Garden Reach Shipbuilders & Engineers Ltd.

Incorporated in 1913, Garden Reach Shipbuilders & Engineers Limited is a Mini Ratna-Category I company engaged in shipbuilding company under the administrative control of the MoD.The company primarily adheres to the requirements of the Indian Navy and the Indian Coast Guard. It is also engaged in the engineering and engine production activities and manufactures deck machinery items, pre-fabricated portable steel bridges, and marine pumps.Garden Reach Shipbuilders has three separate facilities for shipbuilding, located at Kolkata, India. The ships are built at the Main Works Unit and the Rajabagan Dockyard. The third facility, is mainly used for fitting out and repair of ships.The Company has many firsts to its credit in the Indian shipbuilding industry. It is the first Indian shipyard to integrate carbon composite superstructure with steel hull for the construction of the third ASW Corvette for the Indian Navy.It is also the first and the only Indian shipyard to build and subsequently deliver a fleet tanker to the Indian Navy and to build and subsequently deliver a hovercraft to the Indian Coast Guard among others.The shipbuilding division contributes majorly to the company's revenue from operations. It has contributed 81.23%, 75.10%, 79.09% and 83.33% of gross revenue from operations in September 30, 2017, Fiscals 2017, 2016and 2015 respectively.Strengths of the Company-1. Strong Order Book of Rs 208,033.60 million as on February 28, 2018.2. Significant advantage over global shipyards in securing contracts due to Make in India initiative.3. Offers diversified products and services in addition to shipbuilding4. Modern infrastructure with integrated shipbuilding capabilitiesThe company has 2,224 full-time employees on its payroll.

Garden Reach Shipbuilders & Engineers Ltd. proposes to utilise the net proceeds from the Issue for the following objects: