New Delhi: Garden Reach Shipbuilders & Engineers Ltd. (GRSE), a Navratna defence PSU, has reported a 12 percent year-on-year increase in standalone net profit (PAT) to Rs 172 crore for the second quarter of FY 2026-27, compared to Rs 154 crore in the corresponding quarter of the previous financial year.
The company's revenue from operations rose 9 percent to Rs 1,827 crore in Q2 FY27, against Rs 1,677 crore in Q2 FY26, according to its financial results announced on November 11.
GRSE's total income increased 8 percent to Rs 1,886 crore during the quarter, compared to Rs 1,746 crore a year earlier. EBITDA grew 13 percent to Rs 254 crore from Rs 225 crore, while profit before tax (PBT) increased 11 percent to Rs 232 crore against Rs 209 crore in the corresponding quarter.
For the first half of FY27, GRSE recorded a 26 percent increase in PAT to Rs 345 crore, compared to Rs 274 crore in the corresponding period of FY26. Revenue from operations grew 22 percent to Rs 3,641 crore from Rs 2,987 crore.
The company's total income increased 21 percent to Rs 3,800 crore during H1 FY27, against Rs 3,128 crore in H1 FY26. EBITDA rose 23 percent to Rs 503 crore from Rs 409 crore, while PBT increased 23 percent to Rs 463 crore from Rs 376 crore.
Earnings per share (EPS) for the first half also increased 26 percent to Rs 30.10, compared to Rs 23.92 in the year-ago period.
Commenting on the performance, Cmde PR Hari, IN (Retd), Chairman and Managing Director of GRSE, said the company had delivered encouraging financial results in both Q2 and H1 FY27.
He highlighted key operational milestones during the quarter, including the launch of the second Next Generation Offshore Patrol Vessel, Shruti, for the Indian Navy and the Ocean Research Vessel Sagar Manthan for the National Centre for Polar and Ocean Research (NCPOR), under the Ministry of Earth Sciences.
The company also performed the Bhumi Pujan for three major brownfield infrastructure projects in West Bengal during the quarter. According to the CMD, these initiatives reflect GRSE's focus on strengthening indigenous shipbuilding capabilities, expanding infrastructure and contributing to India's maritime security and defence preparedness under the Aatmanirbhar Bharat vision.
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