Garden Reach edges higher signing MoI, MoUs with various firms in Norway

In a regulatory filing made today, the company said that on 04 June 2025, it has signed a MoI with Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG, Germany, for the construction of four follow-on 7,500 DWT multi-purpose vessels.

These vessels will be built as a continuation of the eight vessels currently under construction at GRSE?s Kolkata shipyard. The follow-on vessels will feature hybrid propulsion systems and comply with the latest cybersecurity standards. The firm contract for these vessels is expected to be finalized by 31 August 2025.

In pursuance of venturing into construction of offshore platforms and vessels, GRSE stated that it has signed a memorandum of understanding (MoU) with Aries marine, a Dubai based, established and independent engineering and design firm for offshore platform and vessel design.

This is to extend worldwide reach of GRSE in the offshore market. This MOU aims to facilitate collaboration on identifying and developing offshore orders for platforms designed by ARIES and built by GRSE.

On the same day, the company has also inked MoU with a global engine manufacturer.

The aforementioned MoI and MoUs were signed during the company?s official delegation visit to Norway.

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.

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