In terms of Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has signed Contract with Ministry of External Affairs (MEA), Government of India for the 2nd refit of Seychelles Coast Guard Ship PS Zoroaster at a total value of approx. Rs. 33 Crore (excl. GST).The press release in this regard is enclosed.
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Garden Reach Shipbuilders & Engineers (GRSE) has signed a contract with the Ministry of External Affairs (MEA), Government of India, for the second refit of Seychelles Coast Guard Ship PS Zoroaster. The total value of the contract is approximately Rs. 33 Crore, excluding GST. This is a defence-related order for ship repair/refit services for a foreign coast guard vessel, with the contract being facilitated through MEA. GRSE is a leading Indian defence shipbuilder and this adds to its order book in the export/refit segment.
This is a modest order size (~Rs. 33 Crore) and is unlikely to materially move the stock price on its own, but it reinforces GRSE's credentials in the ship refit and export defence segment, which could support long-term business growth.