Overview

• Garden Reach Shipbuilders and Engineers signed a contract with the Geological Survey of India on June 11 to build two Coastal Research Vessels for offshore geological mapping, ocean environment monitoring and mineral exploration.
• Each 64-metre vessel will feature a 12-metre beam, a 450-ton deadweight, a 15-day endurance, a top speed of 10 knots and accommodation for 35 personnel.
• GRSE shares fell 4.15% to close at Rs 3,098.95 on the day of the contract announcement.
• The contract adds two CRVs to a research pipeline that includes a ₹2,600 crore Polar Research Vessel MoU with Norway’s Kongsberg, an Ocean Research Vessel for NCPOR and an Acoustic Research Ship for NPOL under DRDO.
• As a Ministry of Defence shipyard with a 74.5% government stake, GRSE secured a ₹25,000 crore order for next-generation corvettes for the Indian Navy in May.