Garden Reach Shipbuilders Plans to Expand Ship Repair Services

Garden Reach Shipbuilder aims to increase its export component in its orderbook from 4% to 10% within the next year. With a total order book of Rs 23,877 crore, only Rs 970 crore currently comes from exports. The company plans to invest in revitalizing its facilities to attract more export orders, as many European nations are starting to view India as a destination for commercial shipbuilding.

GRSE sees potential for growth in ship repair services, expecting substantial revenue growth in the next 3 to 5 years. While currently generating modest revenue from ship repair, the company foresees doubling this revenue in the near future. The shipyard company has expanded its annual capacity to build 24 ships this year, primarily focusing on naval platforms.

Due to the high demand for shipbuilding, GRSE is considering the possibility of setting up a greenfield shipyard facility over the next 3-5 years. Discussions are ongoing about constructing commercial vessels up to 300 meters in length. The company is preparing for the Request for Proposal for the P-17 Bravo class of frigates, expecting to attract bids worth Rs 40,000 crore for the leading shipyard and Rs 30,000 crore for the second. The management is optimistic about securing this project.

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