Garden Reach Shipbuilders and Engineers (GRSE) reported a sharp increase in revenue and profitability for the financial year 2025–26 at its 110th Annual General Meeting (AGM) held in Kolkata on September 25, 2026.
The defence public sector shipyard recorded revenue from operations of Rs 7,002.16 crore in FY26, up 37.95% from Rs 5,075.69 crore in FY25. Total income increased 34.49% to Rs 7,276.54 crore from Rs 5,410.53 crore during the previous financial year.
EBITDA rose 41.47% to Rs 1,069.69 crore, compared with Rs 756.10 crore in FY25. Profit after tax (PAT) increased 41.81% to Rs 747.93 crore from Rs 527.40 crore, while earnings per share rose from Rs 46.04 to Rs 65.29.
GRSE declares Rs 19.60 per share dividend
Shareholders approved a total dividend equivalent to 196% of the company’s paid-up share capital for FY26, compared with 138.5% in FY25.
The approved final dividend represents 67% of paid-up share capital, or Rs 6.70 per equity share with a face value of Rs 10. This follows an interim dividend of Rs 5.75 per share and a second interim dividend of Rs 7.15 per share paid during FY26, taking the total dividend for the year to Rs 19.60 per share.
Order book stood at Rs 15,324 crore
GRSE’s order book stood at Rs 15,324 crore as of March 31, 2026. The company said its commercial shipbuilding activities and new initiatives would form part of its focus during the current financial year.
“I am happy to report yet another year of excellent performance. The financial results speak for themselves. This has been the best performance in our 66-year history as a DPSU, made possible by our sustained efforts to achieve new milestones. As on March 31, 2026, we had an order book of Rs 15,324 crores. With our robust order book, new initiatives and progress in the commercial shipbuilding segment, I am confident of an even better performance in the current financial year,” said Cmde PR Hari, IN (Retd), Chairman and Managing Director, GRSE.
Shipbuilding and technology milestones
During FY26, GRSE delivered eight warships to the Indian Navy, with five of them commissioned during the financial year. The shipyard also delivered seven 30mm Naval Surface Gun systems to the Navy and undertook multiple refit projects.
GRSE also continued its work in prefabricated steel bridges. During the year, it launched a Modular Foot Suspension Bridge (FSB), an indigenous structure designed to span up to 400 feet without requiring piers.
The shipyard further expanded its technology capabilities with the inauguration of a Next Generation Virtual Reality (NGVR) Lab. The company also conducted the third edition of GAINS 2025, an initiative focused on advancing innovation and technology in the maritime and shipbuilding ecosystem.
GRSE elevated to Navratna status
The company’s FY26 performance was accompanied by its elevation to Navratna status by the Government of India in 2026.
GRSE said its performance during 2025–26 was recognised through 26 awards under its “26 in 26” initiative. These included the “Excellence in Financial Performance” Award presented by Defence Minister Shri Rajnath Singh.
The 110th AGM was attended by Cmde PR Hari, IN (Retd), Chairman and Managing Director; Cdr Shantanu Bose, IN (Retd), Director (Shipbuilding); Capt (IN) P Sunilkumar (Retd), Director (Corporate Planning & Personnel); Shri Niranjan Bhalerao, Director (Finance); Government Nominee Director Dr Vijay Namdeorao Zade; Independent Director Shri Kamleshbhai Mirani; Company Secretary Shri Sandeep Mahapatra; and shareholders.
