New Delhi: Garden Reach Shipbuilders and Engineers (GRSE) reported its strongest financial performance in its history in FY26, with revenue from operations rising 37.95 percent and profit after tax (PAT) increasing 41.81 percent year-on-year.
The company's revenue from operations increased to Rs 7,002.16 crore in FY26 from Rs 5,075.69 crore in FY25. Total income rose 34.49% to Rs 7,276.54 crore from Rs 5,410.53 crore in the previous year.
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EBITDA increased 41.47 percent to Rs 1,069.69 crore in FY26 from Rs 756.10 crore in FY25, while PAT rose to Rs 747.93 crore from Rs 527.40 crore.
Earnings per share (EPS) also increased to Rs 65.29 in FY26 from Rs 46.04 in FY25.
The company announced the financial performance at its 110th Annual General Meeting (AGM) held on September 25, 2026.
GRSE shareholders approved a total dividend of 196 percent of paid-up share capital for FY26, compared with 138.5 percent in FY25. This includes a final dividend of 67 percent, or Rs 6.70 per equity share of face value Rs 10, compared with 49 perent in FY25.
The final dividend is in addition to the first interim dividend of Rs 5.75 per share and second interim dividend of Rs 7.15 per share paid during FY26. The total dividend for FY26 thus stands at Rs 19.60 per equity share.
As of March 31, 2026, GRSE had an order book of Rs 15,324 crore. Chairman and Managing Director Cmde PR Hari said the strong order book, new initiatives and progress in commercial shipbuilding would support the company's performance in the current financial year.
On the operational front, GRSE delivered eight warships to the Indian Navy during FY26, of which five were commissioned during the year.
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The shipyard also launched a first-of-its-kind Modular Foot Suspension Bridge (FSB), an indigenous structure capable of spanning up to 400 feet without piers. GRSE is the only Defence Public Sector Shipyard engaged in the manufacture of prefabricated steel bridges.
During FY26, the company delivered seven 30mm Naval Surface Gun systems to the Indian Navy and undertook multiple refit projects.
GRSE also expanded its technology capabilities with the inauguration of a Next Generation Virtual Reality (NGVR) Lab. The company organised the third consecutive edition of its GAINS 2025 initiative, aimed at promoting innovation and technology in shipbuilding.
The company's FY26 performance was recognised with 26 awards, including the 'Excellence in Financial Performance' award presented by Defence Minister Rajnath Singh.
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