Rear Admiral Shri
Rajeev Parliker, Chairman and Managing Director, Garden Reach
Shipbuilders and Engineer (GRSE) Ltd presented a dividend cheque
of Rs. 5.09 crore to the Minister of State for Defence Production
& Supplies here today. Secretary Defence Production and Supplies
NS Sisodia was also present on the occasion.
GRSE Ltd, a wholly
owned Government of India Undertaking under the administrative
control of the Department of Defence Production and Supplies in
the Ministry of Defence, has posted a profit of Rs 32.37 crores
in the Financial Year 2001-02. During the year, the Company achieved
production valued (Revenue) at Rs 488.79 crores. The Annual Accounts
for the financial year ended 31st March 2002 were approved
at the 86th Annual General Meeting of the Company held
on 26th September 2002. The Company has paid a dividend
amounting to Rs. 5.09 crores, being 31 per cent of the Profit
After Tax to the Shareholders for the year 2001-02.
GRSE delivered two
Fast Attack Crafts, i.e., INS ‘TARASA’ and ‘TARMUGLI’ and the
third follow-on Corvette, INS KULISH, to the Indian Navy in the
year 2001-02. GRSE also delivered three Hovercrafts to the Indian
Coast Guard during the year. The Shipyard is expected to deliver
a Brahmaputra class Frigate and Kulish class Corvette by mid –
2003 to the Navy. In December 2001 letter of Intent for construction
of three Landing Ship Tanks (Large) was placed on the Shipyard.
These warships are expected to join Indian Navy from mid – 2005
onwards.
To improve productivity
as also to ensure improvements in quality and delivery schedules,
the Company has initiated Modernisation Plans. Introduction of
modern shipbuilding techniques bringing down cost by exercising
adequate financial control and introduction of Voluntary Retirement
Scheme (VRS) to reduce surplus manpower are some of the measures
taken towards this end.
