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Business Today

GRSE secures Rs 1,032.07 crore ONGC contract for four platform supply vessels

AI Market Summary
Garden Reach Shipbuilders & Engineers won a Rs 1,032.07 crore ONGC contract to build four platform supply vessels over 48 months, improving revenue visibility and reinforcing demand for India's defence and offshore-support shipbuilding. The order follows strong Q1 results with sharp profit and revenue growth, though margin slipped modestly. While the stock reaction was slightly negative, the news supports confidence in backlog durability and execution momentum.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT+0.44%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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State-owned shipbuilder Garden Reach Shipbuilders & Engineers Ltd (GRSE) said it has won an ONGC order worth Rs 1,032.07 crore to build four Platform Supply Vessels. The contract adds to a quarter in which GRSE reported a 43.8% year-on-year jump in net profit to Rs 172.8 crore. Revenue from operations rose 38.5% to Rs 1,814.6 crore. EBITDA increased 33.3%.
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