Kolkata: The 110th Annual General Meeting (AGM) of Garden Reach Shipbuilders and Engineers (GRSE) Ltd was held on Friday, September 25 2026. The meeting was attended by Cmde PR Hari, IN (Retd), Chairman and Managing Director, GRSE, Cdr Shantanu Bose, IN(Retd.), Director (Shipbuilding), Capt (IN) P Sunilkumar, (Retd.), Director (Corporate Planning & Personnel), Niranjan Bhalerao, Director (Finance), along with the Government Nominee Director, Dr Vijay Namdeorao Zade, Independent Director, Kamleshbhai Mirani, Company Secretary, Sandeep Mahapatra and shareholders of the company.
During the meeting it was highlighted how FY26 has been the most successful year in the Company’s history in terms of key performance parameters.
The figures speak for themselves:
- Revenue from Operations increased by 37.95% from Rs 5,075.69 crore in FY25 to Rs 7,002.16 crore in FY26
- Total Income grew from Rs 5,410.53 crore in FY25 to Rs 7,276.54 crore in FY26 This increase of Rs 1,866.01 crore over the previous year was a growth of 34.49%
- The EBITDA stands at Rs 1,069.69 crore in FY26, as against Rs 756.10 crore in FY25, with an increase of 41.47%
- The Profit After Tax (PAT) increased by 41.81% from Rs 527.40 crore in FY25 to Rs 747.93 crore in FY26
- Earnings per share (EPS) went up from Rs 46.04 in FY25 to Rs 65.29 in FY26
The shareholders of the Company at the 110th Annual General Meeting approved a Total Dividend of 196% of Paid-Up Share Capital against 138.5% in FY25 including a Final Dividend of 67% of Paid-Up Share Capital of the Company against 49% in FY25.
This amounts to a Final Dividend of Rs 6.70 per equity share of face value of Rs 10 each for the financial year 2025-26. This is in addition to the First Interim Dividend of Rs 5.75 per equity share of face value of Rs 10 each, which was paid in 2025-26 and Second Interim Dividend of Rs 7.15 per equity share of face value of Rs 10 each, which was paid in 2025-26. Hence, the total dividend declared for the financial year 2025-26 is Rs 19.60 per equity share of face value of Rs 10 each.
“I am happy to report yet another year of excellent performance. The financial results speak for themselves. This has been the best performance in our 66-year history as a DPSU, made possible by our sustained efforts to achieve new milestones. As on March 31, 2026, we had an order book of Rs 15,324 crores. With our robust order book, new initiatives and progress in the commercial shipbuilding segment, I am confident of an even better performance in the current financial year,” said Cmde PR Hari, IN (Retd), Chairman and Managing Director, GRSE.
The key physical milestones during FY 2025–26 included the delivery of eight warships to the Navy, five of which were commissioned during the financial year.
GRSE continues to remain the only Defence Public Sector Shipyard engaged in the manufacture of prefabricated steel bridges. During FY 2025–26, GRSE achieved a significant milestone with the launch of a first-of-its-kind Modular Foot Suspension Bridge (FSB), a fully indigenous structure designed to span up to 400 feet without the requirement of piers. The shipyard also delivered seven 30mm Naval Surface Gun systems to the Indian Navy and executed multiple refit projects.
In line with its focus on advanced technologies, GRSE strengthened its capabilities through the inauguration of a Next Generation Virtual Reality (NGVR) Lab and continued to build strong momentum with the third consecutive edition of GAINS 2025, reflecting its growing impact and sustained traction.
GRSE’s performance in 2025-26 was recognised with 26 awards— ‘26 in 26’—including the “Excellence in Financial Performance” Award presented by Defence Minister Rajnath Singh.
The year 2026 brought happy tidings with GRSE being elevated to the status of a Navratna company by the Government of India.
