Garden Reach Shipbuilders & Engineers Ltd (GRSE) has paid a dividend of Rs 8.05 crore to the shareholders for the year 2000-2001. The Chairman of GRSE, Rear Admiral R Paralikar handed over a cheque worth Rs 8.05 crore to Defence Minister, Mr George Fernandes. The company has earned a profit of Rs 40.56 crore during the last financial year. During this period, the company produced materials worth Rs 491.06 crore against Rs 427.30 crore in the previous year.

GRSE delivered two fast attack craft, INS Trikant and INS Tillanchang during the last financial year. The company also delivered the first Hovercraft
H-181, GRSE Yard No 1121 to the Coast Guard last year. This was the first of the series of the six hovercraft to be manufactured for the Coast Guard. At present, the company is engaged in the construction of seven warships which include frigates, corvettes and fast attack craft for the Indian Navy and hovercraft for the Coast Guard.

– PIB (DW)

Under the auspices of NCC (Naval Wing), an adventurous sailing expedition was conducted on Mahanadi River in Orissa. The expedition began from Kamaladiha and terminated at Tirtol.

Fifty cadets participated in the expedition which was flagged off by Orissa state Minister of Health and Family Welfare, Mr Devi Prasad Mishra. Addressing the team members on this occasion, the minister said that this expedition not only commemorated Kalinga's tradition of trade and commerce undertaken through water route, it also revitalized the rich heritage of Utkal. Cmde CR Charyulu, deputy Director General of NCC Directorate, Orissa also addressed the team members and he opined that the trainees would be able to take part in all kinds of water adventourous activities in future.

The expedition was led by CO of (ORI) Naval Unit, Cdr Pradip Kumar Routray. Petty Officer PK Mishra (UCI) and Cdt Capt Bishwa Ranjan Gouda joined this expedition as Chief Instructor and Camp Senior respectively. In this expedition, 4- wheeler class boats took part.

-Cdt Capt Jagannath Behera

The Chairman and Managing Director of Bharat Electronics Limited (BEL), Dr V K Koshy presented a dividend cheque worth Rs 24.28 crore to the Defence Minister, Mr George Fernandes. BEL, a public sector undertaking (PSU) of the Ministry of Defence, has declared an all time high dividend of 40 per cent for the fiscal year 2000-2001. BEL is one of the select constant dividend paying PSUs of the Ministry of Defence. Its dividend was doubled during the last five years.

BEL reported the highest ever turn-over of Rs 1715 crore with an after tax profit of Rs 155 crore during the financial year 2000-01 compared to the previous year's turn-over of Rs. 1494 crore and an after-tax profit of Rs. 107.9 crore. With a healthy order book position of Rs. 2850 crore, BEL expects to continue profitable growth during the current financial year.

Bharat Electronics Limited caters to the needs of the Armed Forces in the areas like radars, communication, tank electronics, electronic warfare systems, opto-electronics and batteries. Over the years, BEL has also achieved a sizeable presence in the civilian market for the requirements of electronic voting machines, electronic components, broadcasting and television antenna, telecommunication, satellite communication, solar products, fish finders, mother boards etc.