Garden Reach Shipbuilders & Engineers Ltd Share Price – NSE /  BSE

Aerospace & Defence, Small Cap

In an exchange filing dated 20 June 2026, the defence shipbuilder said the Government of India approved the Navratna status through an Office Memorandum issued on 19 June 2026. The company said the recognition reflects its strong financial performance, operational efficiency and contribution to national security.

Navratna status provides greater financial and operational autonomy to public sector enterprises, enabling them to undertake larger investments and expansion projects without requiring extensive government approvals.

GRSE said it delivered eight warships during FY26, including three vessels on a single day - 30 March 2026. These included the Project 17A guided-missile frigate Dunagiri, survey vessel Sanshodhak and anti-submarine warfare shallow water craft Agray.

The elevation to Navratna status comes as the Kolkata-based shipbuilder pursues capacity expansion through both brownfield and greenfield projects.

Commenting on the development, chairman and managing director Commodore P.R. Hari (Retd.) said the recognition would strengthen its ability to pursue strategic opportunities, enhance self-reliance in defence manufacturing and improve global competitiveness.

GRSE traces its origins to 1884 and was taken over by the Government of India in 1960. The company delivered India's first indigenous warship, INS Ajay, in 1961 and has since built more than 800 marine platforms, including 118 warships for the Indian Navy, Coast Guard and friendly foreign nations.

The company is also expanding its commercial shipbuilding business. It is currently constructing 12 multi-purpose vessels for a German client and has ventured into green and autonomous vessel development. GRSE said it is the only Indian shipyard specialising in research vessels.

The company?s standalone net profit surged 24.1% to Rs 303.20 crore in Q4 FY26, compared with Rs 244.25 crore in Q4 FY25. Revenue from operations jumped 29.1% YoY to Rs 2,119.21 crore during the quarter ended 31 March 2026.

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In an exchange filing on 20 June 2026, GRSE said the government approved the Navratna status through an Office Memorandum dated 19 June 2026. The company said the recognition reflects its strong financial performance, operational efficiency and contribution to national security.

Navratna status provides greater financial and operational autonomy to public sector enterprises, enabling them to undertake larger investments and expansion projects without requiring extensive government approvals.

GRSE said it delivered eight warships during FY26, including three vessels on a single day - 30 March 2026. These included the Project 17A guided-missile frigate Dunagiri, survey vessel Sanshodhak and anti-submarine warfare shallow water craft Agray.

The elevation to Navratna status comes as the Kolkata-based shipbuilder pursues capacity expansion through both brownfield and greenfield projects.

Commenting on the development, chairman and managing director Commodore P.R. Hari (Retd.) said the recognition would strengthen its ability to pursue strategic opportunities, enhance self-reliance in defence manufacturing and improve global competitiveness.

GRSE traces its origins to 1884 and was taken over by the Government of India in 1960. The company delivered India's first indigenous warship, INS Ajay, in 1961 and has since built more than 800 marine platforms, including 118 warships for the Indian Navy, Coast Guard and friendly foreign nations.

The company is also expanding its commercial shipbuilding business. It is currently constructing 12 multi-purpose vessels for a German client and has ventured into green and autonomous vessel development. GRSE said it is the only Indian shipyard specialising in research vessels.

The company?s standalone net profit surged 24.1% to Rs 303.20 crore in Q4 FY26, compared with Rs 244.25 crore in Q4 FY25. Revenue from operations jumped 29.1% YoY to Rs 2,119.21 crore during the quarter ended 31 March 2026.

On the NSE, the scrip shed 0.93% to settle at Rs 2,799 on Friday.

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The appointment was made through a letter dated June 5, 2026, issued by the Department of Defence Production (DDP), Ministry of Defence, the state-run defence shipbuilder said in a regulatory filing.

Dr Zade is a 2002-batch IAS officer of the Punjab cadre and currently serves as Joint Secretary (Naval Systems) in the Department of Defence Production. He oversees financial, administrative and operational matters related to defence public sector shipyards and is involved in technology indigenisation and defence industrial cooperation initiatives.

He holds a doctorate in Horticulture (Post Harvest Technology) from the Indian Agricultural Research Institute, New Delhi, an MBA from Sikkim Manipal University and an MSc in Public Management and Governance from the London School of Economics and Political Science.

Prior to joining the IAS, Dr Zade worked as a Junior Scientist at the National Research Centre for Grapes, Pune, and also served in the Indian Audit and Accounts Service. During his administrative career, he has held key positions in the governments of Punjab, Maharashtra and the Union Territory of Chandigarh across finance, urban development, health, industry and other departments.

GRSE said Dr Zade does not hold any equity shares in the company and has no inter-se relationship with any other director on the board.

Garden Reach Shipbuilders & Engineers is a defence public sector shipyard under the Ministry of Defence. It was the first Indian shipyard to build a warship for the Indian Navy and has since delivered over 800 platforms, including 118 warships for domestic and international clients. The company operates four shipyards and has diversified into engineering products such as prefabricated bridges and marine systems.

The company?s standalone net profit surged 24.1% to Rs 303.20 crore in Q4 FY26, compared with Rs 244.25 crore in Q4 FY25. Revenue from operations jumped 29.1% YoY to Rs 2,119.21 crore during the quarter ended 31 March 2026.

The scrip shed 0.80% to Rs 2,654.65 on the BSE.

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Revenue from operations jumped 29.1% YoY to Rs 2,119.21 crore during the quarter ended 31 March 2026.

Profit before tax (PBT) rose 27% to Rs 410.85 crore in Q4 FY26 as against Rs 323.55 crore in Q4 FY25. EBITDA stood at Rs 426.45 crore, up 27.33% YoY from Rs 334.92 crore in the corresponding quarter last year.

Total expenses increased 24.2% to Rs 1,779.51 crore in Q4 FY26, compared with Rs 1,432.70 crore in Q4 FY25. The cost of material consumed stood at Rs 811.50 crore (down 22.3%), employee benefit expenses stood at Rs 112.00 crore (up 15.2%), while sub-contracting charges were at Rs 470.72 crore (up 262% YoY) and finance costs stood at Rs 2.62 crore (up 93% YoY) during the period under review.

On a full-year basis, the company's consolidated net profit surged 41.8% to Rs 747.93 crore on a 38% increase in revenue from operations to Rs 7,002.16 crore in FY26 over FY25.

Cmde PR Hari, IN (Retd.), chairman & MD, Garden Reach Shipbuilders & Engineers, said, ?FY26 marks a landmark year for GRSE wherein our robust physical performance has been translated into strong financial results. During the year, we delivered 08 warships, that means a ship every one & a half months, a credible achievement by any standards. We intend maintaining the tempo in the years ahead through capability enhancement, new technology adoption and calibrated business diversification.?

Meanwhile, the board of directors recommended a final dividend of Rs 6.70 per equity share for the financial year 2025?26. The dividend recommendation is subject to approval of shareholders at the ensuing annual general meeting (AGM) of the company. Garden Reach Shipbuilders said the final dividend will be paid within 30 days from the date of its declaration at the 110th AGM.

Garden Reach Shipbuilders & Engineers is a defence public sector shipyard under the Ministry of Defence. It was the first Indian shipyard to build a warship for the Indian Navy and has since delivered over 800 platforms, including 118 warships for domestic and international clients. The company operates four shipyards and has diversified into engineering products such as prefabricated bridges and marine systems.

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