Garden Reach Shipbuilders & Engineers Limited (GRSE) has achieved a record annual turnover of ₹6,400 crore for the financial year 2025-26, marking the highest in its history. This represents a significant increase from the ₹5,076 crore turnover recorded in FY 2024-25. In addition, GRSE has declared an interim dividend of 129% of the paid-up share capital, up from 89.5% in the previous fiscal year.
The year was notable for GRSE’s advancements in naval shipbuilding, with the commissioning of five vessels, including INS Himgiri, the first Project 17A Advanced Frigate, and INS Ikshak, the third Survey Vessel (Large). The shipyard also launched the first three Anti-Submarine Warfare Shallow Water Crafts (ASW-SWC) — INS Arnala, INS Androth, and INS Anjadip.
GRSE delivered eight vessels to the Indian Navy during FY 2025-26, including two Project 17A frigates, two Survey Vessel Large ships, and four ASW-SWC. A remarkable achievement was the simultaneous delivery of three warships — Dunagiri, Sanshodhak, and Agray — to the Indian Navy on the same day. The shipyard is also nearing the conclusion of a contract for constructing five Next Generation Corvettes.
Beyond warship construction, GRSE expanded its portfolio to include specialised platforms such as Acoustic, Coastal and Ocean Research Ships, Hybrid Ferries, and other commercial vessels. The company is making progress on 12 export vessels for a German client and a dredger for a foreign country.
GRSE remains the only Defence Public Sector Shipyard manufacturing prefabricated steel bridges. It launched a Modular Foot Suspension Bridge (FSB), a fully indigenous structure spanning up to 400 feet without piers. The shipyard also delivered seven 30mm Naval Surface Gun systems to the Indian Navy and completed several refit projects.
Emphasising advanced technologies, GRSE inaugurated a Next Generation Virtual Reality Lab and formed strategic partnerships with Hindustan Shipyard Ltd, K2 Cranes & Components Pvt. Ltd., Kalyani Strategic Systems Ltd, SWAN Defence & Heavy Industries Ltd, and Reintjes GmbH, Germany. The shipyard’s performance was recognised with 26 awards, including the ‘Excellence in Financial Performance’ Award presented by Defence Minister Shri Rajnath Singh.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).