New Delhi: Garden Reach Shipbuilders & Engineers Limited (GRSE) on Tuesday announced a strong and consistent financial performance for the third quarter and nine months ended December 31, reflecting robust growth across key financial parameters.
For the nine months ended December 31, 2025 (9M FY26), GRSE reported a total income of Rs 5,086 crore as compared to Rs 3,654 crore in the corresponding period of the previous year, registering a growth of 39 percent. Revenue from operations rose to Rs 4,883 crore in 9M FY26 from Rs 3,434 crore in 9M FY25, marking a year-on-year increase of 42 percent.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 53 percent to Rs 643 crore during the period under review, compared to Rs 421 crore in the same period last year. Profit before tax (PBT) stood at Rs 594 crore in 9M FY26 against Rs 380 crore in 9M FY25, recording a growth of 56 percent, while profit after tax (PAT) rose by 57 percent to Rs 445 crore from Rs 283 crore a year ago.
Commenting on the results, GRSE's Chairman and Managing Director (CMD) Cmde P R Hari, IN (Retd) said that with a strong set of numbers recorded during Q3 FY26, the company is well on track to register its best-ever financial performance in the current financial year. He added that GRSE has declared, for the first time, a second interim dividend for FY26 at 7.15 percent per equity share.
The CMD further said that the company has delivered five warships so far during the year and is currently executing 10 major shipbuilding projects comprising 42 platforms. He noted that GRSE’s other business verticals, including ship repairs, portable steel bridges and naval weapon systems, are also performing well.
Highlighting the company’s growth outlook, Cmde Hari said that with the next generation corvette contract on the anvil, GRSE is confident of closing the current financial year with an order book of around Rs 50,000 crore.
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