Garden Reach Shipbuilders & Engineers Share Price Hits Fresh 10-Month High – Here is Why

Record-Breaking Financial Performance in FY26

GRSE witnessed record-high revenue and profits during FY26, owing to excellent execution and momentum within the organization. The company’s income from operations witnessed an increase of 37.95% YoY to ₹7,002.16 crore, against ₹5,075.69 crore in FY25. GRSE witnessed an increase in total income by 34.49%, which reached ₹7,276.54 crore from ₹5,410.53 crore in FY25.

In terms of operating profits, GRSE recorded an increase of 41.47% in EBITDA, which stood at ₹1,069.69 crore in FY26, against ₹756.10 crore in FY25. Pre-tax profits witnessed a growth of 42.86% YoY, reaching ₹1,004.70 crore, against

Strong Q4FY26 Performance

Fourth quarter FY26 ending March 31, 2026, was a period of excellent performance by GRSE, especially with respect to its revenue generation. The company posted revenues worth ₹2,119.21 crore during the quarter, marking an increase of 29.06% from the amount earned in the corresponding quarter of the preceding fiscal year, which stood at ₹1,642.04 crore. Gross income also increased by 24.72% to ₹2,190.37 crore from ₹1,756.25 crore.

The EBITDA for the period under consideration increased by 27.33% to ₹426.45 crore from ₹334.92 crore. The profits before taxes stood at ₹410.85 crore, which is 26.98% higher than the figure posted in the

Dividend Announcement

A final dividend of ₹6.70 per equity share is proposed by the Board of Directors for FY26, pending the approval of shareholders at the upcoming Annual General Meeting. It should be noted that two interim dividends amounting to ₹12.90 per equity share have been paid in FY26.

Key Operational Milestones in FY26

FY26 was an important year for GRSE in terms of operational milestones, especially in naval ship building. During FY26, GRSE had commissioned five ships, which include the first ship of the Project 17A Advanced Frigate (INS Himgiri), the third Survey Vessel Large (INS Ikshak), and three Anti-Submarine Warfare Shallow Water Craft (INS Arnala, INS Androth, and INS Anjadip).

In FY26, GRSE handed over eight ships to the Indian Navy. This includes two ships each from the Project 17A frigates, Survey Vessel Large ships, and four Anti-Submarine Warfare Shallow Water Crafts. One of the important achievements in FY26 was the same-day delivery of three warships (Dunagiri, Sanshodhak, and Agray). GRSE has also said that it is on the verge of signing a contract to build five Next Generation Corvettes.

Apart from warship building, GRSE ventured into specialised vessels like Acoustic, Coastal and Ocean Research Ships, Hybrid Ferries, and other commercial vessels. In exports, GRSE has taken steps in the direction by constructing 12 ships for their German customer and one dredger for a friendly foreign country. Apart from this, GRSE has successfully launched India’s first-ever Modular Foot Suspension Bridge that can span up to 400 feet without any piers.

Financial Insights and Profit Impact

According to the company, improvements in the construction phases and changes in contract terms for important projects like P17A, ASWSWC, and NGOPV contributed to additional income worth ₹519.55 crore, whereas the cost-to-complete increased by ₹456.93 crore. The net effect on the bottom line in the current year was a profit of ₹62.62 crore.

About the Company

Garden Reach Shipbuilders & Engineers Ltd. is an organization classified as a Defence PSU which comes under the ambit of the Ministry of Defence and enjoys ‘Schedule ‘A’ Mini Ratna Category I’ designation. Founded in the year 1884 and owned by the Government of India from 1960 onwards, GRSE became the first shipyard in free India to construct a warship for the Indian Navy. Over the years, GRSE has manufactured more than 800 vessels, out of which 118 have been warships. They maintain four shipyards and are involved in several businesses.