GRSE Posts Record Turnover And Declares Interim Dividend

03 Apr 2026 CW Team

Garden Reach Shipbuilders & Engineers Limited recorded its highest annual turnover for FY 2025–26 with provisional and unaudited revenue of Rs 64 billion (Rs 64 bn), compared with Rs 50.76 billion (Rs 50.76 bn) in FY 2024–25. The company declared an interim dividend of 129 per cent of paid?up share capital, up from 89.5 per cent in the prior year. Management said the results reflected sustained momentum across naval and commercial businesses.

FY 2025–26 included several commissioning and delivery milestones, with five vessels commissioned among them the first Project 17A Advanced Frigate, INS Himgiri, and INS Ikshak, the third Survey Vessel (Large). The year also saw the commissioning of the first three Anti?Submarine Warfare Shallow Water Crafts: INS Arnala, INS Androth and INS Anjadip. The shipyard reported delivery of a total of eight vessels to the Indian Navy during the year.

The company said it was in advanced stages of concluding a contract for the construction of five Next Generation Corvettes. GRSE expanded its portfolio to include specialised platforms such as acoustic, coastal and ocean research ships, hybrid ferries and other commercial vessels. The yard reported progress on construction of 12 export vessels for a German client and completion of a dredger for a friendly foreign country.

GRSE noted the launch of a first?of?its?kind Modular Foot Suspension Bridge capable of spanning up to 400 feet without piers and highlighted delivery of seven 30 mm naval surface gun systems to the Indian Navy. The shipyard strengthened capabilities with the inauguration of a Next Generation Virtual Reality lab and strategic memoranda of understanding with domestic and international partners while hosting GAINS 2025. The company reported receiving 26 awards during the year, including recognition for excellence in financial performance from the defence minister.

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