Share price of defence and shipbuilding PSU Garden Reach Shipbuilders & Engineers will be in focus as the company’s board approved a budgetary outlay of Rs 2,896 crore for the construction of a shipyard facility in Raichak, West Bengal
GRSE to enhance capacity expansion
The Navratna PSU announced on Monday, post-market hours, that it has approved a budget of Rs 2,896 crore for the development of a greenfield shipyard at Raichak in West Bengal. Through the project, the company aims to enhance its shipbuilding capacity in both naval and commercial segments, it added.
The announcement follows GRSE’s manufacturing infrastructure projects announced in August. The PSU said it will develop three facilities in West Bengal, with a combined investment of Rs 2,670 crore.
Last month, GRSE had said that the project will enable it to build warships up to 200 metres and commercial vessels up to 60,000 DWT (deadweight tonnage).
Additionally, the Kolkata-based company will deploy Rs 100 crore to rejuvenate its Timber pond facility at Shalimar, Howrah, for shipbuilding, repairs, and associated construction work. The smallest project will include an investment of Rs 70 crore at the Damodar facility in Kidderpore for vessel repair and construction of electric ferries and other small craft, the PSU said in its regulatory filing in August.
GRSE Q1 FY27 result
GRSE posted its net profit for Q1 FY27 at nearly Rs 173 crore, up 44% year-on-year from Rs 120 crore reported in the same quarter last year. Its revenue from operations climbed 38% YoY to Rs 1,815 crore against Rs 1,310 crore posted in the year-ago period.
GRSE share price
GRSE’s stock ended Monday’s trade flat on exchanges at Rs 2,372.20. Over the past one month, its stock has declined by more than 9%, while over the past six months its share price has expanded by 5.5%