Garden Reach Shipbuilders & Engineers (GRSE) announced strong Q3 FY26 results, highlighted by a 46% increase in total income to ₹1,958 Crore. Revenue from operations grew by 49% to ₹1,896 Crore. The company reported a 74% increase in profit after tax (PAT), reaching ₹171 Crore. GRSE is on track for its best-ever financial performance, boosted by multiple warship deliveries and ongoing projects.
Q3 FY26 Financial Highlights
Garden Reach Shipbuilders & Engineers (GRSE) has announced its financial results for the third quarter and nine months ended December 31st, 2025, showcasing significant growth across key metrics.
- Total Income for Q3 FY26 stood at ₹1,958 Crore, a 46% increase compared to ₹1,343 Crore in Q3 FY25.
- Revenue from Operations increased to ₹1,896 Crore in Q3 FY26, a 49% rise from ₹1,271 Crore in Q3 FY25.
- Earnings before Interest, Tax, Depreciation, and Amortization reached ₹234 Crore in Q3 FY26, a 59% increase from ₹147 Crore in Q3 FY25.
- Profit Before Tax (PBT) for Q3 FY26 was ₹218 Crore, a 63% increase from ₹134 Crore in Q3 FY25.
- Profit After Tax (PAT) for Q3 FY26 reached ₹171 Crore, a substantial 74% increase from ₹98 Crore in Q3 FY25.
- Earnings per share (EPS) for Q3 FY26 stood at ₹14.91, compared to ₹8.57 in Q3 FY25.
9M FY26 Performance Overview
The company also reported strong results for the nine-month period (9M) ended December 31st, 2025:
- Total income for 9M FY26 was ₹5,086 Crore, a 39% increase compared to ₹3,654 Crore in 9M FY25.
- Revenue from operations for 9M FY26 reached ₹4,883 Crore, a 42% rise from ₹3,434 Crore in 9M FY25.
- The Company’s EBITDA for 9M FY26 was reported at ₹643 Crore, a 53% increase compared to ₹421 Crore in 9M FY25.
- Profit Before Tax (PBT) for 9M FY26 stood at ₹594 Crore, a 56% increase from ₹380 Crore in 9M FY25.
- Profit After Tax (PAT) for 9M FY26 reached ₹445 Crore, a 57% increase compared to ₹283 Crore in 9M FY25.
Management Commentary
Cmde PR Hari, IN (Retd), Chairman and Managing Director of Garden Reach Shipbuilders & Engineers Limited, stated, “With a strong set of numbers recorded during Q3 FY26, we are well on track to register our best-ever financial performance during the current financial year and declared for the first time, 2nd Interim Dividend for the Financial Year 2025-26 @ 7.15% per equity share. We have delivered five warships so far during the year and are currently executing 10 major shipbuilding projects comprising of 42 platforms. With the Next Generation Corvette contract on the anvil, we are confident of ending the current financial year with an order book of around ₹50000 Crore.”
Source: BSE
