Tender Outcome
GRSE Emerges L1 Bidder for ₹40 Crore Electric Bollard Pull Tug Supply Contract from SMP Kolkata
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Garden Reach Shipbuilders & Engineers Limited (GRSE) has emerged as the Lowest Bidder (L1) for the supply of one 15 Ton Electric Bollard Pull Tug to Shyama Prasad Mukherjee Port (SMP), Kolkata. The tender carries an approximate value of ₹40 crore.
PRICE-SENSITIVE TRIGGER
Event: GRSE Becomes Lowest Bidder (L1) in Port Tug Tender
Type: Tender Outcome
Impact: Positive
Immediate Effect: The L1 status positions GRSE favorably for securing the contract, strengthening its order pipeline in the green maritime and port infrastructure segment.
Key Metrics:
- Tender Value: Approximately ₹40 crore
- Product: 15 Ton Electric Bollard Pull Tug
- Customer: Shyama Prasad Mukherjee Port (SMP), Kolkata
- Tender Status: Lowest Bidder (L1)
- Quantity: One Tug
- Bid Opening Date: 23 June 2026
Highlight:
- Potential Order Value: Approximately ₹40 crore for supply of an electric tug vessel.
What Happened ?
Garden Reach Shipbuilders & Engineers Limited (GRSE) informed stock exchanges that it participated in a tender issued by Shyama Prasad Mukherjee Port (SMP), Kolkata, for the supply of a 15 Ton Electric Bollard Pull Tug.
Following the opening of bids on 23 June 2026, GRSE emerged as the Lowest Bidder (L1) for the project. The approximate value of the tender is ₹40 crore.
The disclosure relates to the tender evaluation stage, and a formal purchase order or contract award has not yet been announced.
Key Details
Tender Details & Strategic Significance:
- Tender issued by Shyama Prasad Mukherjee Port, Kolkata.
- GRSE emerged as the Lowest Bidder (L1) after bid opening.
- Scope involves supply of one 15 Ton Electric Bollard Pull Tug.
- Estimated tender value is approximately ₹40 crore.
- Bid opening took place on 23 June 2026.
- The vessel falls within the electric and environmentally sustainable maritime solutions category.
- The opportunity supports GRSE’s diversification across defense and commercial shipbuilding segments.
- Successful conversion into a formal order would further strengthen the company’s order book.
Note:
- Electric tugboats are increasingly being adopted by ports to reduce emissions and improve operational efficiency. The tender aligns with broader maritime decarbonization initiatives and could enhance GRSE’s positioning in the emerging green vessel market.
Risk Analysis
Summary:
- The announcement relates to L1 bidder status rather than a finalized contract award. Revenue realization remains contingent upon formal acceptance, issuance of a purchase order, and successful execution of the contract.
Key Risks:
- L1 status does not guarantee final contract award.
- Tender award remains subject to customer approval and procedural completion.
- Contract value is approximate and may be subject to final terms.
- Execution timelines and technical specifications could evolve before award.
- Revenue recognition will occur only after contract execution milestones are achieved.
Worst Case:
- If the tender is cancelled, rebid, or not awarded despite L1 status, the expected order may not materialize into revenue.
Risk Level: Medium
Company Commentary
- GRSE participated in a tender floated by Shyama Prasad Mukherjee Port, Kolkata.
- The company emerged as the Lowest Bidder (L1) after bid opening on 23 June 2026.
- The tender relates to the supply of one 15 Ton Electric Bollard Pull Tug.
- The approximate value of the project is ₹40 crore.
- The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015.
- The information has been shared for stock exchange record and investor disclosure purposes.
Official Exchange Filing: Garden Reach Shipbuilders & Engineers Limited
