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Garden Reach Shipbuilders and Engineers (GRSE) Ltd , one of the leading warship builders in the country, has recorded the highest ever turnover of 1,750 crore for FY22, reflecting year-on-year 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," GRSE said in a filing.

GRSE has also declared an interim dividend of 4.95 per equity share for FY22.

The shipyard is also a zero-debt company and continues to retain the highest credit rating from M/s Brickwork.

GRSE is presently undertaking concurrent construction of 23 ships for Indian Navy, India Coast Guard, Republic of Guyana & Govt. of Bangladesh viz. 03 P17 A

Stealth Frigates, 04 Survey Vessels (Large), 08 ASW SWCs, 01 FPV, 06 Patrol Boats & 01 Passenger - Cargo Ferry. GRSE also delivered one Fast patrol Vessel PS Zoroaster to the government of Seychelles on 08 April 21, it said.

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 GRSE in Jun 21.

Installation of the crane enables construction of larger ships in reduced timeframe using advanced modular construction technology, the company said.

As a strategic move towards exploring new business opportunities in ship repair and refit of the defence and commercial segment, GRSE 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 and employment generation in eastern region of India," GRSE said.

The shipyard also signed strategic MoUs with global shipyards and academia to enhance its shipbuilding prowess. The Bailey Bridge Division of GRSE has developed new improved versions of portable bridge designs through R&D efforts and for the first time, an MoU was signed by GRSE 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.

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