Kolkata: Leading shipbuilder Garden Reach Shipbuilders and Engineers (GRSE) Ltd began FY26 with a solid set of numbers in terms of revenue and profit after tax (PAT).
As the Chairman and Managing Director (CMD) of GRSE, Cmde PR Hari, IN (Retd), said, “We have started FY26 on the right note with strong Q1 results. Considering the production maturity levels of the ongoing projects, we are confident of maintaining the growth momentum.”
According to figures released by GRSE, the total income for the Q1FY26 stood at Rs 1382 Crore against Rs 1084 Crore in Q1FY25 with growth of 28% (Y-o-Y). The Revenue from Operation has increased to Rs 1310 Crore in Q1FY26 from Rs 1010 Crore in Q1FY25, which was a growth of 30% (Y-o-Y).
The earnings before Interest, Tax, Depreciation and Amortization stands at Rs 184 Crore in Q1FY26, as against Rs 130 Crore in Q1FY25, with an increase of 42%. The Profit Before Tax (PBT) is Rs 167 Crore for Q1FY26 as compared to Rs 115 Crore in Q1FY25, registering a growth of 45 % (Y-o-Y). The company’s Profit After Tax (PAT) is Rs 120 Crore in Q1FY26 as against Rs 87 Crore in Q1FY25, registering a growth of 38% (Y-o-Y).The earnings per share (EPS) for Q1FY26 is Rs 10.49, against Rs. 7.61 in Q1FY25.
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 Government of Mauritius, a Fast Patrol Vessel “SCG PS Zoroaster” for Seychelles and an Ocean-Going Cargo and Passenger Ferry Vessel “MV Ma Lisha” for Cooperative Republic of Guyana. The shipyard was conferred the status of a Miniratna Category I Company in 2006.
GRSE is the only Indian Shipbuilder to have four distinct shipyards as an unique infrastructure advantage. GRSE has built over 800 platforms, including 112 warships for Indian Navy, Indian Coast Guard, and friendly foreign countries – highest warships built and delivered by any Indian shipyard till date.
The ship yard has constructed a variety of vessels ranging from Frigates, Corvettes, Fleet Tankers, Landing Ship Tank, Landing Craft Utility to Survey Vessels, Offshore Patrol Vessels and Fast Attack Craft. In addition to shipbuilding and ship repair, GRSE is also engaged in engine production and other engineering activities. The engineering division manufactures deck machinery items, pre-fabricated portable steel bridges and marine pumps.
The shipyard has also been conferred the Raksha Mantri Award 2022 in designing the most silent ship for Indian Navy for ASW operation, Defence Minister’s Award for 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.
With a team of highly skilled design engineers and state of art VR Lab, latest software aid in the in-house design capabilities and proven credentials, the shipyard is on a growth path, reaffirming its motto “In Pursuit of Excellence and Quality in Shipbuilding.”
