GRSE Strengthens Financial Performance, Registers Impressive Growth in Q2 & H1 FY27

Kolkata, 11th Nov, 26: Garden Reach Shipbuilders & Engineers Limited (GRSE), a Navratna Public Sector Undertaking under the Ministry of Defence, GOI has announced its financial results for the second quarter ended September 30th, 2026.
The revenue recorded during Q2 FY27 was Rs 1827 Cr, registering a growth of 9% over Q2 FY26. Similarly, the PAT has increased by 12% to Rs 232 Cr during the same period.

Financial Performance:

Commenting on the results, Cmde PR Hari, IN (Retd) Chairman and Managing Director, Garden Reach Shipbuilders & Engineers Limited said, “The Q2 & H1 FY27 results have been encouraging, with GRSE once again delivering a strong financial performance. The quarter marked several significant milestones for GRSE, including the launch of the second Next Generation Offshore Patrol Vessel ‘Shruti’ for the Indian Navy & an Ocean Research Vessel ‘Sagar Manthan’ for NCPOR, Ministry of Earth Sciences, and the Bhumi Pujan of three new major brownfield infrastructure projects in West Bengal. These developments underscore GRSE’s continued commitment to strengthening indigenous shipbuilding capabilities, expanding infrastructure and contributing to India’s maritime security and defence preparedness in line with the vision of Aatmanirbhar Bharat.”

About Garden Reach Shipbuilders & Engineers Ltd BSE: 542011 NSE: GRSE (www.grse.in)

The journey of Garden Reach Shipbuilders & Engineers Ltd., a Navratna Public Sector Undertaking, under the administrative control of Ministry of Defence, dates back to 1884 when it started its journey as a small workshop to repair vessels of River Steam Navigation Company. The Company was taken over by the Government of India in 1960. GRSE has the distinction of becoming the first shipyard of independent India to build a warship for Indian Navy, the Seaward Defence Boat (SDB) INS Ajay, way back in 1961. GRSE also built the first ever Indian Export Warship “CGS Barracuda” for Govt. of Mauritius, a Fast Patrol Vessel “SCG PS Zoroaster” for Seychelles and an Ocean-Going Cargo & Passenger Ferry Vessel “MV   Ma Lisha” for Cooperative Republic of Guyana. GRSE has 07 Operational Units at Kolkata, West Bengal and 01 Operational Unit at Ranchi, Jharkhand. GRSE is the only Indian Shipbuilder to have four distinct shipyards as a unique infrastructure advantage. GRSE has built over 800 platforms, including 119 warships for Indian Navy, Indian Coast Guard, and friendly foreign countries – highest number of warships built & delivered by any Indian shipyard till date. From Frigates, Corvettes, Fleet Tankers, Landing Ship Tank, Landing Craft Utility to Survey Vessels, Offshore Patrol Vessels and Fast Attack Craft – the repertoire is rich and varied. In addition to shipbuilding & ship repair, GRSE has also diversified into engineering business with a product profile of pre-fabricated steel bridges, various deck machinery items and assembly, testing & overhauling of marine diesel engines and the manufacture of 30mm Naval Surface Guns. Noteworthy accolades include Defence Minister’s Award 2025 for Excellence in Financial Performance, Defence Minister’s Award 2022 in Designing the most silent ship for Indian Navy for ASW operation, Defence Minister’s Award of Excellence for In-house Design Effort for Offshore Patrol Vessel for Government of Mauritius, CGS Barracuda, Best Performing Defence Shipyard of India for Four Years in a row. GRSE embraced infrastructure modernization over past decades and can undertake concurrent construction of 28 ships at a time. A strong team of highly skilled design engineers and state-of-the-art Next Generation VR Lab & latest software aid in the in-house design capabilities. With proven credentials, the shipyard is on a growth path, reaffirming its motto “Infinite Passion Meets Unwavering Commitment”.

For more information, contact:

Sandeep Mahapatra