone in the journey of 91����’s growth story and that today’s launch demonstrates the foresightedness of Indian Navy and untiring efforts of 91����’s workforce. The Hon’ble Raksha Mantri also stated that the construction of this highly sophisticated platform displays the indigenous design strength of Indian Navy, Indian Shipyards, ancillary industries and MSMEs. The Raksha Mantri also applauded 91����’s fight against Covid and continuing with the construction of the ship irrespective of the challenging situation at hand.��

Speaking on the occasion, Admiral R Hari Kumar termed 91���� a close and valued partner for the Indian Navy for many decades. He mentioned that the shipyard has grown significantly over the years and has a good track record in building complex ships. He also mentioned that this aspect was underscored with the launch of Himgiri in Dec 20, followed by today’s launch, within a short period of just 18 months.

Cmde PR Hari IN, (Retd) during his speech on this historic occasion said, “It is a proud moment for us, as we launch “Dunagiri” the second of our three Frigates and take the shipyard into the league of building capital stealth ships for the nation. Having built and delivered 107 warships, 91���� is proud to be a part of this growth story of nation towards Atmanirbharta. Out of 107 ships, 70 have been built for the Indian Navy and with 15 ships presently under construction and few more orders on the anvil. The shipyard is confident of delivering a century of Warships for the Indian Navy during this decade itself.”

As part of the Make in India initiatives of Ministry of Defence through indigenisation efforts, 91���� has made commendable progress by successfully incorporating a high percentage of indigenous content into the ships. INS Kamorta and INS Kadmatt, the First Two of Class of 4 ASW Corvettes built by 91����, became the first warships built in the country with indigenously developed warship grade steel-DMR 249A. These Ships and the Eight Landing Crafts built by 91���� for the Indian Navy, have the distinction of achieving over 90% Indigenous Equipment Fit and hence a major step towards attaining Self Reliance in State-of-the-Art Warship Design and Construction.��

Since the takeover by the Government of India in 1960, 91���� has produced a wide variety of potent warships, including Frigates, Missile & ASW Corvettes, Landing Ship Tanks, LCUs, Fast Patrol Vessels, and Fleet tankers. Leveraging its modern infrastructure facilities, 91���� can now build multiple warships by employing advanced modular integrated shipbuilding technology, which is on par with the best global practices. The shipyard is now capable of producing 20 warships simultaneously and is ably poised to meet the future warship requirements of Indian Navy and Indian Coast Guard such as Next Generation Corvettes, Frigates and Patrol Vessels.

91���� is presently executing an order book of approximately Rs. 24100 crore (31 Mar 22) and working on two other significant projects for the Indian Navy – development of the 04 Survey Vessel Large ships and the 08 ASW SWC ships, thus, constructing 15 Navy warships. The Shipyard also bagged two orders for export vide International Competitive Bidding viz 01 Ocean Going Passenger and Cargo Vessel for Guyana and 06 Patrol Boats for Bangladesh and is exploring new projects in Friendly Foreign Countries.��

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PRESS RELEASE

91���� Celebrates��Azadi Ka Amrit Mahotsav with 100 Tree Plantation Drive

Kolkata,��23 Jun��22: Garden Reach Shipbuilders and Engineers Ltd. (91����), a Mini Ratna Category 1 Defence PSU and a leading warship-building company of India,commemorated Azadi Ka Amrit Mahosav (AKAM) celebration with 100 tree sapling plantation drive on 10 & 11 Jun 22 apart from participating in GoI’s flagship AKAM event at Gandhinagar from 06-12 Jun 22 and observing India@75 Phase VI through multiple Webinars from 17 -23Jun 22.

As part of DPE’s Iconic Week AKAM celebration, 91���� organised the 100 saplings plantation drive across all units taking forward the commitment to conserve and preserve environment.

Participating in��GoI’s flagship ‘AKAM MEGA SHOW’ Exhibition-“Nation Building & CPSEs” at Gandhinagar, Gujarat, 91���� provided a first-hand glimpse of 91����’s shipbuilding operations, indigenous capabilities, and various classes of ships delivered to Indian Navy, Indian Coast Guard and friendly foreign countries along with 91����’s contributions to the nation’s self-reliance capabilities in shipbuilding and allied areas and shipyard’s engagement with the people of the country.

The week-long celebration of India@75 Phase VI from 17-23 Jun 22 was organised to create awareness of latest sectorial development amongst MSME vendors, stakeholders and employeesand highlight 91����’s self-reliance efforts in the domain.Online sessions were organised on“Spot Registration of MSME Women Entrepreneur & IDM Registration” on 17 Jun 22, “Global Supply Chain During International Crisis”&“Advancement in Portable Steel Bridges” on 20 Jun 22, “Session with SIDB/KPMG for MSME Vendor Support” on 21 Jun 22, “Green Energy for Inland Water Transportation in India” on 22 Jun 22and“Spot Registration of MSME SC/ST Entrepreneur & IDM Registration” on 23 Jun 22.

The previous five phases of India@75 celebration were successfully organized by 91���� from 23-28 Apr 21, 16-22 Jul 21, 08-14 Oct 21, 31 Dec 21 to 06 Jan 22&25 -31 Mar 22. 91���� shall continue to celebrate India@75 in the coming months till Oct 2023 taking forward the Indigenization initiative.

91���� also observed the 8th International Yoga Day (IDY)across all units on 21 Jun 22. During the month-long celebration (19 May 22-21 Jun 22) of IDY, 91���� organised Yoga Seminar and Yoga session, Yoga & Essay Competitions for all the employees.��

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PRESS RELEASE

91���� Achieves Rare Feat by Laying Keels of Three Ships Concurrently

Kolkata (June 17, 2022): Garden Reach Shipbuilders and Engineers (91����) Ltd achieved a rare feat by laying the keels of three vessels together. While Yard 3028 is the fourth and last in the series of Sandhayak Class Survey Vessel (Large), Yards 3030 and 3031 are the third and fourth in a series of eight Anti-Submarine Warfare (ASW) Shallow Water Craft being built by 91���� for the Indian Navy. Vice Admiral S N Ghormade, Vice Chief of Naval Staff, PVSM, AVSM, NM, ADC was the chief guest at the occasion.

The keel of a ship runs from its stem to stern and is considered the vessel’s spine. It is only after the keel is laid, that work on a ship starts and her hull takes shape. In olden days, a strong timber beam would be placed on the blocks on which the ship was to be built. As work progressed, parts of the hull would be attached to this beam or keel and the ship would take place. Modern day shipbuilding involves lowering of the entire keel block to which other sections are joined to integrate the ship.

The laying of three keels together portrays 91����’s capability to work on ships of different classes concurrently. A Survey Vessel (Large), two of which have already been launched by 91����, is used by the Indian Navy for hydrographic survey and charting of the ocean floor. Such ships are also used to study the entry point to harbours and allow naval vessels adequate clearance during their approach. The ASW Shallow Water Crafts on the other hand are potent Anti-Submarine platforms bustling with weapons, Sonar and Sensors to detect and neutralize any underwater threat in Indian territory. The vessels of both the projects are being built to IRS Class Rules.

Vice Admiral Ghormade, was happy to note that this is the first time ever that the keel laying is being undertaken for three Indian Navy Warships concurrently. This proves enhanced production capabilities of our shipyards & reassures the nation that we are on right path of ‘Atmanirbharta’. He also congratulated 91���� for collaborating with M/s L&T in a Public Private Partnership (PPP) which will pave the way towards enhanced warship construction capabilities of the nation in times to come.

Speaking at the occasion, Cmde P R Hari, IN (retd), Chairman and Managing Director, 91����, talked about how the premier defence shipyard is gearing up to meet the challenge and deliver state-of-the-art ships, with very high indigenous content, to the Indian Navy and Indian Coast Guard. He spoke about how 91���� is leveraging own technical expertise in ‘Warship Design’ and ‘Supply Chain Management’ coupled with the spare capacity of capable private partner shipyards to simultaneously work on 23 platforms.��91���� is constantly evolving through adoption of latest technology and keeping abreast with modern shipbuilding methods. The shipyard has been successful in bagging orders by participating in competitive bidding and shall continue to meet the demands of the Indian Navy and Indian Coast Guard by designing and building state-of-the-art future ready platforms.

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PRESS RELEASE

Another Milestone in Defence Export : 91���� Launches��Ocean Going Passenger and Cargo Ferry Vessel for the Cooperative Republic of Guyana

Kolkata (June 15, 2022): Mrs Joan Anita Edghill performed the rituals associated with the launch of the 70 metre long Ocean Going Passenger and Cargo Ferry Vessel “MV Ma Lisha” being built by Garden Reach Shipbuilders and Engineers (91����) Ltd for the Cooperative Republic of Guyana, on 15 Jun 2022. Mrs Edghill appeared well at ease as she performed the traditional “breaking of coconut” on the vessel’s keel with chanting of mantras in the background.

Mrs Joan Edghill is the spouse of Hon’ble Bishop Juan Anthony Edghill, Minister of Public Works, the Cooperative Republic of Guyana, who was the Chief Guest at the launch ceremony. With this launching, yet another feather was added to 91����’s cap, as it became the first shipyard in India to have designed and launched a ship for the Co-operative Republic of Guyana, a Latin American Country.��

The other dignitaries present at the occasion were Cmde P R Hari IN (Retd), Chairman and Managing Director, 91����, Mr. Charrandass Persaud, the Hon’ble High Commissioner of Cooperative Republic of Guyana, Shri R K Dash, Director (Finance), Cdr S Bose, IN (Retd), Director (Shipbuilding), Ms Rosalinda Rasul, Chairperson, Transport and Harbours Department Board of the Cooperative Republic of Guyana, Mr. Patrick Thompson, Chief Transport Planning Officer, Ministry of Public Works, Guyana and senior officials from Indian Armed Forces, 91���� and M/s TWL.

91���� participated in the Ferry’s Tender Process, bagging the US$ 12.73 million contract through competitive bidding. The Government of India stepped in to fund the vessel through a grant and a line of credit to the Cooperative Republic of Guyana. 91���� signed the contract on January 13, 2021 and despite challenges posed by pandemic, has succeeded in launching this ferry in less than seven months after its keel was laid.

In his address, Cmde P R Hari IN (Retd), Chairman and Managing Director, 91����, acknowledged the role of the Indian High Commission in Guyana for ensuring fructification of this prestigious project. He went on to explain how this ship, propelled by two diesel engines will be able to accommodate 294 passengers (including a 14 crew members), 14 cars, 2 trucks, 14 containers and other cargo and transport them at speeds up to 15 knots. For 91���� it has been a labour of love to build this vessel, given the fact that over 40% of the population in the Cooperative Republic of Guyana are of Indian origin. Some of the workmen who are helping in building the vessel may even belong to villages in Bihar and Uttar Pradesh from where people migrated to Guyana.��Whilst complimenting the team for achieving the ‘launch’ milestone ahead of schedule, he expressed confidence that the ship shall be delivered on schedule to meet the expectations of the people of Guyana and will foster friendship and cooperation between the two countries.

Bishop Edghill, surprised the audience as he commenced his address by greeting the audience in ‘Bhojpuri’ and highlighted the similarities between people of India and Guyana! He also highlighted that both countries were a land of many rivers and spoke on the importance of this vessel in his country’s northwest sector that has a lot of movement along riverine and coastal routes. He stated that the name “Ma Lisha” means friendship and has been chosen to symbolise the great bonds of friendship between Guyana and India. MV Ma Lisha, once completed and delivered will be the largest of all vessels operating there. Its speed will also cut down the travel time by half.��He acknowledged the efforts of 91���� in progressing ship production during the tough pandemic times towards achieving this major milestone.

The minister also spoke on how May 5th, the day when the SS Whitby docked at Highbury, is still celebrated as Indian Arrival Day at Guyana. He spoke on how people of Indian origin have adopted the country as their own and worked towards its development, whilst continuing to hold on to their culture and beliefs. Festivals like Diwali and Holi are public holidays in Guyana.

Both Cmde Hari and Bishop Edghill said that this collaboration would herald in better ties between the two nations.��

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PRESS RELEASE

Commodore PR Hari, IN (Retd.) takes over as Chairman & Managing Director of Garden Reach Shipbuilders & Engineers Ltd

Kolkata, 10 Jun 22: Commodore P R Hari, IN (Retd), took over as Chairman & Managing Director, Garden Reach Shipbuilders & Engineers (91����) Ltd on 10 Jun 22. He has a vast experience of over 32 years in warship operations, maintenance, design and shipbuilding.��He has been in charge of Production Planning of all the new construction ships built at the Shipyard since 2016 and assumed charge as Director (Personnel) of the Company on 21 Oct 19 and headed the Human Resources, Corporate Planning and Technical functions of 91���� including ERP and Yard Modernisation.

Cmde Hari served for over 28 years in the Indian Navy where he has served in Senior appointments onboard Warships and at Naval Repair Organisations. He also held important Staff Appointments and also steered the Indigenous Aircraft Carrier project as Warship Production Superintendent, Kochi.��He holds a��Bachelor’s Degree in Mechanical Engineering and a Master’s in Defence & Strategic Studies. An alumnus of the Defence Services Staff College, Wellington, the officer also underwent the 5th��Higher Defence Orientation Course at the Army War College, Mhow and the prestigious��Naval Higher Command Course��at Naval War College, Goa. Cmde Hari is a keen sportsman, a voracious reader, and an extempore speaker��who occasionally pens his thoughts.

Cmde Hari has a vision to take 91���� to the next level of existence by inducting latest technology such as Artificial Intelligence in operations and adopting transformational changes in human resource management. He is an inspiring force, leading his entire workforce towards timely execution of ongoing projects and execution of the robust order book whilst looking ahead and participating in competitive tendering processes towards bagging orders for modern warships. His aim is to create competitive advantage through creation of modern infrastructure and technical collaborations for building modern warships.

91���� with the unique experience of building the�� ‘Kamorta’ Class Anti-Submarine Warfare Corvettes and the ‘Kora’ class guided missile corvettes will certainly be a key contender to clinch orders for the Indian Navy’s Next Generation Corvette (NGC) announced recently by the Defence Ministry and his astute leadership could prove to be the game changer.��

PRESS RELEASE

Commander Shantanu Bose, IN (Retd.) takes over as Director (Shipbuilding) of Garden Reach Shipbuilders & Engineers Ltd

Kolkata, 08 Jun 22: Commander Shantanu Bose, IN (Retd.), took over as Director (Shipbuilding) of Garden Reach Shipbuilders & Engineers (91����) Ltd on June 8, 2022. Cdr S Bose is a highly qualified and experienced naval architect who has been in charge of several projects undertaken by 91���� since 2013. Before taking charge as Director (Shipbuilding), he was General Manager (MW) and (P17A) and Project Superintendent of Project 17A of the Indian Navy under which three advanced guided missile stealth frigates are being built by the company in Kolkata.

Cdr Bose completed his B.Tech in Naval Architecture and Shipbuilding from Cochin University before going in for higher studies at IIT Delhi. He also holds a Post Graduate Diploma in Management. Between 2009 and 2013, he was Officer-in-Charge of the Navy Shipwright School INS Vishwakarma in Visakhapatnam. During this period, he trained officers and sailors of the Indian Navy as well as foreign navies in naval architecture while carrying out coordination and planning.

From INS Vishwakarma, Cdr Bose moved to 91���� as Deputy General Manager. He was then hull in-charge of Project 28 ships at 91����’s Fitting Out Jetty (FOJ) and responsible for the successful delivery of Anti-Submarine Warfare Corvettes INS Kamorta and INS Kadmatt. During this period, he was recipient of the 91���� Shree for Outstanding Performance. In 2016, he was elevated to the position of Additional General Manager and took charge of the Hull & CAD in Central Design Office.��

He was the lead designer for the Survey Vessels (Large), four of which are now being built by 91����. He was responsible for monitoring, coordination and control. Cdr Bose’s elevation to this important position comes at a time when 91���� is building three classes of advanced ships for the Indian Navy, from large frigates to comparatively smaller shallow water craft. He holds membership of the Institution of Engineering (India) and Institution of Naval Architecture and is a chartered Engineer.

PRESS RELEASE
91���� Launches 2nd Survey Vessel (Large) within six months after 1st Vessel

26 May 2022 : Survey Vessel (Large) – Yard No 3026 – being built by Garden Reach Shipbuilders and Engineers (91����) Ltd, was launched by Smt Sarbani Dasgupta, wife of Vice Admiral Biswajit Dasgupta, AVSM, YSM, VSM, Flag Officer Commanding-in-Chief, Eastern Naval Command on 26 May 2022. Vice Admiral Biswajit Dasgupta was the Chief Guest at the occasion. This is the second vessel in a series of four such ships being built by 91���� for the Indian Navy to be launched in less than six months. The first ship, INS Sandhayak, was launched in Kolkata on December 5, 2021.

Among the others present at the ceremony were Vice Admiral Kiran Deshmukh, AVSM, VSM, Controller of Warship Production & Acquisition, Vice Admiral Adhir Arora, NM, Chief Hydrographer, Cmde P R Hari IN (Retd), Chairman and Managing Director (Officiating) 91����, Shri R K Dash, Director (Finance), 91����, other Senior Officials of 91����, L&T and Indian Armed Forces

91���� has a vast experience in building Survey Ships for the Indian Navy. In the 80s, a series of six hydrographic survey vessels were delivered by 91���� to the Indian Navy. The first of them was named INS Sandhayak. After serving for 40 years, the Ship was decommissioned in 2021, a few months before the new INS Sandhayak was reborn in Kolkata in Dec 21. The launch of INS Nirdeshak now signals the rebirth of ex-INS Nirdeshak, another Survey Ship of the Sandhayak Class built by 91���� in 1983 and later decommissioned in 2014 after 31 years of glorious service.

The latest series of Survey Vessels (Large) being built by 91���� are far more advanced as compared to the earlier series of survey ships in the Indian Navy’s fleet. These modern, indigenously developed 110-metres long and 16-metres wide ships have a displacement of nearly 3,400 tonnes and can attain a top speed of 18 knots with an endurance of 6,500 nautical miles.

Congratulating 91���� on the achievement, Vice Admiral Dasgupta acknowledged that a large number of ships of the Eastern Fleet are being built by 91����. He said, “The newer ship ‘Nirdeshak’ will be more capable, larger, modern, state-of-the-art with advanced propulsion and maneuvering and will be able to operate autonomous and remotely operated systems. The ship’s ability to perform full spectrum of hydrographic and oceanographic operations of the Indian Navy will make us even more potent and foreign navies are looking to the Indian Navy for the hydrographic co-operation. The vessel has achieved 80% of Indigenization by cost which is a significant achievement for Indian shipbuilding.” Applauding the efforts of the Indian shipyards, he highlighted the tremendous shipbuilding opportunities ahead with 31 ships to be constructed in the coming years by the Indian Navy and expressed hope that the near future will see Indian shipbuilding industry making serious inroads in obtaining a much larger share in the global shipbuilding.

In his speech during the ceremony Cmde P R Hari IN (Retd) highlighted the capability of these ships and acknowledged the contribution from all stakeholders including industry partners in achieving the major milestone with 45% physical progress. These ships are capable of full scale coastal and deep-water hydrographic survey of port and harbour approaches and determination of navigation channels and routes. They can also carry out survey of maritime limits and collect oceanographic and geographic data for defence applications. These ships are propelled by two marine diesel engines combined with fixed pitch propellers, and are fitted with bow and stern thrusters for maneuvering at low speeds while carrying out surveys.

In order to ensure swift delivery of quality, 91���� has now enhanced its capacity through tie-ups with capable Private Shipyards under the Public Private Partnership (PPP) mode for part construction of ships. Further, these ships are now being built using the ‘Integrated Construction’ concept through which maximum pre-outfitting is being carried out at the block stage itself.��

91���� is the only shipyard in the country to have built and delivered 105 warships to the Indian Navy and Indian Coast Guard. Two warships built by this shipyard were also exported by the Government of India to Mauritius and the Seychelles. At the moment, 91���� is working on 23 ships. Seven of these are for foreign orders. This Defence PSU has also been bagging orders through competitive bidding. Among the larger ships that 91���� is working on now are the Stealth Frigates under the Indian Navy’s Project 17A. The shipyard is also building Anti-Submarine Warfare Shallow Water Craft for the Indian Navy. In keeping with the Atmanirbhar Bharat theme, 91���� has achieved nearly 90% indigenization, even for large ships.

PRESS RELEASE
Performance Review Q4 & Year ended FY22

25 May 2022 : Garden Reach Shipbuilders & Engineers Limited (91����), one of the premier warship builders of our nation, have announced the Company’s financial results for the last quarter and fiscal year ended 31st March 2022. The Defence PSU has achieved a turnover of Rs 1758 crore registering a growth of 54 percent over the turnover achieved during the previous FY 2020-21. The company has earned an operating profit of Rs 104 crore for FY 2021-22

Year ended FY22 Compared with Year ended FY21:

• The Total Income stood at Rs.1918 crore in Year ended 31st March 2022 as against Rs 1327 crore in Year ended 31st March 2021, an increase of Rs. 591 crore and registering growth of 45 %.
• Revenue from operations for the Year ended 31st March 2022 stood at Rs. 1758 crore as compared to Rs 1141 crore in Year ended 31st March 2021, an increase of Rs. 617 crore and registering growth of 54%.
• The Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) stands at Rs. 294 crore in Year ended 31st March 2022 as against Rs 237 crore in Year ended 31st March 2021, thus registering a growth of 24%. The Company’s EBITDA margin stood at 15%.
• Profit Before Tax (PBT) stood at Rs 257 crore for Year ended 31st March 2022 as compared to Rs 207 crore in Year ended 31st March 2021, registering a growth of 24%. The Company’s PBT margin stood at 13%.
• Profit After Tax (PAT) stood at Rs.190 crore in Year ended 31st March 2022 as against Rs 153 crore in Year ended 31st March 2021, registering a growth of 24%. The Company’s PAT margin stood at 10%.
• Earnings per share (EPS) for the Year ended 31st March 2022 stood at Rs 16.55 compared to Rs 13.40 in Year ended 31st March 2021.

Q4 FY22 Compared with Q4 FY21:

• Revenue from operation is Rs. 545 crore in Q4 FY22 as against Rs.399 crore in Q4 FY21, an increase of Rs 146 crore and registering growth of 37%.
• The Total income stood at Rs. 585 crore in Q4 FY22 as against Rs.448 crore in Q4 FY21, an increase of Rs 137 crore and registering growth of 31%.

Q4 FY22 Compared with Q3 FY22:

• Revenue from operation is Rs. 545 crore in Q4 FY22 as against Rs.487 crore of Q3 FY22, an increase of Rs 58 crore and registering growth of 12%
• The Total income stood at Rs. 585 crore in Q4 FY22 as against Rs.531 crore of Q3 FY22, an increased of Rs 54 crore and registering growth of 10%.

Commenting on the results, Cmde P R Hari IN (Retd), Chairman and Managing Director (Officiating), 91����, said, “FY22 has been a fantastic year in terms of financial performance with us recording the highest ever turnover and operating profit in the history of the company. We have effectively managed the challenges posed by the Covid-19 pandemic especially during the first half of the year and achieved major shipbuilding projects milestones including ‘Launch of one Survey Vessel’ and ‘Laying of Keel of 05 Vessels’. We have also signed an MoU with DGBR for 27 Bailey type Portable Steel Bridges and a Concessional Agreement with Shyama Prasad Mookerjee Port (SMP) for long term lease of three dry docks. With a healthy order book of Rs 24,130 crore as on 31 March 22 and a very clear project execution strategy, the company is on an accelerated growth trajectory and we are confident of meeting our customer expectations. Our focus, in addition to domestic warship building is on exports, ship repairs, product diversification with thrust on ‘green energy platforms’, ‘R&D’ and digitalization in the entire spectrum of operations.”

PRESS RELEASE
91���� Launches Fast Patrol Vessel, ICGS Kamla Devi (Yard 2118)

Records 60% Work Completion on the Launch Day

02 May 2022 :��Garden Reach Shipbuilders & Engineers (91����) Ltd that has built and delivered over 100 ships to the Indian Navy and Indian Coast Guard and the 1st shipyard in the country to have exported a warship, has achieved another milestone by launching the Fast Patrol Vessel (91���� Yard 2118) being built for the Indian Coast Guard (ICG). Today, the FPV was christened Indian Coast Guard Ship (ICGS) “Kamla Devi” by Smt. Neela Pathania, wife of DG Virender Singh Pathania, PTM, TM, Director General, Indian Coast Guard. DG Virender Singh Pathania graced the occasion as the Chief Guest. Also present during the launching ceremony were Cmde PR Hari, Chairman and Managing Director (Officiating), 91����, Shri RK Dash, Director Finance 91����, IG Maneesh Vishal Pathak COMCG (NE) and IG DR Sharma DDG(M&M) and Senior officials of 91���� and M/s TWL.

This ship has an interesting history as originally, ‘Kamla Devi’ was scheduled to be the fourth ship in the series of five such FPVs that 91���� was contracted to build for the ICG and now she is the last in the series. 91���� has already completed construction of five ships of this series well within schedule. However, the 4th in the series was exported to the Republic of Seychelles as the ‘SCG PS Zoroaster’ by the Government of India in 2021.

Incidentally, ICGS Kamladevi is named after social reformer and freedom activist ‘Kamladevi Chattopadhyay’ who worked towards the upliftment of artisans and craftsmen across the country and development of the performing arts. She also worked for the socio-economic upliftment of women in India and was awarded the Padma Bhushan, the Padma Vibhushan and the Ramon Magsaysay Award.

This ship’s launch is well ahead of schedule with ‘Start Production’, the first key milestone of this ship being achieved on 15 Mar 21, followed by the Keel Laying on 15 Jul 21, exactly four months thereafter. A noteworthy progress of more than 60% on this FPV has been achieved by 91���� at the launching stage. 91���� has proven expertise in design & construction of Patrol Vessels having delivered over 40 Patrol Ships to Indian Navy and Indian Coast Guard since 1960.The entire design of these FPV ships have been developed in-house by 91���� as per requirements specified by Indian Coast Guard. These ships are 48.9M long & 7.5M wide with a displacement of around 308 Tons and are designed for a maximum speed of 34 knots with an endurance of more than 1500 nautical miles. These ships are equipped with 03 nos Main Engines with advanced control systems, Water Jet units and an ‘Integrated Bridge System’ integrating all Communication and Navigation Systems. These ships are also fitted with 40/60 Gun as main armament and will also have improved habitability features with fully air-conditioned modular accommodation for 35 personnel. These ships are used for anti-smuggling, anti-poaching and rescue operations at sea.

The Chief Guest DG Virender Singh Pathania acknowledged the long association of 91���� with the Indian Coast Guard. He appreciated the technological advancements made by 91���� in recent times and expressed his confidence that future of shipbuilding is in safe hands.

Speaking on the occasion, Cmde PR Hari highlighted that 91����’s association with the Indian Coast Guard goes way back to 1980 having delivered their first vessel, CGS Rajhans, a high-speed Patrol Vessel commissioned in 1981. He also spoke on how 91���� is now building 23 ships and orders for 19, including 7 international vessels, were bagged through competitive bidding. Even during the pandemic, 91���� continued to deliver ships to the Navy and Coast Guard. “91���� in the last 5 years, has delivered 19 warships, and this is a record,” Cmde Hari said.

91���� in a Public Private Partnership (PPP) model with M/s TWL is building this replacement vessel at the latter’s premises. 91����, for long, has been trying to develop a vibrant ecosystem in shipbuilding in the region to boost the economy and generate employment, and this tie-up with TWL is a step towards this.

“The future looks promising for 91����, thanks to our continuous research and innovation, excellent product quality and world class infrastructure. This is backed by strong corporate structure and governance, coupled with competent and experienced human capital and strategic alliances with competent private players. 91���� is also in the final phase of a visioning exercise with a consultancy firm which would enable the shipyard to improve upon its operational efficiency,” the 91���� CMD added.

PRESS RELEASE
91���� Achieves Highest Ever Turnover in FY22

��Kolkata, 02 April 22:��Garden Reach Shipbuilders & Engineers Limited (91����) one of the leading warship builders in the country has recorded the highest ever turnover of Rs 1750 Crore (Provisional & unaudited) for FY 2021-22, reflecting YoY growth of 53%. Despite being a labour intensive industry, the company effectively managed the challenges posed by the COVID 19 pandemic and progressed operations, continuously improving internal efficiencies. 91���� has also declared an interim dividend of Rs. 4.95 per equity share of Rs.10 for FY 21-22 against Rs.3.85 in FY 20-21, reflecting a remarkable increase of 28.57 %. The shipyard is also a zero-debt company and continues to retain the highest credit rating from M/s Brickwork.

The shipyard is presently undertaking concurrent construction of 23 ships for Indian Navy, India Coast Guard, Republic of Guyana & Govt. of Bangladesh viz. 03 P17A Stealth Frigates, 04 Survey Vessels (Large), 08 ASW SWCs, 01 FPV, 06 Patrol Boats & 01 Passenger – Cargo Ferry. 91���� also delivered one Fast patrol Vessel PS Zoroaster to the Government of Seychelles on 08 Apr 21. The company is working on bringing new products for the commercial sector such as hovercrafts and electric ferries

As a major step for infrastructure development, for the first time in India a fully assembled 250 ton state of the art ‘Goliath Crane’ was transported from ship to shore and commissioned successfully at 91���� in Jun 21. Installation of the crane enables construction of larger ships in reduced timeframe using advanced modular construction technology

As a strategic move towards exploring new business opportunities in ship repair & refit of the defence & commercial segment, 91���� signed a Concession Agreement with Syama Prasad Mookerjee Port, Kolkata to develop and operate three dry docks. This is a major step towards revenue generation, skill development, infrastructure upgrade & employment generation in Eastern region of India.

The shipyard also signed strategic MoUs with global shipyards & academia to enhance its shipbuilding prowess. The Bailey Bridge Division of 91���� has developed new improved versions of portable bridge designs through R&D efforts and for the first time, an MoU was signed by 91���� with Border Roads Organisation (BRO) for fabrication, supply, erection and launching of 27 double-lane galvanized modular bridges for difficult terrains across states of the North East.

91���� is thus well poised to take its growth story forward in the years to come.

PRESS RELEASE
91���� Celebrates India@75-Phase V

��Kolkata, 01 April 22:��Garden Reach Shipbuilders and Engineers Ltd. (91����), a Mini Ratna Category 1 Defence PSU and a leading warship-building company of India,�� ��commemorated�� Phase-V of India@75 (Aazadi ka Amrit Mahotsav) celebration through multiple Webinars from 25 -31 Mar 22.

Online sessions on “Vendor Grievance and Vendor Payment” on 25 Mar 22, “Vendor Development towards ANB in association with MSME DI” on 28 Mar 22, “NSIC for�� ��MSE SC/ST Vendor�� Development” on 29 Mar 22 followed by sessions on “Supply Chain Management” on 30 Mar 22 and “Quality Management System” on 31 Mar 22�� ��marked the week-long celebration of India@75 to create awareness of latest sectorial development amongst MSME vendors, stakeholders and employees and highlight�� 91����’s self-reliance efforts.

The previous four phases of India@75 celebration were successfully organized by 91���� from 23-28 Apr 21, 16-22 Jul 21, 08-14 Oct 21 & 31 Dec 21 to 06 Jan 22. 91���� shall continue to�� celebrate India@75 in the coming months till Oct 2023 taking forward the Indigenization initiative.