Garden Reach Shipbuilders & Engineers (GRSE) announced its highest-ever annual turnover for FY 2025-26, reaching ₹6,400 crore (Provisional & Unaudited), a significant jump from ₹5,076 crore the previous year. In line with this performance, the shipyard declared an interim dividend of 129%. The year was marked by key naval deliveries, including the first Project 17A Frigate and achieving significant progress on export orders.
Record Financial Performance for FY 2025-26
Garden Reach Shipbuilders & Engineers Limited (GRSE) sustained robust growth momentum, achieving its highest annual turnover in history for the financial year 2025-26. The provisional and unaudited turnover stands at ₹6,400 crore, marking a substantial increase from ₹5,076 crore recorded in FY 2024–25.
Further rewarding stakeholders, the shipyard announced an interim dividend of 129% of the paid-up share capital, up from 89.5% in the preceding fiscal year.
Key Milestones in Naval Shipbuilding
FY 2025-26 was a landmark year for execution and delivery for the Indian Navy:
- GRSE commissioned a total of five vessels, including INS Himgiri (the first Project 17A Advanced Frigate), INS Ikshak (the third Survey Vessel Large), and the first three Anti-Submarine Warfare Shallow Water Crafts (ASW-SWC): INS Arnala, INS Androth, and INS Anjadip.
- The shipyard delivered a total of eight vessels to the Indian Navy, comprising two Project 17A frigates, two Survey Vessel Large (SVL) ships, and four ASW-SWC.
- A notable achievement was the simultaneous delivery of three warships—Dunagiri, Sanshodhak, and Agray—on the same day.
- GRSE is also advancing towards concluding a major contract for the construction of five Next Generation Corvettes.
Diversification and Advanced Technologies
Beyond complex warship construction, GRSE has broadened its portfolio, which now includes specialized platforms such as Acoustic, Coastal and Ocean Research Ships, Hybrid Ferries, and commercial vessels. Significant progress was also made on export commitments, including the construction of 12 export vessels for a German client and a Dredger for another friendly foreign country.
The company achieved a significant milestone in its non-naval segment by launching a first-of-its-kind Modular Foot Suspension Bridge (FSB), a fully indigenous structure capable of spanning up to 400 feet without piers. Furthermore, the shipyard delivered seven 30mm Naval Surface Gun systems.
In technological advancement, GRSE inaugurated a Next Generation Virtual Reality (NGVR) Lab and signed strategic Memorandums of Understanding (MoUs) with key industry players. This focus on modernization and capability enhancement was publicly recognized, as GRSE received 26 awards during the year, including the prestigious “Excellence in Financial Performance” Award presented by the Defence Minister.
Company Credentials
Established in 1884 and taken over by the Government of India in 1960, GRSE is a Schedule ‘A’ Mini Ratna Category I company. The shipyard holds the unique distinction of having built the highest number of warships delivered by any Indian yard to date, totaling over 800 platforms, including 118 warships for the Indian Navy, Coast Guard, and friendly foreign nations.
The company’s commitment to continuous improvement has enabled it to undertake the concurrent construction of 28 ships at a time, driven by a highly skilled design team utilizing state-of-the-art tools like the Next Generation VR Lab.
Source: BSE
