The Indian Navy is likely to announce plans to float one of the country’s largest shipbuilding tenders, worth ₹80,000 crore, for four Landing Platform Dock (LPD) warships. This development follows the Defence Ministry’s approval of a ₹70,000 crore warship project in September 2024, highlighting the government’s significant capital allocation toward naval modernisation.
As per ANI reports, the Indian Navy envisions the LPDs as versatile platforms that can operate fixed-wing naval drones, act as command-and-control hubs for extended shore-based missions, and provide both air defence and offensive capabilities through long-range anti-ship missiles and drones.
The upcoming tender is expected to see intense competition among domestic shipbuilders, with international design partnerships playing a pivotal role. Spain’s Navantia, France’s Naval Group, and Italy’s Fincantieri are among the foreign firms likely to collaborate with Indian companies.
Potential direct beneficiaries of the tender include domestic players such as Cochin Shipyard Limited, Garden Reach Shipbuilders Engineers, Mazagon Dock Shipbuilders, Adani Ports and Special Economic Zone, among others.
They are expected to be at the forefront of bidding for the ambitious naval project, given their proven track record in delivering complex warships and support vessels to India.
On Monday, Cochin Shipyard Ltd closed at ₹1,922.90, up 1.16% from the previous close, with a market capitalisation of ₹50,990 crore. Cochin Shipyard maintains a robust order book valued at ₹21,100 crore as of June 2025, providing revenue visibility. The stock has demonstrated strong momentum, with shares delivering 24.30% on the YTD basis
Garden Reach Shipbuilders Engineers operates with a market cap of ₹31,072 crore. The company recently secured the Next Generation Corvette program worth over ₹25,000 crore, demonstrating its competitive position in naval projects. GRSE has established expertise in delivering frigates, corvettes, and patrol vessels to the Indian Navy.
On Monday, Mazagon Dock Shipbuilders’ share price closed at ₹2,976.40, down 0.26%, with a market capitalisation of ₹1,21,460 crore. The company maintains an almost debt-free status and has delivered a 38.3% compound annual growth rate in profit over the last five years.
The share price of Adani Ports closed at ₹1,444.20 per share, up by 1.15% on Monday, with a market cap of ₹3,12,248 crore. The stock has generated returns of 18.26% on a YTD basis and 22.26% over the last six months. With a PE ratio of 27.4 and a dividend yield of 0.49%, the company maintains its position as India's largest private port operator.
JSW Infrastructure has a total market capitalisation of ₹70,865 crore. The company reported strong performance with quarterly net profit increasing 31.54% YoY to ₹390 crore in recent quarters. JSW Infrastructure's stock has shown 10.64% gains over the last 6 months.
Gujarat Pipavav Port maintains a market cap of ₹7,612 crore with a PE ratio of 19.33. The company offers a dividend yield of 5.24%, among the highest in the sector. Recent quarterly results showed a net profit of ₹100.7 crore, which dipped by 4% YoY.
On Monday, the Shipping Corporation of India share price closed at ₹226.53, up by 3.36%, with a market capitalisation of ₹10,753 crore. The company reported strong fundamentals with PE ratio of 11.9 and ROE of 10.5%. SCI's stock has generated 32% returns in the last six months with FIIs increasing their holdings in recent quarters.
Shares of Great Eastern Shipping closed at ₹1,047.85 per share, down by 0.62%, with a market cap of ₹15,036 crore. The company reported consolidated net sales of ₹1,337 crore in June 2025, down 21.4%YoY, though net profit declined 38% YoY to ₹505 crore. The stock has delivered 13.22% returns over six months and 9.33% over a YTD basis.
Seamec share price closed at ₹959.30 per share on Monday with a market cap of ₹2,445 crore. The company maintains a PE ratio of 21.8 and has shown consistent performance in offshore drilling services. Seamec's stock reached a 52-week high of ₹1,669 in August 2024.
The Indian Navy's ₹80,000 crore tender represents a significant catalyst for the domestic shipbuilding ecosystem. The project timeline spans multiple years, ensuring sustained revenue streams for successful bidders. With India’s defence budget allocation of ₹6.81 lakh crore, and the Navy receiving a record-high capital expenditure outlay of ₹97,149.80 crore, this tender underscores the government’s strong commitment to strengthening indigenous defence manufacturing capabilities.
The tender's emphasis on domestic construction with international design partnerships aligns with India's Make in India initiative while ensuring access to advanced naval technologies. This massive procurement will substantially enhance India's amphibious warfare capabilities, currently limited to a single LPD vessel acquired from the United States.
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