New Delhi: Garden Reach Shipbuilders & Engineers Ltd (GRSE) has been granted Navratna status by the Department of Public Enterprises (DPE) under the Ministry of Finance, marking a significant milestone in the defence shipbuilder's growth journey. With this upgradation, GRSE has become the 29th Navratna amongst the CPSEs.
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The Navratna status was conferred on June 19 in recognition of the company's sustained financial and operational performance over the years. The new status is expected to provide greater financial and operational autonomy to the defence PSU, enabling it to undertake larger investments and pursue strategic expansion plans.
GRSE has recorded strong growth in its financial performance during the last five years. The company's revenue from operations increased from Rs 1,754 crore in FY 2021-22 to Rs 7,002 crore in FY 2025-26, registering a growth of nearly 300 percent. During the same period, its profit after tax (PAT) rose from Rs 190 crore to Rs 748 crore.
The shipyard has also strengthened its position in indigenous defence manufacturing in line with the government's Aatmanirbhar Bharat and Make in India initiatives. During FY 2025-26, GRSE delivered eight warships to the Indian Navy and the Indian Coast Guard, including three warships on a single day on March 30.
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Commenting on the development, GRSE's Chairman and Managing Director (CMD) Cmde PR Hari, IN (Retd), said that the conferment of Navratna status is a defining moment in the company's journey and a matter of pride for the entire GRSE family.
He said that the recognition reflects the confidence reposed in the company and acknowledges the dedication and professionalism of its employees. According to him, the new status will further empower the shipyard to pursue strategic opportunities, enhance self-reliance in defence manufacturing, strengthen global competitiveness and contribute towards India's vision of becoming a leading maritime power by 2047.
The elevation to Navratna status comes at a time when GRSE is pursuing capacity expansion through both brownfield and greenfield projects to meet growing demand in the defence and shipbuilding sectors.
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