GRSE Wins ₹45.02 Crore Electric Ferry Order; Shares Fall 0.33%

Mumbai, August 24: Garden Reach Shipbuilders & Engineers Limited has received a ₹45.02 crore order from West Bengal Tourism Development Corporation Limited for the procurement of two 100-passenger electric ferries.

According to the company’s exchange disclosure dated August 24, 2026, the order has been awarded by West Bengal Tourism Development Corporation, a domestic entity.

The contract covers the procurement of two 100-passenger electric ferries. The project is to be completed within 18 months from the date of signing of the contract, with the total order value stated at ₹45.02 crore.

GRSE disclosed that neither its promoter, promoter group nor group companies have any interest in the entity that awarded the order. The company also confirmed that the contract does not fall within the related-party transaction category.

The order adds another electric vessel project to GRSE’s disclosed order flow, with the company undertaking the contract for a state tourism entity.

Stock Market Snapshot

GRSE share price closed at ₹2,593.00 on August 24, 2026, down ₹8.50, or 0.33%, according to the market data provided.

The stock began the session on a firmer note, briefly moving above ₹2,650 before losing ground through the morning. It traded largely around the ₹2,620 level during the middle part of the session and slipped below ₹2,600 towards the latter part of the day.

The shares remained under pressure into the close, ending at ₹2,593. The movement came despite the company disclosing the new ₹45.02 crore electric ferry order during the session.

GRSE Expands Electric Vessel Order Pipeline

GRSE is a shipbuilding company with capabilities spanning defence and commercial vessel construction. The latest contract broadens its disclosed project pipeline into electric ferry procurement for the domestic tourism sector.

The order involves two vessels with a stated passenger capacity of 100 each. The 18-month completion timeline gives the company a defined execution schedule once the contract is signed.

For West Bengal Tourism Development Corporation, the order relates specifically to electric ferry procurement, placing the project within the growing use of cleaner propulsion systems for passenger water transport.

Conclusion

The ₹45.02 crore electric ferry order strengthens GRSE’s order pipeline and adds a domestic tourism-sector project to its disclosed contracts.

The stock, however, ended the August 24 session at ₹2,593, down 0.33%, after trading as high as around ₹2,650 earlier in the day. The company has stated that the order is neither a related-party transaction nor connected with any promoter group interest.

Source:

• https://www.nseindia.com/get-quote/equity/GRSE/Garden-Reach-Shipbuilders-&-Engineers-Limited
• https://nsearchives.nseindia.com/corporate/GRSE_24082026131738_Corp_Ann__Receipt_of_Order_from_WBTDCL.pdf