Garden Reach Shipbuilders & Engineers Ltd (GRSE) has secured a new defence order from the Ministry of External Affairs, Government of India, for the second refit of the Seychelles Coast Guard Ship PS Zoroaster. The contract value is approximately ₹33 crore, excluding GST, and has been awarded by a domestic entity.
As per the disclosure made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the scope of work involves the refit of the coast guard vessel, which is scheduled to be executed within a period of three months from the date of the contract. The refit is expected to commence in early March 2026.
The contract was formally signed on February 06, 2026. The PS Zoroaster was originally built by GRSE and handed over to the Seychelles Coast Guard in April 2021. The ship had earlier undergone a short refit at GRSE in 2024, and the award of the second refit reflects continued engagement for maintenance and lifecycle support of the vessel.
GRSE has clarified that none of the promoter, promoter group, or group companies have any interest in the entity awarding the contract. The transaction does not fall under related party transactions and has been undertaken on a non-related basis.