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Budget News

  • Garden Reach Shipbuilders jumps on Rs 3,500-cr order win from MoD
  • March 31,2023  11:15
  • The first vessel is to be delivered within 44 months from contract signing and subsequent vessels at six months intervals.

    The length of the vessels will be 110 metre approximately with displacement around 2,900 tons and maximum speed more than 23 knots.

    The NGOPV should be capable of fulfilling roles such as Seaward Defence, 'Out of Area' Contingency Ops (OOAC), NonCombatant Evacuation Ops (NEO), Convoy Operations/Anti-Piracy Missions, Counter Infiltration Ops, Anti-Poaching/Trafficking, HADR, Search and Rescue Missions, Hospital Ship, Fleet Maintenance Support and COMINT Ship.

    Garden Reach Shipbuilders & Engineers is a premier shipyard of India, under the administrative control of the Ministry of Defence, Government of India. It builds warships for the Indian Navy & Indian Coast Guard. As on 31 December 2022, the Government of India held 74.50% stake in the company.

    The company's net profit rose 1.5% to Rs 63.92 crore on 43.6% jump in revenue from operations to Rs 699.15 crore in Q3 FY23 over Q3 FY22.

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