Garden Reach shares rally 6% as PSU signs five MOUs, expands horizons in maritime sector; check details, stock performance

In its press release, GRSE said, "At Bhavnagar’s ‘Samudra Se Samriddhi’ Mission, launched by Hon’ble Prime Minister Shri Narendra Modi on Saturday, September 20, 2025, India’s ambition to emerge among the world’s top five shipbuilding nations by 2047 under the Maritime Amrit Kaal Vision gathered fresh momentum. Garden Reach Shipbuilders & Engineers Ltd. (GRSE) signed a series of Memorandums of Understanding (MoUs) with strategic partners in the shipbuilding, port, and infrastructure sectors."

• Deendayal Port Authority (DPA), Kandla;

• Syama Prasad Mookerjee Port Authority, Kolkata (SMPA);

• Indian Port Rail & Ropeway Corporation Limited (IPRCL);

• The Shipping Corporation of India (SCI); and

• Modest Infrastructure Private Limited (MIPL)

These MoUs create a structured framework for GRSE and its partners to explore and jointly develop projects across multiple domains, newbuild construction (including green/low-emission vessels), ship repair, construction of green tugs as per GTTP specifications, development and maintenance of port infrastructure, jetty and berth development, multimodal logistics and last-mile connectivity, and related civil, rail and ropeway infrastructure for ports and terminals.

The chairman said, "The MoUs signed today represent a concrete step towards creating an ecosystem where shipyards, ports, operators, and infrastructure partners work in unison. With our legacy of delivering world-class warships and our growing foray into commercial shipbuilding, GRSE is fully committed to supporting the Aatmanirbhar Bharat and Maritime Amritkal vision."

The chairman added, "Together with our partners, we aim to build sustainable, green, and globally competitive solutions that will shape the future of Indian shipbuilding."

In a separate development, Garden Reach Shipbuilders & Engineers (GRSE) Ltd signed a contract on Friday, September 19, 2025, with Germany’s Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG in Hamburg, Germany, for the construction of four Hybrid Multi-Purpose Vessels (MPVs) at a total value of $62.44 million.

This agreement represents a natural extension of the successful partnership between GRSE and Carsten Rehder, following the ongoing 7,500 DWT Multi-Purpose Vessel (MPV) project currently under execution in Kolkata.

About GRSE

Garden Reach Shipbuilders & Engineers Ltd., a Defence Public Sector Undertaking, under the administrative control of the Ministry of Defence, and a Schedule ‘A’ Mini Ratna Category I company, started its journey in 1884 as a small workshop to repair vessels of the River Steam Navigation Company.

The company was taken over by the Government of India in 1960. GRSE has the distinction of becoming the first shipyard of independent India to build a warship for the Indian Navy, the Seaward Defence Boat (SDB) INS Ajay, way back in 1961.

GRSE also built the first ever Indian export warship, “CGS Barracuda”, for the Govt. of Mauritius, a fast patrol vessel, “SCG PS Zoroaster”, for Seychelles and an ocean-going cargo & passenger ferry vessel, “MV Ma Lisha”, for the Cooperative Republic of Guyana. GRSE is the only Indian shipbuilder to have four distinct shipyards as a unique infrastructure advantage.

"GRSE has built over 800 platforms, including 114 warships for the Indian Navy, the Indian Coast Guard, and friendly foreign countries – the highest number of warships built & delivered by any Indian shipyard to date," the PSU said in its press release.

GRSE share price trend

Shares of the PSU have rallied around 53% in the past six months (as of the September 19, 2025 closing level on the NSE). On a year-to-date (YTD) basis, the stock has jumped nearly 60%, while over the past 12 months, the stock has gained 45%.