New Delhi: Garden Reach Shipbuilders & Engineers Limited (GRSE) has officially announced the appointment of Niranjan Bhalerao as its new Director (Finance), effective October 6, 2025. Prior to joining GRSE, Bhalerao served as Executive Director (Finance) at Indian Oil Corporation Limited (IOCL), one of India’s leading Maharatna PSUs.
A Fellow Member of the Institute of Chartered Accountants of India (ICAI) and a Commerce graduate from Pune, Bhalerao brings with him nearly 30 years of extensive experience in financial management, primarily in the oil and gas sector.
Extensive Experience Across PSU Finance
Bhalerao began his professional journey with IOCL in 1996, gaining rich exposure across various business verticals including Refineries, Pipelines, and the Corporate Office. His financial leadership has spanned key domains such as:
- Management Accounting
- Taxation
- Banking
- Internal Audit
- Corporate Affairs
- Shipping & Contracts
- City Gas Distribution
- Joint Venture Operations
He also served as the Nominee Director on the Board of Kochi Salem Pipeline Pvt Ltd, a joint venture between BPCL and IOCL, playing a pivotal role in strategic decisions related to financial performance and governance.
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Strategic Vision for GRSE’s Financial Growth
In its official statement, GRSE highlighted that Bhalerao’s appointment is expected to significantly bolster the company’s financial management framework. His expertise in corporate finance, strategic planning, and taxation will play a crucial role in supporting GRSE’s long-term growth strategy and enhancing overall operational efficiency.
About GRSE
Garden Reach Shipbuilders & Engineers Limited (GRSE), a Miniratna Defence PSU headquartered in Kolkata, is one of India’s premier defence shipyards. It is renowned for designing and constructing a wide array of advanced naval vessels for the Indian Navy and Coast Guard, contributing significantly to India’s maritime and defence capabilities.
