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 government?s '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? Association?s order book, showcasing India?s 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.

Powered by Capital Market - Live News