Garden Reach Shipbuilders Signs ₹33 Crore Contract with MEA for Ship Refit
Filing Summary
Garden Reach Shipbuilders & Engineers Ltd has signed a contract with the Ministry of External Affairs, Government of India, for the second refit of the Seychelles Coast Guard Ship PS Zoroaster. The contract is valued at approximately ₹33 Crore, excluding GST. The refit work is scheduled to begin in early March 2026 and is expected to be completed within three months. This contract does not involve any related party transactions, and no promoter group has an interest in the awarding entity. The refit aligns with India’s regional security initiatives.
Garden Reach Shipbuilders & Engineers Ltd has entered into a contract with the Ministry of External Affairs, Government of India, for the second refit of the Seychelles Coast Guard Ship PS Zoroaster. The contract is valued at approximately ₹33 Crore, excluding GST. The refit work is scheduled to commence in early March 2026 and is expected to be completed within three months.
The financial terms of the contract specify a total value of ₹33 Crore, excluding GST. This contract has been awarded by a domestic entity, the Ministry of External Affairs, Government of India. There are no related party transactions involved, and none of the promoter or promoter group companies have any interest in the entity awarding the contract.
The scope of the contract involves the second refit of the Seychelles Coast Guard Ship PS Zoroaster. The refit will be conducted by Garden Reach Shipbuilders & Engineers Ltd, which has previously built the ship and carried out its maiden short refit in 2024. The refit work will focus on maintaining and upgrading the ship to ensure its operational readiness and longevity.
The contract aligns with India’s strategic vision of Security and Growth for All in the Region (SAGAR). The refit of PS Zoroaster is part of collaborative efforts between India and Seychelles to enhance regional stability and security. The ship was originally built by Garden Reach Shipbuilders & Engineers Ltd and handed over to the Seychelles Coast Guard in April 2021.
The timeline for the execution of the contract is set at three months from the start date in early March 2026. The contract was signed by representatives from the Ministry of External Affairs and Garden Reach Shipbuilders & Engineers Ltd, ensuring a clear understanding of the deliverables and expectations.
Garden Reach Shipbuilders & Engineers Ltd is a Defence Public Sector Undertaking under the Ministry of Defence. It has a rich history of building warships for the Indian Navy and other countries. The company has diversified into engineering, offering products such as pre-fabricated steel bridges and marine diesel engines. Garden Reach Shipbuilders & Engineers Ltd continues to focus on excellence and quality in shipbuilding, supported by its infrastructure and skilled workforce.