Garden Reach gains on inking MoU with NHIDCL

The said agreement entails the construction and delivery of Class 70R double lane bridges, designed exclusively by the company, to enhance connectivity in critical forward areas along India's borders, facilitating seamless troop and equipment deployment.

Unparalleled in its innovation, the double-lane Steel Bridge developed by the company stands as the sole indigenous solution of its kind, in line with India's Aatmanirbhar Bharat Abhiyan. Under similar MoU signed with border roads organization (BRO), the company has already supplied 44 nos. Bridges Pan 'India.

State-run GRSE is engaged in building warships and other vessels for the Indian Navy and Indian Coast Guard. It has also diversified into engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items and assembly, as well as testing & overhauling of marine diesel engines. As on 30 June 2024, the Government of India holds 74.50% in the company.

On standalone basis, Garden Reach Shipbuilders & Engineers (GRSE) reported 13.71% increase in net profit to Rs 87.19 crore in Q1 FY25 as against Rs 76.68 crore posted in Q1 FY24. Revenue from operations jumped 33.58% year on year (YoY) to Rs 1,009.72 crore in the quarter ended 30 June 2024.