Initial Public Offer: Garden Reach Shipbuilders & Engineers - Kotak

- Garden Reach Shipbuilders & Engineers Ltd (GRSE) is a shipbuilding company in India under the administrative control of the Ministry of Defence (MoD) and primarily adhere to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. In addition to ship and warship building capabilities, GRSE is engaged in engineering and engine production activities. As a part of its engineering division, GRSE manufactures deck machinery items, pre-fabricated portable steel bridges and marine pumps. Its shipbuilding division contributes a significant majority of our revenue from operations. The company has derived 94.14%, 90.13%, 92.19% and 94.76% of its gross revenue from operations in FY18, FY17, FY16 and FY15 respectively from shipbuilding division.

- Over years, GRSE has established capabilities for in-house design and shipbuilding and has made considerable contributions to the indigenous warship construction program of the country. Presently, it has three separate facilities for shipbuilding, all of which are located in close vicinity of each other at Kolkata, India. On September 5, 2006, the company was conferred with the status of Schedule B & Mini Ratna-Category I Company by the Department of Public Enterprises under the Ministry of Heavy Industries and Public Enterprises.

Source : Equity Bulls

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