GRSE PAYS Rs. 24.77 CRORE DIVIDEND TO THE GOVERNMENT FOR 2014-15

Defence Minister Manohar Parrikar receiving a dividend cheque of Rs. 24.77 crore from the Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Ltd (GRSE), Kolkata, Rear Admiral (Retd) AK Verma in South Block, New Delhi on Tuesday, December 01, 2015. Also seen in the picture (left of Defence Minister) Secretary (Defence Production) Ashok Kumar Gupta, and Joint Secretary (Naval Systems) BH Khera.

New Delhi

A cheque for Rs 24.77 crore towards Dividend for the Financial Year 2014­15 was handed over to Defence Minister Manohar Parrikar by Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Ltd (GRSE), Kolkata, Rear Admiral (Retd) AK Verma here yesterday. Secretary (Defence Production) Ashok Kumar Gupta, Joint Secretary (Naval Systems) B Harbans lal Khera, and Director (Finance), GRSE, SS Dogra were also present on the occasion.

GRSE, Kolkata, a Mini-Ratna Defence PSU, has been a profit making PSU which is regularly paying dividend to the Government exchequer continuously since 1993­-94. The cheque handed over yesterday is the 22^nd consecutive year in which GRSE has paid dividend to the Government Exchequer.

In March 2015,CGS Barracuda, an Offshore Patrol Vessel built by GRSE was commissioned at Port Louis, Mauritius by the Prime Minister of India in the presence of Prime Minister of Mauritius. This being the first ever export of warship built by India, was a historic achievement by GRSE.

Recently,on26 November 2015,GRSE delivered Kadmatt, the second of the four Anti­ Submarine Warfare stealth Corvettes being built for Indian Navy. The 1st of this Class of ship, INS Kamorta was commissioned in August 2014 at Visakhapaatnam, by the then Defence Minister Arun Jaitley.