This document describes the components and working principle of a gyrocompass. A gyrocompass uses a gyroscope mounted on a set of gimbals to maintain its axis of rotation and always point towards geographic north. This allows ships and airplanes to navigate regardless of their motion or orientation. The document outlines the key parts of a gyrocompass including the gyroscope, gimbals, and transducers to measure pitch, roll and yaw. It also provides details on construction, specifications for sample components, advantages over magnetic compasses, and a total cost estimate of 1348 rupees to build a basic three-axis gyrocompass.