GRSE Q1 net profit rises 44 percent to Rs 173 crore; revenue jumps 39 percent

New Delhi: Defence public sector shipbuilder Garden Reach Shipbuilders & Engineers Limited (GRSE) on Wednesday reported a 43.83 percent year-on-year increase in its net profit to Rs 172.84 crore for the first quarter of FY2026-27, driven by strong growth in revenue and income.

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The company posted revenue from operations of Rs 1,814.62 crore during the April-June quarter, up 38.53 percent from Rs 1,309.87 crore in the corresponding period of the previous financial year. Total income also increased by 38.47 percent to Rs 1,914.18 crore from Rs 1,382.42 crore.

GRSE's earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 248.79 crore in the first quarter, registering a growth of 34.88 percent over Rs 184.46 crore reported in the year-ago period.

Profit before tax (PBT) rose 38.87 percent to Rs 231.53 crore from Rs 166.72 crore, while earnings per share (EPS) increased 43.83 percent to Rs 15.09 from Rs 10.49 during the same period.

Commenting on the financial performance, GRSE Chairman and Managing Director (CMD) PR Hari said the company had delivered another strong quarterly performance while sustaining its growth momentum. He said the elevation of GRSE to Navratna status reflected the company's continued focus on operational excellence.

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Hari added that the shipbuilder would pursue an aggressive business development, marketing and bidding strategy to secure both domestic and export orders. He said the company is simultaneously investing in greenfield and brownfield expansion projects to build larger and technologically advanced platforms meeting global quality standards.

The CMD also said GRSE would continue to adopt advanced technologies, including AI-driven shipbuilding, to improve operational efficiency and strengthen its long-term growth trajectory.

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